The Smartest Way to Save: Why You Can't Hang on to Money and What to Do About It [Paperback]

Heidi E. Clingen (Contributor), Samuel K. Freshman (Contributor)

Editorial Reviews

Product Description

TheSmartestWay to Save, Why You Can't Save Money and What to Do About It is your guidebook for surviving the recession. Your money is hard to make, but easy to spend. You know you need to save to pay for your home, send your kids to college, and retire. But so many people drown in a sea of toxic debt and feel powerless to overcome destructive, compulsive spending. This concise, readable manual will help you spend less, save more, overcome bad habits, and conquer debt. It is filled with hundreds of practical, doable tips that you can apply to your daily life, regardless of your age or finances. Authors Samuel K. Freshman and Heidi Clingen have two different perspectives, but their stories come together to encourage you to embrace your economic situation with enthusiasm. Their straight talk is engaging and compassionate and will make a genuine difference in your wallet--and your future!

Product Details

• Paperback: 248 pages
• Publisher: BookSurge Publishing (December 15, 2008)
• Language: English
• ISBN-10: 141965683X
• ISBN-13: 978-1419656835
• Product Dimensions: 8.9 x 6 x 0.9 inches
• Shipping Weight: 13.6 ounces (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (40 customer reviews)
• Amazon Bestsellers Rank: #89,778 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

9 of 9 people found the following review helpful:

4.0 out of 5 stars Where your money goes., January 31, 2009

By	Steve Burns "Life long learner" (Nashville, TN) - See all my reviews (TOP 500 REVIEWER)    (VINE VOICE)

This review is from: The Smartest Way to Save: Why You Can't Hang on to Money and What to Do About It (Paperback)

This book does a great job of showing why it is not what you earn that is important but what you keep that matters. While so many of us are busy playing financial offense, literally killing ourselves for large incomes or with two income families. What we should really be doing is playing good financial defense, buying what we truly need. We should buy a car based on what we need a car for, which we can usually get used for a fourth of what a new car costs.Our home should be our castle but it should not cost as much as a castle in the mortgage and to maintain. The book turns over all stones in discussing how to save smart.
Here are Sam's principles for financial independence:
1. Daily choices add up.
2. Small savings over a long time create more wealth than big risks.
3. Pay yourself first.
4. Separate wants from needs.
5. Toxic debt is poison.
6. Credit is for emergencies. Pay cash until you reach your goal.
7. Windfalls are capital, not income. Capital is for wealth investment.
8. Never take a risk or purchase an item you cannot afford.
9. Put your own oxygen mask on first. (Do not try to help others financially until you are stable yourself).
10. Inexpensive gifts can show you care. Expensive gifts give a false impression and are motivated by insecurity.
11. Enjoyment of luxury is brief. But the anxiety can last a long time, at least until the debt is paid.
12. Get fulfillment from personal relationships not material things.
13. Why are you shopping? Know the reasons.
14. Resist the urge to indulge in instant gratification; invest instead.
15. Ask, ask, ask for what you want-and be clear. (For deals and discounts).
16. Comparison shop first.
17. Buy wholesale whenever possible.
18. Do not buy labels, buy value.
19. Buy pre-owned whenever appropriate.
20. Keep price tags and receipts.
21. Keep your funds invested and working for you, but cautiously.
22. Income $1.00; spend .99 cents= happiness; spend $1.01=misery.
23. Buy what pays you; don't buy things that decrease in value or cost you to own.
24. Immediately set aside for taxes.
25. Personal purchases cost you 60% more because they are after tax.
26. It's not how much you make-IT'S HOW MUCH YOU KEEP.

The book does a great job explaining all of these principles in great detail so you can follow them. I am sure this book will pay for itself in the money you save after reading it.

6 of 7 people found the following review helpful:

4.0 out of 5 stars Good advice for beginners, May 12, 2009

By	Alice Berger "Bergers Book Reviews" (North Carolina, USA) - See all my reviews

This review is from: The Smartest Way to Save: Why You Can't Hang on to Money and What to Do About It (Paperback)

In this uncertain economy, we're all looking for ways to cut expenses and put money in the bank. Authors Samuel K. Freshman and Heidi E. Clingen have created a system called The SmartestWay to Save to help make it easier.

This book is all about saving, not investments. You won't find any advice on where to put your money once you've accumulated it. Instead, you're encouraged to do your own research and choose wisely. But if you want to learn how to build your savings, The SmartestWay to Save offers some ideas.

Many of the concepts discussed are pure common sense - don't spend to keep up with others, don't worry about what other people think, think before you spend, pay yourself first, comparison shop, and avoid debt.

But at times I wondered about their suggestions. They strongly tell us to avoid debit cards and ATMs, but if you keep careful tabs on your checking account balance, you can very safely use them to avoid credit cards. Shop discount stores like Sears and JCPenney? The last time I stepped inside either of these stores, I hardly thought their prices resembled "discount" prices. And Avon is "inexpensive" makeup? I don't think so.

Many internet sites are sprinkled throughout the book, but these are simply store links easily found through a search engine. Instead I'd have liked to see information on finding "discount codes" at websites we shop on a regular basis - they're out there if you know where to look for them. Tips on using the internet to find the best prices around would also have been helpful.

I'm a very frugal accountant, so my opinion may be slanted a bit, but to me, this was a very basic book designed to sway a spender to think about and start saving money. If you've been frugal for a while, I'm pretty sure you've been doing many of the suggestions already, and you'll find this book too basic for your needs.

Reviewer: Alice Berger, Bergers Book Reviews

3 of 3 people found the following review helpful:

5.0 out of 5 stars Much if the material is basic... but it is pertinent to the times, April 29, 2009

By	Charles Evans "Call me Kevin" (North Carolina) - See all my reviews (VINE VOICE)    (TOP 100 REVIEWER)    (REAL NAME)

This review is from: The Smartest Way to Save: Why You Can't Hang on to Money and What to Do About It (Paperback)

"The Smartest Way to Save Money" is not a groundbreaking book on saving and the ability to make more with less. The difference here is that the authors offer a solid plan (and series of plans) to help the reader make the correct financial choices.

Each chapter is relatively short and to the point - usually 5-8 pages that explains the problem and what you can do to change your spending habits. Some of the recommendations -

- Analyze the psychology of WHY you are in debt - is it because of misfortune or because you use spending to fulfill a deeper need.

- Strategies to pay off your credit card deb

- How to save - by incorporating a savings budget

- How to spend less on gifts, but to get a greater effect.

Again, most of the concepts are simple and mostly common sense, however the authors are able to present a realistic diagnosis and cure for your financial plan. The power is in the effectiveness of the authors to effectively boil down the concepts and eliminate the excuses. You may find some of the concepts old fashioned but it doesn't mean that we should try them in these trying times.

Final Verdict -

The authors would say not to buy his book... they would say to read the book, but to check your local library before committing to buying!

5 Stars

----Please note that I reviewed a free promotional copy which was provided by the author/publisher--