The green spotlight #11; 50 common money mistakes.

Hello and welcome to the eleventh edition of the green spotlight, Good to have you stop by again.

I strongly believe that if one must be great and achieve greatness, been an ardent reader is inevitable.

One of the things we want to achieve through our weekly book review on the green spotlight is to create in you the desire to start reading.

Readers are leaders as I would always say and one of the ways to tap into the mind of great people who have gone ahead of us without having a personal interaction with them is through their books.

As Ben Carson would say it;

Read for your life

Are you reading from your life? Many people do not like to read hence have myopic mindsets and do not think wide and wild. Join me once more on another beautiful edition.

On our last edition, we reviewed a book called forgiveness made easy which dealt with the subject of forgiveness which is needed in our daily living.

This week we would be looking at the subject of money and we would be reviewing a beautiful book tittled “50 common money mistakes”

Unto the review of the week

The review of this week is centered on the book “Fifty common money mistakes”

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Author : Olumide Emmanuel
Year published: 2020
Number of chapters: 50
Number of pages: 124
Published by : Olumide Emmanuel ministries

My opinion about the book “Fifty common money mistakes’’

Introduction/Theme

The subject of money and also the nitty gritty around it cannot be over emphasized. We all get money everyday and we handle it yet most of us have not be able to master money hence it doesn’t last in our hands.

Knowledge they is say is power but what good would an unapplied knowledge do to us. It means that what actually empowers us is the knowledge which we apply.

This book therefore gives us those knowledge and shows some practical ways we could apply them to get the desired results.

If you have been doing a particular thing and suddenly finds out it’s been a mistake all along, won’t you care to correct it?

Let’s consider some of the some common money mistakes that we’ve been making all along. Shall we?

Key points from the chapters

There are many money mistakes but the writer gave us fifty of these common mistakes. Let’s see what we can glean from them.

Am just going to touch a few of the mistakes while we do our due diligence to glean the rest from the book.

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• We wake up everyday and go out to make money everyday yet we do not go for financial education. This is one of the common mistakes we make everyday. School does not teach us financial education and how to have financial intelligence.

There are a lot of educated people who are not financially educated and hence continues to make financial mistakes which keeps them in perpetual poverty. The first thing to do if you want to be wealthy is to get financial education.

• We make ends meet in one way or the other and alot of us have ignored the long age advice to cultivate the culture to save. We go on and on to complain about how what we make is not able to take care of us and hence we can’t save.

This is one of the common mistakes. All the authors I’ve read on finances keeps making this same points of emphasis. No matter how much you make, save at least 10% of it. The author reiterated this fact too.

• When you have saved, you must not make the mistake of investing your savings into Ponzi schemes and get rich quick businesses. Most of these people take advantage of man’s greed to rob him.

If they have no investors, they won’t be jn operation. You must make credible researches about the type of business you want to invest in to avoid loosing your savings. If it’s too good to be true, then it’s not due in the first place.

• Have you heard the story of the couple that killed the goose that lays golden eggs for them. That was a huge mistake that people commonly do. Never do that.

Never sell off any thing that serves as a means of putting extra income to your asset Column. A young man sold of his mums rental house that he inherited and used the money to buy cars and other liabilities. That’s foolishness.

• Lack of budgeting and living within your means is another mistake. Most people’s expenses always rises to meet their income.

When your income increases, don’t increase your expenses rather channel the extra income into savings and investments.

There are 50 of these mistakes trashed in this book, you could go ahead and peruse it yourself to see what strikes you the most.

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My rating of the book

I must say that the author succinctly made what could have been a cumbersome journey to be brief and direct. All summarized in a nutshell.

I would give it a 8/10 rating. It’s a simple yet compelling book on finances and I think you should check it out.

Conclusion

Why keep making the same mistakes and make no head way when we could simple learn from people that have gone ahead of us.

I believe that I don’t need experience to teach me in a hard way when I can learn from other people’s mistakes and that’s what this book is all about.

Thanks for coming down this lane with me. If you missed the last edition of the green spotlight on Forgiveness made easy, you can have a look at it here, Edition 10

Your thoughts on this edition of the green spotlight is welcomed and hope to see you again on our subsequent editions.