Alex von Tobel Wants You to Be Financially Fearless

We’re already halfway through January and as some people are reevaluating the money goals they’ve set for themselves this year (such as saving more and getting out of debt) I want to share a book that may keep you on target in 2014 and beyond – Financially Fearless by Alexa von Tobel.

In case you’re unfamiliar with her, Alexa is the CEO and founder of LearnVest, a personal finance site that seeks to make financial planning affordable and practical for many in the middle class. I ‘ve had the pleasure to chat with her last week over the phone while she was in Washington D.C., getting ready to launch her book tour.

While the book covers the foundation of managing money, it highlights the psychology behind how and why we use money in a way that is motivating and challenging. It’s another piece to the puzzle as she and her company are trying to empower others to get their finances under control and working for them.

Becoming Financially Fearless

One of the first things I asked von Tobel was about the purpose and timing of the book. With so many personal finance books, services, and blogs, what did she hope to accomplish with releasing Financially Fearless? Her thoughtful response was that she had a few objectives for the book:

• Spread awareness about personal finances and how manageable it can be for practically everybody.
• Give actionable advice that allows readers to get a handle on their finances fairly quickly.

She was clear that while this book goes hand in hand with LearnVest’s Planning Services, readers can use Financially Fearless to work on their own too. Alexa came across as genuinely interested in helping others to get started with mastering their money.

LearnVest’s Mission of Affordable Financial Planning

Just what is LearnVest’s program? The company discusses openly how they lead clients step by step with getting their finances under control. It is based on what a client is hoping to achieve – some want help with their budgets, some want to create a five year plan, and others are hoping to kick start their portfolio. The main steps are outline on LearnVest’s site.

1. Organize: LearnVest’s site can pull your financial data into one spot so you have a clear picture of where you stand on your finances.
2. Focus: A certified financial planner works with you to create a budget that fits your goals and your current circumstances.
3. Plan: Work out step by step how to get out of debt, build your savings, and invest for your retirement.
4. Protect: LearnVest guides you so your family has the proper insurance and the right documents to protect your money against some of life’s unexpected expenses.
5. Build: You work with your planner on how you can make the big purchases like a home.
6. Maximize: With the foundation laid, you optimize your portfolio.
7. Achieve: Following the plan you have devised with your planner, you check-in to make sure you’re achieving the goals you had set for yourself and add new ones.

Financially Fearless uses that step by step framework within its pages, giving readers a foundation.

Protecting Your Money

One huge point that von Tobel discussed on out call was making sure that people protected themselves and their money. In Financially Fearless she devotes an entire section to this topic, acknowledging that unexpected expenses and events happen to all of us. We may have control over the car breaking down or a storm damaging our house, but there are things most people can do to manage the problems.

For instance she mentioned Hurricane Sandy as an example – there were homeowners who either didn’t have the right type of insurance coverage or they underestimated the amount of coverage they needed. For those families, it was a financial disaster on top of a natural and emotional one.

Alexa goes into the essential insurances like health and renter’s/homeowner’s insurance. Our health and our homes are two things we can’t afford to lose so having the proper insurance can alleviate some of the stress when bad things come up. If someone depends on your income, then having life insurance to keep them afloat should the unexpected happen is the responsible thing.

Like I’ve mentioned quite a few times, shopping for insurance can pay off in a huge way when you keep in an eye out for value rather than simply looking for the cheapest plans. You want to feel confident that should you need to use it, your insurance company won’t give you a hassle.

Win a Copy of Financially Fearless

Not only did I enjoy how easy it was to read the book, but I appreciated the worksheets included – it made it a more interactive guide. I think it’s a wonderful book to either own or give as a gift to a loved one. If you’re looking to grab a copy, you can find it at many retailers, but Alexa has been kind enough to offer a free book for one Couple Money reader! All you have to do is share your money goal for 2014 with me.

You can:

• Leave a comment here on this post.
• Tweet me on Twitter (please include @Elle_CM so I can see it)
• Leave your goal on Couple’s Money’s Facebook page

I’ll round up all the entries and choose a winner next Monday (January 20, 2014) during my lunch break (1pm ET). I can’t wait to hear from you and see what big plans you have for this year!

In addition to the book giveaway, if any of you are interested in getting a certified financial planner through LearnVest please use the promo code “couplemoney50″ and get a $50 credit good towards a 5 year plan with certified financial planner. Please check LearnVest’s site to find out more about their program to see if would be a good fit for your family.