This post is part of my review of Smart Couples Finish Rich by David Bach. I had planned to go through the whole book and talk about the main points of each chapter in a separate in depth post – however I’ve pretty much lost interest in that idea so I’m going to review chapter 3 today, since the post was already written and I will review the remainder of the book in a separate post.
The first part of this chapter is about organizing your finances – first go through all your paperwork and figure out what you own and what your debts are. Then organize every other aspect of your life as well.
I would tend to agree with this advice although he advocates a pretty radical re-organization of your life to get everything organized perfectly. As most people who have tried to organize at least part of their life know, it’s not the organizing that is the hard part (if you are motivated) but rather the ability to keep things organized that is the hard part. Coming up with a good and logical system that doesn’t require too much work, is the key for keeping yourself organized. He also mentions that the less “stuff” you have, the easier it is to organize it and keep it organized so purge, purge purge! For more tales of organizing, check out Tim’s interesting posts on his own organizing challenge at the Canadian Dream. Post 1, post 2, post 3, last post.
The next bit of advice he has is to write down your goals – people who write down their goals are more likely to fulfill them.
I like to write short term “to do” lists but I don’t really have any “goals” written down although I do sort of have an investment policy which is not written in stone (or anywhere else for that matter). This seems like a good idea but personally I think if you want to achieve something, I don’t see how writing it down will make much of a difference. Maybe if you have a bad memory then writing it down might help? On the other hand I’ve been posting (writing down) about my weight loss goal and I’ve found that I’ve been pretty motivated. Now, whether that’s because I wrote it down, or I’m doing weekly public updates or because I’m just motivated is impossible to say.
Want to learn more about RESPs? Buy The Book:
The RESP Book: The Simple Guide to Registered Education Savings Plans
Everything you need to know about RESPs.