Just like most people, I had a long list of resolutions for 2019. Unlike every year, this time I intend to keep them. Ok, atleast one of them - to read atleast1 book per month. This could be too less or too much, depending on which side of the 'reader' scale you are. While I have always enjoyed reading, it has not really been consistent and intentional. Hence, the resolution.
Half-way into the year, am already at 8 books, happily in line with plan. Having a clear goal helped. To ensure I follow through, I invested in 2 audiobook subscriptions (both Audible and Storytel) - which has been such a wonderful discovery! Not only is it easy on my pocket with a vast library readily available, my commute time is better utilized.
Each of these books has opened my mind to a new perspective. Sharing their most impactful takeaway for me :
1) Becoming by Michelle Obama
I was blown away by the simplicity and authenticity of her story - their story. She is so relatable as the woman who is donning multiple roles - wanting to be more than just a title. She talks candidly about her journey from a kid with a modest upbringing, to a young adult who was driven by ambition, but torn to creat an impact, to a middle aged mother and wife juggling multiple roles to finally her fears, challenges and lessons which came with the title of the First Lady.
My takeaway - We are all on a journey - with each phase of our life, there is something new to explore. The possibilities of who we can be are endless.
2) Atomic Habits by James Clear
This book gave a step by step action plan towards building a good habit or breaking a bad habit. It is full of examples and stories which makes it an easy, and effective, read.
My takeaway - Setting the right cue, with the right incentive, can train our mind to behave in a desired manner. This is a more sustainable way to build a habit, which eventually add up to meet our goals.
3) The Richest Man in Babylon by George S. Clason
This parables based book took a while to engage me. Since the stories are set in ancncient Babylon, it felt hard to connect with initially. However, this classic offers very practical advice about personal finance like '7 cures to a lean purse' and ‘The 5 laws of gold’ which make it hard to put down.
My Takeaway - We are slaves only to our limited knowledge or the lack of determination; if we work to enhance our skills, anything, including having our desired financial life, is possible.
4) Rich Dad Poor Dad by Robert Kiyosaki
This was my first money book ever when I was 18 and it changed how I thought about money. I re-read it this year and it had a totally new perspective after all these years. It talks about building a whole new way of approaching our money - as a tool to create possibilities and endless opportunities, if only we put our mind to it.
My Takeaway - Creating wealth is a mindset and requires,amongst others, making whatever money we make, work for us. Use our cash flows to build assets and not add liabilities.
Read my detailed book review here ( add hyperlink to medium blog)
5) Smart Money Smart Kids by Dave Ramsey and Rachel Cruze
This book has a world of wisdom when it comes to getting started with money conversations with young kids. It is a step by step guide on developing financial skills at every stage of the child's life. Dave Ramsey and his daughter Rachel Cruze talk about their story, making it relatable and doable.
My Take Away - Took the first step in confidently engaging with my 6 year old on the value of work and how to earn and save money to meet future goals. Lots of tips for kids at every age – am sure to keep going back to this book every 2 years
6) How your child can win in life by Matthew Raggett
A simple book on the key skills needed to raise kids in changing times, by the headmaster of Doon School. He talks about the basic skills of reading (to build curiosity & encourage finding their own point of view), writing (to being more clarity of thought) and play (importance of learning to work with a team , be competitive without making others not want to play with us, building the spirit to give & take)
My Take Away – This was an easy and engaging read on stuff which sounds so intuitive, as a parent. Yet there were parts which stayed with me – like reading with my daughter right till she is in primary and secondary school ; engaging in play with her to build a sense of collaboration; and spending ‘time’ in mindfully developing these skills which will be so critical for her in her adult life.
7)The Little Book that Still beats the market by Joel Greenblatt
This one is for those looking to actively build their own stocks portfolio. Business principles are explained through simple examples which made it a delight on a relatively complex topic.
My takeaway - The essence of investing in a good stock is to understand business metrics, and set-up regular portfolio review (every year). While understanding the parameters of the Magic Formula, I also came across several other screens being used by investors to identify their own unique portfolio. It got me more confident in making my stock choices and I continue to learn.
8) Women with Money by Jean Chatzky
Speaking specifically about women behaviors in the context of money, this book walked me through several relevant topics like building a parallel business, to finding the joy of spending, to enabling our kids with money conversations and finally leaving a legacy.
My takeaway - Leaving a Legacy is not about what you will leave behind, but rather the focus canbe on creating a meaningful impact while we are alive.
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