Compound interest, balloon payments, asset classes…
Many people want to get their money working for them but feel intimidated by all things “financial”. The language advisors and the media uses is a real barrier.
We speak to Sandile Soga, author of Money Talks: Banking, Insurance and Investment Terms Defined, about his book that aims to demystify the money terms that scare us out of living the life we want.
“In the book I define the terms in a most-simplistic way so that anyone can understand it,” says Soga. “I also use real-world examples to clarify even further. For example, when explaining ‘unsecured lending’ I’ll use the recent example of African Bank.”
The Financial Services Board checked Money Talks for accuracy and made recommendations that Soga has incorporated.
Sogo created an investment club to go along with the book. “The investment club is meant to be an extension of the book,” says Soga. “We also have financial advisors on board.”
Money Talks: Banking, Insurance and Investment Terms Defined
A financial dictionary that defines banking, insurance and investment terms in simple language.
Includes scenarios to illustrate how a particular term would work in practice. Examples that the end user can relate to are also included to further enhance better understanding.
The purpose of the book is to help ordinary people understand financial terminology.
You can use this book to make better informed financial decisions and to avoid mistakes due to a lack of understanding of a term.
The book empowers the user so she or he can debate with their financial adviser to ensure the most appropriate financial product offering. (Don't get tricked!)
- The book costs R180 (available online at http://moneytalksclub.co.za/)
Listen to the audio for more detail.
This article first appeared on 702 : New book teaches the uninformed and intimidated about money (and how to grow it)