was very happy to read Tsakani’s review because in a way, she reminded me of how I used to think about money before I got to understand money
Tsakani’s Book Review
I have learned quite a lot from reading this book. The one thing that really stood out for me was saving for retirement as soon as possible, retirement was not something that I thought that I should be worrying about now in my 20s but this book really opened my eyes and it’s something that I want to look into and get more information on. I am of the mindset that I don’t want to buy things on credit and I am currently saving up money to one day buy a house, but after reading the book I’ve learnt that it’s not feasible to buy a house cash because the prices of houses keep going up and I wouldn’t be able to save enough for a house, so the book taught me to differentiate between a good debt such as home loan and children’s education and bad debts which should be avoided. I have also learnt that when it comes to saving there’s still more that I can do, so I want to revisit my savings and do more. The car issue really opened my eyes because there’s a lot to consider before making that decision to buy that big fancy car, it’s also about practicality.
Chapter 9 – “Your Last Will & Testament” and
Chapter 13 – “Will you be able to send your kids to varsity” really got me thinking about a lot of things seeing as I have a son, especially a Will and choosing a guardian for my child when I am no more. Chapter 13 also really helped because sending my son to university was one of my biggest worry. The book was very informative and eye opening.
I still feel sad that I didn’t know that the best time to start saving for my retirement was with my first salary cheque. I would have done things differently had I known so I am glad she got this point very clear. I am also glad that she now fully understands why she shouldn’t worry about saving up and buying her home cash. Just imagine how long it would have taken her to buy her home! I am also glad that she is now calm about saving for varsity fees for her son. We will be working together to advise her as she puts her plans into action over the years.