The Dollar Code: Get Out of Debt with One Number

by Jason Hastie

Overview

Before you can control your finances, save money, and get out of debt, you must first understand your spending habits. Sounds simple, right? But for most people it is not, because budgets are based on complicated monthly spending habits, which can be overwhelming, causing people to give up.

Now, there's a different way that will revolutionize the way you look at personal finance. In an incredibly easy, comprehensible way, The Dollar Code shows you how to break down spending in order to pay off debt and achieve financial freedom--no matter how many other methods have failed you in the past.

Jason R. Hastie's method is based on the principle of living within your means, but what makes it different is that it gives you just one number to remember—your own personal "Daily Digit"—the amount of money you can freely spend each day without going into debt. This one number is the key to financial freedom because it makes spending easy to understand, and when you understand spending, you can control it.

Who will benefit from reading and applying The Dollar Code? Everyone who has ever identified with one or more of these statements: I can't understand why I don't have enough money at the end of the week.

• I've tried budgeting and failed because it was too complicated.
• I feel out of control of my finances.
• I get depressed about not having enough money.
• I have too much debt and feel like the world is caving in.
• I feel constantly bombarded by unexpected fees and expenses.

Not only does Hastie's Dollar Code put those statements to rest, it also addresses a broad range of issues and scenarios that sometimes catch us off guard and, if we're not careful, throw us into a tailspin. Hastie also tackles head-on issues such as the benefits and pitfalls of credit cards, emergency funds, saving for the future, and "the fun bucket." His handy "twenty tips" and worksheets at the back of the book make applying the dollar code even easier and, once you unlock your code, you'll understand why it is the one and only number you need to achieve financial freedom. Really—it's that simple . . . and fun!

Product Details

ISBN-13:	9780757318313
Publisher:	Health Communications, Incorporated
Publication date:	03/03/2015
Pages:	128
Product dimensions:	5.50(w) x 8.50(h) x (d)

About the Author

Jason R. Hastie is a Chartered Professional Accountant (CPA) who came up with The Dollar Code concept over 10 years ago. Since then, Jason has been teaching this simple concept to hundreds of his clients who have changed their lives and way of thinking about money by using ONE NUMBER. Jason himself has used The Dollar Code method to pay off student loans, get out of debt, buy his first house in Calgary, Canada, and purchase investment and vacation properties in Canada and in Arizona.

Read an Excerpt

Introduction

From Humble Beginnings to Modest Wealth

Every once in a while, a brilliant idea is born out of necessity. Nearly every great inventor who has introduced a new concept did so because of an underlying need that could not be met by an existing means. Therefore, the invention was, in essence, a solution. That is the very epitome of invention.

The same holds true for brilliant concepts. And that is exactly what this book is about. The Dollar Code is a concept, stemming from the fundamental principle of budgeting. In today's fast-paced world, too many people have not learned this principle. Maybe you are one of them. Maybe that is why you picked up this book.

The concept of budgeting can be very confusing to people. Even the most educated and intelligent people can get caught up in the momentum of society's expectations. Check-cashing stores encourage borrowing against future paychecks ('paycheques,' as they're known in Canada). Credit card companies encourage spending now and paying later. Clever marketing ploys encourage impulse buying. Car dealerships and furniture stores advertise 'Buy Now . . . Pay Later.' Even the whole concept of mortgages encourages debt. Living outside your means has become an accepted way of living. Admittedly, it is very difficult to stay on a budget amidst a world with a 'want it now' mentality.

So in theory, if you are having money problems, it may not be entirely your fault. Society advocates overspending. Every business has its hand out, just waiting to snatch your pocketbook or wallet. How freely you allow this to happen is entirely a mind-set. For many, overspending becomes a natural way of living.

We all know people who are worse off than we are. People who live paycheck to paycheck—perhaps even you. They get paid on Friday, and by the end of the weekend their money has disappeared. After paying rent and a few bills, they head to the local tavern and blow whatever few dollars they have left. This is a setup for struggling through the rest of the week just to get by, only to start all over again the next Friday.

I have been on 'both sides of the coin,' so to speak. I know what it's like to feel out of control of my spending and my finances, and I know what it's like to be in control. Trust me, it's much better to have that sense of calm that comes with control, especially when it comes to your finances.

I am a Chartered Professional Accountant (CPA)—in the United States, I would be a Certified Public Accountant—and I've owned a consulting practice for many years now. Because of this, you may think that I've always been good with numbers and with controlling my finances. However, it took learning many lessons along the way to bring me to where I am today. One of those lessons came while I was in college. I took a job at Wendy's (the fast-food restaurant), where I first learned about making and spending money. Employees were allowed a half hour lunch break if we worked a minimum of six hours. During that break, most of us would eat Wendy's food. It was good food and we got 50 percent off. I thought that was great and took advantage of my discounted lunches for months, until I noticed one very important thing: The meal that I typically ordered (a single burger combo), even at half price, cost me an hour's wages! And, to think that I had started doing this every day! Talk about a bad way to spend money.

What I'm going to share with you is a completely different way of handling your finances. The Dollar Code takes into consideration the soundest principles of good financial management and budgeting and forces you to look at your finances from a whole new perspective. Let me reassure you—once you learn how to apply The Dollar Code principle to your own life, your financial management will become super easy and very simple to do. Did I mention easy and simple?

I have read a lot of budget management and finance books. Because of the nature of my business as an accountant, I like to learn new ideas from other respected authors and financial moguls. What I must say is that many of the books, although well written, are just downright complicated. They have complicated formulas to learn, charts to keep, or systems to implement. If a budget is too complex or has too many things to remember, it is just too tough to maintain.

The Dollar Code has none of these traits. It gives you just one number to remember and apply to your everyday living. One number! Once you see how easy it is, you will wonder why even the most talented and brilliant financial gurus had never thought of this before. I have found that keeping it simple and adding an element of fun makes all the difference.

Then, just maybe, you will feel less stressed. Maybe you will become less frazzled trying to come up with enough money to prevent your electricity from being cut off. Maybe you will be able to have more fun instead of wishing you could afford to do the things you've always longed to do but never could because of lack of money. Maybe you will feel more in control and less worried. Maybe . . . just maybe . . . you can take charge of your life without always feeling pressured, stressed, or unbalanced. After all, you should be in control of your money, rather than allowing your money to control you.

©2015 Jason R. Hastie. All rights reserved. Reprinted from The Dollar Code: Get Out of Debt with One Number. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, without the written permission of the publisher. Publisher: Health Communications, Inc., 3201 SW 15th Street, Deerfield Beach, FL 33442.

Table of Contents

Introduction 1

1 The Dollar Code Epiphany 5

2 The Dollar Code and Budgeting 9

Why Do We Have So Much Trouble Budgeting?

What School and Jobs Don't Teach You

Why the Dollar Code Will Help You

Who Needs the Dollar Code?

3 What Exactly Is the Dollar Code? 17

Why Just One Number?

What Your Number Means

How the Dollar Code Differs from Other Budgeting Systems

Unlocking Your Code

Using the Dollar Code

Will Your DA Ever Change?

4 Understanding Your Daily Allowance (DA) 31

The 5-Minute Checkup

Increasing Your DA

Your Quarterly Update

5 Credit Cards and the Dollar Code 43

Benefits of Credit Cards

Pitfalls of Credit Cards

Incorporating Credit Cards into the Dollar Code

6 Tips to Increase Your Cash and Decrease Your Daily Expenses 47

Increase Your Cash

Decrease Your Daily Expenses

7 Savings, Emergency Funds, and the Fun Bucket 51

Saving for the Future

Set Up an Emergency Fund

The 20 Percent Rule

The Fun Bucket

8 The Dollar Code Recap and Frequently Asked Questions (FAQs) 57

Tactics for Learning the Dollar Code

Forming New Habits to Stay on Track

Making Your DA a Habit

Ten Tips to Easily Decrease Spending

Having a Savings Account and Emergency Fund

9 Become Part of the Dollar Code Revolution 79

Developing a Deeper Understanding of the Dollar Code

Developing a Support System

Building a Dollar Code Community

Competing with the Dollar Code: The Ultimate Dollar Code Challenge!

10 The Dollar Code for Entrepreneurs 91

Money In

Money Out and Employee Involvement How to Calculate Your Initial Investment

11 The Family Plan 103

Sharing Your Dollar Code

Is There an App for That?

Dollar Code Dos and Don'ts for Couples

How Using the Dollar Code Has Changed Lives

A Twenty-Tip Recap 113

Summary of Tips for Dollar Code Diehards

The Dollar Code Worksheet