Financial Expert, Ellie Kay,from Good Money (ABC News), author and frequent guest on various news stations offers here a unique approach to personal finances in The 60 Minute Money Workout. Rather than prescribing a one-size-fits-all financial plan she presents a series of ’60 minute money workouts’ where you take the time to reflect on how you use your money.
Each chapter consists on a pretest to evaluate how you handle your money in regards to the chapter topic. Then there is the ‘work out’ which involves a five minute ‘warm up’ where you say something positive about your handling of money (or your spouse) and commit yourself to the task at hand. This is followed by ‘strength training’ for 10 minutes, which for Ellie Kay means goal setting. ‘Cardio Burn’ is where you really get to work organizing, planning, writing out steps to take, etc(20 minutes) After the Cardio Burn you ‘Take your Heart rate’ which is another 20 minutes of work, either continuing research, filling out a plan, or taking some sort of action. Finally there is the ‘Cool Down’ where you spend five minutes congratulating yourself on your progress and planning your next worko
This is not the typical read for me, but because I need to get a better hand on personal finances I thought it would be a good read. There are some helpful tips and the idea of spending 1 hour evaluating how you are handling finances and planning for your future is a good idea. Kay covers various topics related to finances: Financial Freedom, Your Money personality, Spending, Retirement and Saving, Debt, Paying less, Travel expenses, Allowances, Kid Entrepreneurs, College funds, Home Based Businesses, Couples and Giving. In each chapter there are helpful evaluative tools and insights.
The work-out format is a little cutesy for me and I find the 10 minutes of each hour devoted to positive-thinking self talk to be a little over the top. As I haven’t read many books similar to this I don’t know how it stacks up against other treatments of the topic (Ron Blue for instance) but I think Ellie Kay does have some good things to say.
I received this book for free from WaterBrook Multnomah Publishing Group in exchange for this review.