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Master Your Money, Master Your Life
Discover the five funds funda approach.
When it comes to money, ignorance is definitely not bliss. In fact, ignorance is your biggest enemy—stopping you from living a life of abundance and happiness.
This practical and powerful book—never relying on any jargon—busts popular myths, bares open financial secrets and empowers you to be a master of your own financial destiny with a unique five funds funda approach.
Inspiring and actionable, this book will transform your life—not just financially, but also holistically.
When it comes to money, ignorance is definitely not bliss. In fact, ignorance is your biggest enemy—stopping you from living a life of abundance and happiness.
This practical and powerful book—never relying on any jargon—busts popular myths, bares open financial secrets and empowers you to be a master of your own financial destiny with a unique five funds funda approach.
Inspiring and actionable, this book will transform your life—not just financially, but also holistically.
284 pages, Paperback
First published March 25, 2019
About the author
Abhishek Kumar
18 books29 followersAbhishek Kumar has earned a Master of Financial Engineering from University of California, Los Angeles (UCLA), an MBA from IIM Kozhikode and a B.Tech from IIT-BHU Varanasi. He has worked as a Corporate Banker for leading private sector banks in India and as a Software Engineer for a leading MNC.
Having devoted a considerable part of his working life to understand, integrate and deepen the concepts surrounding personal finance, Abhishek has focused towards bringing out books on Wealth Creation & Accumulation which could be read & understood by anyone. The advice presented in his books are based on the timeless wisdom of wealth creation and are practical & easily implementable.
He is also a critic of the conventional ways of managing money which he says have been designed not to help the end investors but the institutions and the intermediaries which reap benefits exploiting the ignorance of the people.
Abhishek lives in San Fransisco, Bay Area and may be reached at therichestengineer@gmail.com.
For more details visit:
https://authorabhishekkumar.com
Having devoted a considerable part of his working life to understand, integrate and deepen the concepts surrounding personal finance, Abhishek has focused towards bringing out books on Wealth Creation & Accumulation which could be read & understood by anyone. The advice presented in his books are based on the timeless wisdom of wealth creation and are practical & easily implementable.
He is also a critic of the conventional ways of managing money which he says have been designed not to help the end investors but the institutions and the intermediaries which reap benefits exploiting the ignorance of the people.
Abhishek lives in San Fransisco, Bay Area and may be reached at therichestengineer@gmail.com.
For more details visit:
https://authorabhishekkumar.com
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Displaying 1 - 30 of 46 reviews
September 14, 2019
After Rich Dad Poor Dad and Tony Robbins's Money - MASTER YOUR MONEY is definitely the next best book I have read in the Finance genre. And I promise I have read a LOT of them. Most of them go on about the same old advises, save, don't spend, invest and YOU'RE RICH! Not this book. The best part about this book is that it has totally rewired all money strategies to device one that involves the best practices of the greatest experts of finance. As I flipped the pages, I could slowly sense the strength of the words which were strategies backed by research and logic and that clearly puts forth the amount of efforts that have gone into the creation of the book. It would be a shame if this book does not become a cult classic in finance for Indians and I highly suggest you grab this book today!
Abhishek Kumar doesn't look at money in isolation but in integration with family and social life and the influence it has on it. The higher we move up the ladder, the higher we find ourself surrounded by stress that originates due to or lack of money. So, why not take a step back? And if moving ahead is the desire- we may as well be strategic about it. He busts several money myths - my favourite being that some people have the idea : We should take a loan as it provides a tax benefit to us. He almost mocks the people with this mentality as he puts for his argument : " It is equivalent to saying we should fall sick so that our sick leave doesn't go wasted"
The book is not only full of logic and reasoning regarding the ideals of handling finances, but also provides numerous solutions- in the form of 5 ideas which guide you towards a fulfilling life where you enjoy your money without wasting it all and leaving nothing for your retirement. They prepare you to meet both desires and emergencies, and since the very core of the book is the 5 fund(a)s I wouldn't share it - However, you should definitely grab the book here.
If you want to be successful you need to master the tool called money, and this book will help you do that Today!
Abhishek Kumar doesn't look at money in isolation but in integration with family and social life and the influence it has on it. The higher we move up the ladder, the higher we find ourself surrounded by stress that originates due to or lack of money. So, why not take a step back? And if moving ahead is the desire- we may as well be strategic about it. He busts several money myths - my favourite being that some people have the idea : We should take a loan as it provides a tax benefit to us. He almost mocks the people with this mentality as he puts for his argument : " It is equivalent to saying we should fall sick so that our sick leave doesn't go wasted"
The book is not only full of logic and reasoning regarding the ideals of handling finances, but also provides numerous solutions- in the form of 5 ideas which guide you towards a fulfilling life where you enjoy your money without wasting it all and leaving nothing for your retirement. They prepare you to meet both desires and emergencies, and since the very core of the book is the 5 fund(a)s I wouldn't share it - However, you should definitely grab the book here.
