I was recently given a copy of Wealth Watchers: A Simple Program to Help You Spend Less and Save More for review. This is a fairly slender volume and about half the book is journal pages to log your expenses so I am actually posting this review on a fairly timely basis.
As you might have guessed from the title the premise of Wealth Watchers is applying the concepts of Weight Watchers to personal finance. Since personal finance and weight control are often compared the premise does seem reasonable. Instead of having daily points of how much you can eat you have a daily amount of how much you can spend. This is figured by subtracting your fixed monthly expenses from your monthly income and then dividing by the number of days. I kind of like this idea since I already keep track of my expenses but my income is too unpredictable to easily implement the daily spending amount. I could see this working for most people though.
The idea of this book is pretty simple. That isn’t a knock against the book since personal finance is pretty simple when you get down to the basics. The drawback is that you are not getting a lot of information for your money. The author does share her personal story in the first part of the book and that might be interesting enough for some to justify spending the money but for others you can get the basic idea of the book from reading a few review and probably won’t see any real need to actually buy the book.
1 thought on “Wealth Watchers : Book Review”
Having a list of your expenses is a tried and tested effective method if you want to spend less and save more. I’ve tried it myself and it actually worked! I became responsible on what I buy and before I notice it I’m already making sure that I spend my money on things that are important and worthy. Being able to differentiate wealth and rich/want and need is also essential if you want to become wealthy.