Customer Reviews

On My Own Two Feet: A Modern Girl's Guide to Personal Finance

5 star:		(60)
4 star:		(9)
3 star:		(2)
2 star:		(2)
1 star:		(2)

 

 

As a financial professional, I have generally been critical of personal finance authors because they struggle to condense their vast knowledge into a book that is readable for the average person. Thakor and Kedar succeed where others have failed. In this book, they manage to cover all of the basic principles of personal finance (savings, credit, insurance, budgeting, investing, retirement, major purchases, taxes and money in relationships) in less than 200 pages. The book flows more like a conversation with a friend than a textbook, which made it an enjoyable and quick read. Also, I was very impressed with the quality of the advice given in this book. The authors stick to tried-and-true principles that are both effective and simple.

I highly recommend this book.

On My Own Two Feet is simply the best personal finance book! I have tried to read a finance book cover to cover and could not get through one until this incredible book. The information is clearly presented, and what sets it apart, is the advice of Kedar and Thakor is highly actionable. Since reading the book I have made several changes and already feel better about my financial "health."

I was lucky enough to meet the authors of this book, Manisha Thakor and Sharon Kedar at a recent retreat at the Woodhull Institute for Ethical Leadership. I was struck by three things: 1) their passion to educate young women about personal finances, 2) their snazzy dress sense, and 3) the fact that THESE WOMEN KNOW THEIR STUFF! Both are amazingly successful in the male-dominated world world of finance, and gave me the instant feeling that I could navigate it too, all I needed was some simple basics. Manisha and Sharon are able to look at money from the perspective of MY generation, the 18-35 year-olds who don't stay in one job forever, and will enter the work force with student loans, MySpace accounts, and only a brief window to start retirement planning. "On My Own Two Feet" handles the current reality of money and finance with pizzazz and spice, and a feeling of support from the "Divas of Finance". If you want to feel more financially secure, and do it soon, pick up this book now! Then send it to your girlfriends, cousins, sisters, mothers...and maybe even a man or two. After all, everyone needs some money help, sometimes!

Prince Charming is not a financial plan. That's the sentiment echoed by this author who wants women to stop looking for a man to rid them of their financial woes and instead, take charge of their own financial future. Understanding that financial matters can be intimidating to people, but especially women, she quickly gets to the point without bogging the reader down with boring or too complex details.

Below are the different subjects discussed in this book and the kinds of issues discussed with each:

SAVINGS
-- Why you should save
-- How much should you save
-- Where you should store your savings

CREDIT CARDS
-- What the true cost of credit card debt is
-- Why it's harmful to only making the minimum monthly payment
-- What the common credit card pitfalls are (like having too many cards or thinking your interest rate is set in stone, etc...)
-- Understanding your credit score
-- How your credit score influences your life
-- How to find your credit score
-- What your score is based on and how you can improve it

INSURANCE
-- The 3 critical types of insurance you need
-- Suggestions for purchasing insurance
-- Where to buy insurance

BUDGETING
-- How to make a budget (there's a great pie chart that shows exactly how to divide up your expenses)
-- What type of expenses you should expect

INVESTING
-- Why you should invest your money
-- How to invest your savings
-- What your investing options are
-- Suggestions on the smartest types of investment you should make
-- Q & A portion (like, "Is it wise to invest in real estate?")

RETIREMENT
-- What type of retirement is out there (employer sponsored and individual)

HOME
-- Should you rent or buy?
-- Making sure you don't buy a home you can't afford
-- Buying a home the smart way

CAR
-- Making sure you don't buy a car you can't afford
-- Should you buy new or used? Lease or buy?

INCOME TAXES
-- What types of taxes you owe on your income
-- When you pay your taxes
-- How to file your taxes
-- The types of documents you'll need when you visit your tax preparer

LOVE AND MONEY
-- Why financial compatibility is so important
-- What kind of money talk couples should have with each other
-- Deciding whether to have a joint or separate bank account
-- Deciding who will handle which financial chores
-- How often couples should do a financial check-up
-- How to protect your finances (especially for stay-at-home moms)
-- Handling sticky subjects like pre-nups
-- Why it's unwise to assume your Prince Charming knows more about money than you

Some women might be embarrassed not being as knowledgable about these subjects as they'd like, but in the last chapter, the author offer 4 empowering insights about money to make them feel better:
(1) Most people don't have a clue about money even if they pretend they do
(2) Things aren't always what they seem
(3) Literally millions are intimidated by money matters
(4) After reading this book, you'll know more than the vast majority of Americans

In the end, I thought the author did a great job taking an intimidating subject and making it more user-friendly for women. This book offers a great start towards achieving financial responsibility.

I am embarrased to say this, but when I first saw the book I didn't think I needed it. I graduated from college, had some savings in the bank, and was married. I figured that I'd always have enough money, and that I could rely on my husband's financial expertise. Um, no. Not to sound preachy, but as a woman I need to be smarter than that. I have to plan better and prepare to always take care of myself.

