Rating: 
Summary: Enjoyable Reading
Review: Borrowed this book from local library...enjoyed it so much that I purchased it. Easy and enjoyable reading.
Rating:
Summary: Please Read The Book Carefully Before Writing A Review
Review: Hey Pdaddy24 did you actually read the book? I did. And Michelle does not write use cash for EVERYTHING. She says be VERY VERY CAREFUL when you use credit because you often spend more when you use plastic. She says cash is better than credit, which it is! If you are in the financial services industry I hope your clients get better informed advice.
Rating: 
Summary: No Nonsense-Common Sense
Review: I am a big fan of Michelle Singletary-I read her column in the Washington Post which is how I found out about her book. She uses plain talk and common sense to talk about ways in which to be a financially sound person. The only reason why I gave it four stars instead of five is because I felt like it strays a little of course towards the latter part of the book. It focuses on the 7 money mantras in the first half and then the second half goes into explaining various aspects of financial security (life insurance-whole vs.term, etc.) Overall a very good book for someone who is trying to get their finances in order and needs a starting point. This is the EXACT SAME book as Spend Well and Live Rich-so don't buy the same book twice!
Rating: 
Summary: Interesting...,but Naive
Review: I expect better from a highly educated journalist or "so-called journalist" such as Michelle. She writes this book from a naive perspective.
For example, her mantra regarding credit where she says that people should use cash to buy everything and not use credit. Many people are not in situations where they can pay cash for everything and I don't believe for one second that she has NEVER used credit.
What about the family who works to support their family but does not have they available CASH to buy a computer for her children. Should she deny them the opportunity to improve and grow by not using credit? I think not. But Michelle does. And this type of immature thinking is seen throughout her entire book. As a 13 year veteran of the financial services industry, I would expect more from Michelle...such as reality.
Rating:
Summary: you can't have a dollar without a penny!
Review: I have been a fan of Singletary's Washington Post column for years, and have heard her relay the wisdom of her grandmother Big Mama many times. Believe me, Big Mama knew what she was talking about and it is evident whenever you are faced with a financial planning issue when some nugget of her knowledge comes back to you! The 7 Money Mantras are pithy and smart, and are delved into in each chapter. Singletary brings up her own experiences, making a point rather than pulling at heartstrings (although I did feel teary when she wrote about caring for her disabled brother.) I read this book in a day -- yesterday! --- and I am already telling my shopaholic friends "If it's on your ass, then it's not an asset!" Go, Big Mama and Michelle!!! Keep telling it the way it is and the way we should see it!
Rating:
Summary: Breast Feeding is a Money Saving Proposition? Who Knew?
Review: I have to admit, I am often a sucker for financial advice books of the "learn to manage your money" ilk, rather than "hey, here's how to get rich and never worry about money again" variety. A few weeks ago I heard Michelle Singletary (who is also a newspaper columnist at the "Washington Post," where she writes a column-"The Color of Money") in an interview on the Diane Rehm show on NPR a couple of weeks ago, and I quickly picked up her book. She is brash and funny and she definitely is no holds barred in "7 Money Mantras for a Richer Life," and that's a good thing. So what are the seven mantras? They are: (1) If it's on your ass, it's not an asset!; (2) Is this a need or is it a want?; (3) Sweat the small stuff; (4) Cash is better than credit; (5) Keep it simple; (6) Priorities lead to prosperity; and (7) Enough is enough. some of those are self-explanatory and some aren't, but the general gist of the advice is: pay attention to where your money is going and don't get wrapped up in material possessions. Now this isn't necessarily new advice, but Singletary's presentation goes a long way toward making all the advice memorable and useable. Much of the advice was handed down from her grandmother, Big Mama, who is referred to throughout the book. Big Mama brought up Singletary and her four siblings in Baltimore on a salary that never reached more than $13,000 a year. Singletary notes that "Big Mama knew the difference between buying things that improve your net worth and stuff that just makes you look wealthy." Clearly, in the area of finances Big Mama was far wiser than myself and many others. Singletary offers some of her wisdom and experiences along the way. For example, say no to lunches out during the workday. But if you do, skip appetizers and desserts. You'll cut costs and calories. And try going a month or two without a credit card. Contrary to popular belief, when it comes to money, it's the small stuff that counts. Sweat it. She notes that Big Mama would say, "You can't have a dollar without a penny." Just think about it and it will make sense to you. Singletary also boasts that she breast-fed all three of my children because the milk was free. In fact, she breast-fed her first two children until they were two years old. Singletary literally is giddy about all the money she saved on infant formula. In addition to her advice and that of Big Mama, she also offers 10 pages of penny-pinching tips sent to her by readers. I'm not sure I want to try some of them, but I guess if you truly watch your money it all adds up. An example from her readers: Don't order lemonade at a restaurant. Ask for a lemon, squeeze it into your water glass and add some sugar. She also provides concise definitions of the language of credit from cash advance to grace period to various interest rates charged. She doesn't sugar coat anything either. Getting out of debt is rarely easy, so she warns "beware of those who would 'fix' your debt." And Singletary offers some advice my wife may have wished she had been aware of. Before you marry, exchange credit reports. Singletary thinks this is a great idea. As she says, "What better way to get to know your honey than to see how he's handled his money?" Thing is, she is probably right. She goes on to discuss other ins-and-outs of managing money in a marriage, often using her experiences in her marriage as examples. For instance, she and her husband have an agreement not to spend more than $200 without discussing it with each other first. Her take on making funeral arrangements is brutally honest but humorous. When her grandfather died, the funeral director tried to get Big Mama to buy the casket that her husband deserved. Big Mama's response: "He won't know if I'm burying him in a pine box or a bed sheet. It doesn't make good sense to bury good money in the ground." This is a great book for those trying to cut expenses and save. The advice is sound and of use to everyone.
