This one’s for the ladies…

Well, the first chapter of this book is great. It is eye opening and thought provoking. It addresses the differences and similarities in the ways men and women approach money. One of the really fantastic things she said was that women are expected to do good while men are expected to do well. Women are expected to help while men are expected to get wealthy. Consequently, there are huge differences in the attitudes toward money of men and women. There are a couple of self assessments and again, they are helpful in sussing out your money attitudes.

After that, it becomes the McDonald’s of financial/self-help books. Long on choices, but not much meat. 75 mistakes are covered. Each mistake gets about a page. The “solutions” get about a paragraph each. There are two or three solutions for each mistake. Many boil down to going to see a financial planner. The author, Dr. Lois P. Frankel, is a psychologist. She ought to know that not every one of these mistakes can be fixed in a paragraph. She does acknowledge that once in a while by telling the reader that they may need therapy to deal with the issue. Mostly though, it’s pat answers.

The first chapter of the book is inspiring though. It points out that most women don’t think rich, they think survival or comfortable. It got me thinking about that, and she’s right. I think about a snug little house and a nice garden. I don’t think about my bank balance. However, through a combination of frugality and investing, rich might not be completely impossible. Wouldn’t that be nice? Not billionaire rich, but a nice, fat investment portfolio that will support us. Overall, that was the best thing about the book, that first chapter. It will get you thinking about your attitudes about money and get you to start thinking a little bigger maybe.