Talking about changing, thinking about changing, dreaming about changing, noting all the changes you want to make are all potential forms of resisting change. These ways of thinking about change might seem necessary, but they actually hold you back from doing the one and only thing that makes change happen – observable and repeatable action.
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In a nutshell
Small Changes for Big Results is a collaboration between Warren Ingram and Marc Rogatschnig. In this book they combine their respective experience with financial planning and behavioural psychology to bring you a practical guide on how to change your finances one step at a time.
Book Club Notes
I read Warren’s Become Your Own Financial Advisor a few years ago and really enjoyed it. He has a wonderful way of presenting financial advice without it coming across as judgy, arrogant or too difficult to grasp.
I wasn’t familiar with Marc going in, but I have always been interested in psychology and Marc’s perspective along the way was astute and helpful. Breaking down each case study and viewing it through the lens of behavioural change, added a rich layer to the narrative.
Despite this clearly being a book about money, I found it to be so much more about change and habits that set you up to live your best life. Finances are a big part of that, but it is our daily behaviours – compounded over a lifetime – that sets us up for success or failure.
There are so many great tips in this book but I am choosing to share their tips on creating a spending plan. Step one is something that anyone can start doing right away.
How to create a practical and personalised spending plan
Track your daily expenses for a month
Reduce your unnecessary expenses until you spend less than you earn every month
Repay your debt (start with debt that attracts the highest monthly interest)
Set up your emergency fund (Enough money to cover your monthly expenses for 3 months)
Start investing
Invest enough money to cover your monthly expenses
Read If
You want to improve your finances and life but don’t know where to start.
Rating
Writing – 8/10
Applicability – 9/10
Timelessness – 9/10
Shareability – 10/10
The Nitty Gritty
Published by: Penguin Random House
Genre: Non-Fiction, Self Help, Finance
ISBN: 978-1-77639-149-3
Pages: 179
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A note on our book ratings
Readability: How easy is it to read and understand what the author is saying? Do you need a dictionary or PhD to understand it?
Writing: How well written is the book? Do you find yourself wowed by the writing or unimpressed?
Applicability: How applicable is this book to daily life? Is there enough advice and actions that are easy to start applying?
Timelessness: Is the content of the book timeless or is it something that in a few years won’t have relevance?
Shareability: How likely are you to share the book?
