moolalaRandom 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:

  1. 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.
  2. Step TWO: Determine What You Want – Coming up with your financial goals – what do you want for your life?
  3. 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.
  4. Step FOUR: Take Action – Just do it, how can you make sure you act on your plan?
  5. 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:

  1. New and Existing Money Tips Newsletter Subscribers will be drawn at random for a free book (you can subscribe here). (+1 entry)
  2. 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!
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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.