For me reading books is a mission, i have promised myself that i am going to read loads and loads of books, Something which i should have done earlier. Its never too late, is it?
I shall try to write down my thoughts on them and what i got to learn from them.
I started reading Non-Fiction books recently and must say they are truly more rewarding than fiction. Though there are exceptions!
I was advised to read this book so that i get to know some basics stuff of finance, I come from a technical background(at least i think i do!) hence have no idea of financial concepts.When i saw the book in the crossword store i was skeptical should it. But then i thought lets take the risk and see what this book with a unusual title is all about. I am happy that i purchased the book since it has taught me very valuable lessons on how to deal with finances.
It is not a investment strategy book like some people call it,it is a book which teaches you, how to manage your finances and become rich. Yes it also tells you different ways to invest but that is not the main goal of the book. It gives some good insights on why people never become rich and why they keep on falling into debts. I understood some concepts which i would like to mention briefly,
-> People think that in order to become rich they need to work harder at their job but they do not realize that the more they earn the more they spend! Rich people spend smartly and middle class people dont.
-> The difference between asset and liability is defined in a simple and easy to understand manner. People generally consider their liabilities as their assets and never spend enough time to accumulate the real assets.
-> The biggest mistake what education is doing is, it is not teaching 'financial literacy' which is of utmost importance. If anyone wants to learn how to become rich he is said to be greedy but we are digging our own grave by falling prey to debt in the forms of loans.
-> In order to come out of rat race you need to be smart and have financial literacy. The book in no way tells you to avoid work infact it tells you to concentrate more on work but also handle your finances intelligently.
The author has explained in a beautiful manner of a story and not one minute will you get bored.
Everyone should read this book especially one's who have no knowledge of finance. Go ahead and get your copy and get all the gyan!
No comments:
Post a Comment