Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    The Book On Money Management: Learn the 3 Secrets of Money Management
    The Book On Money Management: Learn the 3 Secrets of Money Management
    The Book On Money Management: Learn the 3 Secrets of Money Management
    Ebook131 pages2 hours

    The Book On Money Management: Learn the 3 Secrets of Money Management

    By Curtis Banks and Raymond Aaron

    ()

    Read preview

    About this ebook

    Early in my career I was not prepared to manage my money. I was making a very good income yet I was spending more than I was making and my debt was growing year by year. I had part-time jobs to make ends meet. The more money I made, the more I spent. After 10 years of financial hardship, I decided that there has to be a better way. I decided that my family and I deserved better.

    I spent the next 25 years developing and using this system to manage my money.

    I wrote The Book on Money Management to:
    • Reveal the 3 Secrets of Money Management
    • Teach you how to get out of consumer debt and stay out
    • Show you how to build a foundation for wealth
    LanguageEnglish
    PublisherBookBaby
    Release dateOct 10, 2017
    ISBN9781772771879
    The Book On Money Management: Learn the 3 Secrets of Money Management

    Related to The Book On Money Management

    Related ebooks

    Personal Finance For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Baby Boomers Have Financial Superpowers

      May 8, 2018

      Albert Einstein is credited with saying that compound interest is "the most powerful force in the universe." I would add that education, combined with the miracle of compounding, may be the real power we are seeking. Who can have this superpower?

      3 min read

    • Article

      Manifesting Magic In 2021

      Dec 20, 2020

      I’m a big believer in putting what you want out there by having an abundance mindset. It’s worked well for me over the years, surprising me time and time again. And what better way to approach 2021 and the start of a new year. Good digital editor Hem

      2 min read

    • Article

      Financial Knowledge Is Power Only If You Apply It

      Mar 6, 2021

      ONE of my favourite sayings is “Financial literacy, just like weight loss, isn’t dependent on one thing. It’s 20% education and 80% your action.” A year into the Covid-19 pandemic, I’m reminded of a young woman I interacted with a few months before S

      3 min read

    • Article

      Can You Think Your Way to Wealth?

      Dec 2, 2020

      For an extraordinary high achiever, such as NBA legend Michael Jordan, you could reasonably attribute his success to one of many things. His famous work ethic. His high basketball IQ. His shoes. But to His Airness himself, it was the result of a rele

      4 min read

    • Article

      Pay Yourself First

      Feb 17, 2020

      This is a saving and investment principle that comes from the George S. Clason book, The Richest Man in Babylon. It merely states that before paying others, you first have to pay yourself for the month’s hard work. This is one of the golden rules of

      1 min read

    • Article

      Discover The Power Of ‘Enough’

      Apr 28, 2022

      It was a warm spring day on Shelter Island, New York, when two renowned authors, Kurt Vonnegut (Slaughterhouse-Five) and Joseph Heller (Catch-22), found themselves at a party at the palatial second home of a hedge fund billionaire. Perusing the opule

      3 min read

    • Article

      When Athletes Go From 0 to 60: Managing a Sudden Influx of Wealth

      Feb 21, 2019

      Professional athletes who manage wealth wisely understand it requires budgeting, planning, financial analysis and trustworthy experts in your corner. I tell my clients if they can be as disciplined with their money as they are with their athletic tra

      3 min read

    • Article

      Insider Tips

      Jul 9, 2020

      Insider Tips
      1 min read

    • Article

      TOPIC INSURANCE plus INVESTMENT

      Oct 15, 2020

      Not so long ago, I wrote an article about Reasons Why Every Filipino Should Invest in Insurance in my personal blog page (www.jessaminesanchez.com). Yet my initiative is succinct, I had not yet given further emphasis about the other benefits of buyin

      4 min read

    • Article

      Know Your Money Personality

      Oct 13, 2021

      Know Your Money Personality
      1 min read

    • Article

      Daredevil Who Plays It Safe

      Jul 28, 2021

      Daredevil Who Plays It Safe
      5 min read

    • Article

      Income Is King

      Sep 4, 2019

      Income Is King
      18 min read

    • Article

      The Profit Multiplier Strategy + Innovation

      Jun 26, 2019

      The Business Tornado, driven by the four buyer forces unpacked on page 4, is further impacted by a business landscape littered with low-growth or no-growth markets that are impacting the ability of companies to deliver sustainable profits. Profitabil

      2 min read

    • Article

      How To Get Rich In 2024

      Jan 23, 2024

      How To Get Rich In 2024
      8 min read

    • Article

      All About Wealth

      Sep 3, 2020

      All About Wealth
      1 min read

    • Article

      Boost Your Resilience

      Oct 30, 2019

      Boost Your Resilience
      2 min read

    • Article

      Smash Your Debt

      Oct 30, 2019

      It might seem counter-intuitive, but if you’re wealthy and paying off your home you’re likely to be in serious debt. The latest stats from the Australian Bureau of Statistics (ABS) show 29% of households are over-indebted. Worryingly, almost half of

      10 min read

    • Article

      What’s Your Money Personality?

