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Summary: Additional sources of information
Review: Personal Finance for Dummies is a primer covering many topics, including an "investing crash course". This section is too limited. I recommend the following for a more thorough introduction to a variety of investing topics: INVESTING FOR DUMMIES (Tyson): for general information aimed at the investing novice; THE SHORT BOOK ON OPTIONS (Wolfinger): for an introduction to this important, but overlooked investment tool; RICH DAD, POOR DAD (Kiyosaki) for sound advice; THE RICHEST MAN IN BABYLON (Cason): for important principles that lead to a successful financial life
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Summary: WHERE YOU WHEN I NEEDED YOU?
Review: Where was this book when a broker with a major firm was sucking me and my parents into the quicksand of limited partnerships? If I'd read this book way back then, we would have saved arguably hundreds of thousands in lost principle, lost opportunities to invest wisely, lost attorney's fees to try to recover some of what was stolen from us, lost sleep, lost trust. Since we made those investing errors I've earned an MBA and can safely and knowledgeably say that this book tells the truth about the shark-infested waters of investing, as well as how to get your financial house in order. Well worth every penny, this book can save you thousands, maybe hundreds of thousands, who knows, maybe millions, of dollars in crushing mistakes that would take you decades, if not forever, to recover from. Know the truth and it will set you free - free from liars, cheats, sharks, con artists, chest thumping "financial gurus", self-serving financial planners (CFPs, CFAs) waiting in hiding to steal your money the old fashioned way - kiss up to you, convince you you're too stupid to make solid, well-informed decisions in your own best interests and then pick your bones clean of every last cent they can. Bitter? No. Wiser. Yes. I learned the hard way. But you can skip much of the heartache my family experienced AND be wealthier and more secure at the same time. READ THIS BOOK!!!
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Summary: This Book Has Paid For Itself 10 Times Over Already!!
Review: We love this book. Being a single income family, by choice, we have to work within a budget. I thought I had a good one set up. I read this book, at the recommendation of one of my husband's coworkers and we have saved over 2/3 off of our auto insurance (with full coverage), [$$$]/month off of our phone bill, and lowered our electric and gas bills by almost half each month. This book has paid for itself within the first month of use.
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Summary: First rate, easy-to-understand advice
Review: I initially resisted buying this book, despite myriad recommendations (particulary on Usenet) because I figured it would just rehash stuff I'd already heard. WRONG. Eric Tyson simplifies advice on insurance, debt, wills, real estate, etc. that applies to most "regular" people. And, in cases where a person with special circumstances, or substantial wealth, would benefit from a different strategy, Tyson lets us know. He does not prescribe one-size-fits-all advice. He exposes some financial scams, and reveals some "impartial" sources of guidance are not unbiased at all. I give this book my highest recommendation. Even if you barely have any finances to speak of, this book will be a great source of information.
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Summary: The best book on personal finance
Review: This book is really a must read for every family. Eric has a style that is very readable and has just the right level of detail.Too many books are dedicated to investing and making the "big buck" in a short amount of time. I was really looking for a book that covered all ranges of home expenses from investing to insurance to kids. This book covers all that in a no-nonsense way. Read it!
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Summary: Not very helpful
Review: After stuffing myself with over a dozen mutual funds and half a dozen checking accounts (thanks to $... handed out by Internet-based banks), I suddenly realized I suck at personal financial planning, so I bought this book. Unfortunately I was sorely disappointed. This is truly a book for dummies. It covers a lot of little basic things, but nothing well at all. It's a jack of all trades but master of none in real life. The messages were simple: save and stay away from debt, but the material was loosely organized which makes it difficult for the reader to synthesize -- wasn't the writer who was supposed to do that? -- and implement. Basically after reading it you'll scratch your head and wonder where to start. If you were not a dummy, you'll feel like a dummy.
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Summary: Hype not Might
Review: This book is nothing but a regurgitation of information available in most financial institutions. The book has two main themes, no credit and save money. Those are both a duh; for most people getting the money budgeted to save is the problem. Most of the detail in this book focuses on where and how to invest all your money.
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Summary: A great book by a true master of personal finance!
