Your Money Milestones

Your Money Milestones
A guide to making the 9 most important decisions of your life
Moshe A. Milevsky, PH.D.

I read this book very quickly. Partly because it was interesting and partly because I had to return it to the library in 3 days!

I love Milevsky’s take on human capital “The most valuable asset class for most people during their working years is their human capital.”  He presents the idea that human capital should be viewed the same as other assets such as a gold mine or oil well. When preparing a person balance sheet to define our net worth our human capital should be included. He calls it a ‘Holistic Person Balance Sheet’. You can find out your human capital investment potential by using the a calculator he created at www.qwema.ca [edit- this is the link he published in his book but it didn't work when I tried it].

I also took a lot from his chapter on tax. He likened the government to a business partner. You might not like them but you have signed a contract and they are your business partners for life. “ If you earn $100, you must share the appropriate sum with your business partner, but if you lose $100, the business partner will subsidize a portion of the loss. And so, just as your partner keeps a close eye on your activities to make sure you pay your fair share of the agreement, you must ensure that your partner is not taking too much.”

What he says about insurance: make your excess as high as possible, save the difference in a savings for insurance reserve fund. Some events like a broken phone are likely to happen but inexpensive and therefore not worth insuring for. Insure for events that are unlikely to happen but would have a significant effect on your family and standard of living for example the death of the main income earner.

Please note as an affiliate of Amazon Associates I receive a commission if you make a purchase by clicking through the Amazon links on this website.  This is at no extra cost to you.

Mindful Money

Mindful Money
A real guide to building and managing financial independence in a busy world
Canna Campbell

I have so much respect for this inspiring woman. Her first book "The $1000 Project" is a fantastic and realistic challenge to create more money.

In this book Canna takes you to the next level by outlining how to create a passive income.  Like myself Canna is a mother of two and goes out of her way to help support other women with their finances.  She is an experienced financial planner and imparts her expert financial knowledge is this book in a practical and approachable way.  She takes you though a process to reach 'your number'- the amount of money you need to be financially independent.

Just like in her first book Canna covers money and wealth from a place of abundance.  It's not just the nuts and bolts of money management.  She also includes important information about having the right mindset around money.

"She shows you how to look at your finances with holistic and powerful mindfulness, easily incorporating her step-by-step advice into your daily habits and routines. From new banking rituals and money mindsets to growing passive income through shares and property, she will help you shed the excess and embrace what you really love, value, use and appreciate - including your necessary luxuries. Canna leads by example, sharing her personal tips and tricks for building, managing and protecting your money. No matter what you earn or what level of knowledge you have, Mindful Money will help you to see that financial independence is achievable."

I LOVE reading about money in books by Australian women. So good! Check it out.

Please note as an affiliate of Amazon Associates I receive a commission if you make a purchase by clicking through the Amazon links on this website.  This is at no extra cost to you.

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