Rating:
Summary: "It's okay to be cheap!"
Review: I've considered myself a frugal spender, but Singletary puts me to shame! This book can be an eye-opener. 7 Money Mantras ("MM") offers such a unique perspective it's not a stand-alone. I recommend reading 7MM in conjunction with other books on money management, to get a well-rounded perspective. Singletary speaks to a specific target market: those who have run up credit card debts and developed unhealthy patterns that have spun their lives out of control. If her first person accounts are true (most authors exaggerate at least a little!) then she's determined to eradicate seeds of financial destruction before they take root and grow. The best parts of 7MM are the parts dealing with family and setting limits with adult children. I never had the luxury of moving back home and have no children, but I watch neighbors and friends make huge sacrifices for kids who have no motivation to move and grow. Some of these sections are hilarious -- I laughed out loud at her response to her nephew's question, "Doesn't rent include food?"
"Well," she answers, "when you're on your own, ask your landlord when you can expect him to drop by with a bag of groceries." Some suggestions will have to be adapted for specific lifestyles. I *love* doggie bags and enjoyed her support as I often get teased. Most restaurant meals are too big and I take half home for next day's lunch. I choose not to have cable, which she would applaud, but I do have a DVD. As she points out, it is tempting to buy DVD's but you don't just get a better picture: the director's cut adds significantly to enjoyment, if you're a film buff. And while she's right on the money (!) about families, she misses the mark on singles. Sure, a home-cooked meal is a welcome gift...but I would *much* rather meet someone for lunch in a restaurant. Spending an evening with a family can be stressful. And I believe Singletary needs to add a caution for people who have good jobs. I once worked with a sales manager who lugged two shopping bags of paper towels back to the office after lunch, cheerily bragging that he'd saved five dollars. Aside from looking a little silly, he communicated that his focus was saving not earning -- not a good image for someone in his field! For someone moving up, an investment in clothes and haircut can pay huge dividends. And sometimes you need to get what you pay for. Finding the cheapest dentist, therapist or coach can cost a bundle. It's easy to go overboard in either direction. Similarly, Singletary misses some social significance of meals. Eating lunch with coworkers can be the best -- sometimes the only -- way to network. And while a letter or email can be cheaper than a call, there are all sorts of ways to get discounted phone calls nowadays. I use a calling card that costs three cents a minute. So bottom line, this book can suggest creative ways to save, but I recommend using the text as a starting point for discussion and a new way to study your spending -- not the final word.
Rating:
Summary: "It's okay to be cheap!"
Review: I've considered myself a frugal spender, but Singletary puts me to shame! This book can be an eye-opener. 7 Money Mantras ("MM") offers such a unique perspective it's not a stand-alone. I recommend reading 7MM in conjunction with other books on money management, to get a well-rounded perspective. Singletary speaks to a specific target market: those who have run up credit card debts and developed unhealthy patterns that have spun their lives out of control. If her first person accounts are true (most authors exaggerate at least a little!) then she's determined to eradicate seeds of financial destruction before they take root and grow. The best parts of 7MM are the parts dealing with family and setting limits with adult children. I never had the luxury of moving back home and have no children, but I watch neighbors and friends make huge sacrifices for kids who have no motivation to move and grow. Some of these sections are hilarious -- I laughed out loud at her response to her nephew's question, "Doesn't rent include food?"
"Well," she answers, "when you're on your own, ask your landlord when you can expect him to drop by with a bag of groceries." Some suggestions will have to be adapted for specific lifestyles. I *love* doggie bags and enjoyed her support as I often get teased. Most restaurant meals are too big and I take half home for next day's lunch. I choose not to have cable, which she would applaud, but I do have a DVD. As she points out, it is tempting to buy DVD's but you don't just get a better picture: the director's cut adds significantly to enjoyment, if you're a film buff. And while she's right on the money (!) about families, she misses the mark on singles. Sure, a home-cooked meal is a welcome gift...but I would *much* rather meet someone for lunch in a restaurant. Spending an evening with a family can be stressful. And I believe Singletary needs to add a caution for people who have good jobs. I once worked with a sales manager who lugged two shopping bags of paper towels back to the office after lunch, cheerily bragging that he'd saved five dollars. Aside from looking a little silly, he communicated that his focus was saving not earning -- not a good image for someone in his field! For someone moving up, an investment in clothes and haircut can pay huge dividends. And sometimes you need to get what you pay for. Finding the cheapest dentist, therapist or coach can cost a bundle. It's easy to go overboard in either direction. Similarly, Singletary misses some social significance of meals. Eating lunch with coworkers can be the best -- sometimes the only -- way to network. And while a letter or email can be cheaper than a call, there are all sorts of ways to get discounted phone calls nowadays. I use a calling card that costs three cents a minute. So bottom line, this book can suggest creative ways to save, but I recommend using the text as a starting point for discussion and a new way to study your spending -- not the final word.
Rating:
Summary: "It's okay to be cheap!"
Review: I've considered myself a frugal spender, but Singletary puts me to shame! This book can be an eye-opener. 7 Money Mantras ("MM") offers such a unique perspective it's not a stand-alone. I recommend reading 7MM in conjunction with other books on money management, to get a well-rounded perspective. Singletary speaks to a specific target market: those who have run up credit card debts and developed unhealthy patterns that have spun their lives out of control. If her first person accounts are true (most authors exaggerate at least a little!) then she's determined to eradicate seeds of financial destruction before they take root and grow. The best parts of 7MM are the parts dealing with family and setting limits with adult children. I never had the luxury of moving back home and have no children, but I watch neighbors and friends make huge sacrifices for kids who have no motivation to move and grow. Some of these sections are hilarious -- I laughed out loud at her response to her nephew's question, "Doesn't rent include food?"
"Well," she answers, "when you're on your own, ask your landlord when you can expect him to drop by with a bag of groceries." Some suggestions will have to be adapted for specific lifestyles. I *love* doggie bags and enjoyed her support as I often get teased. Most restaurant meals are too big and I take half home for next day's lunch. I choose not to have cable, which she would applaud, but I do have a DVD. As she points out, it is tempting to buy DVD's but you don't just get a better picture: the director's cut adds significantly to enjoyment, if you're a film buff. And while she's right on the money (!) about families, she misses the mark on singles. Sure, a home-cooked meal is a welcome gift...but I would *much* rather meet someone for lunch in a restaurant. Spending an evening with a family can be stressful. And I believe Singletary needs to add a caution for people who have good jobs. I once worked with a sales manager who lugged two shopping bags of paper towels back to the office after lunch, cheerily bragging that he'd saved five dollars. Aside from looking a little silly, he communicated that his focus was saving not earning -- not a good image for someone in his field! For someone moving up, an investment in clothes and haircut can pay huge dividends. And sometimes you need to get what you pay for. Finding the cheapest dentist, therapist or coach can cost a bundle. It's easy to go overboard in either direction. Similarly, Singletary misses some social significance of meals. Eating lunch with coworkers can be the best -- sometimes the only -- way to network. And while a letter or email can be cheaper than a call, there are all sorts of ways to get discounted phone calls nowadays. I use a calling card that costs three cents a minute. So bottom line, this book can suggest creative ways to save, but I recommend using the text as a starting point for discussion and a new way to study your spending -- not the final word.
Rating:
Summary: Consistently wise and friendly advice
Review: I've read Michelle Singletary's columns in The Washington Post for years -- sometimes for financial insights, but more often because she's got a great sense of human character and story-telling. She's funny and empathetic. She's also the voice of reason when "money issues" turn out to be about simmering tensions inside families, relationships, etc. (Believe me, this happens to rich people, poor people and all of us in between.) The ultimate test: her advice works! "Seven Money Mantras" is written in that same spirit, while packing in a lot more detail and breadth. I loved her section about what to do when adult children want to come home after college and live with their parents for a while. It's nobody's first choice -- but it's a tragedy when people can't make it work somehow. She's been there, and she knows what to say about charging rent (do it) . . . cosigning on credit cards (don't!) . . . and setting a time limit (it's better for everyone.) She's got a lot more good, common-sense principles. As she puts them all together, she spells out a way to make these kinds of living situations work a lot better than people might have expected at first. If you're looking purely for this month's stock tips, try Money magazine or Barron's instead. But if you want a lasting perspective on how to sort out bigger challenges that have a money component to them, this book delivers 100%. And if you've got a relative who wants to borrow money, lend them this book instead.
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