Come on LADIES - You can do it - and THANK YOU SUZE: Women & Money
April 1, 2008
Suze Orman is right on track with this overdue, and badly needed book directly aimed at women who in Suze’s words are dysfunctional about MONEY. The same ladies that can earn doctorate degrees in esoteric subjects just shut their eyes when it comes to money. Although Suze takes shots at what the reasons might be behind this behavior, whether it’s upbringing, cultural, or anything else, it doesn’t really matter.
What matters to Suze is DEALING WITH THE PROBLEM, and does she deal with it. In this entertaining, easily read book, Suze will teach you to EXECUTE SOLUTIONS to your money problems. I have to tell you, after spending 35 years in the money business myself, this best-selling author is spot on accurate - it’s about EXECUTING. It’s no longer about thinking about your money issues; it’s about DOING SOMETHING ABOUT YOUR MONEY ISSUES.
The author explains precisely what it is you have to do, and she does it in a motivational way, without laying blame or shame on the reader. This is a crucial point. Women and men for that matter feel bad enough about the financial position they may have placed themselves in. It’s the old concept of should have, could have, would have coming home to haunt us. I should have done that. I could have done this. I would have done that.
Jettison the blame, and get out of that game. You need to get a grip on yourself and follow Suze’s moves. They are well thought out. Here are a few to take a look at.
1) You need an account of your own. Ladies whether you are married, divorced, single, or widowed, you need an account in your name, that you can call your very own.
2) To do this Suze has arranged with TD AMERITRADE, the online brokerage firm that if you fund an account with 12 monthly consecutive automatic electronic deposits of $50 or more, in the 13th month the brokerage firm will deposit $100 in your account as a gift, and an incentive to open the account. Although it’s not in the book, the reason why the firm would do this is because on average it cost the firm $200 in advertising to secure an account. It’s actually a good deal for them, and a better deal for you, because it will get you started. You save $600 over a year, and they add a $100. Ladies - GO FOR IT. Even if your husband is the President of the bank, get an account in your own name.
3) The heart piece of the book is a five-month plan that gets you back in control of your financial destiny. Yes, we both know the real question is what were you thinking when you allowed yourself to get out of control, but that really doesn’t matter. What matters is today FORWARD, not looking BACKWARD. In this five-month plan Suze gives you the KEY TASKS that you have to get done. It’s a number of things, and not fifty things. The key here, and it’s not quite hitting you in the face is to CLOSE ON SOMETHING. This is crucial. Don’t do eight things at once, and a little bit of each thing. You need desperately to bring things to closure. Get one thing FINISHED, COMPLETED, PUT TO BED, and then move on.
4) "Learn to say NO to people". Suze’s right on this one. You have to put YOU first. Think about it, for many of us, there are many others who are counting on us. Women especially since they are nurturing by instinct, tend to put themselves second to the people they take care of. Here’s what you have to get into your soul. Unless YOU ARE OKAY, you are not going to be here, to help everyone else be okay. Think of what they tell you to on the airplane in an emergency when the air masks drop down. You put the mask on your mouth first, and then you put a second one on the child’s mouth. You have to be okay for everyone else to be okay. It’s not selfish; it’s what you need to do.
5) Make sure you read the "You are not on sale" chapter. Many women tend to under price their services, and also allow themselves to be paid a lesser salary for equivalent work done by a male. You need to get out of this loop, and quick. Suze shows you how.
6) Suze’s advice on credit cards is completely accurate. If you are going to win in a system that is stacked against you, than you must learn the rules in order to know how to work the system. As an example once a credit card is open, never shut it down because creditors like to see long-term open lines of credit. This is the type of information, you will figure out on your own.
In conclusion, this is a FABULOUS book for you to get back on track, and in control of YOUR OWN LIFE FINANCIALLY. Women have just as much brainpower as men. It is inexcusable that many find themselves in the position they are currently in, but understandable too. After all what courses are given while growing up in managing money. They don’t give us a course in human relationships or marriage either; maybe that’s why the divorce rate is 50%. If we don’t learn what we need to learn in school or from our mentors, than we have to learn it on our own - Suze is a good place to start, and GOOD LUCK.
Richard Stoyeck
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Money maven Suze Orman’s latest book, Women & Money addresses the complicated (and often dysfunctional) relationship women have with personal finance. Orman’s direct, non-condescending style is perfect for this subject matter–she begins with the premise that "Women can invest, save, and handle debt as well and skillfully as any man" and then tackles the important question–"So why don’t they?" Designed to educate and inspire, Women & Money also offers a "Save Yourself Plan," a five-month program that "delivers genuine long-term financial security." Want to know more? Watch a video message from Suze below, and take a gander at the first chapter of Women & Money–you’ll be "controlling your destiny" in no time. –Daphne Durham
An Exclusive Video Message from Suze Orman
 Watch the video |
Read the First Chapter of Women & Money
For Women Only
I never thought I’d write a book about money just for women. I never thought it was necessary. So then why am I doing just that in my eighth book? And why now? Let me explain. All my previous books were written with the belief that gender is not a factor on any level in mastering the nuts and bolts of smart financial management. Women can invest, save, and handle debt just as well and skillfully as any man. I still believe that–why would anyone think differently? So imagine my surprise when I learned that some of the people closest to me in my life were in the dark about their own finances. Clueless. Or, in some cases, willfully resisting doing what they knew needed to be done. I’m talking about smart, competent, accomplished women who present a face to the world that is pure confidence and capability. Do you mean to tell me that I, Suze Orman, who make my living solving the financial problems of total strangers, couldn’t spot the trouble brewing so close to home? I don’t think I’m blind; I just think that these women became very, very good at hiding their troubles from me.Why not? They had years of practice hiding them from themselves.
From Publishers Weekly
Bestselling author (2005’s The Money Book for the Young, Fabulous & Broke, etc.) and host of her own CNBC show, Orman encourages women to "give to yourself as much as you give of yourself" in her ninth financial advice book, sure to resonate with legions of readers who will appreciate her straightforward advice and supportive tone. Aiming squarely for a female audience, Orman guides readers through the very basics of finances. She explores why women have dysfunctional relationships with money and notes the ways they undervalue themselves or "treat themselves as a commodity whose price is set by others," while also sharing the story of her own evolving relationship with her finances. 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. (Feb.)Correction: Due to the publisher’s error, we misidentified Sidney Wanzer in our review of his book, To Die Well (Reviews, Feb. 18). He the former head of the Harvard Law School Health Services.
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