Wednesday, February 27, 2013

Lemonade Stand Economics by Geof White

As a university student, I'm naturally interested in books that concern my finances. I'm really lucky to be on a full scholarship, so I don't have to worry about debt that much. But I know it's a concern for a lot of people (I know I was looking pretty intently at a bunch of scholarships).

Lemonade Stand Economics plans to help you by giving you the skills/map to earn the money you need for college. And looking at tuition fees, that's quite a big goal.

Note: This book is written specifically for American students going to college in America, but you can probably take this and apply it anywhere.

The basic premise of Lemonade stand Economics is that by selling a service, you can make a lot more money than doing grunt work. The book then teaches you how to advertise yourself, how you should train, how to treat your clients (with respect folks, with respect), and what to do with the money (put it in the bank right now, and don't you dare think of splurging every single day).

I must say, the author does a really good job of convincing the reader of the problems associated with a student loan. And also how just buying a drink everyday (when you can bring a bottle, or buy it cheaper in bulk), can really eat up into your cashflow.

What I like was that the author drew on his personal experience a lot. He mentions where he went right (in how he earned money), where he went wrong (not continuing that in college and taking a loan, and also spending the money when he could have saved it), which helps you visualise the concepts in this book more accurately.

If this book affects even just ten percent of university students around the world, we're going to see a lot more smart, business-savy and respectful people around.

I highly recommend this book for university students, students a few years away from university, and their parents.

Disclaimer: I got a free copy of this book from NetGalley in exchange for a free and honest review.

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