“Living in the Village” by Ryan C. Mack, 2010, St. Martin’s Griffin, $14.99, 302 pages, includes worksheets.
Money work for you and for your community and in his new book, “Living in the Village,” author Ryan C. Mack explains how.
Mack says that there’s no time like the present to educate yourself about managing the money you earn.
To begin, he urges readers to track their spending – every penny – and see where the money goes. Be truthful, he says, when looking at spending habits, then learn how to make a budget you can stick with. It helps to set goals and to understand how millionaires shop.
He also teaches the pitfalls of spending, why you shouldn’t use an ATM, and why those rent-to-own places will put a serious hole in your wallet.
Becoming knowledgeable about insurance and making sure you have enough of the right kind is also important, he says. This should lead you into planning an estate for those you leave behind someday – including family members, charities, and any pay-it-forward groups you want to endow.
Though you shouldn’t be using credit cards indiscriminately, the wise use of credit is important for your financial future.
Your FICO is key, and Mack explains how you can raise that number. He also explains how to get rid of high-interest debt by negotiating with creditors and knowing your rights.
Boosting your workplace retirement fund, setting up an IRA for your retirement and learning the smart way to purchase a car or house are also on the agenda.
Tired of being broke, or close to it? “Living in the Village” can set you on a path away from poverty, but – as you’ve probably guessed – it won’t be easy.
Mack writes with clarity, and his step-by-step explanations are do-able for anyone who wants to get his or her economic house in order. He’s thorough, too, and covers all bases in this book, although that may be overwhelming for anyone who’s starting from financial scratch.
Still, Mack does some hand holding and offers enough personal support to keep his readers from becoming discouraged. It’s also helpful that he targets specific groups (religious leaders, parents, the formerly incarcerated, and so on) with specialized tips most useful for them.
If you’re ready to put your money where your future is, or if you want to set a good example for your children, “Living in the Village” may inspire you. Then get ready to be prosperous. Haven’t you earned that?
The Bookworm is Terri Schlichenmeyer. Terri has been reading since she was 3 years old and never goes anywhere without a book. She lives on a hill in Wisconsin with two dogs and 12,000 books. Her self-syndicated book reviews appear in more than 260 newspapers.