Review: Out of all of the personal financial books I've read, this one is probably the best. I was originally turned to author Eric Tyson by a friend of mine who informed me that all of his books are great. And they are! [He's written several in addition to this one; Investing For Dummies, Mutual Funds For Dummies, Home Buying For Dummies, Taxes For Dummies, etc.] Tyson has a very no nonsense and sensible approach. His books are easy to read and understand and they are packed with useful information that will help you save money and make your money work for you without risking it all on something risky or wasteful. I'm going to go back and periodically re-read this book so that I can develop money habits that last me a lifetime. This is a great book for anyone who would like to be rich, and recognizes the consumerism programming that modern day media forces down our throats. It reiterates common sense viewpoints about the handling of money that everyone should be aware of.
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Summary: Knowledge is power
Review: Personal finance is a subject rarely taught in schools, and so it's understandable that many may be uncomfortable when they have to face their financial situations. This book is for those people who feel as though they don't have control over their money and financial goals, and don't know where to turn to in order to get that control. There are many other books out there, mainly motivational, that prey on such readers, but they hardly give any practical or useful advice. Rather, they tell you what you already know intuitively, and make you think that you're hearing it for the first time. You don't gain any more understanding, and you don't change your bad habits. Eric Tyson helps you to learn about ways to save, invest, and buy insurance. He doesn't fluff up the book with lame, tangential stories. He doesn't try to sound profound when speaking simple truths. He sounds more like a teacher who is just trying to explain the basics of sound financial behavior. If you know a lot about personal finance, there may not be much that is new here; it's a "dummies" book after all. But all the advice is well grounded and he explains it well. Of course, some people will disagree with some things. Perhaps you don't want to invest in mutual funds (which he enthusiastically recommends) and would rather play the market by researching individual companies on their own or day trading according to message board tips. But to advise that would be ridiculous. For all the time and hassle involved, the average person may not realize any returns doing that. For the average person, mutual funds are a very good way of earning healthy returns in the long run, without much effort. I found his chapters on retirement accounts and insurance to be most helpful, but only because I didn't know much about the topics. He doesn't get too in-depth, understandably, but he covers the topics with enough detail to enlighten a financial dummy into acting wisely. I highly recommend this book to those who want to learn safe and conservative ways to handle their money and want to gain a clear understanding of how to evaluate their own financial health. It's a good place to start, but don't stop your financial education here. Keep reading! And even if you do think you know everything, skimming through this at the library might still be useful. I'm reviewing the 2nd edition, by the way. The 3rd edition appears to have about 70 more pages, and I'm looking forward to reading it soon.
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Summary: A solid overview of the basics
Review: This book is the financial equivalent of a weight loss book that rejects fad diets and instead advises you to stick to the fundamentals, such as getting regular exercise and eating more lean foods like fruits and vegetables. In this book, Tyson lays out the basics of personal finance, namely, eliminate "bad" debt, reduce frivolous spending, invest wisely, and start saving for future expenses such as retirement, home ownership, and children's education. He has no agenda to push, so he is free to warn his readers of the risks of taking investment advice from those who do. And it is written in a clear style that is easily understood by even the least financially savvy reader. Of course, some of his advice will meet with resistance in consumer happy America. For instance, he recommends never buying consumer items such as cars on credit, because the car itself (unlike a house) has no investment potential, and the interest you are paying on the loan is not going to further your own long term financial health. In theory, this makes perfect sense, but in practice, most people simply cannot afford to buy their first car with cash (not if they want a new one) and a used car can be a maintenance nightmare if the previous owner didn't take care of it properly. Other advice is questionable, such as buying your groceries only at "club" stores like Sam's Club. Well, that's nice if you're feeding an army, but most young, single people don't want to buy their peanut butter by the barrel and lug these huge packages up several flights of stairs to their apartments, and will gladly pay a bit more for the convenience of getting goods in quantities they can actually use. But these minor nitpicks aside, this is a fine introductory work. There are so many books out there on investing and personal finance, and it is a relief to find one that sticks to basic, common sense fundamentals instead of trying to entice you into the latest investment fad. In short, this is a terrific place to start for a person who wants to get started on the path to smart long term money management.
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