      Mar 20, 2020

      What’s Your Money Personality?
      2 min read

    Related categories

    Reviews for The Book On Money Management

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      The Book On Money Management - Curtis Banks

      Author

      CHAPTER 1

      My Money Management Journey

      Introduction

      My journey to personal financial success started when I became fed up with being broke. After 10 years of working and earning money, I came to a realization that all I had was expenses and liabilities. I was in a situation that most of my friends shared in common. I had a job, but I was broke month after month; in fact, I had two jobs. I had expenses that exceeded my income and had created considerable debt.

      I found that the more money I made, the more I spent. I created more monthly expenses and more debt. Does that situation sound familiar to you? When I began the journey of looking for a better way to manage my money, there were no clear answers that I could find. I read books, tried budget planners, and even created budget spreadsheets. I noticed the lack of comprehensive education on money management that was available during that time.

      Over the 10 years, I had earned an average of $20,000 per year. Today, that does not sound like much; however, back then, it was a good income. Even more significant, I multiplied that $20K times the 10 years, and it amounted to $200,000. Over the 10 years, I made over $200,000; that is a lot of money. At the end of the 10 years, I had ZERO of it left. In fact, I owed money to creditors and my expenses exceeded my income.

      Two questions for you:

      What was your average income over the last 10 years?

      Your answer: ______________________

      How much of it do you have left?

      Your answer: ______________________

      How does your answer make you feel?

      If you like your answer, congratulations!

      If you don’t like the answer, are you ready to do something about it?

      At this point in my life, I became fed up. I was sick and tired of being sick and tired. I was making the same financial mistakes over and over again. I made up my mind to make whatever changes were necessary to become a better money manager.

      I realized that my family and I deserved better! I worked really hard to earn the money I made, only to mismanage it! I then realized that I needed financial education. Money Management was not generally taught in K–12 schools or universities. At that time, very few universities or continuing education institutions offered personal finance classes. During basic training in the Air Force, I attended a mandatory class on personal finance. The Air Force class was very insightful and helped me to understand choices available to get better results. Otherwise, I had not taken any classes on money management.

      I began to read lots of books, and used budgeting workbooks, software, and controlled experimentation to improve my chances of success. Each book and experiment improved a piece of the puzzle, but none of them provided a full solution that worked for me.

      It became apparent to me that there wasn’t a comprehensive book or a system available in the marketplace. To me, this was a big gap and a problem that needed a solution. I then began to chart a course by learning from my experiences, and the experiences of others, in order to develop a better plan. I experimented and began creating a system that would work for me.

      I set out to improve my understanding of money management, increase my vocabulary of key financial terms, and develop a system to produce the results I desired.

      After many years of trial and error, the system produced outstanding results. I began to save and added assets to my portfolio. In addition, my expenses and liabilities were held to reasonable levels. I am very pleased with the results. Over time, I have created a foundation for wealth that will be available for generations to come.

      Why I Wrote This Book

      I began to think that if the 3 secrets of money management worked for me, it could work for others. So, the journey to write a book, and provide training to help you improve your financial situation, was started. This book is the culmination of many years of trial and error. This book is intended to share with you what I learned, to help you get better results.

      I wrote this book to be a guide for you and the millions of people who work hard every day to earn money to provide for their families. This book will provide you with education, principles, and practices to help you become money smart. It has worked for me, and I believe it will work for you.

      The typical person will work 45–50 years, earning money. Many will attain degrees and/or training certificates to increase their earning potential, yet they don’t spend much effort on learning how to manage the money they work so hard to earn. Without a basic foundation of education on money management, the average person doesn’t stand a chance of achieving financial success.

      This book is for you if any of the following are true:

      You make a good income, but you are living paycheck to paycheck.

      Your expenses exceed your income, month after month.

      You are deep in debt and cannot see a way out.

      You have been earning income for more than 10 years but have less than 10% of your annual income saved.

      You are within 20 years of retirement age, but have less than 7 years of your annual income set aside for the future.

      This book will provide you with insights that you can use immediately to change your financial results.

      How to Get the Best Results From This Book

      This book will focus on transforming the way you approach money management. My intent is to show you how to achieve significant improvement in your financial outcomes. With my approach, you can avoid the financial traps that plague most people. People fall into financial traps due to lack of knowledge and understanding of a better way. Without knowledge and understanding, you are likely to fail.

      I have a three-step guide for how to get the best results from this book and anything you choose to do. These three steps may seem simple; however, they work! Initially, you might resist applying these three steps. I encourage you to break through and do it. The more you apply these three steps, the better your results.

      The three steps are:

      Learn the rules. Most things that you choose to engage in have rules. If you intend to be successful, win, or get a good result, you must know the rules. Sports is a great example. If you have played any sport, you know that winning or losing can depend on your knowledge of the rules. Your finances are the same way. You may not have looked at it that way. If you don’t know the financial rules, you have a low probability of winning. By winning, I mean keeping a significant percent of the money you make.

      Understand the rules. Knowing about something is not equal to understanding how to apply it. Most people know about personal finance and money management. Just ask them and they will tell you. However, they may not understand how it all works to create a winning game plan. It is the lack of understanding that can create a barrier for most people. Do the research, get training, and get a mentor to understand the rules.

      Practice using the rules. Your skills and abilities improve with practice. Just like with sports, your money management skills and abilities will improve with practice. Take basketball, for example; knowing how to dribble the ball does not mean that you are good at it. You have to dribble the ball to become good at it. Pick one topic at a time that you are willing to commit to improve the results you are getting. Do the research to understand the rules. Take steps

      Enjoying the preview?
      Page 1 of 1