Now you don’t have to dress up in corporate casual-wear and spend half the day screaming in a studio audience to get something free from Oprah, because for the next day she’s giving away digital versions of Suze Orman’s new book “Women & Money” on her website, from now until 8/7c February 14th. Downloads are available in English and Spanish versions, PDF only.
So what can you expect from the book? Here’s the meat of Publishers Weekly’s review on Amazon:
Though her explanation of the “8 qualities of a wealthy woman” (harmony, balance, courage, etc.) is more inspirational than practical, she also presents a concrete five-month “save yourself plan” for financial repair, starting with setting aside checking and savings accounts, fixing one’s credit rating, saving for retirement, setting up a will and purchasing home insurance. This encouraging guide will not intimidate women who are foundering financially.
(Thanks to Kristin!)
“Suicide, Lies, Debt: A Suburban Nightmare” [Oprah.com]
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@missdona: @ColoradoShark:
Anyone who creates a book titled “The Courage to Be Rich: Creating a Life of Material and Spiritual Abundance,” is not someone I want to read. I associate promoting “courage” with things like, “the courage to do the right thing.” Then there’s the mindset of someone who puts “material and spirtual abundance” in the same phrase.
Regardless, I’m not telling anyone NOT to read it. I’m simply stating how I view it.
@zouxou: Fair enough, just be aware that ‘sort of person’ can be construed in many different ways in this case (woman, lesbian, wealthy person, person who is employed by xxx company or person who wrote a hokey book about courage).
I have one of her earlier books, The Laws of Money, The Lessons of Life and it is what kept me from doing anything completely stupid with my finances. They’re not absolutely perfect, but I am now getting into a position to get out of debt.
As to “why focus on women?” I think she makes some valid points in the book on the emotional associations that women make with regards to money and finances. Her basic financial advise is not new, but she’s got great insights on how women specifically tend to view the whole issue of personal finance.
I’ve always known what the “right” thing is to do financially, but her books and show have really helped me personally overcome a lot of psychological obstacles with regard to money. I can really connect with her idea of “people, then money, then things” because it gets to the heart of so many of the reasons I made stupid decisions with money in the past. I was afraid to put my own financial interests ahead of all the things in my life I thought I needed.
I’m not saying that all women will have the same issues or the same perspective, but I’ve known enough who do to make me feel that this book is worthwhile for its audience.
Reading over it last night, I did find the info on IRAs vs RothIRAs useful, and the comparison of those to typical retirement accounts. The beginning chapter on asking for raises and earning to your full potential didn’t really apply to me, as I’m in academia and you’re pretty much on a set path once you accept your beginning salary, at least for a few years. She did acknowledge these types of jobs at some point in the chapter, so at least there is a realization that everyone doesn’t work in that kind of business world.
@missdona: Although I don’t necessarily have a concern with a spouse (husband or wife) setting aside money of their own, I do have a problem with the way she talked about splitting the total savings between the main account and the woman’s account. If everything were really being fair it would be 2/3 vs. 1/3 or have the funds split into fourths and then each person in the couple have their separate ‘whatever’ money. Otherwise it seems as if you’re putting just as much into your “just in case’ fund as you’re putting into your “marriage” fund. Maybe I’m biased because we have just joint accounts and I make most of the money right now while my husband is in school, but if he were saving $1 for himself for every $1 we saved for us, I’d be a bit bothered.