Maybe the best part about this book, aside from the advice, is that it's fun and just a great, easy read. The authors don't preach and you know going in that they are just like you. They don't make you feel dumb and the advice is simple and easy to follow. Thankfully I didn't pass the book up. I would've regretted it.

For some time now I have been struck by the amazing lack of financial acumen that my generation has been blessed with. (I count myself in that category, since despite being educated enough to know better I have made a couple of my own blunders). A few years ago I started looking for books to educate my then pre-teen niece to start her financial life on the right foot. We started with "The Millionaire Next Door", then tried "Millionaire Women Next Door". While she enjoyed both books, they were not written as the practical "how to" guides that I thought someone her age should be looking for.

In the meantime, I have grown to know and manage a cadre of women between the ages of 18 and 30, and increasingly realize the need for common sense financial guides to help smart, motivated women make good decisions. I was told about this book - On My Own Two Feet - and it definitely hits the jackpot. It covers the major topics that need to be addressed (savings, credit cards, insurance), but comes off as fun and collaborative. Financial goals are set that seem realistic and reasonable, not extreme and out of reach. If a young woman follows the advice in this book, she will be in a position to manage her finances for life. At a minimum, she will ask the right questions of herself and her partner when making major decisions.

I have bought several copies of the book as birthday/graduation presents and am eager to see their response. I definitely recommend this book.

This book does an excellent job of presenting financial advice in a concise, clear manner. It's a very quick read with a wealth of information included. The authors don't talk over your head either. After reading it I now feel motivated to take a look at my own finances and put their suggestions to work for me. I will most likely refer to it for several years to come as simply a good "reference guide" just to make sure I stay on track with everything. I especially found the section on discussing money with your significant other very informative. I wish I had had this advice years ago! To me, it was probably one of the most important psrts of the whole book. I now feel very confident that I can stand "on my own two feet" financially after reading this phenominal book.

I've read more than a few personal finance books, and I've always finished them feeling overwhelmed and unsure how to apply the information to my life. Not anymore! Manisha Thakor and Sharon Kedar's book, "On My Own Two Feet," is the personal finance bible I've been waiting for. This book answers the questions I've often wondered about -- Should I rent or buy a home? Buy or lease a car? What kind of insurance do I really need? How do I prioritize paying off debt, shorter-term savings and saving for retirement? The book teaches young women what to do to build for our futures, and perhaps more importantly, what we don't need to (or shouldn't) be doing at this point in our lives. I highly recommend this book to any young woman who wants to take control of her finances once and for all!

This book has been life-saving to me. I'm from a surface-affluent (actually financially volatile) family, and nobody ever taught me anything about personal finance except to pay bills on time, use credit cards "wisely," and save when I can. It wasn't enough, and I made choices based on perceived (and sometimes actual) needs that put me in a hole I was too embarrassed to talk about and too ignorant to save myself from. When I saw this book last April, I was instantly drawn in by the introduction. The clear, positive, and straightforward advice empowered me. I now have $4000 in savings instead of $4, my credit card debt is down from $14,500 to $8,500, I am saving for a down payment on a house I can comfortably afford, and I am contributing to my employer-sponsored savings plan for retirement. In short, I am on much more solid ground. I can even navigate [...] with reasonable confidence! Every woman should buy this book. Even if you think you know it all, but it: there are true gems here. And if you have never thought much about personal finance, DEFINITELY buy it for yourself and any woman you care about!

Lions and tigers and bears, oh my! Taxes and savings and stocks, oh my! If you've felt that looking at your personal finances was like stepping into Oz, take heart! Manisha Thakor and Sharon Kedar have written a clear guidebook to finding your way home to financial security.

I know. It doesn't seem possible to find all of the financial information that you might need in one small book. But this is no ordinary book, and these are no ordinary authors. Ms. Thakor and Ms. Kedar both hold MBA's from Harvard's prestigious Business School and are Chartered Financial Analyst (CFA) charterholders. These are two intelligent women who have made it their mission to empower other women to come home to financial freedom.

On My Own Two Feet was written by women for women as a tool to demystify the world of finances. In plain language, this book covers each of these areas critical to your financial health: savings, credit cards, credit scores, insurance, budgeting, investing, retirement, purchasing a home, and taxes. Not only do the authors define all terms, but they also give step-by-step instructions to improving your financial situation.

The true brilliance of this book lies in its versatility. You can come to this book, loaded with credit card debt, and you will find a concrete plan to eliminate that debt. You can also come to this book wondering whether to invest in an IRA, index fund or individual stocks, and you will receive clear guidelines. Wondering how to improve your credit score? This book can help. Wondering how to find your credit score? This book will give you the exact web address that you can use to get that score.

Please, do not suffer in silence because you've never had the opportunity to learn how to take charge of your financial life. On My Own Two Feet is an outstanding teacher--a reference that will point the way home, no matter where you are on your financial journey.

Armchair Interviews says: Excellent financial reference for women of all ages.