The Dummies series of books are very commonly known and vary in quality, depending on the subject being covered. Some are more thorough than others. Living Well in a Down Economy for Dummies by Tracy L. Barr is one of the best of the series that I’ve read so far. It’s also one of the most all encompassing I’ve yet to see. Ms Barr covers everything from reducing the stress financial worries cause to simple ways to pare down your food budget without seeming to give up anything at all.
Ms Barr starts the book with some good advice for all these days. Basically, to determine what your overall financial status is and ways to prepare yourself in case the worst happens and you lose your job. Such as reigning in your expenses for the moment and trying to build up a little money as a cushion to get by on. She also covers things like tips to find a new job if you lose your old one, ways to reduce household expenses a lot of us would never have thought of such as increasing the deductible on your car and home insurance, ways to maintain clothes to make them last longer, how to make small home and car repairs by yourself and more importantly these days, how to reduce one’s credit debt levels.
Ms. Barr also demystifies some things only accountants seem to understand, that is how to determine one’s Net Worth and even includes a worksheet to make it as simple as possible. (Assets versus Liabilities, who knew it was that simple) She then includes a worksheet to help you figure out your Average Monthly Spendable Income. And then a worksheet to figure out a monthly budget. Ms. Bar divides it into absolute essential items, ie. Mortgage, Utilities, Health and Auto Insurance, etc. from those we feel are essential but really aren’t, such as High Speed Internet, or Higher Tier Cable/Satelite TV,
This is a book that in these days of tightening belts and budgets is an absolute essential to own. Ms. Barr makes complex ideas and concepts seem easy and the book is chock full of common sense ideas to save money that make you want to smack your forehead over not thinking of them yourself. She basically brings forth the old maxim of “living within one’s means”.
Living Well In A Down Economy For Dummies is Highly Recommended to all but those whose earnings are in the top 1% level. And even they could learn some things from this book.
Title: Living Well In A Down Economy For Dummies Author: Tracy L Barr Publisher: Wiley Format: Paperback Publication Date: 2008
