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

Manisha Thakor (Author), Sharon Kedar (Author)

Book Description

Publication Date: May 1, 2007

Most young women would love to live a carefree lifestyle filled with lunches, Louis Vuitton, and lattes, but what you might not know is that doing so can lead to future financial breakdown.

Whether you've been living paycheck-to-paycheck, are trying to save for a down payment on your first home, or are hoping to one day retire in comfort, On My Own Two Feet teaches you how to balance your desire to live well today with the need to save and invest for tomorrow. This lively, no-nonsense financial guide explains:

• How much of your income to save
• How to avoid the perils of credit card debt
• How to create a budget you can live with (and still have fun!)
• How to invest widely using a keep-it-simple plan
• How to deal with real-life situations

The sooner you apply the financial concepts highlighted by Manisha Thakor and Sharon Kedar, the more likely you'll achieve common life goals--all free from financial stress.

Editorial Reviews

Review

"You can either manage your financial life, or let it manage - and torture - you. Financial service professionals and CFAs Thakor and Kedar recommend the former and show you how to achieve it. This guide to financial planning for young women (men, this applies to you, too) is sound and prudent... Thakor and Kedar are more like financial physicians than financial consultants." -- Kirkus Review - April 2007

From the Back Cover

ADVANCE PRAISE FOR ON MY OWN TWO FEET

"This is the path to true liberation: how to handle all those hard-earned dollars. Or make do with what you've got. And if I were a modern boy, I'd put on a wig and buy one as well. We all need this guidebook."
- Lynn Sherr: ABC News Correspondent & Author of OUTSIDE THE BOX: A Memoir

"ON MY OWN TWO FEET is a must-read for all women who want to own their own destiny. In clear, penetrating prose, Thakor and Kedar guide their readers along the journey to financial security and personal freedom. Whether you are going to run a corporation, a household, or your own extraordinary life, this book is indispensable."
- Nancy F. Koehn: James E. Robison Professor of Business Administration, Harvard Business School

"A real page turner - and that's not something typically said about personal finance books! ON MY OWN TWO FEET is chock full of powerful, straightforward advice about how to take charge of your financial future. Trust me, you can't afford to miss this book."
- Denise Brosseau: Co-Founder, Forum for Women Entrepreneurs

"ON MY OWN TWO FEET is the financial equivalent of the basic black dress and red handbag in every woman's closet. Choose it early and use it often for maximum positive effects. I mentor many young women, and this book will be one of my recommended financial tools as they build for future professional and personal dreams."
- Betsy Heller Cohen: Vice President & Futurist, Nestle Purina Petcare Company

"If you've got a nagging sense of needing to put your financial life in order but dread facing up to it, ON MY OWN TWO FEET gives you the solid, straightforward advice you need, in a brief and super-efficient manner. This guide is an excellent place to start when you don't know where to begin (and don't even feel like getting going!)"
- Shira Boss: Author of GREEN WITH ENVY: A Whole New Way to Look at Financial (un)Happiness

See all Editorial Reviews

Product Details

• Paperback: 183 pages
• Publisher: Adams Business; 1 edition (May 1, 2007)
• Language: English
• ISBN-10: 1598691244
• ISBN-13: 978-1598691245
• Product Dimensions: 5 x 0.6 x 7 inches
• Shipping Weight: 8.8 ounces (View shipping rates and policies)
• Average Customer Review: 4.7 out of 5 stars  See all reviews (81 customer reviews)
• Amazon Best Sellers Rank: #237,593 in Books (See Top 100 in Books)

Most Helpful Customer Reviews

44 of 44 people found the following review helpful

5.0 out of 5 stars Concise and practical June 8, 2007

By D. Alder

Format:Paperback

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.

16 of 17 people found the following review helpful

5.0 out of 5 stars "On My Own Two Feet" Authors Know Their Money May 23, 2007

By Jennifer Estroff

Format:Paperback

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!

9 of 9 people found the following review helpful

5.0 out of 5 stars Great start towards financial responsibility June 16, 2010

By Elisabeth

Format:Paperback|Amazon Verified Purchase

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.