If you want to be successful you need to master the tool called money, and this book will help you do that Today!
June 6, 2019
Nice Jargon free book. Puts across long known ideas in a forceful and refreshingly new way. Compels you to think.
February 17, 2020
Master Your Money, Master Your Life by Abhishek Kumar
I am always wary of reading books related to Money management as they keep on going about the age-old jargons of how not to spend money and invest more and etc. Truth to be told, these jargons don't work anymore in today’s time, where money has considerably lost its value and life has become quite fast. What we need are ideas and suggestions that are quite simple and less time-consuming. So yeah, I was quite apprehensive when I started reading the book ’Master Your Money, Master Your Life by Abhishek Kumar. But when I slowly walked through these pages, I realized that not all books are the same.
Abhishek Kumar’s second book Master Your Money, Master Your Life, is backed by thorough research and is a logical-funded treasure trove of strategies. Trust my words when I say that book is a beacon of light, guiding you to the path of strategic goals achieving and mastering your slippery friend ’Money’.
What impressed me most about this book
This book is one of the few books on Finance and strategies, that I’d like reread. The author deals extensively with many topics, and the ideas and strategies mentioned in the book require us to test the ideas and concepts, sometimes repeatedly.
This book ’Master Your Money, Master Your Life’ doesn't hustle you into doing things. It guides you one step at a time, busting several money myths - which we were led to believe - on the way.
The author has divided the book into different segments so that readers can gradually take in things on their own pace. I especially loved the segment ’Five Funds Funda’, and I am quite sure to follow it, in the best possible way.
Though the only drawback of the book was the first half. I had to cross the hurdle of 130 or so pages to know about the money saving strategies. But then the first half wasn’t either bad.
I loved the use of language in the book, especially it being a Non-fiction. Usually, such books are full of vernacular that is not easily understood by the masses. The author here made sure to keep things in a simplistic manner, but also made it quite informative and engaging at the same time.
I am always wary of reading books related to Money management as they keep on going about the age-old jargons of how not to spend money and invest more and etc. Truth to be told, these jargons don't work anymore in today’s time, where money has considerably lost its value and life has become quite fast. What we need are ideas and suggestions that are quite simple and less time-consuming. So yeah, I was quite apprehensive when I started reading the book ’Master Your Money, Master Your Life by Abhishek Kumar. But when I slowly walked through these pages, I realized that not all books are the same.
Abhishek Kumar’s second book Master Your Money, Master Your Life, is backed by thorough research and is a logical-funded treasure trove of strategies. Trust my words when I say that book is a beacon of light, guiding you to the path of strategic goals achieving and mastering your slippery friend ’Money’.
What impressed me most about this book
This book is one of the few books on Finance and strategies, that I’d like reread. The author deals extensively with many topics, and the ideas and strategies mentioned in the book require us to test the ideas and concepts, sometimes repeatedly.
This book ’Master Your Money, Master Your Life’ doesn't hustle you into doing things. It guides you one step at a time, busting several money myths - which we were led to believe - on the way.
The author has divided the book into different segments so that readers can gradually take in things on their own pace. I especially loved the segment ’Five Funds Funda’, and I am quite sure to follow it, in the best possible way.
Though the only drawback of the book was the first half. I had to cross the hurdle of 130 or so pages to know about the money saving strategies. But then the first half wasn’t either bad.
I loved the use of language in the book, especially it being a Non-fiction. Usually, such books are full of vernacular that is not easily understood by the masses. The author here made sure to keep things in a simplistic manner, but also made it quite informative and engaging at the same time.
June 10, 2019
As far as my memory goes, I have read around 3-4 books related to how we can manage our money and finances with many tips out there. But the problem with those books was that it explained money and the methods to save it in the way that someone like me who has started earning since last 3-4 years itself shall never be able to comprehend the jargons and what to do exactly to understand whom to believe and whom not to believe. I have finally completed reading a book which has actually satisfied me in terms of suggestions provided. The book is “Master Your Money Master Your Life” by 2nd time author, Abhishek Kumar, and published by Wisdom Tree.
Reading a non-fiction book becomes great when authors try to keep language and narration simple and I must applaud Abhishek for managing to explain such complex terms and topics in as easy language as possible that reading this book has not only been informative but also entertaining and exciting. There are so many advertisements, financial advisors, family agents, family friends who have filled our minds with multiple concepts on how money can be multiplied and saved. Author had a difficult task of going against them and putting up his belief and make sure the reader agrees with it. I must say I agreed on most of things that Author explained in the book though there are few things on which I did disagree too.
