Why Are You Broke? When there is so much information about MONEY | Collen Lemawane

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The Business Book Club supports the Signature Library – a book for their centre of learning is all that is required for you to attend one of these interesting and fun evenings.

Tonight’s South African author was Collen Lemawane, the author of ‘Why Are You Broke? When there is so much information on money’.  Mr Lemawane has an honours degree in communication and is currently in the public eye via various television programmes.  In 2012 he collapsed and was paralysed from the waist down.  A lengthy stay in hospital had him looking at his finances and the journey began; notes on a cell phone became a book on personal finance – one with valuable information for every person earning an income.

Amongst stories from his life, demonstrating how and why he came to write the book, Mr Lemawane dropped a few pearls of wisdom……

Be jealous of EVERY cent you spend

Pay attention to detail (see exercise below)

Bank charges eat capital – be aware of the cost of investing

Examine your relationships / friendships – what role does money play? 

What is YOUR relationship to money – is it something that you value or do you toss it fruitlessly away?

Love is love and money is money – the two are different

Do not be embarrassed or ashamed to ask for advice from a financial advisor – you, your money and your advisor should all be in partnership

We can look forward to more financial insight from Mr Lemawane in the near future – he is busy investigating and writing a book looking at why and how so many businesses close or are liquidated; finding the commonalities and suggesting ways to avoid this happening to your business.

Do you really know what things cost?  Do the following quick exercise to see if you are paying attention to the details:

  • Take your latest grocery purchase till slip.
  • Cover the prices on the right hand side of the slip.
  • Write the amount you think each item costs next to the item.
  • Uncover the actual prices, compare what you have written to the actual cost  and see if you are paying attention to the detail.

I failed this one for sure!

2 May 2017

#EventReview #NonFiction #PersonalDevelopment

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