BOOK REVIEW | Boss your money: A practical South African guide to wealth creation

Boss Your Money: Learn the Wealth Creation Formula positions itself as a no-fluff guide to building wealth in South Africa, and it largely delivers on that promise.

Written by chartered accountant and personal finance content creator Nokuhle Kumalo, the book is a practical roadmap for readers seeking financial freedom but tired of vague advice.

Speaking on 702’s Midday Report, Kumalo said she wrote the book because she was ‘personally tired of getting an answer that was really vague’ when asking how to become wealthy.

“I feel like the answers are always ‘it depends, it depends', but no one actually goes into the details,” she said.

A South African personal finance book that speaks plainly

One of the book’s strongest selling points is its local grounding.

Kumalo explains that many personal finance books are either written outside South Africa — requiring readers to ‘translate’ concepts into a local context — or written from a generational perspective that doesn’t always resonate with younger readers.

She says the intention was simple: “Grab it, read it and know what to do straight after.”

That practicality runs through core money decisions: how to buy your first car, how to negotiate a contract, how to approach insurance and how to think about wealth creation in a South African economy shaped by uncertainty.

Insurance, children and divorce — money conversations people avoid

A notable theme in Boss Your Money is confronting the financial realities people often avoid discussing.

Kumalo tackles insurance head-on, including the idea that some people may be overinsured.

She references a concept that stuck with her: “Ensure the things that could bankrupt you.”

The book also quantifies the costs of major life events — including having children and getting divorced — arguing that removing emotion from financial planning can lead to better decisions.

“We need to realise that these things cost money,” she says, adding that many people do not share the full financial realities of such experiences.

For readers interested in generational wealth and long-term planning, this approach aligns with a more disciplined, forward-looking mindset.

Diversifying income and managing side hustles

Against the backdrop of rising living costs and economic uncertainty, Kumalo draws a parallel between South Africa’s reliance on international trade and personal financial risk.

The message: diversify.

“Your salary is great, your job is great, but don’t let that be the only source of income that you have,” she says.

However, the book also cautions against blindly chasing multiple income streams.

Kumalo warns of ‘multiple streams of stress’, arguing that constantly exchanging time for money has limits because ‘time is finite’.

Instead, she encourages readers to think about investing and making money work for them — a central pillar of the wealth creation formula outlined in Boss Your Money.

Normalising money conversations

Another strong thread in the book is the push to normalise conversations about money.

Kumalo challenges the culture of secrecy around earnings and financial decisions, arguing that within trusted circles, open conversations can prevent costly mistakes.

“A lot of people are actually getting less than what they deserve just because they don’t know what they should be asking,” she says.

From discussing salaries to talking about prenuptial contracts, she argues that financial transparency, in the right spaces, can empower better decision-making.

First steps to boss your money

For readers searching ‘how to start managing my money’ or ‘how to build wealth in South Africa’, Kumalo’s starting point is basic but powerful.

“Sit down and ask yourself, ‘How much money do I make and how much am I spending every single month? Does it make sense?’”

She advises understanding income flows and timing, noting that some people are not truly broke but struggling with cash flow mismatches.

Importantly, she rejects extreme austerity.

“Coffee is not going to buy a car,” she says, pushing back against the idea that cutting every small pleasure is the path to wealth.

Verdict: A practical personal finance book for South Africans

Boss Your Money stands out for its clarity and directness.

It targets readers who want practical personal finance advice rooted in South African realities, from salary negotiations to side hustles, from insurance to generational wealth.

For those searching for a South African wealth creation guide that avoids nostalgia and theory-heavy lectures, Boss Your Money offers a structured, accessible entry point into mastering your finances.

For more information, listen to Kumalo using the audio player below: