"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
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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Comments
I too am intrigued about the home conversation because i share Erik's perspective. Growing up and to this day my parents consider buying a home to be a sound investment and I do not agree with them. I like not being responsible for maintenance and I like the flexibility of renting. i think my money is better served else where. I'm going to run over to amazon to see if this book is still free. Thanks for sharing!