The Personal Finance Squad was formed as an offshoot from I’m Not Flipping Burgers When I’m 70, a Personal Finance book for people without specialized knowledge in budgeting, debt management and tools to save for the future. The book was written in 2005 and has been revamped to account for the present, and can be read in text form and the more granular video instruction. In addition, there will be several videos beyond the video-book instruction to further bolster your knowledge and success.
The book/video instruction is broken up into short, detailed excerpts in chronological order guiding you step by step through unique and proven money management steps. Additional budgeting exercises will engage you to carry out 12-month planning for every expense such as gasoline, groceries, day care, hobbies, gym membership, child care, rent/mortgage, credit cards - anything that will be included in your budget.
You will follow Jasper, a 28-year old single father who joined the Squad and builds his budget from scratch and develops a three-year plan that with his disciplinary approach reduces his debt and increases savings for the short and long term as well as an Emergency fund. Ultimately this leads him into purchasing a home which is Section III of the instructional set of videos. **(Coming Soon)**
Budget Exercises / Templates
In addition to the the book on PDF and video, there are Budget Exercises for adults and students to create or modify the budget that goes in tandem with the book material. There also Budget Templates to use in creating the budget for a 12 month cycle including a budget template worksheet. The templates are automated to calculate values based on user inputs.
Budget Planning for Adults
Regardless if you have a budget, this will entail having to look at credit cards and bank statements to capture spending habits and expense categories. More than likely this means that you will have to reexamine who and what you are paying for such as the cable or phone bill and groceries etc. There are exercises for all main expense items, debt reduction, savings vehicles and spending money to align with the material.
Budget Planning for Students
You can do this on your own and this may be taught by an instructor in school. More than likely you have not have budgeted due to the stage in your life or for a full-scale effort. The budget exercise will be simulaton-based in that you will perform many of the exercises that adults do but you will not actually be buying or purchasing services from companies. This applies to many things such cable or phone bill, auto isurance, taxes from a paycheck and so on. For example, there is a grocery bill exercise that includes creating a food calendar and shopping list and going to the store to simulate or purchase items if you have money to do so.