After reading Secrets of The Millionaire Mind,  I gave myself a few weeks of break to absorb the learnings from the book and then I started reading The One Minute Millionaire book. You must think I’m quite serious about becoming a millionaire with all the titles I’ve been reading. Yes of course I’m serious. Wouldn’t you want to learn how to be a millionaire too?

Anyway, whilst it took me a very short time to read Secrets of The Millionaire Mind, it took me a long while to read this one. The One Minute Millionare book is written in quite a different way to cater to the different styles that people learn from. Written by Mark Victor Hansen (perhaps you would recogise that name from the Chicken Soup For The Soul series) and Robert Allen, this book is written in two formats to cater to the styles I talked about.

On the left side of the book’s pages the content is written up as lessons on how to amass your wealth. On the right side of the book pages unfold a fictional story about a widowed mother who needs to make a million dollars in 3 months time. So depending on the kind of reader you are, you can read either of the format that suits you best, or both the formats in order to appreciate the lessons more.

Basically The One Minute Millionaire book talks about lessons on how to make money in a short period of time. And throughout the book, it also talks about how to do it the enlightened way. This was what I learned about the book before reading it. So now that I’ve completed it, do I think it is a worth while book to spend time reading and re-reading? Read the rest of this post for a review and what I think of this book.

I chose to start reading the fictional part of the book first, and then to follow through with the lessons bit. I figured that since I like reading novels, I would quickly finish reading the ficton but I was wrong. It took me very long to finish it as I didn’t find it compelling enough.

Though the story was jazzed up to make it interesting, I didn’t find it so. I actually thought it was a rather boring storyline but for the sake of wanting to know what are the lessons behind the story, I pressed on to finish reading it.

Once I was done reading the fiction, I didn’t bother to read the left side of the pages for the lessons. Ultimately I found the ideas introduced in the book to help someone make a lot of money to be nothing new and compelling. I’m not saying that only new and fresh ideas would work, but I found the lessons offered to be very general.

It is a rather disappointing read but luckily I bought this from a warehouse sale and it cost me less than RM10. I thought a big name like Mark Victor Hansen, who’s also a millionaire, would make this a great learning for me but it really didn’t turn out that way.

Having said that, anyone who’s interested to read this book and want to get it off me, feel free to do so. Pay RM3 for the book (it’s in very good condition) and the actual postage incurred, and the book is yours.

To read more personal finance and money related articles, visit Penny Sense.

Is it worth your time to read The One Minute Millionaire book?

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Do you think we lack personal finance or investment related magazines and journals here? I do think so, as we only have a handful of them on our shelves. If I’m not mistaken, I think we have less than 5 of such magazines to help people learn about money management and investing in general.

I used to buy Fundsupermart’s quarterly magazine that’s available in Singapore (read previous entry here) but it’s rather costly with shipping costs and conversion of the Singapore dollar to RM. But the good news is that Fundsupermart’s magazine is now available for the first time in Malaysia! I saw a copy in Borders and had to pick it up.

It’s the first regional copy to be published and made available in the region. Each quarterly copy of the Fundsupermart magazine costs RM15. What do I think of the regional Fundsupermart magazine? Well for the first issue on the market, I think it’s not too bad. No doubt it is still predominantly written more for the Singapore market, there are some articles that are Malaysian focused.

I think given time, and with good response from Malaysian readers, there could be more Malaysian skewed analysis and articles in the magazine. That’s what I hope anyway. The editorial team is open to feedback, so it is a good avenue to let the team know what we hope to see improved.

If you are interested in the magazine, pick up a copy and have a read. The cover story is an article that would catch our attention: What & Where to Invest in 2009.

To read more personal finance and money related articles, visit Penny Sense.

First Fundsupermart magazine available in Malaysia

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This is quite a new book on the shelves that’s targeted towards women who want to begin taking control of their personal finances. The book “The Smart Cookies’ Guide to Making More Dough” caught my attention when I flipped through the latest copy of Personal Money magazine.

However, after a quick read on Amazon, I decided that this book isn’t really suitable for me, but it is great for those who have not been planning their finances and want to learn how to start doing so in cultivating a better saving habit, controlling spending and learn to manage their debts and invest for the future. This is not to say that I’m good in the above areas and therefore this book is not applicable to me. I just feel that this is more for those who have not come to realise the importance of personal money management, and are looking for ways to start.

Anyway, you have a read on some reviews and decide for yourself if this is one book that would help you along. And if it does, please share! I may have missed a good book! This book retails at RM96.90.

Some editorial reviews on this book found on Amazon are as follows:

From Publishers Weekly
Starred Review. In 2006, a group of 20-something women saw an episode of Oprah that featured financial experts offering advice on paying down debt. Though all five were outwardly confident in their careers and goals, they were secretly drowning financially; between them, they had a combined $35,000 in credit card debt and barely any savings. Inspired by what they’d seen, they started a money group and took responsibility for educating themselves about spending (and saving) habits, goals and investments. Within a year they made great strides: they’d added thousands to retirement accounts, paid off more than $15,000 in credit card debt, saved more than $15,000 and had all bought or were well on their way to buying homes. The enterprising authors address the nitty-gritty of goal-setting, negotiations for raises, debt management and mortgages, and their plainspoken, encouraging style and helpful breakdown of information make this the perfect gift for recent grads—or anyone who needs convincing that financial health is attainable. (Oct.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review
“Anyone who’s afraid to take hold of her financial life should grab this inspiring book with both hands. These five women, who started as a ‘collective financial mess,’ turned their situations around in less than a year. They can show you how to do the same.”—Liz Pulliam Weston, MSN Money columnist and author of Deal With Your Debt and Easy Money

“Smart Cookies is a great motivator for anyone looking to sharpen their financial skills and shine a bright light on their financial life. Witty and insightful, this book shows people how they can band together and achieve their financial wishes by getting those dirty little money secrets out in the open and working in concert with one another. It’s a great read.”—Howard S. Dvorkin, founder of Consolidated Credit Counseling Services, Inc., author of Credit Hell: How to Dig Out of Debt

“A perfect gift for recent grads—or anyone who needs convincing that financial health is attainable.”—Publishers Weekly, starred review

To read more personal finance and money related articles, visit Penny Sense.

A personal finance book for women – The Smart Cookies’ Guide to Making More Dough

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There aren’t that many personal finances and investment reading materials out there. There are lots of business magazines that tell you what the corporates are up to but these don’t quite help with making good investment calls. So what do you read to find out how others are managing their money, or what the market holds for individual investors?

Since I can’t find much in town, I started sourcing for reading materials in our neighbouring country, Singapore. What interests are the quarterly magazines published by Fundsupermart.com. The magazines are priced at S$8.00 each. You can order a magazine or a regular subscription online. I made an enquiry about having the magazines shipped here and was informed that I need to pay for my own postage. I was given a quote and it was quite costly so I decided not to proceed with my order. Instead, I got my Singapore-based cousin’s help to buy them off the rack and bring them back whenever she is headed back here.

So far I’ve only started with 2 issues and I find them quite a good read. If you have access, you might want to try out an issue and see if they are of any help to investment portfolio.

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