Book: 101 Budgeting Principles

Author: Michel Cagan

If the word "budget" makes you uncomfortable, this is the book for you. Old financial advice suggests that budgeting involves continuously tracking expenses, cutting costs to the point of austerity (and usually depriving you of all enjoyable things), in addition to a lot of calculations. Of course, that sounds boring and frustrating, and absolutely no one (not even me) wants to do that. But budgeting doesn't mean sacrificing things; it means making trade-offs. A budget is a plan you make for your money, allowing you to control your finances so you can get all the things you want, whatever they may be. You can design your budget according to the goal you are pursuing in life, whether that goal is financial security, the freedom to quit your job and travel the world, or securing the resources needed to buy your dream home and start a family. The essence of budgeting is to create a roadmap that achieves financial security and prosperity, and this may sometimes require reducing expenses (especially those from which you gain no benefit); but it will later create the possibility of making significant life changes (such as buying a home). It's a way to wisely use your resources and turn them into wealth in the future.