Smart Money Woman: 5 Important Financial Lessons We’ve learnt from Arese Ugwu
I won’t be telling a lie if I say no one wants to become broke and penniless; not even you! You, like every other person, wants the good life but you could be inadvertently working very hard towards a life of poverty and financial dependence. In the Smart Money Woman, Arese Ugwu presents financial wisdom in a very captivating style of fiction that ensures the reader reads till the last word. The following points are lessons i learnt from reading this book and i can’t agree less with the publisher of Genevieve Magazine, Betty Irabor. When she said, ‘’Arese puts an interesting and picturesque spin on how women can better manage her money in the book. ‘The Smart Money Woman’. She addresses the issue of money management in a way every woman can relate to. The style is mellifluous yet profound in its message’’.
- We Can Grow our Own Wealth
Using her lovely narrating style, Arese teaches the 21st century woman in the African context specifically how to emerge financially successful and not just look like it. A smart money tip for smart ladies is to own their finances, make their own money and grow their wealth by making the money work for them.
- You Don’t Make Money to spend it
This book helped me clear the firmly rooted misconception that money is made to be spent. Reading through the two hundred and ten pages of the Smart Money Woman, I realized that there are other purposes for money like saving and investment. According to Arese, “developing a wealthy mindset requires the understanding of the concept that the way you spend, invest and manage ten naira is the way you will spend, invest and manage ten million”.
- Make Your Money Work for You
This book opens us up to the possibility of experiencing financial freedom. The gospel of this book is that becoming financially secure especially as a woman in this generation is not rocket science and it helps you to make the right financial decision per time. One of which is that you should feed your passive income enough to get to a point where the assets you have accumulated can pay you enough of an income to pay for your lifestyle. It pays also to have an emergency fund. Set up a system to build an emergency fund.
- If you don’t treat the money you have with respect it will leave you with no respect.
This book teaches us that we have to learn to spend with intention. By allocating our resources to reflect the lifestyle we want and are able to sustainably afford. For example, if you look through your bank statements, will it suggest that you are an unhealthy alcoholic with a channel bag addiction?. You have to give up the excuses and learn to control money instead of letting money control you.
- Debt can be useful too!
Yes! Debt can be useful to attain financial success. But how you use it matters. Wealthy people use debt as a tool to leverage their investments and grow their cash flow.
Do not go into debt acquiring things that your income cannot support. Poor people use debt to buy things that make rich people richer.
If you think at this point that you need to set your finances straight, The Smart Money Woman is the book you need to be reading now. follow Arese Ugwu on instagram @smartmoneyarese or the @thesmartmoneywoman to get more info on how to purchase the book.