Financial Fitness – Book Review

Recently, I finished reading Financial Fitness – The Offense, Defense, and Playing Field of Personal Finance for the second time.

The first time I read it was for school and I was in 10th grade, so the principles were not super applicable to me.  Now that I’m 19 years old and getting closer to living on my own, I resolved to read this book again.

I personally think that EVERYBODY should read this book.  Seriously.  If you could only read one more book in your life besides the Bible, READ THIS BOOK!  It’s so worth it.  You won’t regret it.

The authors, Orrin Woodward and Chris Brady, divide the book into four sections:

• The Basics
• Defense
• Offense
• The Playing Field

Each section adds on to the previous sections and teaches the reader how to become financially secure.  To be financially secure means you have NO debt and you’re in control of your finances.

Additionally, woven throughout the book are 47 Principles that are meant to be thought about, discussed with your spouse and or mentor, and applied immediately.  At the end of every chapter, the reader(s) are strongly encouraged to write out their plan for implementing the principles outlined throughout the chapter and put that plan into action.  Writing out your intentions makes it easier to apply them and act upon them later.

Let’s delve deeper into the sections:

The Basics

In this section you are taught the first 7 core principles that lay the groundwork for the rest of your financial plan.  You are taught to create a savings account that is not to be touched, and also to create an emergency fund for unexpected expenses that may come your way.  It isn’t just a list of principles and rules however.  The book is filled with reasoning that is easy to read and understand to explain why following the principles are the best way to live.

Defense

This section is packed with solid ideas and proven methods to play defense when it comes to finances.  To play defense is to make sure you keep more of your money.  Becoming financially fit requires that you stop the unnecessary outflow of money from your household in order to keep more of it!  Specifically, this section explains how to get out of debt quickly because that is a HUGE part of defense!

Offense

Next, the authors show you some ways to increase the income coming into our household so that living financially free becomes easier.  This is where this book (the main part of the Financial Fitness Pack created by Life Leadership) is vastly different from other debt reduction programs.  This is the only financial program that I know of that offers offensive strategies!  Think about it.  In any sport, playing defense exclusively does not help you win the game.  You MUST learn to play offense or you will never win – and life is no exception!

The Playing Field

Lastly, the book discusses the playing field of personal finance.  This is where stocks, bonds, tips on real estates and other investments, and important economics facts are discussed.  To be financially fit, knowing the rules of the game are ESSENTIAL to your success!  You have to be educated in the world of finances if you want to succeed in that area.

One Final Tip…

The biggest thing Woodward and Brady made clear in their book throughout every one of the sections was this:

If you want to see results using this program and its principles, YOU HAVE TO IMPLEMENT THEM.

I know it sounds crazy, but if you don’t do anything with the information you’ve been given, you won’t gain anything.  You have to act in order to receive the benefits.

Just because I KNOW that eating carrots, tomatoes, and apples as well as working out regularly will keep me healthy doesn’t mean I will automatically be healthy.  The fact that I KNOW it doesn’t do me any good unless I ACT upon that information by eating those foods and working out!

The same goes for your financial fitness.  Just because you KNOW the principles doesn’t mean your financial problems will be solved and you will instantly be out of debt.  You have to ACT upon your knowledge of the principles by implementing them into your life!

Knowledge ISN’T power.

Knowledge ACTED UPON is.