“You’re Not Broke, You’re Pre-Rich” by Mapalo Makhu was recommend to me and I finally got it so here we are here with a book review! Since re-entering the working world in 2019, I have been trying to adult. Last year I got my first “serious” job and I wanted to get my finances in order. So like any millennial I searched for financial books on the internet and Instagram. I came across a very popular one which I never finished because I think it just was too detailed at the time. The book mentioned in this blog post was a hit! So let’s get into it…
The premise of this financial book is to simply show you how money works in a simple, relatable way. It’s filled with real-life scenarios about day-to-day money matters as well as investments for the future you. It begins discussing your relationship with money and how to navigate the relationship. It also dives into money mindset which is a great start as we need to adopt our mindset surrounding money! Most us are scared of speaking about money, especially with family and the book gives you advice on how to do this. Black tax is a term most commonly used in South Africa referring to the financial help that black professionals are expected to give to their extended families. You’re Not Broke, You’re Pre-Rich gives you advice on how best to set boundaries and manage your agreements surrounding black tax.
You’re Not Broke, You’re Pre-Rich shows you how to budget and save. It shed lights on financial scams, funds, and estate planning. Our parents may believe that property is the best investment however in this book I learnt it is not. There are multiple ways to invest money that grow much faster than property investments. Well, the key here is that your property is an investment if it’s not the one you live in!
The author Mapalo Makhu is the founder of Woman & FInance and an award-winning personal finance coach.
As the title suggests “You’re Not Broke, You’re Pre-Rich”, shows you how you can best use the money you already have to reach your milestones. The key important takeaway for was how to best use investments and free yourself from debt.
My rating:
8.5/10.
I really enjoyed reading this book so much so that I did a YouTube review below as well. I found this very simple and easy to follow whilst being quite informative. If you are a millennial looking for financial advice then I would recommend this book. It also highlighted the reasons we have different covers such as life and disability cover as well as marriage laws. I found this really interesting due to the stories shared from real-life people. She also invited experts on some of the topics to share their insights which I thought was great! I would read it again and recommend you try it.
Have you read this book or will you be reading it? Let me know in the comments.
To watch my YouTube review of this book & The Power of Habit, check out my most recent YouTube video here:
