Moolala Book Review and Giveaway
Random House Publishing contacted me to review a new personal finance best seller, Moolala (link), which was written by Bruce Sellery. The title sounded unique and interesting, so I gratefully accepted the book for review with a few copies for giveaway.
Before I even had to chance to read it, I was seeing the book on the best sellers table at Chapters and at the exclusive best sellers table at Walmart, which then really peaked my interest.
I must admit that the book was a pleasant surprise. As I’ve read quite a few money books in my day, I was expecting a typical personal finance book with the common money mantras. However, Moolala had a little something extra that kept me interested. Where most financial books talk only about the “how”, this book digs a little deeper and adds the “why” to help develop, achieve, and put life goals into context.
About the Author
You may have heard the name Bruce Sellery before as he is one of the founders of Business News Network (BNN). Here’s what the book says about him:
Bruce Sellery is a business journalist and professional speaker. As one of the founding members of BNN, he has anchored thousands of hours of programing from Toronto to New York.
More recently, Bruce founded Moolala, a personal finance training company focused on inspiring people to get a handle on their money so that they can live the life that they want.
About the Book
The book is broken out into steps to help the reader achieve their financial goals and hopefully what they want out of life. As previously mentioned, I enjoyed the “why” sections of the book (steps one and two) which makes up almost half of the book. These steps include:
- Step ONE: Lay the Foundation – This step puts into context why smart people do dumb things with their money. Determines what your money is for. The reasons why you need to get handle on your money. Determining the right level of complexity for you and your money.
- Step TWO: Determine What You Want – Coming up with your financial goals – what do you want for your life?
- Step THREE: Develop the Plan – What is your starting point? What’s holding you back from achieving your goals? What are the top three things that you need to do? Assess and improve your cash flow, working with a financial advisor or do it yourself to come up with an investment plan.
- Step FOUR: Take Action – Just do it, how can you make sure you act on your plan?
- Step FIVE: Stay Engaged – Make it a long term engagement.
I recommend this book for just about anyone looking for more than just “do this to be financially secure”. I’m sure that I’ll be reading this book over again in the coming years.
Want a Free Copy?
The publisher is offering Million Dollar Journey readers the chance to win a free copy of the book (3 copies available). The details are below:
- New and Existing Money Tips Newsletter Subscribers will be drawn at random for a free book (you can subscribe here). (+1 entry)
- Tell me one of your financial goals for 2011 by clicking here. (+1 entry)
- Only one comment entry per person (valid email addresses only please – privacy policy).
- Contest will end Sat 5pm EST April 2, 2011 and the winner, drawn randomly, will be contacted shortly after!
Looks like an interesting read. My goal is pay off my LOC in 2011!
My goals are normally things like pay down the mortgage, invest more etc, but this Christmas we are going to NZ and Australia for 6 weeks. So my goal is simply to save enough for the trip.
Cheers,
Jason
This book is on my list to read. My goal for 2011 is to pay down mortgage debt, and max out my TFSA.
My goal is to pay down my mortgage x%
My goals are to learn more about investing and dip my foot in the water to achieve a higher rate of return then last year
In 2011. my goal is to fix my asset allocation.
Goal: To get my rsp’s upto 25k so i have the max first time home buyers plan.
My goal this year is to add at least an extra 50% to my mortgage payment every month — doubling it would be a super victory!
Sound slike an interesting read. My goal for 2011 is to save enough for a 25% cashdown on a condo I’m planning to buy.
My goal for 2011 is start saving and investing into other things other than my chequing and savings account at my bank
My current financial goal is an 8 month emergency fund.
To pay my mortgage by 10%
To contribute to my TFSA so that I can use up the room available there.
goal for 2011 is to pay down mortgage by 20%.
Pay off my LOC and start building an emergency fund instead of relying on the LOC.
Pay off my Mastercard by July
Goal for 2011 is to get the mortgage under $100K.
My goal for 2011 is to build up my savings to always have $1000 untouched, and then to add on to that.
My 2011 Goal is to pay down the mortgage by 25%. Sounds like a refreshing take on existing finance literature.
goal for 2011 is to pay down my mortgage by 10%, and max out my daughters’ RESP’s.
One goal in 2011 is to build and apartment above a work shop on the same property as my duplex maximizing that property.
My goal for 2011 is to finally write my goals to be able to follow them.
