Financial Freedom: Your Guide To The Best Personal Loans For Excellent Credit – Book Review: Your Money, Your Future: The Ultimate Guide to Finding Financial Freedom When was the last time you read a personal finance book that focused on the Kiwi economy? Frances Cook delivers her second book, expertly covering the topics of FIRE to earn more and managing your earnings as an investment foundation. Anton shares his thoughts on this great read!
As the host of Cookbooks, one of New Zealand’s top shows, journalist Frances Cook is one of the country’s leading personal finance commentators. Cook released his debut show, Stories from a Hot Business, in 2019 to wide acclaim. His new book ‘Your Money, Your Future: The Ultimate Guide to Finding Financial Freedom’ was published in early 2022 and became one of the best selling books in NZ in the weeks following publication.
Financial Freedom: Your Guide To The Best Personal Loans For Excellent Credit
Your Money, Your Future covers all aspects of personal finance and achieving financial freedom. Cook presents step-by-step information to teach the reader everything from Finance 101 to FIRE (Financial Independence, Early Retirement), how to earn more through promotions, salary negotiations, side hustles, and more than that.
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A personal finance practice can often come with limitations. Everyone has heard the phrase “You won’t get fat if you don’t eat avocado toast” or “stop buying coffee at Starbucks and buy it instead.” This way of thinking can be harmful because you put all the blame for your financial situation on yourself. It costs a lot of money. You don’t give enough importance to investment. In fact, the amount of money you can save by limiting your expenses is limited, while the amount of money you can make is (technically) unlimited. This is why I love how Cook uses chapters 3 and 4 to talk about how to actually get promoted and why you shouldn’t have an unreasonable attachment to where you work. He did not negotiate high salaries, even early in his career, becoming a $1 million difference in lifetime earnings.
This chapter is great for new investors, even experienced investors can find useful reminders here. Cook explains why we should build our wealth before retirement (most millennials won’t be able to retire at age 75 because of the high cost of living, student loan debt, and holding too many assets) cash) and talks about how to do that. You can invest to get a better chance of growing your wealth in the long term. Namely, Cook explains what index funds and ETFs are and explains why passive investing is generally superior to active investing in long-term returns. It’s an incredibly valuable reminder for anyone considering active investing – most professional investors don’t beat the market over time, so what are your chances?
I love how Cook makes his book relatable to those living in New Zealand and Australia. Much of private finance and investment content is surprisingly American-centric. That’s great if you live in the US and need to use your financial system, but it can get a little confusing when you live elsewhere and have to transfer familiar information to another system with different rules. . New Zealand, for example, has a financial system similar to the United States, but some areas such as 401Ks and insurance have significant differences. Of course, most of the information presented by Cook is universal. However, some of the broader details, such as why NZ has to comply with the 4% superannuation rule compared to Australia, stand out to me.
“Money is the grease that keeps our lives alive, but our lives are deeply personal. Everything, everything, will need to be adapted to your personal situation.” – Frances Cook, Your Money, Your Future: The Ultimate Guide to Finding Financial Freedom
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However, a running theme throughout the book is that although Cook touches on many points, it can sometimes feel like you’re not getting as much in-depth information as you could. You can see this in the credit section. Cook gives a great example of why paying off your debts now is important and outlines two basic strategies to achieve this: bad debt and the debt snowball. Although both methods are effective, I wish Cook would elaborate more on the pros and cons. It is generally understood that the snowball of debt is good on paper if we consider human emotions and motivation, but getting out of debt snowball is at the top. But that is to be expected from a book of only about 250 pages. It’s not meant to teach you advanced financial concepts—it’s meant to give you an introduction to examining your finances and choosing ways to achieve financial freedom. She more than succeeded in that.
The “Financial Guide” glossary and glossary are great additions to the book. By adding these at the end of the book, Cook provides quick lessons that you can understand at a glance and a realistic definition of personal finance. All of these things in one place will allow you to quickly refresh your memory without turning the entire book into a separate page.
Overall, I would recommend “Your Money, Your Future: The Ultimate Guide to Finding Financial Freedom” to all New Zealanders and especially Australians. It must be said that personal finance books that focus on personal finance in general or specifically in the United States are a dime a dozen. Those who present personal finance through a Kiwi lens are hard to find and therefore very valuable to New Zealanders.
After his speech, Cook said: “Money is the fuel that keeps our lives going, but our lives are personal. Everything, everything, will need to be adapted to your personal situation. “I think that’s one of them. Here are the good things about this book. As the title suggests, it’s your money and your future, so Cook gives you the information to fit your situation.
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Anton is a Marketing Manager and is currently completing his BComSci in Marketing and Ecology working alongside Anton started his investment journey in high school and hasn’t looked back since. He is a strong supporter of index investing, although he also likes to entertain individual stocks in groups.
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Francis Cook is a reformed finance man, currently hosting podcasts for the New Zealand Herald, Newstalk ZB and RadioSport. He is best known for hosting the personal finance podcast Making the Books, one of New Zealand’s top podcasts. With a Masters degree in Media Studies from the Victoria University of Wellington, Francis went on to work as a journalist, first at RadioLive and then at NewstalkZB, before moving into politics at ZB. He recently moved to the Herald, first as a senior media reporter and now
