Whether you are just starting out as a family, or the kids are already in school, there is a lot to be learned about managing the finances of a family. There are so many troublespots that families face, and few places to go for advice. We were very excited to come across a book that dealt with family finances and ended up really liking this book. The approach was fresh and different and there is a lot than can be learned here.

The book starts off with the basic premise that a family is a business. Manage it properly and everything will fall into place financially. Fail to do that and you could be facing a lot of financial hardship. Since money seems to be the number one thing that many couples argue about, this is a great starting point for the book. We liked the concept of looking at our family as a business and this really encouraged us to look at our own lives a little differently.

Each succeeding chapter covers how to set up a “board of directors,” and how to structure your new business for success. Vital tips are provided on how to manage money and keep the peace, as well as handling cash flow. There are truly few books that go this in depth into handling the everyday financial problems of a family, and this one contained some of the best advice we’ve ever come across. By following these steps, you can almost guarantee a reduction in money squabbles and an increase in your family’s bottom line.

Chapters five and six are of particular interest to those interested in investing. It covers how to handle forecasts, how to start planning for retirement and how to get everyone on the same page when it comes to handling these investments. Re-read these chapters a few times – they are truly worth it.

Chapter eight should also be added to the fridge – this one tackles debt, how to handle it and how to use it to your advantage. The second section covers several real life issues affecting families, such as expansion, buying a new home and building an emergency fund. This is truly real world advice that will benefit every family.

Overall, we truly enjoyed this book and would highly recommend it to anyone. Although the tips will be easier to implement for those just starting out, there are still many that can be used to turn a family’s finances around. We appreciated the strategies given in the book and the way that the authors organized everything so that the tips were easy to follow.

If you know a couple that is getting married soon, or one that is struggling with money matters, this is by far the best gift that you could give them. If there ever was a blueprint for financial happiness, this book comes as close as possible. Everyone can definitely learn something within its pages.

Originally posted 2008-09-26 05:37:43. Republished by Old Post Promoter

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Book Review, Personal Finance

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board of directors, bottom line, Cash Flow, cfo, chapter eight, christine larson, couples, family finances, financial hardship, fridge, great starting point, how to manage money, investments, new business, peace, premise, retirement, squabbles, tackles