Manage your cash

2011-11-12 10:54

Before you start reading books on investing, you need to first look after your rands and cents. Learning how to create a budget, how interest works and which bank accounts provide the best returns will help you to create the capital you need to start investing.

These three books provide good basic money management skills

From Debt to Riches: Steps to Financial Success

Phumelele Ndumo

Price at Kalahari.com: R131

I accidentally came across this book while browsing in Exclusive Books and I bought it immediately.

It contains everything you need to know about managing your money – from buying your own car and educating your children, to how to own your own home.

The book also focuses on debt and “tells you things that the credit providers don’t want you to know”.

In the book Ndumo even looks at stokvel bank accounts offered by the banks and realises what a rip-off they are – and that a fixed deposit with Capitec will provide far better interest.

This book is just so practical that if I were to write a book, this is the book I would want to write; definitely worth the buy if you’re serious about getting your money matters in order.

Suze Orman’s Financial Guidebook: Put the 9 Steps to Work

Price at Kalahari.com: R134

After reading a financial book, one is often inspired by all the great ideas, but how do you start implementing them.

With this in mind, money guru Suze Orman has released a practical workbook that sets out tasks for you to complete that will help you sort out your finances.

This is a great financial DIY book and a good way to kick-start your New Year on a financially sound foot.

Manage Your Money: Live Your Dream

Sunel Veldtman

Price at Kalahari.com: R149

In this book, author Sunel Veldtman focuses on the relationship we have with money.

Money problems are just like being overweight. We know we should eat less and exercise more, but why don’t we?

In the same way, we know that we should be saving and cutting down on debt, but why don’t we? By understanding our money emotions, we are able to make better decisions.

This bestseller is aimed directly at women. During Veldtman’s career as a financial adviser, she found that women tend to leave their finances to their husbands or partners, which leaves them financially vulnerable.

Although aimed at a female audience, Veldtman says she has had very positive responses from men, who have read the book to get insight into their partner’s money mind.

The book provides practical financial and investment advice, so whether you’re a man or a woman, you will have all the information you need to make good financial decisions.

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