Author has divided the book into different segments to take the things ahead gradually so that readers can grasp the same with the pace of the book. Author starts by explaining the concept of Goal-making which we generally find in Management books and with-it author tries to convince us to be serious for mastering our money and monitor it by creating a serious goal for the same. And then the author goes on explaining us how we are made to believe that our life has been simplified with loans that we can take even for our small purchases but derives the conclusion on how we are actually losing money with each loan. Post that, author goes on a long spree to dilute our passion for owning as many credit cards as possible. In fact, author suggests us to not have credit card at all. Well, here I disagreed as author tries giving suggestions that seems to be too over-protective. Anyway, the myths that author busts regularly up till this chapter is really an eye-opener.
The good thing till this chapter in this book is that in the 1st half, author has told us what not to do and what to completely avoid so that we spend less on things which are not necessary. But the problem here is that still, author has not begun speaking on what needs to be done to save and multiply money. Post this, author starts providing us concepts such as Five Funds Funda where he tells us how to distribute our money to assure we are able to secure all kind of requirements in our life which needs money to be fulfilled. Another unique thing that author has described in one of the chapters which is highly important is how you can effectively regulate and build your money if you and your spouse do it together rather than doing it individually. This is what many advisors miss to include while planning our money.
In the last quarter of the book, author concentrates upon the factors such as real estates, mutual funds, ULIP, Insurance etc. and shares his To-Do list and Not-To-Do list. Here also author has tried his best to keep the jargons away and explain as basic terms as possible so that people who know nothing about it can also enjoy the lessons given.
This book is actually a must-read book as the kind of myths that author has dismissed is really commendable and makes us understand a lot of things. I liked the Five Funds Funda concept and I am surely going to follow it as much as possible. The way author has tried explaining the concepts with the help of charts, fictional conversations and examples is effective and impacting. I am glad that author has not thrown much of calculations, percentages and numbers while explaining the same as it becomes highly irritating for the reader to understand the same and get stuck in a concept or on a page.
Now, talking about the drawbacks of the book, as I have already mentioned above, reader will have to wait for the complete 1st half of the book to actually know where the money needs to be kept. Secondly, as I said above for the chapter on Credit-cards, author has completely invalidated it whereas author should have also told us about how it can be used for benefits in control. Similarly, I believe there are many types of Pension Plans and Insurance Plans which author has not detailed the way I was expecting. If we should go towards LIC or other Insurance Companies and their differentiation and comparison isn’t provided. Similarly, author could have suggested some Mobile Apps which could help us in planning our money, buying stocks, investing in mutual funds etc. Similarly, I was expecting strategies from author on how to plan investment which can help us with Income tax. How to manage money even with having children and how to save for their education, marriage and future is not included.
But, overall, considering even these drawbacks, the book is still worthy enough to go through and follow the basic tips that author has suggested. I give this book 4 stars out of 5. Recommended for those who have just started earning and doesn’t know where to keep their money so that they can save it better.
Reading a non-fiction book becomes great when authors try to keep language and narration simple and I must applaud Abhishek for managing to explain such complex terms and topics in as easy language as possible that reading this book has not only been informative but also entertaining and exciting. There are so many advertisements, financial advisors, family agents, family friends who have filled our minds with multiple concepts on how money can be multiplied and saved. Author had a difficult task of going against them and putting up his belief and make sure the reader agrees with it. I must say I agreed on most of things that Author explained in the book though there are few things on which I did disagree too.
Author has divided the book into different segments to take the things ahead gradually so that readers can grasp the same with the pace of the book. Author starts by explaining the concept of Goal-making which we generally find in Management books and with-it author tries to convince us to be serious for mastering our money and monitor it by creating a serious goal for the same. And then the author goes on explaining us how we are made to believe that our life has been simplified with loans that we can take even for our small purchases but derives the conclusion on how we are actually losing money with each loan. Post that, author goes on a long spree to dilute our passion for owning as many credit cards as possible. In fact, author suggests us to not have credit card at all. Well, here I disagreed as author tries giving suggestions that seems to be too over-protective. Anyway, the myths that author busts regularly up till this chapter is really an eye-opener.
The good thing till this chapter in this book is that in the 1st half, author has told us what not to do and what to completely avoid so that we spend less on things which are not necessary. But the problem here is that still, author has not begun speaking on what needs to be done to save and multiply money. Post this, author starts providing us concepts such as Five Funds Funda where he tells us how to distribute our money to assure we are able to secure all kind of requirements in our life which needs money to be fulfilled. Another unique thing that author has described in one of the chapters which is highly important is how you can effectively regulate and build your money if you and your spouse do it together rather than doing it individually. This is what many advisors miss to include while planning our money.