1. look at savings with current budget
2. start up TFSA and contribute
3. Find financial advisor for upcoming business opportunities
well just wrote them. now to get them done. tks. MDJ
2011 goals: Focus on Canadian large caps that have dividend yield of 3.5% or more AND whose dividend payout approximates 50% of their earnings . Examples of companies I will be looking at : BCE, ScotiaBank .
my goal is to have a break even budget
my goal is to set up a financial plan. This book couldn’t be more fitting. I hope I win it.
2011 Goal – pay off mortgage…i’m almost there!
My financial goal for 2011 is to make enough money between a part-time job and my photography business to spend Jamuary and February 2012 in Florida.This white stuff is getting to me.
My goals for 2011 are to focus on starting a small business on the side or actively start. Get more financially sound by increasing different revenue streams.
I would love to win one of the Moolala books. I could use the help.
V.
One of my goals for 2011 is to rebuild my emergency fund which was decimated due to illness last year (but I was really glad it was there when I was without a paycheck for several months!)
My 2011 goal is to pay down my mortgage by 10% and max my RRSP’s
2011 goal: to live solely off of my investments
Build our downpayment savings.
My family’s goal is to continue to pay down our mortgage before our 4 kids head to college (they are 5 years old and under right now) AND still be able to enjoy the things we enjoy like travel, skiing and outdoor activities.
To get my line of credit paid off
I would like to pay down my debts by Dec. 31, 2011
I am currently on maternity leave, baby is 8 months old. I was laid off from my job 35 weeks pregant. My financial goal for 2011 is to step out into entrpreneurship living my passion and replace my corporate income.
I retired and I don’t have as much money as I thought I would. I.d like to find a solution to this problem before it escalates in my more senior years.
My goal is to double my stock trading acount in 2011.
learn more about preferred shares
Complete our downpayment savings plus keep learning about money and investment
I would love to contribute more to my RRSP. Darn student loans…..
Keep a close eye on returns on my ETFs, RRSP and TFSA as approaching the Retired age group.
My goal for 2011, as a 29 yr-old single mom (recently separated), is to develop a financial plan for myself, including RRSPs, RESPs for my son, see how much I can contribute to my mortgage and start investing, while also saving for a vacation! Thx for your work with the site! Very helpful!
Pay off my line of credit
Pay for my university
Goal is to spend less money.
Complete year 3 of my 5 year financial plan… going well so far!
One of my 2011 goals is to pay off my credit card debts completely.
Take more control of my retirement savings/investments.
My goals are to max out both my RRSP and TFSA from the money that I get back after filing taxes.
Cut down on subscriptions. We cut back two magazines, our lotto subscription, one gym membership, and dropped personal training down from weekly to monthly.
My goal for 2011 is to buy my first home.
To maximize TFSA contributions for both my wife and myself.
Increase my dividend income and stay debt free
One of my 2011 financial goals is to spend money more mindfully – buy only what we need and think twice before spending money on “wants”.
My goal for 2011 is to top up my RRSP contribution room.
Max out our TFSAs. Half way there already.
2011 goals are to have our july wedding paid off and to get our mortgage down to 80% of home value so we can start leveraging more
Complete my University Degree this year debt free!
My goal for 2011 is to pay off the family credit card.
My goal is to catch up on my RRSP investment, I’m 10 years behind and have 12 years to go before I get to 65. I don’t particularly want to work past that.
Thx
Sounds like a good read.
2011 goal is to save enough for the bathroom reno, three trips to see my parents and for Christmas, all while on reduced income (maternity leave)
my goal is to pay off the car
my goal for 2011 is to build enough cash down to move someplace my children can each have their own room.
One of my 2011 goal is to be more focus in terms of financial investment.
Hello, I have so many goals but the only one that stays on my mind most frequently is paying off my student loan. I dont forsee paying it off in 2011, but at least I can pay it down as much as possible.
One of my goals for 2011 is to make 40,000 with a part-time business.
My goal is to finally accept that I have enough money to retire and just bite the bullet and walk away!
This book sounds like a good addition to my business and finance library. My goal is to begin a business and get income coming in within the next 3 months.
My goal is to open a self-directed TFSA and actually buy my first stock(s) in it. I currently only own bank-managed mutual funds.
I have created a budget, so my goal is to adhere to it.
My goals are:
1) To max out my TFSA
2) To max out my RRSP contributions
3) To increase my nw by 50% (i’m considering removing this one since i have less and less control over my NW as my portfolio becomes much larger than my savings, and to just have a savings goal)
2011 Financial Goals-
+Pay Off Consumer Debt
+Tighten Budget in fears of upcoming layoffs
+Consolidate Student Loans
+Get PMI removed from primary residence
+Appeal Primary Residence Property Taxes
+Refi Loans on Rental House
+Build Emergency Fund
+Buy 2+ rent houses
Max out the ol’ RRSPs.
My goal is to start a new company so that I can up my earnings (way up)!
My goal is to stabilize my spending to get my budget inline, so my dept pay-down scheme is more consistent,
my goal for this year is to continue the momentum of paying off student loans, despite the “temptations” to spend otherwise.
My goal for the year is to learn how to invest in the stock market!
My goal, is to save more for a down payment
My key financial goal for 2011 is to bring in more income. I became self-employed last year and we are suffering. I’m not bringing in enough income to keep up with our expenses and hence, our debt is increasing… not good.
Being retired since 1992 (on fixed income) the goal every year is to stay ahead of the tax man!
One of our goals is to pay off the Car loan at least 15 months early.
Sounds like a great read, a goal for 2011 is to rebalance my & my husband’s retirement savings portfolio.
My goal is to make weekly payments on my line of credit and have it completely paid off by October 1, 2011.
I actually have a name for this year financial goal. I am calling it a BS year. No, it is a different kind of BS, meaning big savings. We decided that we are not making any discretionary purchases this year, in order to pay down as much of our the debt as possible. The idea is twofold:
1. to reduce the amount of interest that we pay, of course,and
2. to be able to max out our next year RRSP, which I have not been able to do for many years now.
Additionally, I would love to finish the house renovations that I started a couple of years ago.
Improve cash flow, reduce the principal mortgage!
My goal for 2011 is to increase my net worth by 4% using dividend stocks.
Strange title but I’d like to read it.
My goal is to find some gainful employment to stop the bleeding of
our savings.
My goal is to max out my rrsp and tfsa’s for 2011
My goal for this year is to buy some DRIP dividends.
My major goal is to save enough for a backpacking trip to South America this winter. One of my sub-goals is to reduce spending on non-essential items like books- a free one would be awesome!
I have many goals for this year, many of them continuations from last year and will continue on in the forseeable future… But the big thing on my mind right now is to pay off that darned car loan! Once that’s gone I’ll have over a grand to put into savings and ease up on the budget a little :)
This year I am making sacrifices to get debt free, besides the mortgage, & get the family into a new house.
Also to top up the kids education fund.
Lastly to put the emergency cash fund in place.
S.
My goal for this year is to get back to a structured retirement savings plan. After a job change that included a cut in salary I have fallen off track with my savings.
My goal is to have 10 Drips going! Just need to acquire a few more.
Rebalance dividend portfolio.
My goal is to keep away from the temptation to pay for anything on credit – save save save and pay cash (even the new car that will be required in near future).
Goal is to switch over to ETFs from mutual funds…
Hi Million Dollar Journey! My goal for 2011 was to pay off my line of credit, which I’ve already done :)
My goal is to make it through the extra year my wife has taken off work to stay home with the children without taking on any debt.
Retire in 15 years.
My goal is to pay down debts and max RRSPs
My goal this year is to pay down all debts, except the mortgage and try to save more via RRSP and TFSA. I already started pre-authorized deposits every 2 weeks to those accounts and will try to chip in some lump sump payments when appropriate.
Spend less than what we earn and have more savings than what we owe…a simple recipe for financial success.
Cheers!
My goal is to drop 20k on my mortgage and buy a camper.
My goal is to pay off our LOC.
My goal is to pay of the line of credit (a few thousand dollars) and get a good start on my emergency fund
My goal is bring up my portfolio value to what it was in June 2008, and punish the crooked Ottawa brooker that took advantage of us.
My financial goal for 2011 is to save up tons of money this summer and keep my credit card balance always paid off!!
get control of my finances and learn more about good investing
My husband lost his job last September and has only been able to find a 3 month contract since. Our financial goal is to find him a good full-time, permanent IT position.
Establish a series of passive income streams to finance retirement
My goal is to re-engage my interest in finance. The last few years have found me with waning interest in anything finance related.
