Just managed to finish this book in the midst of working through my thesis. Read it in bits and pieces, but overall it is definitely a book worth reading, and one should read it YOUNG. Many of the points in the book mentioned are practical. and are something that we should have acquired since young. This is a book about financial literacy, a book that teaches you steps to take in order not to get broke overnight. PISA has also conducted tests on financial literacy levels for countries across the globe, I will update here once I found the data (read and forgotten lol)
I definitely couldn't recall much that I have read: my mind contains more info about my dissertation.
Nevertheless there is one section in the book which summarises a few important points:
if you want to be financially-independent, you should develop these 10 powers:
1. The power of spirit: finding a reason greater than reality
2. The power of choice: making daily choices
3. The power of association: choosing friends carefully
4. The power of learning quickly: Mastering a formula and then learning a new one
5. The power of self-discipline: Paying yourself first
6. The power of good advice: Paying your brokers well
7. The power of getting something for nothing: Being the Indian giver
8. The power of focus: Using assets to buy luxuries
9. The power of myth: Choosing heroes to emulate
10. The power of giving: Teach and you shall receive
I got this book from Bookxcess at Gurney Paragon for not more than RM20 (exact price forgotten). Well I bet it is available illegally somewhere online in pdf format since it is a really "old" book. It is available in various languages as well. After reading it, I regretted for avoiding reading this book purposely since I was young as I shunned books that are related with money or business (don't know why). Now I definitely recommend you to start to be financially literate, if not let your children learn early.
Starting now is never late.
Let us see how much of this book that I will put into practice in real life.
There is also a CASHFLOW game on the official site that I have yet to give it a try.
https://www.richdad.com/products/cashflow-classic
Till then/
This is definitely the book to read for people just starting to manage their money. However, it is a rather 'basic' book with its fundamental principles laid bare to be understood. It doesn't elaborate when it should and some of its principles can only be implemented in certain countries. Plus, the economy is changing rapidly so some of its theories might not be applicable. The cashcflow game is quite interesting though and seriously, it's nothing like what I have ever played.
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