April 2017

 

In April 2017 I read and reviewed 3 new books!

 

1. The Website Investor (7.0 points)

‘The Website Investor’ is just the introduction I needed before buying a website!

This book provides a really good overview of the different steps for anyone thinking of buying a website.

The book is relatively short so can be used as a guide. There are a number of case studies which bring what the author is saying to light.

One of the key themes in the book is how to avoid being scammed. Apparently there are lots of people pretending to sell websites or mis-selling websites.  This shines a light on the fact that going into this business is very unregulated compared to other types of investments. That being said, the author highlights a lot of ways to protect yourself against this. For example, paying for a website via escrow. This  means using a middle party which holds the money (from the buyer)  and content (from the seller) until both parties are satisfied that they will get what they expected. In this case, the buyer gets to have the website for a short period of time to review and make sure it is as advertised. Once the buyer is happy (within an agreed time period), only then the money which is held in escrow gets transferred to the seller.

Read my full review here

 

2. Kidpreneurs (kids book)

I wish I had read ‘Kidpreneurs’ when I was a kid – could have been a millionaire by now!

This is the second kids book I’ve read about money, after ‘Save Your Acorns’. This book is about getting kids to understand what an entrepreneur is and how businesses work. Most kids don’t ever get to learn about the option of becoming an entrepreneur. Kids are taught that they have to get a good education so they can get a good job working for someone else.

Learning about business at a young age means you can try things out without having anything to lose. Or at least only going bankrupt at the Bank of Mum & Dad. I’m definitely going to make sure that our kids know all about becoming an entrepreneur when they grow up.

Read my full review here

 

3. I Will Teach You To Be Rich (8.16 points)

I Will Teach You To Be Rich is a comprehensive guide to getting your financial house in order!

There is such a lot of information in this book. It covers everything from managing credit cards, bank accounts, pensions and investments. It helps that the book is structured as a weekly guide as it would be ‘information overload‘ if you tried to do all the different things Sethi recommends at the same time.

The book is about laying down the foundations of good money management which over the long run will help you become ‘rich’. There is no magic formula to make you rich quick (sorry for the spoiler!).

The book was put together after Ramit Sethi’s personal finance blog became very popular. I can see why his blog and book are so popular. His style is very direct. He uses phrases like “.. give me a break, pay your taxes, do your civic duty“. He clearly feels that people just make excuses for not managing their money and tries to combat most of these excuses head on in this book. I’m a big fan of this approach.

“Listen up, crybabies. This isn’t your gandma’s house and I’m not going to bake you cookies and cuddle you. A lot of your financial problems are caused by one person: you”.

Read my full review here

 

What books am I going to read  in May:

I have already started reading the book about Elon Musk which I’m really enjoying.

I’m also going to read a book on investing vs gambling as I feel that a lot of people get these two things mixed up.

 

Previous book reviews:

MarchWhat books did I read in March 2017?

FebruaryWhat books did I read in February 2017?

JanuaryWhat books did I read in January 2017?

What books did I read in April 2017?
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