I must confess, my life changed after I read Smart Money Woman by Arese Ugwu three years ago. I was twenty and my father didn’t put me on a monthly stipend, all he said was “tell me when you need money” so sometimes when I want to splurge (buy scarves, sandals, clothes or go out with my girls) I just tell him that I need to buy so and so text book or pay for a practical and all that. There was a time I collected money for one book three times!! I was just spending my father’s hard earned money on things that absolutely had no value.
Before I read that book I didn’t know the practical difference between liabilities and assets, I didn’t know there was a difference between what I wanted and what I needed, I didn’t know that I was supposed to save to invest and not save to spend. I learnt so many money lessons from that book, I became financially intelligent and I kept telling all my friends about the book and I shared it with them. I developed interest in reading more books on finance afterwards, one other book that I really love is Rich Dad, Poor Dad by Robert Kiyosaki.
To my utmost delight, sometime late last year I heard that the same author of Smart Money Woman, Arese Ugwu had published a new book titled The Smart Money Tribe and I was so excited. The first thing that caught my attention when I saw pictures of the book was the pink cover and it immediately became my dream book! I finally got the book last month from an online bookstore called Bella books (IG: @bellabookss) alongside two other books on self-love and a counter intuitive approach to living a good life.
In this post, I would have loved to highlight all the money lessons I learnt from the book but it’s going to be really long and I personally don’t like reading long posts so I’m going to share a few here and continue in my next blog post.
• Are you aware that you could earn so much money and still be broke? Most times when we get a good paying job or an increase in salary, the next thing that comes to our head is how we’re going to buy designer wears, gadgets and all that stuff that in the real sense wouldn’t bring us more money.
• Do you know the difference between an asset and a liability? Not just the dictionary meaning, can you give practical examples? Do you have a positive net worth? Wait, do you even know your net worth?
In Arese Ugwu’s words, “financial abuse is a thing”; trust me it is! Whether from relatives, friends, acquaintances or total strangers, it happens everywhere. I didn’t even know there was anything called “black tax” until I read Smart Money Tribe. Do you?
My dear reader, I’m not asking all these questions to scare you especially if you’re still a teenager or in your early twenties. We are all in this struggle together and I personally believe that the earlier we learn about how to take control of our finances, the better for us. What shall it profit us to work hard and smart and still end up broke??
In my next post, I’m going to be answering all these questions and sharing well detailed lessons learnt from the book and my experiences with money and keeping my finances in check in the last three years.
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Till then, stay safe 🤗❤️
Lots of love,