Get Good With Money Summary
Get Good with Money, the book by Tiffany โThe Budgetnistaโ Aliche, is a financial literacy guide designed to help readers become financially whole. The author, an award-winning financial educator, shares her 10 simple steps for becoming financially fit.
The first step is budgeting, which includes setting up the right bank accounts and automations. The second step is saving like a squirrel, which means having enough in savings to cover at least three monthsโ worth of expenses in case of emergency. The third step is getting out of debt, which requires knowing the amount owed and creating a plan for repayment.
The fourth step is to score high, meaning making sure to request your free credit reports from TransUnion, Experian and Equifax, and striving for a credit score of 740 or higher. The fifth step is to learn to earn, which involves investing in yourself and taking on a side hustle.
The sixth step is to take stock of assets, where you should work with an attorney to figure out where theyโll end up. The seventh step is growing richish, where you need to calculate your net worth and make a plan to increase it. The eighth step is picking your money team, meaning having the right professionals on your side. The ninth step is leaving a legacy, which involves making plans for what will happen to your assets after youโre gone. The tenth step is to keep learning, so that you can stay on top of the ever-changing financial landscape.
Tiffanyโs tips hit most of the financial basics that many Americans didnโt learn in school. With her advice, readers will gain the tools and knowledge necessary to become financially whole.
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