Bill and Mary Tuhi, authors A guide to financial freedom for the average family, make an average middle class salary. Mary is the head of the office and Bill is the state counselor for rehabilitation. With low incomes, they achieved financial freedom and ensured that their needs were met through retirement. Their book is a guide for others who want to achieve financial security despite a difficult economy. This is my favorite guide in my large collection of books on personal finance ..
Tooheys have achieved financial security by spending less, and therefore saving more. In fact, they save 46 percent of their gross income. Think about it. This savings rate is based on gross income rather than net. This is really impressive considering they don’t bring in huge profits.
How did the Tooheys do it? This book tells their story. They cultivate an attitude of gratitude and satisfaction. They don’t focus on what they don’t have. Bill and Mary describe their motivation as “creating a way to save money”.
Much of the Tooheys ’success lies in their choice to live in a modest home. Too many of us are drawn to buy a house or condominium that we can barely afford and then go into debt to decorate, beautify and renovate our new new home. On the contrary, the Toohi bought a house smaller than they could afford. Instead of using it as a stepping stone to a big house, they stayed put and paid off the mortgage in just ten years. They estimate they have saved more than $ 100,000 over the years by choosing their small home. A smaller house means you spend less on utilities, maintenance, interest costs, taxes and furniture.
The authors consider small costs and large efforts to spend less. No question about it, they are careful spendthrifts. In their book, they share tips on buying cars and groceries, as well as spending on entertainment and education. Education is important to their family, and they share tips on how to get into college without getting into debt.
Most of it A Guide to Financial Freedom is dedicated to how to be a careful spendthrift and avoid financial mistakes in daily life. There are also many reliable, benevolent tips on how to raise responsible children, how to maintain property, and how to set up a home office that provides organization for your family. There’s even a section on how to live happily in a single-bathroom home – something that too many people today find impossible.
Tooheys also dedicate several executives to investment and retirement issues. There are tips and information on where to invest and about different forms of retirement plans. They are free to share their own mistakes and what they have learned about investing.
You can’t help but like Bill and Mary Tuhi reading this book. They are served by people you would like to become friends or family members. There is nothing strange or confusing in their advice. These are reliable, direct recommendations from those you really want on your team. If you’re looking for financial advice and want to learn how to navigate today’s complex economy, you’ll want to take the book by Bill and Mary Tuhy, A guide to financial freedom for the average family.