In the last quarter of the book, author concentrates upon the factors such as real estates, mutual funds, ULIP, Insurance etc. and shares his To-Do list and Not-To-Do list. Here also author has tried his best to keep the jargons away and explain as basic terms as possible so that people who know nothing about it can also enjoy the lessons given.
This book is actually a must-read book as the kind of myths that author has dismissed is really commendable and makes us understand a lot of things. I liked the Five Funds Funda concept and I am surely going to follow it as much as possible. The way author has tried explaining the concepts with the help of charts, fictional conversations and examples is effective and impacting. I am glad that author has not thrown much of calculations, percentages and numbers while explaining the same as it becomes highly irritating for the reader to understand the same and get stuck in a concept or on a page.
Now, talking about the drawbacks of the book, as I have already mentioned above, reader will have to wait for the complete 1st half of the book to actually know where the money needs to be kept. Secondly, as I said above for the chapter on Credit-cards, author has completely invalidated it whereas author should have also told us about how it can be used for benefits in control. Similarly, I believe there are many types of Pension Plans and Insurance Plans which author has not detailed the way I was expecting. If we should go towards LIC or other Insurance Companies and their differentiation and comparison isn’t provided. Similarly, author could have suggested some Mobile Apps which could help us in planning our money, buying stocks, investing in mutual funds etc. Similarly, I was expecting strategies from author on how to plan investment which can help us with Income tax. How to manage money even with having children and how to save for their education, marriage and future is not included.
But, overall, considering even these drawbacks, the book is still worthy enough to go through and follow the basic tips that author has suggested. I give this book 4 stars out of 5. Recommended for those who have just started earning and doesn’t know where to keep their money so that they can save it better.
May 4, 2019
A Myth Buster...
When I started reading this book then I thought it would be yet another book on personal finance but as I progressed I was proven wrong.
The book takes a completely different approach and explains how we have been fooled by the financial institutions in accepting whatever they promote and market. The author says it is not that we are not earning well and neither it is that we lack the discipline of investing. He says one of the primary reasons why the typical middle class people don't get to become rich as they should deserve is because financial institutions and intermediaries are taking away our hard earned money at the pretext of helping us; while in reality, they are helping themselves.
The book presents a series of myths made popular by the financial institutions and shows the truths behind those myths. I really liked the way it was presented in a tabular form and enjoyed reading them.
The book was an eye-opener for me as it explained the inner workings of different financial institutions such as Banks, Credit Card companies, Insurance companies, Mutual Funds, Stock brokers and showed why it is in their interest to keep the masses ignorant of financial literacy so that they can keep on earning interests, fees, & commissions from the common investors like us and make us stay at our initial wealth and they keep on becoming rich.
Another highlight of the book is that it shows what exactly we should do to avoid the traps of these financial institutions and how and where we should invest our money so that our money not only grows with time but stays with us. And yes, though I have been investing in the market for quite some time, there were many new things which I learnt and I thank the author for providing us with these lessons in such a simple way.
A highly recommended book and I have already suggested my family members and close friends to read this book. I am sure they too would benefit from this book.
When I started reading this book then I thought it would be yet another book on personal finance but as I progressed I was proven wrong.
The book takes a completely different approach and explains how we have been fooled by the financial institutions in accepting whatever they promote and market. The author says it is not that we are not earning well and neither it is that we lack the discipline of investing. He says one of the primary reasons why the typical middle class people don't get to become rich as they should deserve is because financial institutions and intermediaries are taking away our hard earned money at the pretext of helping us; while in reality, they are helping themselves.
The book presents a series of myths made popular by the financial institutions and shows the truths behind those myths. I really liked the way it was presented in a tabular form and enjoyed reading them.
The book was an eye-opener for me as it explained the inner workings of different financial institutions such as Banks, Credit Card companies, Insurance companies, Mutual Funds, Stock brokers and showed why it is in their interest to keep the masses ignorant of financial literacy so that they can keep on earning interests, fees, & commissions from the common investors like us and make us stay at our initial wealth and they keep on becoming rich.
Another highlight of the book is that it shows what exactly we should do to avoid the traps of these financial institutions and how and where we should invest our money so that our money not only grows with time but stays with us. And yes, though I have been investing in the market for quite some time, there were many new things which I learnt and I thank the author for providing us with these lessons in such a simple way.
A highly recommended book and I have already suggested my family members and close friends to read this book. I am sure they too would benefit from this book.
January 26, 2020
Just an amazing book. I think this one is the best book I have read by an Indian author. Yeah, it's a book on personal finance but the book starts with a chapter on importance of goal setting. This is just an example of how this book is very different from other books on finance. I have gained so much knowledge from this book on personal finance. The best part is nowhere in the book I felt some financial expert is giving me some suggestions which are perplexing to grasp. The author has explained everything in a very lucid manner as if your best friend is explaining everything. A must read book for all Indians. Go for this book.
