My review of The Financial Wellbeing Book by Chris Budd - Simple Steps to Real Financial Freedom

Nov 10, 20243 min read

Financial freedom is more than just an elusive dream; it’s a core pillar of overall wellbeing. The Financial Wellbeing Book by Chris Budd offers a perspective on achieving a sense of financial security through practical strategies.

As someone who’s been on a journey to manage money better, especially as a single mom of two teenagers, I’ve read quite a few books on financial planning. But The Financial Wellbeing Book by Chris Budd is different—it doesn’t just talk about money management. It’s about creating a life where your money supports what really matters to you.

Reading this book during a recent trip, I was inspired to reflect on how much financial freedom impacts my personal sense of wellbeing.

In this book, Budd breaks down how to build financial freedom step by step. He makes it clear that real financial security doesn’t just happen; it requires planning, focus, and knowing what you truly want from life. His approach is all about aligning your finances with your lifestyle, not the other way around. Here’s what stood out to me and what I’ve started applying in my own life:

1. Picture Your Dream Life and Set Goals

Budd’s first step is to imagine your ideal future. What do you want life to look like? It’s not just about hitting a certain savings number but understanding the life you want to build. For me, that means providing stability for my kids, creating meaningful experiences, and having enough saved for peace of mind. Budd then suggests breaking this vision into small, realistic goals to help you get there, step by step.

2. Embrace Simplicity

One of Budd’s key ideas is keeping life simple. I loved his suggestion to declutter and organize both your home and finances. This doesn’t just save money but brings a sense of calm. When you know where everything is, including your money, life feels less chaotic. Budd’s focus on minimalism also means cutting back on things you don’t really need and focusing on what truly adds value to your life.

3. Build Small Habits for Financial Stability

Here are some of the simple, practical tips Budd suggests that I found super useful:

List Out Your Bills: This sounds basic, but having a full list of where your money goes each month is eye-opening. It’s a great first step to understanding your spending.
Set Up an Emergency Fund: Even if it’s just a small amount each month, building an emergency fund is essential. It’s about having a little cushion for unexpected expenses, which helps reduce stress.
Plan Weekly Meals: I’ve started doing this, and it’s a game changer. Instead of overbuying groceries, I plan weekly meals to save money and reduce food waste.
Consider a Side Hustle: Budd recommends creating an extra income stream as a safety net. I’ve created an online side hustle for an high ticket affiliate marketing product that supports my values.
Get Life Insurance and a Will: This might seem like something only wealthy people need, but it’s smart for anyone, especially parents. It’s about protecting your family and knowing they’ll be okay if anything happens.

Choosing Experiences Over Things

One of my biggest takeaways was Budd’s advice on spending. I used to buy things thinking they’d make life easier, but now I focus more on experiences and memories. Instead of shopping for stuff that just ends up cluttering our home, I’m putting money toward travel and activities that create lasting memories.

Final Thoughts

The Financial Wellbeing Book isn’t a strict budget guide. It’s a practical, encouraging book about using money to live a life that feels right for you. Budd’s advice helped me detox from consumerism and simplify my finances so I can focus on what really matters.

For anyone looking to feel more in control of their finances and align money with life goals, I highly recommend this book. It’s simple, practical, and shows that real financial freedom is possible, even on a modest income.

Key Takeaways:

Define Your Dream Future: Start by visualizing the life you truly want, then set financial goals that support that vision.
Embrace Minimalism: Declutter and organize your finances and home. A simpler, more organized life can reduce stress and make money management easier.
List All Monthly Bills: Knowing exactly where your money goes is the first step to better financial control.
Build an Emergency Fund: Even a small monthly contribution adds up over time and creates a cushion for unexpected expenses.
Plan Weekly Meals: Weekly planning reduces grocery costs and food waste, making it a smart way to save money.
Consider a Side Hustle: A second income stream adds financial security and flexibility, especially for unexpected situations.
Focus on Experiences Over Things: Invest in activities and memories instead of possessions. Experiences often bring more joy and have less upkeep than physical items.