SUBJECT: Smart Couples Finish Rich Analysis
I would like to follow up with your inquiry made during last week’s meeting regarding David Bach’s Smart Couples Finish Rich. I have since completed reading the book and will present and discuss several of the author’s major insights which I believe will be most beneficial to you.
Bach presents the content of his book in a 9 step process which results in a financially successful future for couples. The book is part personal finance and part relationship counselor. It discusses how money can often be the root of many arguments for couples and how to avoid this problem by working towards a financially secure future together. I will discuss the following the three most important points in Bach’s book and why they can be so valuable to implement into your life: * Be open with your partner with regards to finances and work towards goals together * Small frivolous spending is what keeps many from becoming rich * Start early in building your retirement fund
An early step in Bach’s process is “Plan Together… Win Together” long term planning with your spouse and developing a system which you can assess your goals. This entails keeping track of financials and establishing a common ground between the couple. This is very important so you can establish a benchmark system so both spouses can work together in accomplishing their set goals.
One of the easiest ways which you can prevent yourself accomplishing your financial goals is by frivolous spending. Bach uses the example of a latte to show how seemingly miniscule purchases can add up and have a large effect on your financial health. Bach recommends recording all of these purchases in a single week (both partners) in order truly see