Book Review: Money: What Financial Experts Will Never Tell You
Publication Date: Sep 25, 2006
List Price: $19.99
Format: Paperback, 361 pages
Imprint: Time & Money, LLC
Publisher: Time & Money, LLC
Parent Company: Time & Money, LLC
Borrow from Library
Book Reviewed by Shannon Simpson
When I moved to Washington, D.C. in 2007, I was in for a rude awakening. I
looked at my income compared to the cost of living and thought to myself “
this isn't going to work. I immediately decided to take a proactive approach
to making sure I didn't end up broke.
I was fortunate enough to come across a website that was allowing free downloads of the book Money: What Financial "Experts" Will Never Tell You. I downloaded a copy without hesitation and have been using it as a guide every since.
The book is divided into two parts: Part I. The Money Mastery Principles and Part II. Tax Strategies. The Money Mastery Principles totally changed my relationship with money. Tax Strategies made me completely reevaluate the idea of home-based businesses.
One of the lessons that stuck with me is that "You can have anything you want. You just can't have everything you want." It's my money and I can spend it “ after I save and give of course. I just have to choose what I'd like spend it on. Thanks to the application of this principle, it's not a big deal for me to run out and grab dinner at a nice restaurant; but if you look in my closet, you won't find 200 pairs of shoes! I opt for a longer vacation every year instead of hopping in my car or on a flight for every three day weekend in between.
Something that is reiterated throughout the book is, "There are no future decisions, only decisions made today that affect the future." When stated that way, it becomes apparent that we should put more thought into what we are doing with our money now, as opposed to confronting the issue when we have more time, more money, or even worse, no money!
For some people, money management is a daunting task, especially when weighing in investment options. I'd rate the following advice up there with the best I've ever received, "You don't have to know everything, but you do need to know something." Essentially, the point the authors are trying to make is that you need to know enough to know when to ask for help.
There is too much great advice in this book for me to summarize in one post. This is only a partial summary of Part I.
This book would benefit anyone that wants to get a handle on finances, start a home-based business, or come up with ideas for home-based businesses.
Money: What Financial "Experts" Will Never Tell You (Part II)
The first 57 pages of Money Mastery