Good morning all.
It’s Friday and we are all excited to enjoy our weekend. Some of you might have some cool plans. Well, I don’t have much thing to do this weekend. So, I am picking up the book, ‘Personal Finance for Dummies’ (by Eric Tyson) which would be a nice piece of readings for my weekend.
This book is written about personal finance in a very plain language. It tries to explain the concepts in the easiest possible way, as if it were designed ‘for Dummies’. That is, even if you have no background knowledge about personal finance, you will not find it difficult to read this book.
‘Personal Finance’ covers a broad range of your financial decisions. Actually every dollar you spend is involved with your financial life. It begins with the simple and basic things, such as grocery shopping for your dinner table tonight, paying your income tax, and signing up for your car insurance. More complicating and bigger-scale decisions would be planning for your kids’ tertiary education, applying for a mortgage to buy a house, and retirement plans. As you can see, we are dealing with ‘personal finance’ everyday. However, there is no education such as ‘personal finance’ at schools. Without proper learning about how to manage personal finance, we are just naturally exposed to a lot of financial decisions. And that’s why many people keep making the common financial mistakes such as wasteful spending and making an important financial decision without much consideration. In the worst case scenario, this kind of risky personal finance will end up with the household debt problem. As mentioned in the previous blog post (https://financialservicescommission.wordpress.com/2012/08/06/looking-for-a-good-program-for-your-kids-summer-vacation/), a proper learning about finance is essential for all of us!
If nothing special is planned for you weekend, grab this book and get useful financial advice. The book will tell you specific and tried-and-proven recommendations.