Monday, June 8, 2015

The One-Page Financial Plan: A Simple Way to Be Smart About Your Money by Carl Richards

The One-Page Financial Plan: A Simple Way to Be Smart About Your MoneyThe One-Page Financial Plan: A Simple Way to Be Smart About Your Money by Carl Richards
My rating: 3 of 5 stars

I liked the overall message of this book, but to me there is one huge, glaring omission: an actual one-page financial plan! His advice on goal setting was great, and I completely agree with the idea that finance is less about complicated models and more about behavior. Dave Ramsey has said essentially the same thing, and I have found this to be true in business as much as personal finance. Money/finance is not about spreadsheets and numbers, those are just the outward appearance of the discipline. It is about emotion and behavior.

But back to my concern, the one-page financial plan. In several places he prescribes what to put on this plan. He advises on what kind of paper and writing utensil to use. It is the title of the book! Why then, is there not a rough template of an actual plan at the back of the book that collects the ideas and shows it to the reader in a sample format that works? To me, this makes a useful concept worthless, and I could barely get to 3 stars on this one.

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