As a bookworm and a personal finance nerd, I affection reading a good book about money. That’s why I was so excited when The Penny Hoarder propelled a virtual journal association in January to read and discuss personal finance books.
Our first diary golf-club pick was “Napkin Finance: Build Your Wealth in 30 Seconds or Less” by Tina Hay.
This book employments visual infographics to break down a wide range of subject matter, including budgeting, debt, retirement, investing, entrepreneurship and cryptocurrency. Hay refers to “Napkin Finance” as a “visual guide to money and finance.”
Here are a few of my major takeaways from predict the book.
4 Things I Learned From’ Napkin Finance’
“Napkin Finance” digest apart from other personal finance records I’ve read because of the path the material was boxed. In addition to learning more about topics like retirement and taxes, here are four things that resonated with me.
1. Visuals Aid In Comprehension
As I has already mentioned, “Napkin Finance” is full of colorful infographics, which are drawn up as though they were doodled on the back of a nappy( hence the mention ).
Hay came up with the concept while attending Harvard Business School. She would sketch out different monetary hypothesis to better understand them.
“Visual learning is a classic notion, ” she said. “Mozart, DaVinci[ and] Freud all employed visual images and graphics to solve their biggest problems.”
Hay worked with a unit of designers to create unique Napkin infographics for every chapter. She said the use of visuals assistances see fiscal topics less intimidating and leads to higher grasp and better retention of the subject matter.
If your eyes glaze over reading dense blocks of textbook about the stock market or macroeconomics, you might find the pictures and charts in “Napkin Finance” more enjoyable.
2. Repetition Helps Retain Information
One thing I abruptly picked up on when reading “Napkin Finance” is the use of repetition.
Each chapter is broken into multiple regions, and all sections causes with a Napkin infographic explain a different business perception. After the Napkin, there’s additional verse expanding on the topic. At the end of each section are key takeaways — the main thing you should know. Then, each chapter concludes with a quiz to experiment your knowledge.
Reading — or viewing — something once isn’t ever fairly for it to stick in your pate. When that fabric is presented over and over again, nonetheless, there’s a better hazard you’ll retain the information.
3. It’s Okay to Be Lighthearted About Money
Too often, financial information is presented in a way that feels stuffy and enduring. “Napkin Finance” differs from that by incorporating feeling and lightheartedness into the material.
“We actually have comedians that write for us and help us come up with these one-liners … various kinds of like enjoyable sayings, ” Hay said. “They only lent some humor and lightness to a topic.”
The section on indebtednes ends with the one-liner: “Not all debt is bad. Some is just misunderstood.”
The chapter on retirement includes this quote from scribe Jonathan Clements: “Retirement is like a long vacation in Las Vegas. The objective is to enjoy it to the fullest but not so amply that you run out of money.”
4. Learning a Little About a Lot Highlights Your Knowledge Gaps
“Napkin Finance” isn’t a volume that hones in on one given topic, like getting out of debt or paying for college. It envelops those subjects but likewise touches on how to start a business, how to file taxes if you’re a gig work, the difference between mutual funds and exchange-traded stores and so much more.
There are 12 assemblies, and each is further broken up into four or more divisions. You’ll get an introduction to a lot of different core concepts, but those introductions are pretty brief.
The benefit of knowing a little bit about a lot of things is that you’ll discover where you want to take a deeper dive. For precedent, learning “Napkin Finance” facilitated me recognise I “ve got to” do more investigate when it comes to cryptocurrency. Had the book remained to topics I’m already well known to — like budgeting and saving fund — I may not have come to that understanding.
FROM THE BOOK CLUB FORUM
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Why I Recommend Reading’ Napkin Finance’
If you’re a visual learner or someone looking for a fun approach to learning about fund, “Napkin Finance” is a work you are able to check out.
It doesn’t go business literacy too seriously but after construe the book, you’re likely to have learned a few new money ideas and come away with some topics you want to explore further.
“Napkin Finance” is an easy speak. It’s a good coffee table notebook that you can pick up and fling to different sections. You don’t have to start from the very beginning and read it in section prescribe. The bible is a continuation of NapkinFinance.com, which includes even more infographics simplifying numerous business topics.
If you’ve read “Napkin Finance, ” please chime in your thoughts in The Penny Hoarder Community’s volume club gathering. We’d love to hear from you.
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Nicole Dow is a major writer at The Penny Hoarder.
This was originally published on The Penny Hoarder, which assists millions of readers worldwide earn and save money by sharing unique job opportunities, personal tales, freebies and more. The Inc. 5000 graded The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
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