There are tons of books out there which discuss the topic of Finance, Investments and I have to admit that I have read many of them.
What makes this book unique?
The fact that is written by an IRS (Indian Revenue Service) officer making it special from start.
Secondly, the book teaches us, what ways you should not manage your finances.
The book is a detailed account covering all the major aspects, which means, even if you are a novice, you still could become a financially literate person to manage your finances in a better way, if not becoming an expert.
Loved the cover page which gives a perfect representation of what you could expect from the book. Yes, you can start building your own corpus in a slow and steady way as the saying goes “Castles aren’t built overnight”.
The book covers the following aspects:
Budget
Emergency Fund
Credit Card
Insurance
Debt Payoff
Retirement Planning
Pension – The National Pension System
The Public Provident Fund
ELSS – Equity Linked Savings Scheme
Diversifying your mutual funds
Owning or Renting a Home
Credit History
Net Worth
The Financial Buddy and
Advanced Maneuvers
Each and every chapter is explained in detail with easy-to-understand examples. You might be an expert in your finances but I can surely bet that there will be some takeaways or new learnings from this book.
The way the concepts are explained makes it not only interesting but also guides us in the right direction.
Each chapter ends with a “Recap” and in some of them, there are “Baby Steps” as well.
The book will make you introspect and gives you a different approach towards your finances.
You may not adhere to all of them or invest in all but at least in some as per the directions shown in the book which would help you build your corpus effectively, over a period of time.
If each of us starts making the budget by recording all the expenses as mentioned in one of the chapters, it would let us know where we stand and how we can plan to come out of it (If the expenses are more than the income).
There were many learning points for me from this book but the major ones are about owning a property or a car. I had a different notion about these altogether but after reading this book, my perceptions have changed. I have got a clear-cut idea as to how to manage my own finance. Yes, even I was of the opinion that I knew about my finances but alas, I did not do it in the right way.
To lead a healthy financial life and to retire safely and securely, this book would surely help in its own way. Give it a read and become a master in managing your own finances.
This book is available on Amazon
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