My 5 Favorite Things In: The Money Therapi$t

I feel as if I’ve been writing a lot lately on the importance of money matters. To that end, I’d like to tell you all about The Money Therapi$t by Marcia Brixey, another how-to from the always-awesome Seal Press. Not necessarily geared toward freelancers in particular, it does take you step-by-step down the path of financial soundness, an always-necessary foundation for a healthy business. Check it:

1. Worksheets Included:

The beginning of The Money Therapi$t includes areas in which to write in your financial goals and action steps, and the impetus behind your efforts to change. For example, writing out that, “I want to buy a house, I want to have children, I want to pay for coaching certification, I want to stop commuting to NY, I want to open my own practice, I want to stop worrying” helped me to realize what was at stake. And writing down that I had to, “become debt-free with $1K a month, research career centers, research educational loans, put 40% of each paycheck in ING, put $1K a month in ING once credit card debt is paid off, roll over 401K to IRA, organize files” made everything seem much more manageable. The appendix also includes worksheets that allow you to track your monthly expenses and inventory your assets and liabilities.

2. Step-By-Step Clutter-Busting:

Brixey actually goes quite in depth into the steps necessary to make sure your financial files are in order. She lets you know what’s safe to toss and what you should keep, and which important documents you should probably keep in a fireproof lock box.

3. How To Decipher Your Credit Report:

After letting you know where you can score your own free credit report, Brixey goes into what you should be looking for once you receive it, and what can make a credit score bad or good (such as hard v. soft inquiries). She also tells you where to go to correct any inaccuracies on your report.

4. Ban Junk Mail From Your Mailbox:

Aside from being a pain in the ass, junk mail and unsolicited credit card offerings pose an actual danger, in terms of providing shady types with the mans to steal your identity. The Money Therapi$t lists phone numbers and sites such as this one and this one that allow you to opt out of receiving these things. Then you learn how to reclaim your identity if these measures do not work.

5. Be Prepared for the End, or Perhaps Just a Disaster:

Obviously, none of us really likes to contemplate the end of our lives, especially in excruciating detail, but being sure the ones you leave behind are prepared is important. Brixey lists all the pieces of information you should write out for your next-of-kin. After you’ve got that taken care of, stick it in your lock box! What else should go in that lock box? A household inventory, for insurance purposes. This can be an overwhelming proposition, but Brixey suggests several ways to accomplish this, and even points readers in the direction of professionals who can do the job for you.