"If the goods and services you purchase with your money are a true reflection of your values, then a person who pays their credit card before feeding themselves has been so hijacked by bank marketing and scare tactics they actually value the bank's interests more than their own health and that of their family."- pg 52 of How to Manage Your Money When You Don't Have Any by Erik Wecks
Making a lot of money and being financially stable do not always go hand in hand. The recession of 2008 showed us that when much of the middle and upper middle class ended up the creek without a paddle. Many are homeless and many are still recovering and earning less than what they were before. How to Manage Your Money When You Don't Have Any by Erik Wecks encourages readers to make the most of what money they have right now, before one starts indulging in their wants (using cash or credit to fund them), and to make sure the basic necessities like food and shelter are given top priority. Some of us aren't in the position see that far ahead to the wealth creation and building mindset when we just want to be able to have safe shelter, clothes and food on the table. Having been in and out of debt, a family to take care of and not wealthy just yet, Erik can be related to. His frank yet non judgmental, tone encourages readers to become critical thinkers, take control of their finances and strive for financial stability. I love that he's pro making sure your basic needs can be taken care first of before placing dire emphasis on paying off debt and even saving for retirement. The future means nothing if you're not good right now. He also inspires readers to question just about everything that involves their hard earned cash: need vs want, what do you value, credit score worship, do you really need credit as much as you think you do, aspiration for living debt free, marketers injecting "emotion" and "morals" into ad campaigns to get your dollars, why banks, many financial advisers and many debt consolidation firms don't have your best interests in mind most of the time.
He also shared, which I totally agree with, that a home is NOT a [good] investment that you will receive more money, than you put in, back on. A home is shelter, nothing more, nothing less. He doesn't discourage buying homes, he just encourages readers to stop thinking they will receive a surplus monetary return on this "investment". He also encourages people to not distress their family life and basic necessities, like food, to keep a home they can no longer afford.
I think this book would resonate well/best with those new to managing their personal finances, who's monthly expenses are more than their monthly income, who are living paycheck to paycheck or who need a financial mindset reset before they wipe out. If you already have insight into your finances and are aware of and familiar with budgeting, saving and spending less than you earn, you will just feel like he's preaching to the choir.
PS (If you have Kindle Unlimited, you can read this book for free.)
Milan is a New York City based, creative writer and the founder of AGrlCanMAC. She's a self proclaimed accessories junkie who's passionate about healthy living, adventure, books, crystals, the Law of Attraction and arts & crafts. AGrlCanMAC is a resource for women of color all over the world who want to look good, radiate good and feel good at the same damn time.
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