Review: Net Worth Workout

Finally! Thank God! I get a GOOD personal finance book to review. I thought I was never going to see one again. ;-)

But before I get into my thoughts on The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness, let me tell you a bit about it.

Book Overview

Imagine comparing your financial fitness to your physical fitness, and using the analogy all the way through a book, and you have The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness. I could give you more of an overview myself, but instead let's review what the book's PR materials say about it (it's just as good as what I'd say):

With The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness, the financially unfit and confused can immediately get moving towards a secure future.  Financial fitness trainer Susan Feitelberg puts the nuts-and-bolts of wealth-building in terms anyone who’s ever joined a gym or gone on a diet can relate to.  Combining her experience as a competitive triathlete with her expertise as a financial advisor for JPMorgan Chase, Feitelberg applies the language and core principles of physical health and fitness to the winning moves of money management.  Best of all, her virtual “fitness regimen” for finances works—as thousands of men and women who’ve gained confidence, peace of mind, and prosperity from her seminars can attest.

In The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness Feitelberg stresses, a winning mind-set is essential to success.  With the right attitude and a proven system, anyone can develop the discipline they need to build wealth.  “You can do this,” she tells every reader, regardless of his or her current financial condition.  Then, she shows how.

The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness presents a comprehensive program for financial self-assessment, prioritizing, goal setting, and gives readers all the tools they need to get started and follow-through.  Keeping with the fitness metaphor, the program revolves around savvy choices and positive changes in the four quadrants of financial health (a/k/a wealth).  Here’s an overview:

• Earning = Metabolism.  Maximizing earnings strengthens and speeds up the whole financial “body.”  Start by learning how to optimize today’s paycheck.          

• Spending = Calorie Intake.  “Junk spending” decreases wealth; nutritious spending boosts it.  Discover how to resist splurging and have more money for what matters.

• Saving = Strength Training.  Like weight lifting, smart saving builds “financial muscle”—so you can stay the course toward a stable, satisfying future.

• Investing = Cardio Fitness.  The heart of long-term financial health, investing delivers the stamina that drives all other parts of your financial fitness regimen. 

So there you have it. Financial fitness described in terms of physical fitness.

My Thoughts

Personally, I could do without the financial fitness/physical fitness comparisons throughout the book. It's a bit hokey to me and gets tired REALLY fast.

That said, the basic information in the book is REALLY good. It's a good guide for doing just what I'm trying to do here at Free Money Finance -- help you grow your net worth. Quite simply, the book is full of simple, practical, effective steps to determine and then grow your net worth, and I enjoyed reading it. It's basic personal finance, which is usually the best personal finance (money management isn't that complicated, after all.)

The book is written at an elementary personal finance level, so if you're a bit more experienced in managing your money, it may be boring for you. I liked reading it just as a review of the basics (I like to do that once every so often), so if you're the same, you should consider checking it out. Best of all, if you know someone who is just starting to get a handle on their finances, and especially a sports/fitness nut, then this book will be perfect for them.

The Free Money Finance rating for The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness (based on my 0 thru 10 rating system) is: 7 Stars.

Comments

Almost anyone that's picked up a set of weights has or will experience symptoms of over-training at one point in there muscle building program. Over-training is very common amongst athletes and particularly bodybuilders, since they figure that training as much as possible is the fastest way to massive muscle gains