Money Game: Play to Win,

¶ … Money Game: Play to Win, Put the Odds in Your Favor by Charles Green. Specifically it will contain a book report of the book. This e-book helps educate people about their finances and how they can be more financially secure. It is applicable to just about everyone, and it gives the reader some hope that they can be financially successful, no matter what type of situation they face. It is a handbook for financial success that is motivating, as well.

The author, Charles Green, is an expert in money management and personal finance, and he works from 33 years of experience in the field. He states his purpose in writing the book in the Preface. He says, "This book has something for everyone to improve their finances and achieve financial freedom, no matter where you are in life and what your current financial circumstances are" (Green 5). He then goes on to tell people to develop a "millionaire mindset" that includes putting your dollars to work for you. One of these major recommendations is to create a budget, no matter what stage of life or circumstances you are in. He states, "Got budget? Your journey to financial freedom starts with a simple budget. If you do not have a budget, then financial freedom just becomes an odyssey, rather than a destination" (Green 17). Budgeting shows you where your dollars are actually going, and how ineffectually you are probably managing them.

The book is full of good financial advice and suggestions for putting your money to work. The author writes, "Did you know that for every dollar spent today, there is an opportunity cost of $11 over your lifetime? Yes, you lose $10 for every $1 you spend when you consider the long-term opportunity cost: capital gains (assuming an 8% annual return) that you could have earned over your lifetime if you invested the $1" (Green 19). He wants people to pay themselves first, so they have a solid financial foundation, and to get out of debt to credit card companies as quickly as possible. He also notes there is a difference between "good" and "bad" debt. He writes, "Bad debt is like throwing money in the trash, and time works against you, but good debt makes more money for you, getting time on your side and increasing your wealth over time" (Green 70). He gives solid advice on how to change your financial future and how to save money, and he gives good advice on how to change your money mindset, too.

The central theme of the book is how to create a successful financial future, and how to get your finances in order. It does a very good job of giving the reader resources to use to get healthy financially, and the author gives a lot of information throughout the book. He keeps the theme in mind throughout the chapters, and does not deviate from the theme. He also has several underlying themes in the book, and one is the credit card companies, who he calls Precreditors, which is a mix of credit and predator. He writes, "The greed of banks and financial institutions provided bountiful credit for everyone, but in the aftermath of the Financial Crisis of 2008, they are now taking away the apple cart and making you pay dearly for the apples you already consumed" (Green 52). Throughout the book, he shows his contempt for credit card companies and most financial institutions, and gives reasons why you should get rid of your credit card debt as soon as possible. He also shows that saving even a dollar a day throughout your life can ultimately lead to financial freedom, and he uses that theme throughout the book, too.

The theme is consistent, even if he does repeat himself quite a bit, and his ideas are consistent, too. Another of his consistent pieces of advice that seems very sound is his advice to pay off your home in 15 years. That way, you save quite a bit of interest on the mortgage, and you free up your payment for savings and investment, which can lead to financial freedom in the end. This seems like extremely good advice for anyone thinking about buying a home, and he also tells homeowners how to turn their mortgage into a 15-year plan by paying more on the principle each month. That is good advice, too.

The major issue in the book is financial freedom, but the author writes the book partly in reaction to the recession that began in 2008, so it is a timely book, too. He refers to the fall of the stock market, loss of investments, and the other repercussions of the recession, and talks about attempts to control it through credit card legislation and bailouts. He writes, "The problem with the Financial Crisis of 2008 was not the collapse of the banking system, but the failure of individuals and government to save" (Green 57). Because the book is timely, it makes more sense to the reader and it addresses problems and concerns that just about everyone has today.

One of the nice things about this book is that while it is about finances and managing money, the author includes other ideas, too. For example, he writes, "[L]astly, take care of yourself and exercise daily to maintain good health, energy level and mental prowess. These intangibles are just as important as the tangibles things you can do to improve your financial health. More than 50% of all bankruptcies are due to health issues" (Green 33-34). It is interesting that he includes other information like this, which shows that he is interested in all types of health, not just financial health.

Some people might think the author just talks about finances, but he does not give any concrete ways for people to change their finances and become more secure. He gives a four-step process that can start things off. He writes, "The four life savings steps to stabilize finances that are in critical condition are: start the breathing; stop the bleeding; protect the wound; and treat for shock" (Green 78). Then he gives examples of how to do this so your credit rebounds and you can begin to save money.

