Saturday, October 22, 2016

How to be a smart money woman

Aimed to offer women from Nigeria inspiration and support in pursuing and managing their financial dreams, this book by the owner of the website Smart Money Africa, Arese Ugwu, appeals every woman, especially those from areas where their status and achievements are not yet equally considered with men. 
The Smart Money Woman is the story of Zuri, a gifted woman working in the investment sector going through times of financial hardship only because she was unable to plan her budget and balance her spending. At the end of each chapter, there are some short financial advices and a couple of exercises that will help you to track your expenses, think about the right savings and investments and prioritize your debt payment. 'People with bad debt habits will typically go into debt buying things their income cannot support', like for instance, 'items that don't appreciate in value and most likely can't cover the cost of the debt over time'. 
There are a lot of ideas that any of you can consider from tomorrow on, for improving the financial situation, like, creating a plan for emergencies - around 9 months that can be covered in terms of rent and main necessities, in case of unemployment - setting financial goals for the year, put your money at work, by buying portfolios and investing in land or real estate. 'The most successful people are the ones who are able to articulate what they want for their lives. Success is deeply rooted in having a solid plan that is tailored to what you want'. 
Interesting are also the remarks and observations about the role of some women appearing in the story in the family. Some are just hunting for a rich husband, some are the real breadwinner but not officially acknowledged so, by fear of not affecting the social status of the man. Some are just advised to downplay their achievements in order to be more attractive. Although not very widespread, such mind settings can be encountered once in a while in some societies outside the African world as well.
The book is well written and has many interesting ideas that can help you advance your business or your financial independence.
Disclaimer: Book offered by the publisher in exchange of an honest review

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