How to Get an “A” in Personal Finance

Preet Banerjee is a well-known Canadian personal finance and investing expert, Globe and Mail columnist, host of OWN’s TV show Million Dollar Neighbourhood, financial panelist on CBC’s The National, and author of the popular blog WhereDoesAllMyMoneyGo.com. He has just written a new book entitled Stop Over-Thinking Your Money!

Personal finance is a lot like physical fitness. In order to be in better shape, everyone knows they have to work out and eat well. A personal trainer delivers results, not by showing clients a new way to perform sit-ups, but rather by simply making sure the sit-ups get done. In the book, Banerjee explains the financial equivalents of what you need to know about exercise and diet in order to be in top financial shape.

There are so many buzzwords in the world of money that when most people hear them their heads spin, their eyes glaze over, or they tune out altogether. It can be overwhelming, and for many of us, it seems like there is just too much to know—so we don’t get started taking care of our money. The good news is that of all the information out there in the personal-finance world, you will only ever need to know at most about 20 percent of it. That small amount of knowledge is what will put you ahead of many Canadians.

Banerjee explains in five simple rules how to think about your finances and focus on the 20 percent of what you really need to know to confidently take charge of your money. I love how the author presents the 5 simple rules right on the first page of the book, in the Introduction section. This is followed by a blueprint showing how you can score an easy A with your personal finances. He even mentioned fellow Torontonian blogger Kerry K. Taylor’s book 397 Ways to Save Money and her famous budget spreadsheet.

It’s a fun read because of Banerjee’s conversational writing style. He does not throw in any acronyms, formulas, complex calculations or strategies. He drives home the idea of keeping it simple and not procrastinating until the perfect plan comes along. Best of all, according to Banerjee, “An A+ is better than an A, but an easy A is way better than the C- most people are currently scoring.” Sounds good to me.

What are you waiting for? Go get your easy A by picking up a copy of Stop Over-Thinking Your Money at the library today!

Posted by Christina, Reference Librarian

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