Wednesday, April 24, 2013

Book Review: Let's Talk Money by Akhil Khanna

On the jacket:


Warren Buffett has two rules. Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1. Let me add a Rule No. 3: Know how to apply Rule No. 1. For, neither our upbringing nor our education gives money any significant place. Money is the least discussed topic within a family. Formal education about it is absent.

The aim of this book is to help people from non-financial background to become aware of the world of money. In a simple, jargon-free language, it tries to acquaint us with this world ??? the various options one has of investing and the things one should bear in mind while choosing an option. We come to know of the complexities of the global investment climate we live in today and the dangers to our investments.

Remember: It is not important what one earns; true wealth is what one manages to keep.

Review:

This was a surprise read. If you are from a non-finance background and even do not have the knack for it, what do you do when  you simply have to understand some terms, but nothing gets through to your brain? It's quite fair, we are not supposed to understand everything, but when something is put across to us simply, and in the form of examples, it makes life so so simple.

We deal with money all the time, more for our future than for our today. We hate inflation. But what do we understand about it, except that we need to pay more for everything? Why does it happen? Khanna has explained all monetary terms in a simple manner with examples from our daily life. Money concepts can now be at the tip of the tongue of a novice too.

Let's Talk Money is extensive. In the book, you will find topics like money with it's supply changes as well as inflationary/deflationary environments, property, business & commodities, fixed income, debt, global environment, risk to investments, insurance, invest in happiness as well as the world financial crisis 2008. My favourite of all these chapters were the ones talking about insurance and risk to investments.

Let's Talk Money is the kind of book I would have loved to have had as a part of curriculum during my university days. You can be a medical professional, a housewife or a journalist, money will make more sense to you now.

Rating: ****/5

[This is an author request review. The opinions are strictly my own and not been written under any obligation.]

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