All Your Worth Money Plan Review

All your worth money plan is a book written by mother-daughter duo who created the ultimate lifetime money plan. The book is called ‘All Your Worth – the ultimate lifetime money plan‘, this book is written for the middle class family struggling with managing their finances and provides tip on how to manage your money, save and dare I say invest too. This book prompted my recent post ‘the realistic budget that actually works‘ thanks to their 50-30-20 method which they introduced many moons again and is still as effective as it was back then.

Over the last 18 months, I have been hard at work improving my knowledge on personal finance and how I could make my money work for me in the long run. Whilst the focus of this blog has not changed, I have been sharing money posts from ways to pay off your debt, apps to help you track and save money as well as some of the books I am reading on personal money management. I do not claim to be a know it all but as I am learning I want to bring my readers along with me. Talking about money isn’t something that most people are comfortable with and would rather suffer in silence than share the battles with money and it shouldn’t be like that.

All Your Worth Money Plan Review

All your worth money plan is a book that I only stumbled upon accidentally during my research of different budgeting systems. I am still old school and love my trusty excel tracker that tracks my incomings, outgoings and what’s left is my saving/fun/investing money. I read up on the mother-daughter duo before I bought the book and I was curious to read up on their 50-30-20 plan and how it would actually work in my life. Thankfully for me, I was somewhat already following this plan because my essential outgoings were less than 50%, my wants were also below 30% and my savings were just a little over 20%.

When I started reading all your worth money plan, I found it to be an easily digestible book with enough information to give you direction and build systems that support you on your financial journey. What I love is that throughout the book, they have case studies which some I recognised with and others I am glad I did not but what was important is that each had a solution tailored to them. Often when we read money books, we find that is we can not relate to what they are talking about but all your worth is different and tailors itself to the middle class where most of us fall into.

The book is split into two sections: steps to lifetime of riches and powerful tools. For the purpose of this review, I will focus on section 1 which covers the 6 steps of lifetime of riches which covers everything to help you manage your money, pay off day, save and enjoy.

Step One: Count all your worth

This section is exactly as it says, count all your worth meaning you need to know all the money that you make from all sources. If this is just your one income from your job then that is that but if you have side hustles as well or another part-time job then its counting all your coins from these side hustles and putting it together. Another concept introduced in this section is the 50-30-20 rule which covers 50% goes to your must haves like rent/mortgage, 30% to your wants like Netflix, shopping and 20% to your savings or paying off debt.

Throughout this section, the books helps you get an ideal of your financial standing – are you allocating the right amount to each of the three areas of your life. Is the must-have consuming all your bills or its your wants that are taking everything? Are you struggling to save money or figure out where your money goals, how to cut expenses, how to pay off your debt and save money? Throughout step one, you are asked to calculate your

Step Two: Escape From the Thinking Traps

We all suffer from thinking traps when we are presented by varies situations in our lives especially when it comes to money. Often people will think ‘but I don’t make enough money‘ to cover all my bills, my area is too expensive, these days everything costs more than when I was young (hello inflation). The important thing is to remember all your negative traps and replace your negative from ‘I am not good with money or I can’t understand money‘ to I want to learn how to handle my money better. It is important to make a commitment to yourself and also remember your financial goals and why you are doing what you are doing.

Step Three: Count the Dollars (Pounds) not the Pennies

Sometimes when we start looking closely at our money spending habits we get side tracked by penny pinching when the important thing is to focus on the bigger things instead of the pennies. If you have allocated your money correctly, you won’t need to be concerned about buying two lattes every other week instead of moving that money to your savings. What is important to remember is you need to allocate money for fun and you shouldn’t stress yourself about how you spend your fun money.

Step Four: If you can’t afford fun, you can’t afford life

This is one statement that took me by surprise but is so true, it is so important to allocate fun money in your budget by setting clear targets and limits. Spending is most fun when you can afford it, aka when your money is in balance (i.e your bills are paid, savings are filled) and there is money for you to enjoy (buy your lattes, makeup and whatever you fancy without guilt). It is easy to manage you manage if you use cash than swiping left right and centre.

Step Five: To Build your future by paying off your past

This is a concept I only came to know and appreciate after I read this book because it is so true. In order for you to build a future, you need to pay off your past and what this means is that – pay off your debt so that your future is not weigh down by your past debt. Paying off your debt is the most important investment you can ever make for your future. Debt is dangerous especially since more often than not debt is a legal obligation that you definitely need to pay off. The best way to pay off your debt is to create a repayment plan and whatever you do, do not consolidate your debt with a consolidation loan. Remember – debt steals from your future.

Step Six: Build Your Dreams a little at a time

When you pay off your debt, it is so much easier to build your dreams because all your money will be focused on building a better future and saving for a rainy day. One of the best ways to build your dreams is to invest in your pension plan, invest in stocks, build an emergency fun (about 3-6 months works of your monthly bills) and make sure you always have money in your account (it could be £500 or £100) so no unexpected bill ever bounces and one of your future dreams could be paying off your mortgage.

All your worth money plan is an incredible book that I recommend everyone should read whether you have your money in balance or not.