There is one piece of advice that the author refers to several times in the book, and that is buying a house as your major form of investment. He writes, "Your house is your castle; it's financial security and a safety blanket for you and your family when you cannot be sure about anything else. Your house is your castle and will stand the test of time when other assets may not be there when you need it" (Green 46). That does not seem to be very good advice right now, because so many homes have devalued so much, and homeowners are "under water," which means their homes are worth far less today than they were when they bought them. He talks about the housing bubble in the book, so he is aware of the devaluation, but his advice seems like it is not so good.

Today might be a good time to buy a home when prices are low, but the people that already own have seen their values tumble, and this advice really does not address how they can gain from their investment. That is something that is lacking in this book and in the author's advice. He uses a time period from 1989 to 2009 to show how much homes have increased in value, but many homeowners today have not owned their homes since 1989, so this seems to be one place where the author's advice just does not add up.

In a surprising look at the housing market, he does advise people who are extremely upside down to walk away from their homes. He believes that it will take 10 years for home prices to return to 2005 levels, and that in 10 years, people can rebuild their credit and be in much better shape financially if they walk away. He also believes that people in very dire financial straits should declare bankruptcy, largely because of the same reasoning. He writes, "However, bankruptcy is not a death sentence, and it could get you back on track much sooner than the time it would take to pay off the debt" (Green 85). They can start to rebuild their credit immediately, and have a sizeable return in 10 years if they manage their money effectively. This might seem surprising, but he rationalizes his ideas by saying that holding on to your house or belongings to "save" your credit is not productive, and all you are doing is paying more money to your creditors, when you could be paying it to yourself. He writes, "Excuse me if I do not show much deference to creditors and the financial industry. Maybe it's time to put your interest first and follow their lead" (Green 83). Ultimately, his advice is about making money for yourself first, which can lead to financial freedom and greater rewards.

He also recommends investing in a Roth IRA, rather than a traditional 401K, because the Roth accounts are safer and usually pay back higher dividends. He says, "Generally 401k and 403b accounts underperform IRA accounts because they offer less options and flexibility for investments and impose higher fees" (Green 101). He talks about how the stock market is not such a good investment anymore since it fell in 2008, and he offers ways to make the stock market more effective. These are all good ways to get finances back on track once you have saved some money, and they make you feel more effective in managing your own financial future.

A big portion of the last part of the book is devoted to the stock market and how to make it work for you. This is probably the most confusing part of the book. It is written as simply as possible, but this is not a very simple topic, and so it is often confusing and difficult to read. The author has a good understanding of what he is trying to explain, that is clear, but it is a complex topic, and sometimes it just sounds like gibberish. For example, he writes, "Let's test the chin of the EC/SMC to see how it stands up under real market conditions in two different sectors: XLF, a financials ETF; and XLU, a utilities EFT, using $10,000 invested in each sector" (Green 125). He explains the terms and ideas, but still, this part of the book is challenging to read and understand, and it could be the biggest weakness of this book.

Another thing he notes in the book is that even though the economy is starting to improve a little, it could happen again. He writes, "Once the sugar high from government stimulus money has run its course, the economy will be in trouble without robust consumer spending, which is 70% of the economy, and the stock market may be in trouble again" (Green 160). That is really frightening for everyone, but especially for college students who are looking at trying to find a job in this market in a few months or years. So much has been said about recovery, it is difficult and scary to imagine that everything could fall apart again soon. It is clear the author knows what he is talking about, so I believe him, and that makes it even scarier to think about and consider. Hopefully, that will not happen, but knowing it could is unsettling at best.

The author's writing style is easy to read and understand, (except for the stock market section), and most of his ideas make good sense. It is well written and formatted, and does not seem as much of an e-book as many others I have seen. Sometimes they look cheesy and do not have much depth, but his is very professional and well done. He shows how just about anyone can gain financial freedom by using his methods, and that was his purpose in writing the book. He makes it sound easy enough that anyone can do it, and he gives hope to people who may be looking at a financial crisis right now. The book is easy to read, and he uses graphs, charts, and illustrations to break up the text and make it more readable. His advice is sound, and the way he presents it is attractive and compelling, which makes you want to read more. It is a good example of a self-published e-book, and I would recommend it to other readers, especially anyone who wants to improve their financial health and overall well-being.