Yok ‘s suggestion about what everyone should read

          Reading has been part of my life since I was young. I always spend more than one hour a day with it. Most of it is textbooks in class from school to university levels. Apart from academic books, I also read many books for pleasure, which are football magazines, travel guidebooks and chess guidebooks. Books everyone chooses to read can have various topics as their jobs and preferences are totally different from each other. I think that it is a good idea to share what you think could be useful for others. From the many books I have read, Money Lecture is the one I recommend everyone to read because I think it is popular, easy to understand, useful to know, and I also found many positive influences from reading it.

Money Lecture’s contents cover what we should do or should not do in investment for all six types of assets, principle of budget adjustment and also multiple ways to reduce your taxes. Its purpose is to let you learn effective financial management, in order to achieve your goals. The book was first published in August, 2020. It was written by Kittisak Konkla. I think that this book has been widely read. The reason is that I saw it on the best selling shelf when I bought it from the SE-ED book store. Moreover, the author is very famous as his facebook page, Longtunsart, has been followed by one million users. Apart from those, no one can reject that everyone might have an interest in educating themselves about the ways to keep and make their properties more profitable. This book is clearly understandable for everyone without financial backgrounds as its topic includes only crucial fundamental principles in finance, not the whole textbook used at finance classes in universities. The amount of income you earn is also not a factor to achieve this book’s goal. Employees who earn less than ten thousand baht a month can retire with financial fluidity if they follow the book’s instructions strictly. Though many might question why we would put some portion of our money at risk by spending it for investment with some assets, I think that it is essential to learn about this, based on the fact that interest offered from banks cannot outweigh the rate of inflation which changes everyday. Should we let the money which we work hard to get gradually lose its value?

I decided to read this book one year ago when I received my first salary because I wanted to understand how to manage it correctly. Consequently, I found many positive influences reading it. First, I understand how to make a good budget adjustment. I have learned how much of my income I can use for each specific purpose, which are saved in a bank account, investing for assets  and spending for necessities. By the end of 2020, I could save 30% of my revenue in my bank account and spent 40% of it on investment. If I had not read this book, 80% of my income would be wasted on buying things I love which may not be necessary. In addition to budget adjustment, a large amount of my tax bill was reduced as I learned which assets I can buy to reduce it. The common chosen assets are long term saving plans and health insurance, for which no one can not argue their benefits. I think this is very important ,especially for those who earn more than a million baht a year, because the tax rate can probably be as high as 20% of net income. From my tax bill in 2020, I saved about fifty thousand baht which was first expected to to be paid to the government. That money had been used for more beneficial things instead such as a ten year saving plan, life insurance and also donations for children in rural areas. 

From my various experiences of reading, I found that Money Lecture is the most useful book for everyone with various backgrounds. It doesn’t require any financial background or a large amount of income to use this book effectively. I found positive events such as an effective budget adjustment and also reducing the large amount of tax paid because of reading this book. I hope you can find yours too if you have a chance to read it in the future.