Summary of Wealth Watchers

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Wealth Watchers book summary
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Rating

8 Overall

9 Applicability

6 Innovation

8 Style

Recommendation

In 2000, estate-planning attorney Alice Wood suffered a serious brain injury. It affected her ability to think clearly and harmed her marriage, her law practice, her weight, her life – her entire ability to function. As she recovered, money became a major issue for her and her husband. When she joined Weight Watchers to try to slim down, she realized that its careful, day-by-day approach was an excellent model for a personal financial control program. That’s when she developed Wealth Watchers. In their first year on the program, Wood and her husband cut their expenses by $12,000. She explains her simple, sensible tactics: List each cost, establish a budget and cut back on unnecessary purchases by exercising daily discretion. Her suggestions about saving money, buying insurance, putting aside retirement funds, budgeting for college, and so on, are very practical. getAbstract recommends this excellent book as a useful guide to getting the most out of your budget, husbanding your earnings and managing your money. If you don’t yet have wealth to watch, she tells you how to save so you can accumulate some.

In this summary, you will learn

  • How to manage your money
  • How to leverage a daily discretionary spending limit to control your budget
  • How to cut some common expenses
 

About the Author

Alice Wood, a former estate-planning attorney, heads a financial literacy company she started in 2005. She lives with her husband and children in Naperville, Illinois.

 

Summary

What Can You Afford to Spend?
People don’t save as they once did. The savings rate for most Americans is close to zero and many people are deeply in debt. If you want to achieve better control of your finances, first you must know how much you spend, both on necessary bills and on discretionary...

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    Chinyere Nwude 2 months ago
    I think this is sensible.
  • Avatar
    Megan Boone 3 years ago
    Since I'm a Weight Watchers member, this "Wealth" Watcher recipe was very easy to understand and implement. I tried the forumla out and immediately saw ways I could save more money or pay off credit card debt faster. Great "quick" read. Thank you.

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