Sunday, January 13, 2008

Wealth Within Your Reach | Making Your Money Work

I have just finished reading the book of Francisco J. Colayco Wealth Within Your Reach and Making Your Money Work. I enjoyed the books very much and I recommend it to anyone who has not read this book yet to go to your favorite book store and get a copy, it's a great way to learn financial literacy. After finishing reading his book, it got me thinking. Most of us strive to work hard to climb the corporate ladder or start our own business to earn lots of money, but after reaching our goal in earning the money what then? We often believe that getting more money is the solution to our problems, but without knowing how money actually works our money woes will never cease. Most of us don't know how or where to properly invest our savings. We often ask family and friends for advice and often get very mixed reactions like investing it in jewelry, property or just leave it in your savings account. By reading the book, we will be given ideas on how and where to properly invest our earnings and what things we should avoid buying.

Filipinos love the lottery and we often see long queues of people in lotto outlets especially if the prize is already in the tens of millions of pesos. But winning the lottery does not guarantee the good life often associated with winning that amount of money. Just recently a news item that caught my attention about a guy winning thirty millions pesos from the lottery end up being poorer than before he won the money. How is that possible most of you may wonder? It's easier than it seems to squander off thirty millions pesos by making the wrong financial decisions. I can't recommend these books highly enough and if you manage to pass by powerbooks give it a browse and I am sure you'll be hooked.

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