3 out of 4 stars
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Waste Not, Borrow Not by Takako Daniel is a nonfiction book designed to help the reader find money they didn’t know they had. The author covers ways the reader might be able to save money in different areas of their life. Then, she moves on to talk about what to do with the money they have saved.
I really appreciated the author’s kind and welcoming tone throughout the book. She is not harsh or judgmental, and she treats the reader like a friend who asked for advice. Many of the suggestions in the book would be easy to follow through on. However, I found myself wondering how many people would be willing to do what the author suggests in order to save money. For example, she says to turn your thermostat to 68 degrees Fahrenheit or below in the winter and 78 or higher in the summer. I know many individuals who would not agree to do this, so this suggestion may only be useful for those who live alone and can choose the temperature of their home.
The author begins the book with a chapter on budgeting and ends it with a chapter on investing, which I thought was a unique way to help the reader take charge of their own finances. Many books with financial advice assume how much money the reader has, but this book includes advice and suggestions for people in a variety of financial situations. The chapter on budgeting could be applied to households below the poverty line and those making $1 million or more each year. However, some chapters will not be relevant for everyone because they focus on specific situations. For example, there is a chapter dedicated to women who wish to quit their jobs and become stay-at-home moms. Some readers may find themselves skipping chapters and skimming others to find the information they need.
Overall, I would rate this book 3 out of 4 stars. The advice in it was easy to follow, and I appreciated how people in different financial circumstances could apply the author’s suggestions to their lives. Unfortunately, I don’t believe the book was professionally edited, and I think many readers would choose to skip at least one chapter in the book because they already have a certain skill or because they don’t think the advice will apply to them.
I would recommend this book for adults who hope to improve their financial circumstances. Whether you are in debt, have bad credit, want to learn how to create a budget, or just want some ideas on how to save money, this book probably has some useful advice for you. If you already find yourself budgeting, saving, and investing, you might want to look elsewhere for a more advanced guide that it specifically targeted at people like you.
Waste Not, Borrow Not
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