The One Financial Habit That Could Change Your Life: A Guide for New Grads, Young Professionals, and Those Who are Money Challenged

by Robert Ironside, Edwin Au Yeung

THE ONE FINANCIAL HABIT THAT COULD CHANGE YOUR LIFE A Guide for New Grads, Young Professionals and those who are Money Challenged BY ROBERT IRONSIDE & EDWIN AU YEUNG BREAKING NEWS: You Too Can Get Some Retail Therapy and Save Your Financial Life! Over the last 50 years, society has evolved from valuing frugality to valuing debt-driven consumerism. The addiction of instant gratification has caused stress and even bankruptcy. It's "live for today" at the expense of "purchasing power" in the future. Everyone wants it all and they want it now. Wouldn't you love to learn how to save a portion of every pay cheque regularly, consistently and with disciple, and then invest your money wisely? Wouldn't you love to get rich quickly and solve all your money woes? Good news! With one simple financial habit, you can, in fact, become seriously wealthy. You will retire richer than you ever dreamed possible, while achieving peace of mind about your financial future. There is an alternative to the stress of debt?it's simple and it works. And it's yours for the taking in this entertaining book! Learn how to respect yourself, financially, to avoid being taken advantage of Get out of the habit of overspending and into the habit of uber-saving Build your discipline to use today's dollars to maximize future wealth and minimize risk What's the one financial secret that can give you real opportunities for the power and influence wealthy people have throughout their lives? It is simply this: faithfully use the time value of money to your best advantage. PUT YOURSELF FIRST BY PAYING YOURSELF FIRST: Use the Power of the Time Value of Money to shake out the bad habits and build some good ones, learning from true-to-life examples: *BAD HABIT: Paying credit card interest GOOD HABIT: Pay tax deductible interest *BAD HABIT: Overpaying your Taxes GOOD HABIT: Pay only the correct tax *BAD HABIT: Buying a New CarGOOD HABIT: Buy a used car

Genres: Nonfiction

150 pages, Paperback

First published October 15, 2010

Reviews

[Keisha Adams · Rating 3 out of 5]

Basic personal finance 101. Weird that it put a (vague) budget after the investment chapter. Annoyed by the repeated tagline on each chapter. Some tired jokes about shopaholics. Strange advice to get mutual funds if you are low income. Pushing a financial advisor when most people don’t have assets that would benefit from that.
Assumes very high investment returns. Ignores inflation.

Fine for teaching basic concepts but not much else.

[Irrelephant · Rating 3 out of 5]

This book is fairly simplistic, but probably really good for beginners who don't know much about finance. It basically ignores some really important issues, such as inflation, and uses a pretty high assumed return of 10% for most examples, which the book says is the long-run average, but I find to be unrealistically high. There is some good advice for people who are really bad with money, but I really didn't come across anything I didn't already know and practice.