My mother sent me Suze Orman's 2009 Action Plan, possibly because she thinks that I don't know how to handle my finances, but more likely because she read it and found it useful herself. And, may I make it clear in the beginning -- my mother is not a reader. I can't remember the last time she mentioned having read a book.
209 pages may sound like a lot of financial reading, but it's really quick reading, and it gives a surprisingly clear (and quick) explanation of how the world got into this big financial mess. The rest of the book seems to be FAQs on how to manage money if you're in a specific financial situation.
If you're someone who needs a swift kick in the posterior to get your financial situation cleared up, this is the book for you. Suze Orman's advice is pretty basic, but it's what thousands of people need to hear: Pay your debt first. Save enough money to carry you for a few months (she recommends 8 months) in case of emergency. Then, start figuring out how to save money each month. If you haven't paid off your debt and you don't have money to protect yourself in a real emergency (which would mean you might go into debt as a result), then you should be saving as much as possible and working towards those goals.
If you can take that advice, then you should save yourself the $9.99 it costs to buy this book. Put it towards paying off your debt. If you need someone to say it more directly, then march yourself over to a library and find this book. Or buy it (it's on Amazon, used for $5), and then pass it on to your friends.
All in all, it's a quick, easy read, with a lot of information that we can all benefit from. Even if you're in good financial health, but aren't sure how to invest your money yet, it's a good place to start (and will give you all kinds of information so you can dish out advice to your less financially-savvy friends).
0 comments:
Post a Comment