From Here to Financial Happiness Book Summary - From Here to Financial Happiness Book explained in key points
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From Here to Financial Happiness summary

Jonathan Clements

Enrich Your Life in Just 77 Days

4 (105 ratings)
21 mins
Table of Contents

    From Here to Financial Happiness
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    There are simple routes to healthier finances, and it all begins with understanding “saving.”

    You don’t have to be a financial advisor to know that no two earners are the same. That means that financial advice is never universally true. However, there are some simple rules that apply to everyone, and it’s these general principles you should follow – if you aren’t already doing so, that is!

    Before we get down to business, let’s cover one of the basics: compound interest.

    There’s a good reason saving money makes sense: the amount will rapidly increase thanks to a phenomenon known as compounding.

    So, say you have savings of $1000 earning 6 percent interest every year. Without compounding, you’d only receive $60 interest every year. You’d only get up to a paltry $2800 after thirty years.

    But thanks to compounding, the interest you earn each year gets added to the base savings amount. It’s from this new amount that your next year’s interest is then calculated.

    That means that, after 30 years of compounding, you’d end up with $5,743 rather than only $2,800.

    The lesson here is clear. Start saving and start earning that interest as soon as possible. It really is worth it.

    Now that’s out the way, let's turn to those simple rules for healthier finances.

    If you’re an employee, the first thing to do is to make sure your employer’s retirement savings plan is working for you.

    Typically, for every dollar you contribute to your retirement plan, your employer will give 50 cents, for up to 6 percent of your salary.

    So if you contribute the full 6 percent of your salary to the retirement plan, your employer’s contribution will knock that up to 9 percent. Over time, that starts to add up.

    The second basic rule is never to carry debt on your credit card. That’s because credit card companies often charge up to 20 percent interest on unpaid balances.

    It might seem obvious, but it’s an easy thing to forget. Pay off your card, otherwise, you’ll be quite literally throwing money away.

    We’re off to a good start, but now let’s move to the next blink, where we’ll examine even better reasons for saving money.

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    What is From Here to Financial Happiness about?

    From Here to Financial Happiness (2018) presents you with simple tools to help overcome anxiety about your finances, showing you how best to put aside enough money to lead a comfortable life and for retirement. 

    Best quote from From Here to Financial Happiness

    Things that make us feel good today – spending, eating junk food, boozing it up – often leave us feeling worse tomorrow.

    —Jonathan Clements
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    Who should read From Here to Financial Happiness?

    • Financial advisors
    • Millennials who want to save some money
    • Credit card holders and anyone with debt

    About the Author

    Jonathan Clements is a financial planner who was previously a financial consultant at Citigroup, the global investment bank. He has been a frequent contributor to the Wall Street Journal and is the author of several other books, including How to Think About Money (2016). He is also the founder of, a financial guidance website.


    © Jonathan Clements: From Here to Financial Happiness copyright 2018, John Wiley & Sons Inc. Used by permission of John Wiley & Sons Inc. and shall not be made available to any unauthorized third parties.

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