A book by Chad J. Ogburn
You Work Hard for Your Money. Is It Working for You?
You can earn a good living and still wonder where all your money goes. You can make more money and somehow find yourself with fewer choices.
It doesn't have to be that way.
In The Back Porch Principle, follow Alex as an unexpected conversation with his parents' neighbor challenges everything he thinks he knows about money.
Through ten simple rules, Alex discovers how to understand his finances, avoid costly mistakes, and make intentional decisions that help him build the life he actually wants.
Because at the end of the day, it's not about the money. It's about a life well lived.
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What if making better financial decisions started with understanding yourself?
Here are three of the ten rules Alex learns as he starts to connect his money decisions with the life he wants.
Rule #2
Know Your Personal DTI
How much of your income is already spoken for? Seeing what you’ve committed to spend can change what you choose to take on next.
Rule #5
Know Yourself
Pay attention to what drives your spending and what matters most to you. That can make it easier to spot which choices fit the life you want.
Rule #6
Give
Consider what generosity looks like in your life and how you can make room for it in the choices you make about money.
Meet Alex
A new job. A lot of decisions.
Alex is about to graduate. He has a job offer, student loans, and his eye on a downtown apartment. Then his parents’ neighbor, Mr. Davis, challenges him to look at what his plans would cost.
Their conversations help Alex see where his money is already committed and how his habits affect the choices he can make next. His story gives you a way to think through those questions in your own life.
Bring the rules to your next money decision
Start with Alex’s story
See how a new paycheck changes the choices he faces and what he learns along the way.
Look at your own commitments
Think about how much of your income is already spoken for and what you want to make room for.
Use a rule to weigh your next choice
Pick one decision you’re facing and consider what it would mean for the life you want.
The ten rules
- Know the Basics
- Know Your Personal DTI
- Control Your Personal DTI
- Adapt to Change
- Know Yourself
- Give
- Build a Safety Net
- Invest for the Future
- Understand Debt
- Know About Insurance, Investing, and Mortgages
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