Find some dividend payers for my TFSA.
Pay off our RSP loan in the next month and then start hammering the mortgage again!
My goals for 2011 are to replace my 3 month safety fund asap. I had to use it this year to cover some vacant properties and was glad it was there. From that point forward its all saving and investing.
Make a few extra payments on my mortgage and put some money in my TFSA
I aim to have 3 years left on mortgage by the end of 2011.
I am looking forward to buying my first home this year. I have been dreaming about from 1st year university. Saved & maxed my rrsp for the HBP. Iam keeping my fingers crossed!
I’m just getting my feet wet with this personal finance/investing/money management stuff so i need all the help i can get.
Our largest financial goal for the year is to pay off an additional $20,000 on the mortgage. At that rate we’ll be clear in 6 years.
My goal gain more control over my investments rather than going with everything my advisor says.
My goal for this year would be to have my wife and I on the same page in terms of our current financial standing and where we want to be long term.
My goal is to READ and UNDERSTAND my Portfolio Summary statements that my advisor sends me quarterly. This includes knowing the MERs and fees that I am being charged.
My 2011 goal is to eliminate a debt on a credit card before interest begins to accrue.
My goal for 2011 is to invest at least 10K$ in my RRSP, and 10K$ in our TFSA.
Pay off my mortgage ($10,000 left, so should be possible) and start seriously saving for retirement.
My 2011 goal is to max out TFSA while contributing to my RSP… will be tough but it is feasable!
2011 Goals: Make $2500 RESP contribution to max gov’t “match” and finish paying off my student loan!
So many goals, so little money! Realistic achieveable financial goals for 2011: 1. finally pay off the Line of Credit, and
2. then take that payment money and divide it between increasing my TFSA payments and establishing a car account
For 2011: fill up the TFSA room, and simplify finances by consolidating/closing a couple of accounts.
$5000 Emergency fund and max out RRSPs.
Well, we decimated our savings in 2010 when we bought a house and then gutted and reno’ed the kitchen and half the first floor, so in 2011, I want to build up our safety net again.
My goal for this year is to pay down some debt which will free up some cash for 2012!!!
One of my goals this year is to save $25 cash.
pay down our home equity line of credit
My 2011 goals are to get healthy, pass some courses and get a better job.
Continue to pay double mortgage payments, and throw any extra money into the stock market…I think uranium stocks look good
my financial goals in 2011 are:
<3 months: buy (take over) the land for cattle fish, with a capital of a bank loan for about 5 years when there is surplus capital I'll buy a car and car certificates will I make the lever to get a larger capital as a down payment to buy a house small-scale playground stores and home stores such certificate shall I mortgage to pay it off with credit for 10 years.
so I'm not too burdened by my debt, because will be paid by my cattle fish and my shop.
I hope you all will pray for me to be successful, so I MUST be praying for you all.
Thank you
My goal this year is to pay off our mortgage.
Pay down mortgage.
Pay off line of credit.
Sounds like a good book.
One goal for 2011 is to significantly reduce my wife’s student loan. As I’m currently in school, we’re able to make payments directly against her principal. Hopefully reduce it by 30% or more by the end of the year.
My plan is to payoff my HELOC.
My goal is simple: pay off $39,000 of my mortgage this year. Hard? Yes, but it will take me a lot closer to being debt free like you FT.
My financial goal is to max out my RRSP this year in order to stay the course toward financial independence and early retirement!
My financial goal get a better jpaying job $12 is hard to raisie a familly on.
And to start a rrsp.
My goal is to reduce my mortgage by 10% this year.
My goal is to dump all my mutual fund holdings and replace them with low cost ETFs.
One of my financial goals for 2011 is to put away as much as possible this year so my hubby and I can retire a bit earlier.
My goal is to become consumer-debt free by the end of May 2011 and once that is done, put those dollars into my TFSA.
I’ve got extra cash coming to me, so I’m working on blasting away at our mortgage principal, within the limits of the prepayment rules.
Wow. These goals are INCREDIBLY inspiring. I wish we had 150 books to give away to each and every one of you. Oh well. Thanks for participating, and three cheers for Million Dollar Journey – truly one of the BEST personal finance blogs out there.
Bruce Sellery
Author, Moolala.
Thanks for the kind words and for stopping by Bruce!