February 10, 2020
This book dispels and busts a lot of existential personal finance myths and is an eye-opener. I would definitely recommend to all new earners and young working professionals for a better understanding of personal finance.
March 7, 2020
Master Your Money Master Your Life, this gem of a book by Abhishek Kumar is a complete package for anyone if you want to know and understand how money works and how to manage personal finance.
The book is easy to comprehend, contains minimal jargons, covers every aspect of handling your money from setting financial goals, understanding how the banks make money out of us, how we can make money, busting numerous myths regarding investing, a simple 'Five Funds Funda' to manage your monthly income by putting it in 5 different places:
1. Financial Freedom Account
2. Emergency Fund Account
3. Sinking Fund Account
4. Fun Account
5. Necessity Account
If there's got be one book that tells you the secrets of the banking and finance sector, how to manage your finances, busts popular myths & preconceived notions regarding investments, stock market & specifically focussing on the Indian market, this is the Book.
When someone has a degree from some of the premier institutions of the world: UCLA, IIM, IIT then it's definitely worth spending some time reading and listening to that person. Abhishek Kumar, the author of this book is definitely one of them.
When you've just started learning how to add 2 numbers and then suddenly comes up and starts talking about topics like Calculus, that was my situation when I accidentally used to ponder over finance channels or newspaper articles, hearing terms like Equity, Stocks, Shares would just be too much to much handle.
But this book has completely changed the way I look at money and made me understand how to manage finances in the easiest way possible. I definitely recommend this book to everyone who wants to improve his understanding about money and eventually his/her financial condition.
The book is easy to comprehend, contains minimal jargons, covers every aspect of handling your money from setting financial goals, understanding how the banks make money out of us, how we can make money, busting numerous myths regarding investing, a simple 'Five Funds Funda' to manage your monthly income by putting it in 5 different places:
1. Financial Freedom Account
2. Emergency Fund Account
3. Sinking Fund Account
4. Fun Account
5. Necessity Account
If there's got be one book that tells you the secrets of the banking and finance sector, how to manage your finances, busts popular myths & preconceived notions regarding investments, stock market & specifically focussing on the Indian market, this is the Book.
When someone has a degree from some of the premier institutions of the world: UCLA, IIM, IIT then it's definitely worth spending some time reading and listening to that person. Abhishek Kumar, the author of this book is definitely one of them.
When you've just started learning how to add 2 numbers and then suddenly comes up and starts talking about topics like Calculus, that was my situation when I accidentally used to ponder over finance channels or newspaper articles, hearing terms like Equity, Stocks, Shares would just be too much to much handle.
But this book has completely changed the way I look at money and made me understand how to manage finances in the easiest way possible. I definitely recommend this book to everyone who wants to improve his understanding about money and eventually his/her financial condition.
March 9, 2020
A Masterpiece!
One of the few books on Personal Finance which will compel you to think and let you decide what is good for you. The author has done a wonderful job in bringing out the inner workings of the financial institutions and shows how this financial ecosystem works. He has tried to keep the jargons and technicalities as minimum as possible and yet has been able to explain everything a common man needs to know regarding personal finance.
The best part of the book is a series of myth busters which is present across the book where the author has busted many preconceived notions and beliefs and shows why these myths work against the common investors and why people should come out of those beliefs. I also enjoyed the "Five Funds Funda" as it is practical and quite sensible.
The book is a complete package on personal finance as it covers everything from banking, debts, credit cards, budgeting, investments, stock market, mutual funds and insurance. Icing on the cake is that it's written for Indians and talks about the Indian financial market and products.
I would highly recommend this book to anyone who would like to know more about money and finances and is interested in uplifting his/her life, financially or otherwise.
One of the few books on Personal Finance which will compel you to think and let you decide what is good for you. The author has done a wonderful job in bringing out the inner workings of the financial institutions and shows how this financial ecosystem works. He has tried to keep the jargons and technicalities as minimum as possible and yet has been able to explain everything a common man needs to know regarding personal finance.
The best part of the book is a series of myth busters which is present across the book where the author has busted many preconceived notions and beliefs and shows why these myths work against the common investors and why people should come out of those beliefs. I also enjoyed the "Five Funds Funda" as it is practical and quite sensible.
The book is a complete package on personal finance as it covers everything from banking, debts, credit cards, budgeting, investments, stock market, mutual funds and insurance. Icing on the cake is that it's written for Indians and talks about the Indian financial market and products.
I would highly recommend this book to anyone who would like to know more about money and finances and is interested in uplifting his/her life, financially or otherwise.
