6 Financial Resources to Streamline Your Planning and Budgeting
Discover the most effective financial resources that promise to revolutionize your planning and budgeting strategies. This article delves into tools and methods endorsed by industry experts to help you achieve financial clarity and control. Learn from the wisdom of professionals and streamline your approach to managing your money.
- YNAB Boosts Financial Planning
- The Psychology of Money Shifts Mindset
- Tiller Integrates Financial Data Seamlessly
- Rich Dad, Poor Dad Teaches Wealth Building
- The Power of Zero Aids Tax Planning
- QuickBooks Simplifies Financial Management
YNAB Boosts Financial Planning
As someone with 40 years of experience managing my own law and CPA firm, I've found that "You Need a Budget" (YNAB) is a fantastic tool for personal and business financial planning. This app taught me the importance of assigning every dollar a job, which I also emphasize to my clients in wealth creation and estate planning.
One specific case where YNAB was transformative involved a small business owner I worked with. By using YNAB, they were able to track every expense carefully, revealing areas of overspending and reallocating funds to high-impact growth initiatives. This shift in budgeting allowed them to boost their bottom line drastically while maintaining a healthy work-life balance, which aligns perfectly with my coaching philosophy.
For anyone managing finances, whether personally or for a business, YNAB provides insights into cash flow in a very intuitive way. It aligns well with my commitment to lifelong learning and helping others reach their financial goals by revealing how small, consistent changes can lead to significant financial outcomes.
The Psychology of Money Shifts Mindset
One financial resource I always recommend is The Psychology of Money by Morgan Housel. It's not your typical "how to budget" book-it dives into the way we think about money, which, let's be honest, is half the battle.
I remember when I first started my business. I was so focused on strategy and revenue that I didn't pay much attention to my personal financial habits. Then, I read this book, and it completely shifted my mindset. It taught me that financial success isn't just about numbers-it's about behavior, patience, and understanding risk.
One of the biggest lessons I took away was the power of compounding-not just in investments, but in decisions. Small, consistent financial habits lead to big results over time. That realization helped me build a more sustainable approach to both my business finances and personal wealth.
Now, whether I'm making an investment or a business decision, I ask myself: Am I playing the long game? That shift alone has saved me from short-term thinking and unnecessary risks. If you want a financial book that actually changes how you think about money, this is the one.
Tiller Integrates Financial Data Seamlessly
Hello! I'm Dennis Shirshikov, and I've been fortunate to share my thoughts on finance and real estate in publications like the Wall Street Journal, NY Post, TIME, and many others. As the Founder and Educational Leader for itutor.com, and a professor of finance and economics at the City University of New York, I've found that a well-chosen resource can revolutionize how we think about planning, budgeting, and the financial decisions that shape our everyday lives.
What is one financial resource (book, app, website, etc.) you recommend to others? How has this resource helped you with your financial planning?
I often recommend a lesser-known digital resource called Tiller, which integrates your bank and brokerage data into Google Sheets in real time. This goes beyond the typical budgeting app-Tiller helps you build custom reports, spot hidden spending trends, and conduct your own analytics without relying solely on the charts someone else thinks you should see, and that simple shift in control can deeply inform your financial mindset.
Best regards,
Dennis Shirshikov
Founder/Educational Leader | itutor.com
Email: dennis.shirshikov@fullmindlearning.com
Interview: 929-536-0604
LinkedIn: https://www.linkedin.com/in/dennis212/
Rich Dad, Poor Dad Teaches Wealth Building
One book that helped me retire at 31 is "Rich Dad, Poor Dad" by Robert Kiyosaki. It outlines the differences between assets and liabilities and how real estate can help you become financially free. As a pharmacist, I realized that working until 65 at an unfulfilling job wasn't a good way to build wealth. Over the years, I saved up for a downpayment on my first investment property and kept reinvesting my returns. Eventually, I started earning enough from rental income that I was able to quit my job. I highly recommend this book to anyone who's ready to leave the rat race and build security outside of their 9-5.
The Power of Zero Aids Tax Planning
As someone who has been in the insurance and financial planning world for almost 2 decades, I found one book in particular to be an amazing resource: The Power of Zero by David McKnight.
I find this book to be packed with valuable information, and I send it as a gift to existing clients and prospects. The book outlines the importance of tax planning and the steps one can take to achieve a zero tax bracket in retirement, or as close as possible to it. There are multiple retirement planning vehicles, and the author outlines how to properly structure all of them to maximize their benefit and minimize future tax exposure, longevity, and market risks.
I believe this book summarizes various concepts, promotes diversification, and lays out easy-to-follow steps when planning for retirement.
The book is also very affordable; clients can purchase it from Amazon, Audible, or even borrow it from their local library.
Highly recommended resource to not only plan for retirement but also understand why and how.
QuickBooks Simplifies Financial Management
One financial resource I highly recommend for real estate investors, landlords, and business owners is QuickBooks. It's been a game changer for managing rental income, tracking real estate sales, handling payroll, and keeping everything organized. With QuickBooks, I can instantly generate reports, automate recurring expenses, and simplify tax time-saving me time and headaches. If you're juggling multiple income streams, it's worth every penny.
