Introduction
Let’s Talk Money book by Monika Halan, a 2018 Indian bestseller, delivers practical financial education. Its 14 chapters reflect Indian mindsets, saving habits, and guide readers on money, saving, and mutual funds. This article reviews the book. In this article we will review and share an honest feedback of the book Let’s Talk Money.
Monika Halan, author of Let’s Talk Money, is a leading voice in financial literacy. Based in New Delhi, she’s contributed to Mint, Outlook Money, Indian Express, and more. A vocal advocate for money awareness, regulations, and women’s empowerment, she was amazed by the power of compounding in 2003–04.
Key points of the book
- Let’s Talk Money” has 14 engaging chapters ideal for finance beginners, offering saving and safety tips – though it may not appeal to seasoned planners.
- The new edition adds Covid-19 lessons, guiding readers to manage finances and grow wealth. Among many good books, Let’s Talk Money
- This book aids in retirement planning, offering insights on the funds needed. A notable quote by the author of Let’s Talk Money reinforces this.
- Chapters 4 and 5, Building Your Protection and What if You Die, highlight the importance of health and life insurance, including key considerations when purchasing them. These insurances safeguard the money you have saved.
- Chapter 6, Finally We Are Investing, clarifies investment misconceptions, stressing that buying a house or car isn’t true investment. Bold, informed investments can build wealth or cause loss if mishandled. The book Rich Dad Poor Dad outlines smart investing steps, beginning with key prerequisites like health and life insurance.
- Chapter 7, Let’s De-Jargon Investing, details how to diversify investments for maximum returns and safety. It covers FDs, debt, and equity investments, outlining their pros and cons for effective diversification.
- Chapter 9, Mutual Fund, explores various aspects of mutual funds, providing a comprehensive understanding of their types and benefits.
- Chapter 11, My Retirement, thoroughly explains retirement planning, emphasizing a target of 18 to 35 times your annual spending by age 60.
- After creating your money box or portfolio, follow “fill it, shut it, forget it,” but ensure you audit it yearly, as product performance may vary.
- Chapter 13, Will It, emphasizes the importance of making a will, as nominations alone are insufficient. Chapter 14, What Kills a Money Box, explains how money is lost and advises avoiding such pitfalls.
Conclusion
Let’s Talk Money is a must-read for beginners or intermediate financial planners, especially Indians, but not for financial experts. It provides practical methods for saving and mindful investing to improve financial health. The book’s approach to managing three separate bank accounts for expenses, savings, and investments is impressive. Reading it early maximizes its benefits, making it ideal for all generations—whether in your 20s, 30s, 40s, or 50s. Better late than never! You could purchase this book on amazon.
Disclaimer: I express my own views in this article after reading the book, without intending to offend anyone. I do not sponsor or endorse anyone, and any resemblance to actual persons, living or dead, is purely coincidental. The mentioned link is an affiliate link, and purchasing the book through it is a great way to support me if you’d like to read along!
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