Book Review

Books that we have read and reviewed

January 17, 2013

[Book Review]-The Money Code by Joe John Duran,CFA

Dominique Book Review, Parenting and Kids Managing Finances

The Money Code

The Money Code: Improve Your Entire Financial Life Right Now by Joe John Duran, CFA is a comprehensive short read about how you can improve your current financial situation.

In the 10 chapters of the book you will learn about the lessons that Jack had gone through while managing his money.

Joe starts of the book by mentioning that Money is only good for three things

1. Avoid pain—by protecting you and helping you to take care of what you’re afraid might cause pain in the future.

2. Feel good—by getting you the things that provide you with happiness and satisfaction
3. Take care of the ones you love—by meeting your obligations to family, community, and society at large

He goes on to share the 5 money secrets and how they affect all decisions which you make regarding money. In subsequent chapters Joe talks about how important it is to know the following

1. Clear understanding of what is currently most important to you in life.

2. What you are willing to adjust to meet your goals.

Through the online lessons that Jack went through with the Alchemist he learned more about his own thought process regarding his finances and he learned how to prioritize what he needs against what he wants financially.

My thoughts

I found this an excellent book as it makes one examine what triggers purchases and woes about money in a person. It also teaches us how to plan the usage of money rationally. How we can control our financial life by taking charge of our spending patterns.

We can control our spending, savings, timing on when we need to make major financial changes and the amount of risk we want to take. Reading the book makes me think through in more detail preventing me making any hasty decisions regarding my finances. I’m blessed to be living with a CFA who does make prudent decision regarding our family finances.

The tips shared in this book are applicable to any lay person and can really change your financial status.

Get your copy of The Money Code: Improve Your Entire Financial Life Right Now to learn more about managing your money.

Disclaimer: I received a copy of the book for review purposes. All opinions are 100% my own.This post has a compensation level of 3. Please visit Dominique’s Disclosure page for more information.

January 12, 2013

Earn It, Learn it: Teach Your Child the Value of Money, Work and Time Well Spent

Dominique Book Review, Parenting and Kids

Book cover

Earn It, Learn It: Teach Your Child the Value of Money, Work, and Time Well Spent (Earn My Keep Allowance Program) by Alisa T Weinstein is a book with lots of practical knowledge for kids.

In this book Alisa advocates that your child choose a career and get paid for it like a salaried worker instead of simply giving him an allowance.

Your child is to do the following

1. Select his own career from the list of careers or spell out his own preferred career.

2. Pick the tasks from the selected career and carry them out.

3. Be paid for their effort in executing the tasks.

The task for the chosen career can be pecked at your child’s ability level. Monkey boy chose the career as an accountant as one of the careers which he would like to try.

I’ll be letting him try the suggested activity of using the abacus to calculate the cost of a field trip. He would have to list what he had to pay for and the cost for each item before using the abacus to add up the cost to find the total cost of the trip.

I will also let him do some simple budgeting with the household grocery account for the next few months.

My thoughts

I find the tips given in Alisa’s book excellent and it does seem more reasonable for the child to learn how to earn his keep. I find that it is an excellent way for a child to learn about different professions and try them out at this stage. By working they will not take money for granted and be more prudent in their expenditure. It is a great way for kids to learn.

You can purchase a copy of this book for @$10 from Amazon

Disclaimer: I received a copy of the book for review purposes. All opinions are 100% my own.
This post has a compensation level of 3. Please visit Dominique’s Disclosure page for more information.