Book review by R. A. Stewart
The Money School
THE MONEY SCHOOL
written by Lacey Filipich is an interesting book which explains the advantages and disadvantages of the various types of investments available. Lacey founded Money School in 2010 (Australia) to build financial literacy in adults. There is also a course for kids to teach them money skills. Lacey’s courses have been used by people from around the world to improve the financial well-being.
If you…
Ever wondered where your hard earned money goes.
Want to be financially independent years before your time
How to make the most of what you have.
Then this book is for you.
Here are some subjects she deals with;
Saving money and living within your means which is basically pay yourself first.
Diversifying your investing
Buying assets and avoiding bad debt.
On Property and negative gearing she says tax advantages are a terrible reason to buy property because they are so minimal. Negative gearing is where you spend so much money renovating the property that you show a loss on it can be claimed against your other income. She rightly points out that governments can change the tax rules so that property investors cannot claim losses against other income.
As far as Bitcoin and the like are concerned she says you may want to invest the money you would have otherwise have spent on the horses or casino in bitcoin instead. She does concede though that no one knows where crypto currency will go considering it’s short history.
Other types of investments such as bonds, cash, and the sharemarket are also covered.