Thrifty Thinking: The Retro Budget Prescription

Disclosure: I received complimentary products to facilitate this post. All opinions are my own.

Recently I read The Retro Budget Prescription by Nora D'Ecclesis. This ebook is a fantastic value at just $2.99 for kindle or $8.96 for paperback. It is short and written more for the budgeting beginner, but veterans will still find helpful tips and reminders. She incorporates the spiritual side of finances, for a holistic view of prosperity, which is nice to not make it just about cold, hard cash. I had a chance to interview her to learn more.

1. What was the inspiration behind writing this book?

"The ancestor of every action is a thought" - Emerson

My thoughts went to the teachings of Sir John Templeton when I worked as a mortgage banker and saw dozens of people without written budgets have great difficulty achieving their financial goals.

I enjoyed learning from the work of John Templeton as a young graduate student and his philosophy was my motivation. In the book I explain that using a budget creates a framework for our future. By putting numbers down on paper we deconstruct our fears which helps to move forward toward financial wellness. By writing down a budget, and following it, stress is mitigated.  We all know that relieving stress improves our health. I have written extensively on the topic of stress management in all of my non fiction publications.

 

2. Why is there a link with spirituality and finances?

The great financial advisor John Templeton was asked about the best financial advice he had ever given anybody. Sir John replied, " Tithing." He said, "I've never known anybody who has tithed (given away) at least ten percent of their income to good causes who didn't have it coming back tenfold. Just reaching out and helping others brings that energy back to you. And I firmly believe that. Don't wait until you have a lot of money. Reach out and help somebody now." It has been the way I have lived my life and I find value in his words and suggest we all consider the concept in my book.

 

When we are in good spiritual shape we are far better able to withstand life's vicissitudes and create the lifestyle that best suits who we truly are in everything from relationships to finances to career.

 

 

3. What makes this budget idea "retro?"

It is an enlightening and educational perspective on an old topic especially regarding spiritual practice and its effect on financial planning. In “The Retro Budget Prescription”, I suggest a written budget plan without the use of software. The book outlines the concept of helping others, writing a plan down on paper, committing to self-control and shedding faddish ways of managing money. It is back to basics of another time, when budgeting was done without spreadsheets or computers. The simplicity of a pencil and paper and a plan combined with a spiritual program that suggests giving helps money management.

 

4. Can you share a few tips from the book?

It is a tool for teaching children good basics in understanding what to do with their money and responsibilities that go along with that. These concepts should be taught in school at an early age and right through high school. I devote several chapters on how to get youngsters off to a good start and focus intently on the young college age men and women. I caution on the profligate use of the ATM cards and traditional credit cards and suggest we learn to focus on wants vs needs.