Wednesday, September 10, 2014

Book Review - 25 Money Strategies Your Teacher Forgot to Tell You About

Hello Folks! It's been awhile but it's nice to have something to share with you which I hope will be helpful.

I have had the opportunity recently to be introduced to an author by the name of Richard Pan. A native of Latvia, Richard has a Master's in Education, speaks four languages and, most importantly for these purposes, has written a couple of books about money aimed at young people.

His most recent endeavor is entitled '25 Money Strategies Your Teacher Forgot  to Tell You About." I read it recently, and here's what I think....

I like the book. Now - right off the bat - remember Richard's native language is not English - keep that in mind as you read through the book. It's funny how a number of Richard's strategies (from half a world away) are very similar in nature to those in my own book...staying healthy to reduce health care expenses as one example. He does a good job of explaining all of his strategies in detail and offers some unique thoughts. My favorite quote is "Expensive 'stuff' doesn't make you cool - it makes you poor!" - buy your clothes at Thrift Shops!

I'm not sure how parents will react to the idea of young people staying at home as long as possible (at least age 25 or so) to save on expenses!! My 18 year old just moved out to go to college an hour away and the house is a whole lot quieter. The money saving logic behind the idea is great...but....

The strategy I like the most is 'Zero Dollar Day'. Pick one day a week where you force yourself to NOT spend any cash, or use debit or credit. Richard explains it in detail and it sounds like it would work. Read the book and give it a try.

Truthfully - I like any money book which gets young people thinking about how they spend their money and what they can do to spend less and save more. "25 Money Strategies Your Teacher Forgot  to Tell You About" will do that. Check it out for yourself by clicking on the cover below. Cheers!