The smart money woman book review.

When I first saw the book, I immediately fell in love with it. I knew just from the start I would learn a lot within a few days. You can get this book in amazon and trust me it’s worth it.

What I love about this book is how Arese Ugwu takes us through zuri’s journey, from debt to her financial freedom. The steps she took and what had to sacrifice along the way to met her goals. The most important part she had to change her mindset, to change her life.

one thing i am learning from it, is that to have financial freedom your passive income should be more than your active income. Active income is your salary but passive income is the money you get when you are using less effort like rental money from the houses you own or stocks.

Another lesson learned is, when you have property assets, go cover them with insurance. Most people including me, we assume our properties are safe nothing can ever go wrong. That’s the best lie we tell ourselves, not because we are ignorant but we just too lazy to go to research about it. But now from this book, I know better than to make quick assumptions.

Many people are focused in getting paycheque but they don’t know how to use the money when they get it. That’s whyΒ  someone can earn a lot of money but they still have debts bigger than their salary. To avoid misusing your money, have specific goals and make a financial plan.To help you out, you can use a notebook where you write your budget. Remember to follow it don’t just write for the fake of filling out those book pages.

if you want to have financial freedom, don’t be an impulsive spender. Sacrifice this little things that make you speed a lot of money, but then save and invest a lot. To make this easier create different accounts for your expenses. Never forget to create an emergency account because you never know what might happen later on.Β The most important thing you should note is that don’t save to spend but save to build.Β When investing remember what Warren Buffet said : Be fearful when others are greedy and be greedy when others are fearful.

Put 20% of your salary in investment. Then you split it up: 10% for fixed deposit and 10% for stock portfolio. Never, i repeat never invest in areas you don’t know, do your research first or ask professional advice from experts. This is one of the greatest lesson I have learnt from this book. Moreover, never say your salary is too low to invest or save or your too young. Trust me, the you, five years to come will be grateful if you start doing all this now.

Remember you are the average of the five people you spend the most time with. I know you have heard this quote several times, but do you truly follow. Take a minute and look at your closest friends. do you discuss about growing your investment, buying land etc. If you engage mostly in what fashion is trending but not how to grow financially, drop such friends right NOW!!!!.

If you want to make more money find your purpose in life. Discover what’s your calling, what are you more passionate about, what drives you to succeed in life. It can be centered in three places: your skill set, your passion and earning potential.

Remember improving your net wort is more important than upgrading your wardrobe. Also if you don’t follow your dreams you will end up working for someone who did.

criticismΒ 

I wont criticize the book much only a little. i wish the author could have gone deeper to give insights on the investment part.

Apart from this i would give the book 7/10, go grab your copy now!!!!!.

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