Money Smart: Achieve Your Financial Goals Faster with Less!
I read a good personal finance book recently. I seriously do think that everyone who’s serious with our financial goals should also get hold of the book and read it. It’s only 350 pages and maybe after these 350 pages, it will help you start your journey towards making your money work harder, faster and ultimately helping you to retire earlier. The author is KC Lau, someone whose lifestyle I admire and in person, he is just another of my very successful and humble friend. Oh yeah, he’s a good badminton player too.
Section 1: Basics – Be Smarter with Money
The Section 1 of book starts by answering many of the fundamental questions which we have about the financial world. For example, “why are some classmates with worse academic results wealthier than you?” or what about this one, “Is formal education a must or a rip-off?”
Then, he moved into some of the potential issues with us. I did not say problems, I said issues. Yes, most of the time, when it comes to personal financial management, the issue is usually with us and it’s about what we did or did not do or could be doing too. His chapter, “More Money is NOT a Solution to Poor Financial Management.” As they say, if you earn higher and your expenses go even higher, you are not back at square one, you are sinking deeper!
Another chapter I particularly like is this, “How to Improve Financial Literacy with Minimum Effort.” By the way, all the sharing are logical and is based on his experience with personal finance for a very long time. In fact, KC Lau is one of the few people whom I already follow when I first started my blog 8 years ago. In total Section 1 is over 100 pages and covered many more topics than I have shared.
Section 2: Offience – How to Make More Money
If Section 1 gives us all the fundamental knowledge we need, Section 2 is when we get more serious with what we know. This is where we take action. Massive actions. He starts with this chapter, “It is No Longer Ricky.” Investments are no longer risky? Read the book to find out. I also like these chapters too: “Should You Focus on Increasing Income or Reducing Expenses?” Too many times that we think we have too little money, well what could really be the problem?
“Redefining Assets and Debts: What is Good and What is Bad?” Many of you would think that debts are bad and assets are great. However, what are they and what’s really good and what’s really to avoid?
I must mention this chapter too: “Two Rich People’s Secrets for Making Loads of Money.” By the way, we do not need to be rich before we could learn from the rich yeah. We learn from the rich so that we can hasten our journey to become one.
One more chapter I particularly like in Section 2 is this and this is something most of us have invested into as well. “Unit Trust Investing Strategies Every Investor Must Know.”
Section 3: Defense – How to Save More Money
First, we learnt what is personal finance all about. Then, we learnt how to earn more. In Section 3, we go into ensuring everything we have stays with us. I think this is super important. A football match is never won with just controlling the ball (knowing what you want to do) or attacking and score goals but also defending so that the goals scored are worthwhile. Let’s start with the first chapter I particularly like, “Save Money the Stupid Way.” Wow… even when we save money, there’s a better way.
Then this one will interest many of us, “The Shocking Truth About Smart Credit Card Users.” If you really want to know how, read this one.
Next is this chapter, “Five Financial Must-Haves for First Time Home Buyers.” I seriously think it’s so important to get the fundamental right.
Moving on would be many chapters which are really suitable as circumstance are uncertain and we must plan ahead for our loved ones. Please remember that if something happens to us and we are not prepared, then we have failed to secure a safety net for our loved ones. Do not leave them hanging after we are gone. Chapters such as ,“Why and When Should You Review Your Will?” and also “Managing the Risk of Double Tragedy.” are very good two chapter to read and take actions.
His last chapter is this, “18 Years of Preparation.” Is he telling you that you need to prepare for 18 years? Is it his sharing with you about his 18 years of Personal Finance journey? Read it to find out.
Yes, I have personally gained a lot after reading this book even if I have been writing in kopiandproperty.com for the last 8 years and have gone through some of the points which KC has written in an easy to read format for all of us.
Note: I do not get a single sen from every book sold by KC Lau. There is also no need to tell him you read my article, therefore you are buying his book too. How do you get this book of his valuablelife experience?
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