Lessons on Mastering Money: The Personal Finance Guide for Canadians in their 20s & 30s

by Fred J. Masters

Leveraging his decades of experience teaching financial literacy, Mr. Masters has written an incredibly comprehensive yet accessible guide that will allow any young Canadian to thrive financially. Written with empathy and using a conversational style, this book should be mandatory reading for any graduate who is ready to enter the workforce. Implementing the advice found here will put any reader on the path to achieving their financial goals. It should be viewed as the foundational guide for understanding the world of personal finance for Canada's young people.

226 pages, Paperback

First published January 1, 2021

Reviews

[Em Holmes · Rating 2 out of 5]

One of the worst financial books I’ve ever read. It’s not a guide, it’s just a whole bunch of “don’t do this”’s and playing small tactics. It’s super unrealistic and I finished this book feeling so disappointed. This man talks out his ass, and operates from ego. It was not helpful at ALL.

[Sandra Lopez Zamora · Rating 5 out of 5]

I personally didn't have personal finance education, so I loved how this book was very easy to understand. I like the approach and learned a lot especially from the investment chapter.

[Christine Le · Rating 5 out of 5]

This book is a must read to add on your bucketlist!

[Mitchell Davison · Rating 4 out of 5]

Autosave large chunks of your paycheck, after every payday - automatically into an account at a virtual bank. Save until it hurts. It should be a struggle to live on what you keep in your main operating bank account. This will allow you to save a significant percentage of your takehome pay. Have extra cash left in your account when the next payday arrives? You didn't save enough; increase your savings rate going forward.

Both partners in a relationship must be on board.
Divide the amount in the savings account by different savings goals and label them: emergency fund, vacation, car repair, new car, house repair, retirement, next home.

Consider switching providers to get better pricing.

500/ month from each of two people = $12 000/ year - invested at 5%

[Jono · Rating 3 out of 5]

boring but learned a lot