A month or so ago, I was given the chance to review a 2-in-1 book – I Wish They Taught Money in High School So I Can Start my Business Right Away by Sharon W. Que and I Wish They Taught Money in High School So I’m Not Dependent on My Check by Clarissa Serina-Dela Paz .
But, first of all,
She is in preschool…
And she is an entrepreneur!
She sold fifty packs of pastillas in four hours!
And so I was thinking, this book – “I Wish They Taught Money in High School” by Clarissa Serina-Dela Paz and Sharon W. Que should have been entitled “I Wish They Taught Money in Grade School” because I do believe that as soon as a child can differentiate a one peso coin from a five peso coin, you can start teaching her about money.
It is actually a 2-in-1, back to back book!
But, the authors do have a strong point. Money and how to handle it, how to make it grow and how to start a business should have been taught in high school! Before I read this book, I have already read Robert Kiyosaki’s Why “A” Students Work for “C” Students and Why “B” Students Work for the Government. In this book, Robert questioned why the American School System is designed to be an employee-making machine while students who are visionaries and creative thinkers (people like Thomas Edison who was homeschooled by his mom after the teacher thought he was an idiot and drop-outs like Steve Jobs, Mark Zuckerberg, Bill Gates ) are considered losers.
I Wish They Taught Money in High School , which chronicled the financial journey of the authors, is an easy read and an inspiration, especially for the young ones and those among us who are just about to embark on a financial fitness journey (There are heavy references to the books of Robert Kiyosaki and T. Harv Ecker, so if you really are serious on finally gaining financial freedom, you should read their books as well). It introduces money concepts in a way that people with no financial or accounting background can easily understand.
I felt some sort of “inggit” (more like admiration, really). I was like, hey, the authors started well-off and are now enjoying life, having their money work for them, at a very young age. If this book came out when I was in college, I would have retired as early as 30!
By the way, this is a twin-book, so let me start with my thoughts on:
I Wish They Taught Money in High School So I Can Start My Own Business Right Away
I have always wanted to go into business, but inasmuch as I was raised by parents who were employees who were raised by my grandparents who were employees as well, my money psyche is that my income will depend on my paycheck alone.
This book gave me a headstart on my vision to finally start a business as it spilled out SECRETS TO REACHING YOUR GOALS:
What truly stuck in my mind is that the author talked a lot about Passive Income. This is income which works for you, even when you are not doing anything to have it. I know a family whose family members get millions of royalty from a big mining firm in Benguet. My dad has a couple of houses for rent which is earning passive income as well. I would want to have my own passive income soon, too.
I Wish They Taught Money In High School So I’m Not Dependent On My Paycheck
I read this first, because as much as I wanted to be an entrepreneur, I was raised and educated to be an employee. I was dependent on my paycheck, until I learned that employees can be taxed as high as 32% of their net taxable compensation income while the rate of capital gains tax from stocks not traded through local stock exchange is from 5-10%. That was when I started to look for other earning alternatives.
I got a variable life insurance (although I had to withdraw it earlier. I wonder what the authors’ thoughts on variable insurance are because it certainly is a sore disappointment for me?) and a Balanced Fund UITF which earned around fifty percent in five years. I am now investing in the stock market. My goal is to regularly invest monthly and literally let it grow!
Here is the most valuable lesson that will help me on my “Truly Rich” Strategy: Clarissa’s Work SMART:
S – Start Small
M – Make a Habit (and stick to it)
A – Acquire More Knowledge
R – Raise the Bar of Creativity
T – Think Outside Your Salary
I have always wondered how it would feel to sleep with your money still working for you. With the concepts this twin book presented (and oh, I loved how the authors said that Credit Card is not evil! I knew I was right !), I am sure you and I are ripe for a lifestyle upgrade and are on our way to being FINALLY FINANCIALLY FREE!