by Liz Pulliam Weston
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0 of 0 people found the following review helpful:
 Buy any other book this author recommends (see below) instead of this book!, 2008-06-21
How to simplify your finances, is how this book is billed, yet the appendix lists 18 books to consult for further information/insights/ideas/strategies. Moreover, this book's 173 pages (160 if blank pages aren't counted, or about 100 if the print wasn't so huge) seems confused whose its audience is. A third or so of the book recommends how one ought to go about finding a certified financial planner (CFP) to help well-off folks with their investments, or to choose the right mortgage. But an even larger portion of the book addresses people who are probably totally clueless and without much if any net worth. You be the judge whether these "tips" will be of use to you. Everyone, Ms Weston states, needs to save more money and, if possible, spend less on housing costs. No more than a third of your income should be spend on housing, she posits. What to do if you're spending more? Try getting a boarder! Or a roommate! That's what the author suggests, or perhaps one ought to consider refinancing, she adds, or even move. Other ways to save money, according to the author, include the following: run your washing machine only when full; discontinue high-speed internet access or even cable TV; brown bag it for lunch now and then, or even plant a vegetable garden!; pay off your credit cards with the highest interest rates first. Interestingly too, concerning the latter "tip," the author notes that only 1 out of 14 folks, on average, carry a credit card balance over $10,000. But then, oddly, she spends the next ten pages on people who might be in this situation. Shop for lower interest rates, ask your card companies for better rates, make a budget and try to stick to it, and finally, she suggests that folks should just stop using their high-interest cards. Put them on the shelf, she says. I expected a lot more from this book than that. Frankly, you'd be better off just buying one of the books she recommends in her appendix than reading this catalog of the obvious (buy index funds instead of individual stocks, do research before visiting a car dealer looking for a new car, do your banking online and link your various accounts, and so on).
The books she recommends (that I daresay you would be better off consulting than this book): Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independenceby Joe Dominguez & Vicki Robin; Personal Finance For Dummies, 5th editionby Eric Tyson; "Smart Couples finish Rich" by David Bach; "Plan your Estate" by Clifford and Jordan; "100 Questions Every First-time Home Buyer should ask" by Ilyce Glink, "Saving for Retirement" by Gail MarksJarvis, and "The Little book of Common Sense Investing" by John Bogle.
Or I'd add, just consult The Wall Street Journal. Complete Personal Finance Guidebook (The Wall Street Journal Guidebooks).
Good Luck!
1 of 1 people found the following review helpful:
 Warren Buffet We Are Not, 2008-06-09
This is the most uneven financial book I have ever read. Written for a social class that is fast evaporating, alternately simplistic to the point of imbelicity and overly complicated, it is difficult to determine just who would benefit from reading it. Liz Weston's "Easy Money" is so all over the map, in fact, that I will break with Codemaster tradition and review the chapters according the stars they deserve. Here we go:
NO STARS: Chapters One through Three. Oh boy what a mess. Explaining this new-fangled thing called the internet to those born in the 1800's is all very well and good, but some of the advice seems just plain bad. Why, in book called "Easy Money" of all things, would you advise people to open a second checking account for their monthly spending money (pg. 8)? How about that old-fashioned thing called cash? As for budgets, is Weston not aware the sheer number of people only a paycheck away from total finacial disater? The 50/30/20 plan just ain't gonna cut it for most of us. The "Couples and Money" segment leaves much to be desired, and I really don't think it's a good idea to let just one person handle all the bills. There needs to be at least a warning for women here; too many gals get themselves into bad trouble when they shut their brains off and hand over their livelihood for someone else to handle. But by far the worst chapter in the whole book is the third, dealing with credit cards. From highly suspect statistics (pg. 47) that just don't mesh with the reality we see around us, to holding up as a good example a man who juggled six cards for the rewards (pg. 55. This is how people sink themselves.) to the most jaw-droppingly irresponsible get-rich-quick I have ever seen in a finance book (pg. 53 a terrible terrible idea DO NOT DO THIS), this is just bad advice.