October 13, 2020
An excellent book on Personal Finance. After Rich Dad Poor Dad, i think this the best personal finance book in context of Indian Background. The book gives the good insights on personal finance but below are the two major key take away for me-
1. Say "No" to Credit Card: You may feel like you use your credit card optimum & always pay on time. Also there are many benefits of using cr cards like good score, offers, etc. But all of this is trap. The perks which we receive are used by bank to keep spending habits on us. That's the reason they are so willing to sell us the card. Avoid it & you'll have a peaceful life.
2. Index Investing: If you are novice investor & want to invest for long term. Close your eyes & start with index investing. It's simple, cheap & most importantly there is never any pressure to beat someone because your returns will always equal to market return.
I loved the way Abishek has explained everything in book. I'll strongly recommend to read this masterpiece.
1. Say "No" to Credit Card: You may feel like you use your credit card optimum & always pay on time. Also there are many benefits of using cr cards like good score, offers, etc. But all of this is trap. The perks which we receive are used by bank to keep spending habits on us. That's the reason they are so willing to sell us the card. Avoid it & you'll have a peaceful life.
2. Index Investing: If you are novice investor & want to invest for long term. Close your eyes & start with index investing. It's simple, cheap & most importantly there is never any pressure to beat someone because your returns will always equal to market return.
I loved the way Abishek has explained everything in book. I'll strongly recommend to read this masterpiece.
February 1, 2020
Whenever I read books on personal finance & investments, I first check the background of the author as I usually consider two sets of people from whom we should take advice on such matter. Either the person advising should be really rich and explain his life experience (Peter Lynch of One Up the Wall Street, Robert Kiyosaki of Rich Dad Poor Dad) or the person should be highly qualified teacher (Benjamin Graham of The Intelligent Investor, Burton Malkiel of A Random Walk Down the Wall Street) who explains us the nuances of investments based on their studies and research. Advice from the so-called market experts and financial advisors & journalists is usually as useless as the advice from your friends and neighbours when it comes to investing.
The author of this book seems to fit the second category (check his educational qualifications) though I am not sure what is his prime profession.
So, I picked the book thinking that I would get some real advice and I got what I was looking for. The book is not technical but covers the nuances of almost every aspects of personal finance; be it banking, investments or insurance. What’s more important is that it pertains to Indian investors as it talks about the working of Indian institutions and financial market.
Now, I am not going to reveal much of the content of this book as I think it should be best consumed by reading the book itself; what I would like to present here is that it’s a thorough read and covers almost everything that an individual investor would need to know. The main USP of the book is that it busts the popular myths propagated by the financial institutions and entities and shows how we can take actions which will help us avoid those myths. Further, it provides practical action plan which anyone can take to claim their financial prosperity.
Go for it. It will not only give you a new direction to steer your life but will also make you more knowledgeable and enlightened as far as money is concerned.
The author of this book seems to fit the second category (check his educational qualifications) though I am not sure what is his prime profession.
So, I picked the book thinking that I would get some real advice and I got what I was looking for. The book is not technical but covers the nuances of almost every aspects of personal finance; be it banking, investments or insurance. What’s more important is that it pertains to Indian investors as it talks about the working of Indian institutions and financial market.
Now, I am not going to reveal much of the content of this book as I think it should be best consumed by reading the book itself; what I would like to present here is that it’s a thorough read and covers almost everything that an individual investor would need to know. The main USP of the book is that it busts the popular myths propagated by the financial institutions and entities and shows how we can take actions which will help us avoid those myths. Further, it provides practical action plan which anyone can take to claim their financial prosperity.
Go for it. It will not only give you a new direction to steer your life but will also make you more knowledgeable and enlightened as far as money is concerned.
February 15, 2020
As the title suggests...this book is managing your life by managing your money. It's more of a self-help book than a finance book. Kind of self-help personal finance.
This book takes a dig at various financial institutes and explains how are we trapped in various products offered by them. The author also explains why most of us cannot become rich as these institutes takes out hard earned money just to become rich themselves (thus not helping us). This book also presents various myth busters which are just an act of these financial institutes of taking our money to benefit themselves.
The book also explained the workings of Banks, Credit Card companies, Insurance companies, Mutual Funds, Stock brokers, etc which charge higher interests, fees, & commissions from us and and they keep on becoming rich.
The best part of the book was the ways how we should avoid these traps, should focus on becoming wealthy and not on being rich, how to properly invest money and leave it to grow and finally the Five Funds Approach.
A highly recommended book for anyone who wants to sort out his personal finances and need to track his money and become wealthy.
P.S. It is written in very easy English. Happy reading.
May 30, 2019
No Nonsense Must Read for anyone who wants to create wealth sensibly
In the last few years, I have been working on my personal finance after a near what catastrophic start. That leads me to talk to a lot of business professionals, entrepreneurs and people who have made substantial wealth in their track record. I have spent time reading some of the books that the author have also recommended in his dialogue. In & Out, it not only makes sense, but it works!
