I chose this book to review because I felt there are many people who are afraid to start managing their finances because they think they don’t have the skills. The most important action is for you to start paying attention to your money NOW!
Any plan is better than no plan. For those who have been hesitant about creating a plan, The Fun Finance Formula is a good place to start. It could also be a good means of starting the ‘Money Conversation’ with your teenage children.
Queenie Tan is an author dedicated to simplifying the management of your money. As you read her informative book you should develop new attitudes to your money. Hopefully you will develop a healthy relationship with your money. This process is different for everyone, but unless you start increasing your knowledge about money, opportunities to be financially independent may be lost.
For me, one of the highlights of the book is making you feel good about your money. Rather than just concentrating on investments, and locking money away for the future, the book also encourages you to spend on things that are important to you now. This may be where the ‘FUN’ part of the book originated.
The Fun Finance Formula will guide you through the three stages of money management:
- Budgeting
- Debt Management
- Saving and Investing
Australians are fortunate because their employer superannuation will provide them with a sound base from which they can supplement their wealth by either making additional contributions to super or creating a portfolio of investments. For those who don’t want to be actively involved is the day-to-day management of your investments, this book will give you simple solutions where all you must do is select a managed fund and make regular contributions.
This book is illustrated with many real-life examples.
As you start to build your nest egg, you are likely to branch out into investments with higher returns and less management fees and will give you the skills to take the next step.
As the sub-title says: ‘Unlock the secret to growing your money and loving every step’.
Glenis Phillips SF Fin – Good Financial Reads
Disclaimer: Financial Mappers does not have an Australian Services License, does not offer financial planning advice, and does not recommend financial products.