TWO STARS: Chapters Four, Nine and Eleven. The writing here is less dicey, but still lacking. The Investing chapter is much the same as what you would find in any Suze Orman book, but Weston isn't as entertaining as The Suze. It's all very inside the box, and I think out of touch with the times. Chapter Nine, about savy shopping, advises us to bookmark bargin shopping sites. While I always appreciate saving on my legos, these sites usually get you to buy things you don't need and hadn't thought of until you saw the "bargin" ad. The end result is you spent more money; you didn't really save anything. The tips on problem solving with customer service reps are pedestrain (don't be a jerk, basically).
THREE STARS: Chapters Five, Six and Ten. And then, suddenly, it got better. The Saving for College chapter is well laid-out and presents a comprehensive view of the vast college money maze. The Insurance chapter is also solid, but I would like Weston to have mentioned that for some under-thirtys, renter's insurance is not really a must. If you have no big assets, why bother? I got my couch for free and if it floats away in a flood I'll just wave it goodbye. Better to keep the money for the medical care I might need in the event of a disaster. Chapter Ten is a bit of hand-holding for the paranoid and those in desperate need of a hobby. If you're that freaked out you probably need more than a chapter to ease your troubled mind, but it's nice that Weston acknowledges the mental/emotional barriers to financial stability.
FOUR STARS: Chapter Seven. Excellent home and car-buying advice, especially the auto sections. Not understanding the nuances of home or even car purchases could quite possibly wreck your life, especially these days. Weston gives classic guidance on timelines, types of loans, and the dangers of overspending. Really worth reading.
FOUR AND A HALF STARS: Chapter Eight. At this point I was not expecting such a good chapter, considering all that went before. But the complexity of some money issues demands outside help, and this chapter is full of good ways to find reliable professionals. If only the whole book had been of this quality, I would be recommending it as a must for your reference shelf.
So that's it. If you are looking to buy a car and want a quick primer, you might find "Easy Money" of value. But honestly, if you want to get your financial head together, please read "Your Money or Your Life", pretty much the best book on the subject available. Weston herself recommends it in her "Resources" index, along with a lot of her own works. Amazingly, she doesn't recommend any Suze Orman. I wonder why?
GRADE: D/C- to B+, depending on the subject
0 of 1 people found the following review helpful:
lots of useful information, 2008-05-19
while I already impliment alot of the basic money 'smarts' mentioned I found lots of useful information - especially regarding retirement plans which I still don't fully understand but thanks to this little book I'm now asking questions that wouldn't have occurred to me before. In any case, it was nice to be able to see that my basic financial maneuvers are right on - now to just figure out the retirement bit and I'll be good to go :)
EASY MONEY lays out the groundwork to show people that irregardless of your financial situation you can save and learn to live better without going deep into debt. I really think with graduation coming up and so many kids heading off to college (where money problems get started with all the credit available) this would make an ideal graduation gift - assuming they read and impliment some of the suggestions.
0 of 1 people found the following review helpful:
Sound Financial Advice, 2008-05-15
Easy Money is well written and easy to understand. There are some bits of advice many will find obvious while others may be wondering, "why didn't I think of that". Liz Pulliam Weston provides a number of clear and simple explanations that won't leave the reader scratching their head. She offers clear options, a solid foundation of financial applications, and tips and tricks to help you better understand your own financial situation.
You can find much of this information online or in various books, but I have yet to find it together in such a clear and succinct package. There is no point in frustrating yourself weeding through all that mess researching for weeks or months trying to understand much of it when it's all here and all clear. This is a great book for getting your finances in order whether you have a good basic knowledge of finances or are completely befuddled by it.
1 of 2 people found the following review helpful:
 A very basic book, 2008-04-18
This book has basic financial information that can easily be found online for free. I see no reason for anyone with access to the internet to purchase this book. And anyone with rudimentary knowledge of finances would not need it in any event.
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