This book is crisp, if reading 200 odd pages to gain clarity and improve your financial position, then I personally believe you should go for it. The matter is well articulated, and the important agendas where errors can be made are covered. I liked the chapter that’s dedicated to couples, and it makes a lot more sense because teamwork always works. And as Abhishek says one plus one is four.
The Highlight of the book:
The Myth busters - These myths set the tempo for the book. Very clear, no beating around the bush.
Again, one thing I personally liked is that the author appreciates the challenge for financial awareness of the people, and we are not exclusively taught finances. The basics are so simple, yet lack of awareness helps lose money for many.
If I would describe the book in a few words it would be FINANCIAL CLARITY. LOW-RISK HACKS. SIMPLICITY. DETAILED.
When I say low risk, the author has made a special effort to keep it very simple without asking anyone to even try to explore leverage or any kind of practical risk for that matter.
After reading this, I want to go out an read the “Rich Engineer”
Detailing: 5/5
Simplicity for a Non-Finance Individual: 4.5/5
Language: 4/5
Inspirational: 4/5
In the last few years, I have been working on my personal finance after a near what catastrophic start. That leads me to talk to a lot of business professionals, entrepreneurs and people who have made substantial wealth in their track record. I have spent time reading some of the books that the author have also recommended in his dialogue. In & Out, it not only makes sense, but it works!
This book is crisp, if reading 200 odd pages to gain clarity and improve your financial position, then I personally believe you should go for it. The matter is well articulated, and the important agendas where errors can be made are covered. I liked the chapter that’s dedicated to couples, and it makes a lot more sense because teamwork always works. And as Abhishek says one plus one is four.
The Highlight of the book:
The Myth busters - These myths set the tempo for the book. Very clear, no beating around the bush.
Again, one thing I personally liked is that the author appreciates the challenge for financial awareness of the people, and we are not exclusively taught finances. The basics are so simple, yet lack of awareness helps lose money for many.
If I would describe the book in a few words it would be FINANCIAL CLARITY. LOW-RISK HACKS. SIMPLICITY. DETAILED.
When I say low risk, the author has made a special effort to keep it very simple without asking anyone to even try to explore leverage or any kind of practical risk for that matter.
After reading this, I want to go out an read the “Rich Engineer”
Detailing: 5/5
Simplicity for a Non-Finance Individual: 4.5/5
Language: 4/5
Inspirational: 4/5
May 15, 2019
This book is a thorough read and really helped me understand the intricacies of financial industry. It also opens the secrets of financial entities and let the reader know how to act with their money so that it is them who really benefits and not the banks and other such entities.
The good thing about this book is that it doesn’t promise you some super results but talks how the common investor can earn their fair return by following some simple rules.
The book is jargon free and I found it to be completely practical. You can put all the advice presented in the book into action very easily. Also the language of the book is fairly easy to read.
The good thing about this book is that it doesn’t promise you some super results but talks how the common investor can earn their fair return by following some simple rules.
The book is jargon free and I found it to be completely practical. You can put all the advice presented in the book into action very easily. Also the language of the book is fairly easy to read.
August 31, 2019
Very insightful for an overall life guidance. This book tells us the role of money in our life - which starts with our life's goals / objective. The 5 Funds Funda is quite sensible, and should be followed. Very enjoyable read and easy to read and understand.
November 6, 2021
A very simple and non-technical book to understand personal finance and money management. This book easily explains how one should take care of expenses and lend their money to different investment tools present out there. We do not need fund managers. brokers and other consultants as a beginner to manage our money, just a little awareness about how banks and financial institutions works would be enough to make one a good investor.
For someone who is new to investing, I would suggest this book as a good read, as it explains what should be the psychology one should follow before parking their money into various investment options.
Abhishek highlighted simple plans and strategies which any middle-class man can follow to boost up their savings and reduce their expense, he also wrote about insurance and other strategies for how the banks fool customers in the name of personal finance and management.
For someone who is new to investing, I would suggest this book as a good read, as it explains what should be the psychology one should follow before parking their money into various investment options.
Abhishek highlighted simple plans and strategies which any middle-class man can follow to boost up their savings and reduce their expense, he also wrote about insurance and other strategies for how the banks fool customers in the name of personal finance and management.
February 27, 2021
Not a fan of non-fiction but I'm glad I read this book. "Your Money Master Your Life by Abhishek Kumar".
This book doesn't give us the same old advice instead it gives us some strategies to master our money. It smashes few money myths. I personally gained information and ideas from this amazing book.
He explains the idea of noting down our goals, understanding about money and personal finance, five funds Funda to manage our income. He also teachs us to escape the financial institution's traps. The author has done a remarkable job in making this simple and understandable.
I highly recommend this book! If you are looking for money management books here is your read.
