Review of The Big Payoff: 8 Steps Couples Can Take to Make the Most of Their Money--and Live Richly Ever After (Hardcover)

I'm not married with children and planning for their college savings or a well-off magazine editor engaged to an equally-fabulous investment banker, but I can still benefit from the financial lessons in The Big Payoff: 8 Steps Couple Can Take to Make The Most of Their Money - and Live Richly Ever After, the first book written by CNBC personal finance correspondent Sharon Epperson.

The Big Payoff is billed as a resource for middle-class couples, but as a single, young professional, I found the information in the book relevant to my life and circumstances. I viewed the book as a way to prepare for my future as it gave me advice and real steps I could take to build a solid financial base to support me now and for years to come.

Epperson wrote an easy-to-understand book that's broken down into eight action steps any individual or couple can follow. The steps are divided into chapters that cover topics such as buying a house, emergency planning, college savings and estate planning. The Big Payoff can benefit all people too - from the working poor trying to learn ways to maximize their dollars and build a legacy of financial literacy to pass down to their children, to the middle-class trying to stretch their earnings and provide a comfortable lifestyle for their families. Everyone needs to know about savings plans, budgeting and saving for college and retirement.

Epperson's book makes complex topics palatable and helps people introduce financial literacy into their every day lives and practices. I'm living, breathing proof that the Big Payoff works. One of the best features of the book is the exercises and worksheets that accompany most of the chapters. One of the first things I did after reading the Big Payoff was to write out my short- and long-term financial goals. Then, I drafted a personal budget. The budgeting process is probably one of the hardest, most honest exercises a person or couple must face. It makes you accountable for yourself and your spending habits. Even harder than that, is sticking to your budget. I'll admit, even after a week, there were a couple times when I just didn't feel like keeping track of my receipts. But, I did. Now, I am able to put into perspective my actual needs versus my wants and I've been able to save more money and feel good about the prospects for my future. Sure, I'm at the baby-step phase in this process, but it's a personal triumph for me to at least have taken steps to do something about planning for my future.

The Big Payoff is a plan to help people of all ages get their financial lives back on track or help others take the right path from the beginning.



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