Only you can save the economy

Poll

Do you have a household budget?

This poll ended on 02 October 2011.

Yes, and I stick to it

50%

Yes, but I never stick to it

16%

No, but I should

16%

No, and I don't intend to make one

16%

This is not a scientific poll. The results reflect only the opinions of those who chose to participate.

Related links

• Simple steps to control your money
• Renovation can pay if done well
• Making money
• Helping hands for small business
• Making the best of your tax return
• Great home loan deals do exist
• Beware of financial quick-fixes
• Average savings rise - good news
• The four types of debt
• Diversification made easy
• Diversification made easy
• Certainty for your super
• Swap credit cards for a better deal
• Money for Christmas
• How to avoid mortgage default
• GFC has Gen Y saving
• Consumers must choose carefully
• Meeting those final bills

IF you've been reading the business section over the last few months you've probably developed a rather bleak view of money.

Banks, previously the foundations on which we built our financial lives, have either failed or at least become shaky and uncertain. It's tempting to feel that the faceless folk who pull the levers on our economy have stuffed something up and those of us with mortgages and retirement funds can only sit back and watch it all burn.

Fortunately, the latest edition of Paul Clitheroe's linchpin book Making Money is here to remind us that we have more control than we might think. The best thing we can do for ourselves is also the best thing we can do for the economy: take control of our finances.

Given the situation, even with the obvious need we to get our money under control, the whole process might feel horrifying or too hard. Clitheroe's book not only covers all the bases you'll need, but doesn't preach, doesn't make you feel guilty about not budgeting, and injects a much needed sense of hope into the reader.

His ten tips to financial security are simple, easily followed steps that, even if you've tried them before and failed, are exactly the kind of stable foundation and reminder that you're looking for right now. No guilt, just the rational process required to get back on your feet.

It's a relief to see, as well, that the book isn't just for the 2.4 kids and a mortgage set, nor is it a screed on becoming rich being the only way to be comfortable. In Clitheroe's world, money troubles fall on the poor and rich alike, and the advice in here could apply whether you're a uni student, tradie, lawyer, or investment banker.

Clitheroe also proves that the basic, fundamental principles behind taking control of your income don't change even when the world is going through a financial crisis.

The book is well written, easy to understand, and you get a real sense of Clitheroe knowing what you're going through, be it a hiccup on the mortgage or flat-out disaster. If you've never had this book in earlier editions, or you picked it up a few years ago, you're doing yourself an immense favor by picking up the latest edition.