Be Your Own CFO
by J.D. Roth
This page contains Be Your Own CFO, a hyperlinked textbook of personal finance. The info here is 100% accurate and effective, to the best of my knowledge.If you spot an error, contact me.
Sometimes it helps to reframe how you look at your household finances. What if, for instance, you thought of your life as a business, a business called You, Inc.? And what if you were the Chief Financial Officer of You, Inc.? I think we all understand that a business needs to earn a profit to survive. But what some folks don’t realize is that the same idea applies to your personal life. Be Your Own CFO shows you how to apply business principles to your household budget so that you too can earn a profit.
While these articles are designed to be read in order, it’s also fine to simply pick and choose those that most interest you. Because this is currently a work in progress, not every article has been published yet. If there’s no link to a piece, it isn’t ready to be read.
Be Your Own CFO
These articles cover the same concepts featured in my 2014 project produced for Chris Guillebeau’s series of Unconventional Guides. This material isn’t word-for-word the same, but the structure is nearly identical. These written versions are often longer and more substantial, with additional supporting material.
Introduction
About J.D. Roth and Get Rich Slowly • Thoughts on Systemic Poverty, Fault, and Responsibility
Missions, Goals, and Actions Plans
Mission Statements • How to Craft a Personal Mission Statement • How to Set Financial Goals • How to Develop a Plan of Action • Action Not Words
Process Improvement
How to Organize Your Time • How to Organize Your Space • How to Organize Your Financial Accounts • How to Upgrade Your Financial Accounts • Automate Everything
Financial Reports
The Balance Sheet • The Income Statement • Net Worth • Profit Margin • Liquidity Ratio • Your Credit Score • Keeping Score
Budgets
You Need a Budget • The Balanced Money Formula
Profit
How to Boost Profit • The Power of Profit Margin • The Beauty of Big Wins
Overhead
Drive Less • Pay Less for Housing • Save on Food
Revenue
Why Income Matters • Become Better Educated • Take a Second Job • Negotiate Your Salary • Sell Your Stuff • Get Creative
Opportunity Costs and Conscious Spending
Opportunity Costs and Conscious Spending
Saving and Debt Reduction
How to Get Out of Debt • Save for the Unexpected • Use Targeted Saving to Achieve Your Goals • Building an Opportunity Fund
Investing
Inflation Is the Silent Enemy of Wealth • The Get Rich Slowly Investment Philosophy • Rule #1: Get Started • Rule #2: Think Long-Term • Rule #3: Spread the Risk • Rule #4: Keep Costs Low • Rule #5: Keep It Simple • Rule #6: Make It Automatic • Rule #7: Ignore the Noise • Rule #8: Conduct an Annual Review • The Get Rich Slowly Investment Strategy • Brief Thoughts on Alternative Investments
Conclusion
Building a Rich Life
Updated: 19 June 2022