Review of: 25 Money Strategies Your Teachers Forgot to Tell You About

by Richard Pan copyright 2013

Summary:

This book is directed at young people just starting out. It outlines 25 money saving tricks and tips to use to begin wealth accumulation – tips that the author himself has used at just 21 years of age.

Read this book to understand and address:

Richard presents his readers with multiple different ways to approach the start of wealth building. With each, he explains not only what the tip or trick is, but also why it worked for him.

What I liked:

Its great that the author gives us a smorgasbord of options from which to pick and choose. There was one trick that I especially liked. He called it “Spend and Save”. It is one I hadn’t heard before. The gist of it is to pay yourself each time you spend, then go  put 10% of what you spent into your savings.

I also love that someone so young has already taken an interest in getting control over his personal finances and has internalized some great ways to save.

What I wished for:

Sometimes the wording choices in the book tripped me up while reading it. Richard is one of those gifted folks who speak several languages, English being one and maybe not his birth language. Although the word choices and placement within the sentence adds to the charm of the book, it sometimes gives those of us who are raised speaking American English pause.

Also, being the parent of adult children, I wasn’t too excited about his strategy of living with parents during young adulthood!

Favorite quotes:

“There is a program called “Youth in Action” which summarizes all information about projects within the EU. You can apply to any of the currently available projects you want and you will get the chance to go to another country for a period of 10 to 20 days. And the best part is, which also is directly related to the money strategies I am talking about in this book, is that for this kind of experience you don’t have to pay almost anything.” p 60

“But how does taking care of your health have anything to do with money strategies? Very simple, the better you take care of your health now while you’re young, the less health problems you will have when you are older.” p. 63