Still counting down to 50 books this year, can I get an amen? On this blog post, I will share lessons learnt from the book The Smart Money Tribe by Arese Ugwu. I finished reading this book sometime last month, May and I enjoyed every bit of it. In my spree to read new books, this has been my fastest read in a long time, after reading the book, I started taking deliberate actions to put my finance in order.
Speaking about finance, it is the core of this book. Arese uses the book to educate women about money, weaving in friendship, relationship, career, fashion and all other things we love to pass the message across. If I must say, she did an amazing job there! While reading the book, I smiled a couple of times as she mentioned brands and individuals I knew and this made it even more relatable.
The story, which started with ‘Smart Money Woman’ in 2016, takes us through the journey of five young women to financial freedom. The storyteller in me wants to tell you all about these women but for time and space, I would advise you read the book yourself to get the full gist. What I can tell you for free is, these women had a strong friendship I consider goals, I mean actual friendship goals, the type that takes prayer, work, commitment, love, trust and time to grow, the kind I yearn for.
Away from that, these women had various unhealthy financial habits/parasites that drained their hard-earned money and left them living from salary to mouth at one point or the other. I personally think every young woman can pinpoint one of these habits in their everyday life, I saw myself in a few but thanks to the solutions and advice Arese dished out in ‘The Smart Money Tribe’, I am in a better place.
At this point, let’s jump into the lessons I learnt from ‘The Smart Money Tribe’;
- Money, Money, Money; for a better way to break it down, there were different lessons on money. From how to invest, to how to grow money, spend money, use money as a tool, deal with habits causing you money, the list goes on but I will shed light on the investing part though. After reading ‘The Smart Money Woman’ a few years ago, I opened a mutual fund account because I have no appetite for risk, that was a good move but I didn’t realise the need to fund the account regularly to yield better returns from the compound interest. Now, I aim to fund it monthly. These are the kinda actionable money lessons I got from reading the book.
- Friendship and network; I low-key envied the friendship in this book; it was so beautiful to read about and fantasies that I was a part of the squad. Now I want to make more friends, nurture the ones I have and offer value to people. On networking, the saying ‘you network is your net worth is true if you nurture the relations, create and offer value.
- Intrapreneurship; I didn’t think there was a word like this until I read the smart money tribe. The term intrapreneur is used to describe those in the corporate spaces, working for an organisation or company. This buttressed my believe that not everyone should be an entrepreneur, thankfully Arese agrees with me and explains that some should be Intrapreneurs instead. The good thing is, this doesn’t prevent you from reaching your money goals.
This list of things I learnt goes on but I would rather sum them into three and have you read the rest. Book 3 of 50, guess what book I will be reading next in the comment and catch up on my other reads here.