Cashflow Cookbook - My Book Review

TITLE: CASHFLOW COOKBOOK
AUTHOR NAME: Gordon D. Stein
AUTHOR CREDENTIALS: Tech executive, engineer and author
GENRE: Personal Financial Planning
NUMBER OF PAGES: 327
PUBLICATION DATE: 28 August 2017

SYNOPSIS/SUMMARY: How to achieve financial freedom without budgeting. You will learn how to:

• simmer down your spending without spending - pg.11
• pare back your housing costs by $1,700 a month - pg. 25
• slice transportation costs by $1,800 a month - pg. 77
• chop food & drink costs by up to $2,078 monthly - pg. 115

You have to be different to get noticed. Just like the guy or girl who submits their resumé on pink paper, they want to stand out from the crowd.

That is the main difference with Gordon Stein's book Cashflow Cookbook. He presents money saving tips and then showing you how those savings would grow as an investment at a 7% return rate. He wants your savings to stand out so you can see it on paper.

Most us never bother to think about saving money and then looking at the potential results on our net worth 10 and 20 years out. Gordon shows us those tips and savings with hearty and light versions so you have options on how deep you might want to cut that spending.

60 recipes are presented for you to save more so you can pay down debt or invest. The main categories with real life personal examples include;

• Housing
• Cars & Transportation
• Food & Drink
• Household
• Lifestyle
• Financial

Under these main categories he covers money saving topics that include daily commuting, snow removal, storage, eating out, car repairs, electrical and gas bills, loyalty programs, food,  groceries, bank and financial fees and much more.

Financial Recipes I Tried Out Immediately

Now that I'm retired my focus is always to try and lower my monthly bills. I don't penny pinch but I always look for value and sales when shopping.

After going through all of the recipes in CFCB the first one I tried was on pg. 216 - 'Julien of Gym Costs in a Light Sweat Sauce'. This was about cancelling my monthly gym membership. I don't use it enough to justify the high monthly payment of $48.56. I did buy a yearly membership through an alumni association for $150 annual for my wife and I. This resulted in a monthly savings of $36.06.

The next recipe I tried was found on pg. 219 - 'Video Vichyssoise'. I cancelled our cable subscription to HBO & TMN. This resulted in a further savings of $11.99 a month. 

Next up was 'Battered Bottled Water' - pg.116. I have an account with Water Depot which when my account balance is at zero I will cancel. We also buy bottled water by the case of 24 for travelling. This will result in a monthly savings on average of $21.66. It really is mind boggling to think I spend that much a month just on water. We really need to stop complaining about the high cost of gas and focus on the high cost of water. It really is ridiculous.

I then turned my attention to 'Detox Drinks Du Jour' - pg. 151. This is my weekly Friday meet up with my retired military buddies. I usually spend $22.30 every visit to the bar. I am committed to cutting this back to only once a month. The savings will result in $66.90 per month.

Total Savings

Servings	Monthly Savings	10 Year Value X 173	20 year value X 521
Gym Bill	$36.06	$6238.38	$18787.26
Cable	$11.99	2074.27	6246.79
Bottled Water	$21.66	3747.18.	11284.86
Beers Out	$66.90	11573.70	34854.90

Please keep in mind these numbers are based on a 7% return on the money you saved per month. It is also suggested to pay down any debt first, look for possible savings and then invest the subsequent monthly savings.

Just by making these small changes to my spending habits I have found $136.61 a month in savings. In 10 years invested @ 7% = $23,633.53.

This is a very realistic result and should be achievable with no hard work or that much of a personal sacrifice. This would benefit my health and the environment as an added bonus.

As far as household expenses go we are in the enviable position of enjoying a 40% discount, on our cell, internet and cable services as our daughter works for a third party carrier that gives her this benefit. When and if she leaves the company, cord cutting will be implemented for further savings.

My Final Takeaway

We can all find some savings in these different areas of our life that we spend money. Gordon has provided 60 recipes for you to try out if you wish. Just like all cookbooks that sit on your shelf, you will enjoy some and not others. There is something here for all cooks to try.

If you are looking for a way to improve your personal finances and struggle with finding ways to save money, pay down debt and invest, this book is perfect for you and a must purchase.

How do you find savings to pay down debt and invest?