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Title: Women & Money: Owning the Power to Control Your Destiny
ISBN: 0385519311
Author:
Suze Orman
Publicate Date: 2007-02-27
Publish: 2007-02-27
List Price: $24.95
Average Customer Rating: 4.5
Format: Hardcover
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Amazon Lowest New Price: $13.47
Amazon Lowest Used Price: $13.23
Amazon Merchant Price: $16.47
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| Customer Review: |
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1: Easy and Clear!
The first couple chapters are kind of sappy and did not really apply to me, but her monthly plan is clear, easy to follow and necessary for EVERYONE! I am so glad that I picked up this book!
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2: Never taught how to Manage Money
Was Never taught how to manage money. Was able to connect immediately with what Suze was saying. The language she used is down to earth and it is simiple to understand what she is communicating.
Would definitely recommend it to anyone!
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3: Empowering and Informative
I am not a financial manager and by no means a perfect person when it comes to such topics as issues of finances and money. However, with the New Year rolling over, we all have our New Years resolutions. No doubt many of us have resolutions to save money; if not only to get out of debt, but to have some a little extra expending income be it for leisure activities or in the case something comes up, and we happen to need the monetary resources to feed it.
I bring up this issue not only because keeping a personal budget and saving money is a New Year's resolution of mine, but also I just finished reading Suze Orman's book Women & Money: Owning the Power to Control Your Destiny (Orman, 2007). Women & Money (Orman, 2007) is a very good book that I would recommend to all women who do not have experience in the area of personal finances. This book is very basic and simple and is not something for women that already have a lot of experience with personal finances.
For others that do not have experience they must realize the importance of educating themselves on the basics of personal finances. They need to be prepared to take control of their financial situation just in case an unexpected situation like death or divorce comes about. Women also need to take a more active role in their families personal finances simply because two minds working on something are always better than one. In this book Orman does a great job of explaining this and also giving women ways to become more involved.
In Orman's book, she begins by discussing the dysfunctional relationship women often have with money. She does a very good job of using a level yet authoritative tone in giving out practical and useful financial advice. Orman goes into great detail about why women often leave the handling of money to men and also why women should be more involved. Orman mentions that women are just as capable as men in handling money but that they often choose to leave the job to men.
In this book Orman gives out a few reasons why women often leave personal finances to men including that women feel that coveting money is wrong and also that women are more team-oriented. Orman says that women are usually scared to admit that they want a lot of money because they feel that it is wrong. Orman also says that often times women end up making less than men because they are more team oriented and concerned that everybody makes a good and even salary rather than fighting for every dollar they can get added to theirs.
According to both Orman as well as the Fannie Mae Foundation (http://www.docstoc.com/docs/3147576/manage-personal-finances), there are both psychological and mental aspects of personal finances. These are centered on attitudes and perceptions that women have towards money. Orman agrees. Indeed, the first half of her book is based solely on the psychological and mental aspects of personal finances. The second half of Women & Money (Orman, 2007) gets to the heart of personal finances. It is here that Orman gives readers a step by step plan for how to actually get their personal finances in order. This plan includes Orman's five step "Save Yourself Plan." This consists of five very simple steps that anyone can easily follow in order to take control of their personal finances. Orman also sets up a time schedule of five months to implement this plan with a goal of finishing one step each month.
I will now give a brief overview of each of the five steps, and then refer you to read Orman's book if you would like to become fully aware of the details of her plan. The first step is to establish a checking and savings account. In this step it is suggested that a bank account is set up so that you have complete access to it and it is suggested that it be a high yielding saving account and a standard checking account. Step two, according to Orman, is to check your credit score. Each woman is to find out what their score is and if needed, they should take the necessary steps to improve, or establish it. Orman also touches on the importance of paying down your debts here (Orman, 2007).
In the third step Orman talks about the importance of investing for retirement. Here she goes into great detail about how important it is to begin saving for retirement. This chapter includes information on 401K's, IRAs, and Roth IRAs. In the fourth step of Orman's plan she talks about all of the important must-have documents (Orman, 2007). Here she goes over wills, living trusts, and much more. The fifth and final step in Orman's plans talks about protecting your home and your family. In this last step she talks about the importance of renters or home owner's insurance, personal liability insurance, and life insurance (Orman, 2007).
Overall, I think that Orman's Women & Money book is a good read for any women that are looking for information about personal finances. This book could help many women to realize the importance of taking an active role in personal finances and help them to see why they should be involved in family money decisions. Of course, this book could be of much use to men, as well. But this book is specifically geared towards women. Women & Money (Orman, 2007) is a very good book that I would recommend to all women who do not have experience in the area of personal finances. This book is very basic and simple though and is not something for women that already have a lot of experience with personal finances.
For others that do not have experience, again, they must realize the importance of educating themselves on the basics of personal finances. They need to be prepared to take control of their financial situation just in case an unexpected situation like death or divorce comes about. Women also need to take a more active role in their families personal finances simply because two minds working on something is always better than one.
In short -- If you are looking for a simple way to learn about personal financing and need a little encouragement to get there (speaking to women here), this book is for you. I know she has a new book out as of 2009, but I have yet to read it. I'll let you know when I get there!
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4: I recommend SLAM! 68 Seconds to Wealth! (Get for FREE)
Suze is great! I loved loved loved loved SLAM! 68 Seconds to Wealth! This book is about creating abundance with the Laws of Attraction.
Download for free!
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5: Women and Money
Had already read this book, but got it for reference. So already knew what to expect.
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