Bill and Mary Toohey, authors of The Average Family’s Guide to Financial Freedom, they earn average middle-class wages. Mary works as an office manager and Bill as a vocational rehabilitation counselor for the state. With modest incomes, they have achieved financial freedom and have ensured that their needs will be met through retirement. His book is a guide for others who want to achieve financial security despite today’s challenging economy. It is my favorite how-to guide in my great collection of books on personal finance.

The Tooheys have achieved financial security by spending less and therefore saving more. In fact, they save 46 percent of their gross income. Think about it. That savings figure is based on gross income, not net. It’s really impressive given that they don’t make a huge income.

How did the Tooheys do it? This book tells their story. They foster an attitude of gratitude and joy. They don’t focus on what they don’t have. Bill and Mary describe their motivation as “building a money saving mindset.”

A big part of the Tooheys’ success is their decision to live in a modest home. Too many of us struggle to buy a home or condo that we can barely afford and then go into debt to furnish, decorate, and update our great new home. The Tooheys, on the other hand, bought a house smaller than they could afford. Instead of using it as a stepping stone to a bigger home, they’ve stayed and paid off their mortgage in just ten years. They estimate that they have saved more than $ 100,000 over the years by choosing their small home. A smaller home means you spend less on utilities, maintenance, interest costs, taxes, and furniture.

The authors look at small and large expenses in their efforts to spend less. Without a doubt, they spend carefully. In their book, they share tips for buying cars and food and spending on entertainment and education. Learning is important to your family, and they share their tips for going to college without getting into debt.

A lot of Guide to financial freedom you are careful how you spend and avoid financial mistakes in your daily life. There’s also a wealth of solid, friendly advice on raising responsible children, keeping your possessions, and setting up a home office that keeps your family organized. There is even a chapter on how to live happily in a house with only one bathroom, something that many people today think is impossible.

The Tooheys also devote several chapters to investing and retirement. There are tips and information on where to invest and on the various forms of retirement plans. They freely share their own mistakes and what they have learned about investing.

You can’t help but like Bill and Mary Toohey while reading this book. They seem like people that you would love as friends or members of your family. There is nothing sophisticated or complicated about his advice. It’s a solid and simple guide from someone you would really want on your team. If you are looking for financial advice and want to learn how to navigate today’s challenging economy, you will want to read Bill and Mary Toohey’s book, The Average Family Guide to Financial Freedom.