The past week, I've been learning about Debt Free living, through the usage of a spending plan. While trying to figure out what book to listen to next, I stumbled across JoAnneh Nagler's book The Debt Free Spending Plan. This book has done a lot towards refining my personal outlook on my expenses. 

As I've mentioned before, I have finally started to consistently be able to pay down all my dues each month. Starting last year in October and November, I'd actually reached the point where I was able to begin saving some money in a savings account which I planned to use for emergencies. Unfortunately, it had been so long since I'd been saving regularly, that many little things kept popping up that I had to cover so my savings grew quite slowly. At the end of November I got serious about saving though and allotted $200 out of my pizza hut paychecks (paid out every other Monday) to go directly to my savings account. 

Now with this level of savings, I thought I was doing pretty good. But then I read JoAnneh's book and realized that I am not setting aside money for regular expenses each month, which is part of the reason I am continually challenged to keep money in my savings. JoAnneh maps out a step-by-step process by which chonic spenders can identify their routine expenses and their impulse expenses. Once these have been written out and broadly categorized, she discusses how to fit it to your monthly income. 
Now for me, I had already previously done much of this, although not in nearly so organized a fashion. But what really turned this book into a serious anti-debt powerhouse is JoAnneh's insistence on the usage of a simple but powerful tool that revolutionizes the entire industry of spending and budget plans. What is her secret weapon? Why none other than a handy dandy notebook. :) 
The Handy Dandy Note Book
Now of course, this is from Blue's Clues, so I guess my handy dandy notebook won't be quite so awesome. Nonetheless, it will definitely be a game changer. In the Debt Free Spending Plan, the most crucial part of following through on your spending plan is recording your daily expenses in your handy dandy notebook. Once you've spent the money allotted to a category, you stop spending further. In this way, you never spend more than you can afford. Additionally, each time you spend, you can see the impact on your overall spending for the month. As I am a kinetic and visual learner, the process of logging each expense will both drill home my current financial state and keep me well within my allowed expenses. 

Also of extreme importance is the relational impact of our finances. We are more relaxed when we have a plan of action and are not crimping and saving desperately (but blindly). This is incredibly true (I can think of times when I was quite unsociable due to being pinched financially and feeling forced into spending money...not fun). JoAnneh goes into great detail on how to work a spending plan with a spouse or partner, detailing the challenges and benefits. Among the benefits of building a spending plan with your spouse is improved companionship in all areas of life, including the bed chamber apparently.

The attention to detail throughout the book impressed me. Over the past 3 months I have listened to 24 books, 8 of them concerning personal finance and investing. While I am by no means an expert, I can state that none of personal finance books I have read have approached money management with such a practical, step by step method that anyone can follow and initiate in their own lives with little to no outside guidance.

I'm sure you can tell by now that I was quite inspired to put together my own spending plan. This was actually pretty simple as I'd already outlined most of my monthly bills and really just needed to get a handle on how much I am making each month and update some of the expenses. I am presently fine-tuning things, but I plan to launch my new spending plan on March 1st. I've already picked up a handy dandy notebook that fits neatly into my back pocket. Now I just need to finalize my budget (having the most trouble with figuring out how to allot my savings, trying to balance between investing, saving, and paying down additional debt).

In any case, for those of you struggling with debt and looking for a way to build a system that you can use to gradually grow into a life of frugality and savings, I'd definitely recommend JoAnneh Nagler's The Debt Free Spending Plan as your starting point. I'll be posting my own spending plan on this website and updating it periodically, so definitely check back in to see how I'm doing. 


04/15/2016 2:52am

It's wonderful you have upgrade it.thank you.I located this is an informative and also fascinating post.

07/26/2016 4:14am

The fast food for pizza hut is liked by many people. People often went to hut for eating of such pizza. Many people liked these they might get some free spending plans from saving account for the pizza. It’s give them chance for the more using of pizza hut.

09/12/2016 12:06am

Please, post your spending plan here! I'd like to look at it soo much!


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07/19/2017 2:05pm

A nice illustration of the ways the book ‘Debt Free Spending Plan’ teaches us to save our money and still enjoy our lives. Same as the writer, I will also keep the money saving strategies in mind and follow them.


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