Thursday, February 8, 2018

Book Review: 'Brilliant Budgets and Despicable Debt' by Heidi Farrelly

Australian author Heidi Farrelly grew up in New Zealand where her family was not well off ‘and as she got older she was terrible with money. Over the years she has learnt to adapt to what life throws at her, and be savvy with her money. This life long battle has morphed into an understanding and knowledge of money, and finance as a whole, that she doesn't think people who grow up with a bit more can usually empathize with. After travels in England and Europe she settled in Australia and began writing her popular series on down to earth economics – Mortgage Free, $mall Change – Big Reward$ to include 'Debt', 'Save', 'Spend', 'Invest', and 'Retire' thus far.

As Heidi lays out her plan for action she writes, ‘Budget: $mall Change - Big Reward$ will walk you through multiple ways to budget, including how to NOT budget and still save money, and most importantly, how to incorporate a budget into your life so it becomes, not a time sucking burden, but a true resource. It can help you write and stick to a budget - no matter what area you’re struggling with. And especially if you’re struggling with ALL these things!’ Encouraging words form the beginning.

Heidi approaches the subject of budgeting as follows - What are Budgets and Why Should I Use them? Aren’t They an Old Person Thing?; Why People Don’t Budget: Confronting Mindsets and Beliefs; Why Most Budgets Fail and How to Make Yours Work Even If You Suck at Budgeting; Budgeting and Goals. Same-same but Different; Traditional Budgets: Old Tricks, New Dogs; Non-traditional Budgets: Fresh Ideas for Modern Lives; There’s an App for That! Technology and Budgets; F for Finance. Unusual Budgets From a Mad Mind; Non-budgets: Budgets Without the Budgeting; What’s Your Type? Which Budget Suits You Best?; I’ve Got a Budget. Now What?; and finally, Tips and Tricks – the Keys to Success.

This little treasure book is filled with practical advice that must be digested and incorporated into your current financial situation. The big difference here is that Heidi keeps it light though serious and makes statements such as ‘It is better to save less over a longer period, than to save more for a short period and then give up. Make sure you are saving at a sustainable level.’

Read and study and incorporate Heidi’s concepts and watch your financial picture alter – for the better. This book is a wise investment. Grady Harp, June 16

Editor's note: This review has been published with the permission of Grady Harp. Like what you read? Subscribe to the SFRB's free daily email notice so you can be up-to-date on our latest articles. Scroll up this page to the sign-up field on your right.