Customer Reviews

Maxing Out: Why Women Sabotage Their Financial Security

5 star:		(0)
4 star:		(3)
3 star:		(1)
2 star:		(3)
1 star:		(0)

 

 

Even though I'm a self-supporting, avowed feminist and non-traditional young woman, I still find myself dealing with the occasional "rescue fantasy". So I eagerly picked this book up, hoping for some insight into my own ambivalence about supporting myself as well as practical suggestions to avoid self-sabotage. However, the book left me disappointed. Dowling writes in an egocentric fashion, and most of the material is autobiographical rather than helpful or illuminating. A brief description of her difficulties with money and shopping would have been fine. Dowling goes on tangents--into unnecessary, droning detail about irrelevant aspects of her personal life--so often that, while I was able to identify with her a bit at first, by the end of the book I wished she'd just shut up about her dream analysis, IRS debt, and shopping sprees so she could address her readers more directly. I was left with very little useful advice and no sympathy for her. (Her idea of "cutting back" seems to be spending "only" $1300 at Crate & Barrel to furnish her apartment.) I also think that, while claiming to speak to women as an inclusive group, she focuses on stereotypical white upper-class female behaviors far too much (for example, she spends chapter after chapter delving into minute details about shopping sprees and lavish home remodeling and how "giddy" women get about compulsive spending on their homes.) Her insights might have been more palatable if she had broadened her focus to include women who are NOT compulsive shoppers but still have money issues. She does provide an insightful comment here and there, about the effects of societal conditioning or psychological resistance to change, but it's tough to ferret them out among all the useless personal anecdotes and the focus on the Debtor's Anonymous 12-step program. (I've never been fond of 12-step programs).

Recommendation: If you're patient enough to slug through a self-indulgent autobiography focused on Dowling's finances for the sake of a few gems of wisdom, read it. Otherwise, skip it and pick up "Money Freedom: Finding Your Inner Source of Wealth", by Patricia Remele, instead. Though it's not focused solely on women, it's far more readable, practical, and inspirational.

This book combines thoughtful insight into the emotional, behavorial and psychological reasons many women get into deep debt and fail to plan financially for retirement. There is no doubt that both men and women get into deep debt. Dowling suggests that women are more prone to lose control of their financial well-being because of gender scripting we get from a very early age. The challenge of the book is to see through this gender scripting, decide how it may be affecting your financial decisions and then take charge of your financial life. I loved it!

Although the book gives some telling insight into the behavior of SOME women, she extends her suppositions to include ALL women. Also, her conclusion that all of womens failures in finance are due to culture is very poorly supported - in fact, she never mentions that there is some good evidence that some basic tendencies of both men and women may be "hardwired".

Yes, there is a lot of personal information in the book and more repetition than necessary, but I also found lots to think about, and many good questions. Dowling doesn't present all the answers, but with this topic we need to find our own anyway. I think Dowling does a good job of presenting theory and research on why women have difficulty taking control of their finances. Everyone's story is different, but if you pay attention you will find research, stories and questions that should further your own exploration of issues you may have around money. I am very picky about what I read and I consider the time I spent reading this book time well spent.

I have the same problem with this book as with the author's "Cinderella Complex" -- while I'm sure that what she says about women's "fear of independence" is true of some women, it's by no means (as she claims) true of most or all.
I was raised in a traditional fifties home: Dad made the money and Mom managed it. Her philosophy -- a common one in that era -- was that it didn't matter how much money your husband made; a "good wife" would handle it prudently to cover all the family's needs. Unfortunately, my mother went far beyond this into the downright miserly -- she didn't trust anyone else with money and never let her children have any to "practice" with.
I've had problems managing money for my entire adult life -- I don't plan for emergencies and tend to live beyond my means. But, believe me, Prince Charming has absolutely nothing to do with it, and I think Dowling is incredibly arrogant to suggest that HER particular "Cinderella complex" is some sort of female universal.

Had opportunity to read this book. I saw both things helpful and also serious errors. The helpful part is towards the end of the book when Ms. Dowling tells of programs she's been in to control her spending habits. I believe this was debtors anonymous. I've seen how people can get into debt because of the combination of the seductiveness of places people shop and the strong desire to want something even though it can't be afforded. I would also criticize this book as Ms. Dowling refers to feminist bugaboos that have been debunked, particularly how females have been treated in classroom situations. This is a study by the American Association of University Women. Even this organization debunks these studies. Also, there is a tendency to blame things such as the "The Patriarchy" for women's problems. Again, this is victim-feminist propaganda. I would suggest in future writings to leave gender blaming alone. Stick to how to stay out of debt and if in it how to get out of it, even though it takes hard discipline.

I have given this book four stars because women need to be focused on their finances, in any way shape or form!