This book doesn't give us the same old advice instead it gives us some strategies to master our money. It smashes few money myths. I personally gained information and ideas from this amazing book.
He explains the idea of noting down our goals, understanding about money and personal finance, five funds Funda to manage our income. He also teachs us to escape the financial institution's traps. The author has done a remarkable job in making this simple and understandable.
I highly recommend this book! If you are looking for money management books here is your read.
July 16, 2020
It is a great book for anyone who is beginning to Invest. The author is precise to the point and tells you the truth about what companies tell you about investment options. It lays out the pros and cons of the investment options and also emphasises on why we should spend efficiently rather than taking up loans mindlessly. Overall a great read and it helped me learn a lot about my money.. Going to destroy my credit card now.. Phew!! I really don't need it.
March 28, 2021
Must for new earners
Good book .I become too late in getting hold of this book.I did all mistakes mentioned in this book.So I strongly recommend this book who started to earn.who are about to get their first salary.
Some useful points from book(spoilers)
Have goals
Debt is not at all good
No credit cards
Live with only 80% of your pay
Have an emergency fund
Passive Mutual fund
No stocks in shares
Term insurance
Good book .I become too late in getting hold of this book.I did all mistakes mentioned in this book.So I strongly recommend this book who started to earn.who are about to get their first salary.
Some useful points from book(spoilers)
Have goals
Debt is not at all good
No credit cards
Live with only 80% of your pay
Have an emergency fund
Passive Mutual fund
No stocks in shares
Term insurance
December 29, 2021
This book is a gem. I loved reading the book because it explains the concepts so well and clarifies the myths faced in daily routine related to personal finance. I loved reading the parts on having various accounts (having a fun account was so relieving), arguments in favour of index funds and lot of myths around debt and other financial products in the market. I liked how the author took an example of a village and tried explaining his points. A fantastic read overall.
March 20, 2022
A good book for people who want to learn personal finance. This book is written considering Indian middle class people mindset and spending habits/behaviour, mostly oriented towards salaried men/women.
If you are searching for a book to improve or even begin understanding about personal finance and manage your funds effectively, this book is a must read.
The most interesting part about the book is the five funds funda.
If you are searching for a book to improve or even begin understanding about personal finance and manage your funds effectively, this book is a must read.
The most interesting part about the book is the five funds funda.
May 30, 2022
Decent book. The second half of the book is more useful as it teaches about the common investment options. If you are totally blank about savings and investment in Indian context, the second half of book can be very useful. Only reason I am giving it a 4 star.
However the first half of book is a bit repetitive. Focussing too much on cons of credit and loans. Too biased in that sense, portrays banks and financial institutions as pure evil.
However the first half of book is a bit repetitive. Focussing too much on cons of credit and loans. Too biased in that sense, portrays banks and financial institutions as pure evil.
August 2, 2020
Good intro book
Good introduction to the various financial concepts that the author has summarised from various other financial literature. Good for beginners but there is nothing new to learn for pros as the author has not brought out any new insights. Read the book in 2 days so it was a good refresher in all the basic concepts.
Good introduction to the various financial concepts that the author has summarised from various other financial literature. Good for beginners but there is nothing new to learn for pros as the author has not brought out any new insights. Read the book in 2 days so it was a good refresher in all the basic concepts.
August 10, 2020
A good personal finance book from Indian point of view. This book explains different investment concepts and opens the secrets behind financial institutions personal motives to sell you various products and services. The best part are the myths busters which sets the pace of the book.
October 10, 2020
One of the best personal finance book i have read. Two major take away
1. Credit card is a trap
2. Index investing is best investment mode for long term. Its cheap, easy and will beat maximum fund managers.
Many other good points as well. A must read.
1. Credit card is a trap
2. Index investing is best investment mode for long term. Its cheap, easy and will beat maximum fund managers.
Many other good points as well. A must read.
February 6, 2021
Easy to understand, no Jargon based financial help book. But I believe the author should have covered active mutual funds in more detail, but I guess since he suggests Index funds over active mutual fund, he didn't go much deeper on them.
Overall a good blend of self help & financial help book.
Overall a good blend of self help & financial help book.
September 13, 2021
Much to learn for everyone. The book contains basic conceptual clarity on avenues to build wealth the no-shortcut way. Being a practicing CA myself, I'm definitely going to concentrate on investing more in Indexed funds for some time now.
May 18, 2023
Excellent read for someone just starting out in their professional life. In fact others too - we tend to think we know enough, but we don't. The shocking thing is that not being aware of just one or two small nuances can create a difference of crores over a lifetime.
December 8, 2019
Simple language. Pessimism is the key. Become a passive investor. Focuses on how being frugal helps you accumulate wealth.
January 6, 2020
Worth reading ...it's gives self realization of how to value your money better and debt free living
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