Knowledge
to support your financial journey.
The Psychology of Money
by Morgan Housel
Review by Amazon
Doing well with money isn't necessarily about what you know. It's about how you behave. And behaviour is hard to teach, even to really smart people.
Money investing, personal finance, and business decisions is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don't make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.
In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life's most important topics.
Comments from Your Coach
As your financial coach I strongly recommend this book as an true eye opener on the way we relate to money and finance in today’s world, and how we are invariably all influenced by these trends.
To gain insight into these influencers will allow you to more effectively take a step back to be able to make your own choices, subdue the “noise” of the crowd, and of societal trends, and make space for your personal financial freedom and peace of mind.
Rich Dad Poor Dad
by Robert T. Kiyosaki
Review from Amazon (excerpt)
Rich Dad Poor Dad is based mostly on Kiyosaki's young days spent in Hawaii. Enriched by Kiyosaki’s personal experience and the teachings he received from his rich dad and poor dad, the book highlights different attitudes towards money, work and life.
Apart from the financial benefits, the book also describes and highlights the teachings he got from his poor dad, i.e., empathy and responsibility towards society. Described as a personal finance book, it has not only challenged, but has also changed the way people think about money.
The book talks about Kiyosaki’s background, his business ventures and investments and variation between possessions and liabilities and what importance they both have in terms of starting and owning a business. It also sheds light on the teachings given by rich to their kids, which is usually missed by poor as well as the middle-class parents and why it is important to have financial literacy over and above all. It also provides impetus on doing work for learning and not for earning and teaches the importance of investing and building business.
It communicates the importance of intelligence and literacy in terms of finance and how financial and entrepreneurial skills play a vital role in the success. How to use power and prosper with the help of investment skills and why it is important to possess investment skills are also written in clear and crisp words in this book.
Termed as New York-Times bestseller, the book has been a boon for management and financial aspirants.
Comments from your coach
This is a very entertaining and easy read, but above all, its a highly educational story of a child who grows up with one foot in the world of a rich family and the other in that of a poorer one. He compares the mindset and education imparted to him by each “dad” and how they differ in their relation to money, and the resulting long-term outcomes.
Robert Kiyosaki is a vocal critic of the shortcomings of today’s traditional educational systems and how they fail to provide basic financial education to the young generations,, leading to the growing inequalities and financial distress this has created in today’s societies.
Though US centric the book portrays many societal truths common to most, if not all mature economies in the world today.
“An investment in knowledge pays the best interest”