Review: I Wish They Taught Money in High School

i wish they taught money in high school book

Review: I Wish They Taught Money in High School

When I started learning about personal finance and the road to financial freedom during my first year as an employee, I was completely flabbergasted. A thousand questions raced through my head, like, “Why did I only learn about this now???” and “Why did they never make it a priority to teach this in high school or college?” and even, “Why would they let us graduate without this crucial plethora of information on how to manage our money?” It was as if they just let us free with no know-how of managing money, and that’s just cruel. I can imagine that many of the people in my age group who will never have access to this information or will never decide to use this information will just live their whole life as employees, saving what little they can and squandering most of what they make. Isn’t that why most employees ask a week after payday, “Where did my salary go?”

Upon making this discovery (with a big help from my buddy Ate Manessa), I decided to start motivating my workmates and friends to start even small investments. Most of them were unreceptive to the idea. The idea of investing in the stock market seemed to grand for them, and they had a hard time grasping the possibility that they can make money passively. They would rather spend it on the latest gadgets, shoes, clothes, food. I was heartbroken with the rejection, and I wasn’t even making money from teaching them about it! It was just that I felt that they were wasting so much opportunity, and more importantly, time.

When I became a Financial Advisor for Sun Life to take my passion for personal finance to the next level, I was met with more clients who were hesitant to invest. They always had more important stuff to buy, or more important trips to make, that investing always took a backseat on the list of their priorities. But for every single person I help get started on the road to financial freedom, I consider it a small success. Getting them more aware of the opportunity that the stock market holds for them was amazing, especially when they become hungrier for knowledge and more open to new opportunities to make their money grow.

So when I picked up “I Wish They Taught Money in High School” to read and review, I was already familiar with many of the ideas they hoped to introduce. I have read most of the books they have referenced, and have been practicing many of the suggestions they made. But, the many analogies they made were a refreshing perspective on money, and something that many people might find easier to understand.

One of the things I learned from the book was the use of credit cards to pay appliances and furniture, or other important costly purchases. I try to stay out of debt as much as I can, so I limit the use of my credit cards to paying for my online transactions and booking airline tickets. Reading the book made me realize that when establishments offer 0% interest on your purchases, and you take advantage of it, you don’t feel as burdened by the purchase since you practically pay the same amount divided into six months or more. More importantly, instead of paying in full upon your purchase, you can invest that extra money, and beat inflation. Say for example, you’re buying a refrigerator at Php 24,000. You already have Php 24,000 on hand, and you’re thinking of paying in full. But, the appliance center is also offering a 0% six months to pay, which you decided to take advantage of. What happens is that you pay Php 4,000 for the first month, and decided to buy shares of a mutual fund for Php 15,000 at 1 Peso per share. The next month, the share price of the mutual fund is already Php 1.50. Had you paid the refrigerator in full, you would not have been able to allocate more for buying mutual fund shares, and you would have missed the opportunity to make a fifty percent profit. Good decision making! :)

i wish they taught money in high school book

Other than that, the book also tried to make sense of financial jargons. That’s usually the first challenge that people new to the money game face. Whether you’re an employee, or someone who has plans to put up a business in the future, the book will help you with feasible steps to financial freedom. This book is an eye-opener for many of us who were raised to study hard and find a good job in the hopes of our parents’ that we will someday live a comfortable life. The salaries from our jobs could only do so much as to make sure we have food on the table, a roof above our heads, and clothes on our backs. And sometimes, we even find it kulang. If we would find ways to make the money work and grow for us, only then will we finally be able to break the cycle of becoming corporate slaves, and the cycle of us being dependent on our paychecks.

I hope that this book makes it to the reading list of students still in high school or college levels. Getting to read the book early on will equip them with the right knowledge and attitude about money, something that many people need today. But this book isn’t just for students. It’s for fresh graduates, employees, managers even. It’s for everyone who always lives paycheck-to-paycheck, people who are struggling to make ends meet, and people who, despite their big salaries, are always in need of more money. This book is for people who have goals they want to achieve, like buying a new house, retiring early, or getting their kids through college.

A Chinese proverb says, “The best time to plant a tree is twenty years ago. The second best time is NOW.” It’s never too late to start learning about how to handle your finances, and how to make more money without the extra sweat. I Wish They Taught Money in High School is available on Lifestyle Upgrade 101’s Online Store, which you can visit by clicking on the link.

I hope you take away many learnings from the book as much as I did! And if you ever learned anything new or promising, don’t forget to pay it forward and share it with as many people as you can. -HANA

3 comments to Review: I Wish They Taught Money in High School

  • alvin imperial  says:

    i agree. people had more time to spend their salary with the things that are less important, rather than saving money or put it on a small business.. and if you gonna advise them, they will rejected you or doesn’t care what your talking about. it’s like their mind was a frozen meat that hard to melt. :D

  • brett rossi  says:

    Have any arguments about me adding this on twitter?

  • Sharon Que  says:

    thank you for this review Hana.. Cheers! :)

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