Money Purse: A Telugu Book on Financial Management by Vanga Rajendra Prasad
Money Purse is a popular Telugu book on financial management written by Vanga Rajendra Prasad, a chartered accountant and financial planner. The book aims to provide simple and practical tips on how to save, invest and grow money. The book covers topics such as budgeting, debt management, insurance, mutual funds, stocks, real estate, gold and retirement planning. The book also explains the concepts of inflation, compounding, diversification and risk-return trade-off.
The book has received positive reviews from readers who found it useful and easy to understand. The book has sold more than 1 lakh copies and has been translated into English, Hindi and Tamil. The book is available in both print and digital formats. The digital format can be downloaded for free from various websites such as Scribd[^3^] and YouTube[^1^]. The print format can be purchased from online platforms such as Amazon[^1^].
Money Purse is a must-read for anyone who wants to learn the basics of financial management and achieve financial freedom. The book is suitable for beginners as well as experienced investors. The book is written in a simple and engaging style that makes it easy to follow and implement. The book is also enriched with examples, stories and illustrations that make it more interesting and relatable.
The book is divided into two parts: Money Purse 1 and Money Purse 2. Money Purse 1 focuses on how to save money wisely and avoid unnecessary expenses. Money Purse 2 focuses on how to earn passive income and create multiple sources of income. The book also provides a step-by-step guide on how to create a financial plan and achieve financial goals.
Some of the key takeaways from the book are:
Money is not the ultimate goal, but a means to achieve happiness and freedom.
One should have a clear vision of what they want to achieve in life and how much money they need for that.
One should save at least 10% of their income every month and invest it in different asset classes according to their risk appetite and time horizon.
One should avoid debt as much as possible and pay off any existing debt as soon as possible.
One should have adequate insurance coverage for themselves and their family members.
One should diversify their income sources and create passive income streams that can generate income even when they are not working.
One should learn new skills and update their knowledge regularly to stay relevant and competitive in the market.
One should have a positive attitude towards money and wealth and avoid any negative beliefs or emotions that can hinder their financial success.
The book is a valuable resource for anyone who wants to improve their financial situation and achieve financial independence. The book is written in a simple and lucid language that can be easily understood by anyone. The book also provides practical examples, exercises and worksheets that can help the readers to apply the concepts and strategies in their own lives. 29c81ba772