And by "financially naked" we mean "financially honest." After all, if you can't be straight with your significant other, who can you be straight with?

So in honor of Valentine's day, we'll be giving away TWO copies of the new hit book - "Get Financially Naked: How to Talk Money with Your Honey" by Manisha Thakor & Sharon Kedar.

The winners won't get them until *after* V-Day (cuz a certain someone was slackin' on his game) but you'll still enjoy it just the same! Plus I don't think finances will be on your mind then anyways ;)

Here's what Amazon has to say about it:

"This inspiring, action-oriented guide helps young women in committed relationships understand and manage their money matters. Complete with charts, graphs, case studies, and tip-based advice, this succinct, straightforward guide speaks to worried women in the same way that made On My Own Two Feet a mega-success."

What do you think? Want to win it? I know it says it's geared towards women out there, but having read some of it myself I can honestly say it's still a pretty good read for men. Especially men who want to understand women more, and/or suck at communication ;) Maybe you both could read it together?

Here's what to do to win:

• Leave a comment with what you and the mr/mrs will be doing this Valentine's weekend.
• Leave contact info (email, blog, twitter)

Do it by midnight on Saturday, Feb. 13th, and you'll be entered to win one of TWO free copies! I'll use Random.org to select the winners, and I'll announce 'em back on this post by Monday. Good luck everyone! It's gonna be a great weekend, that's for sure ;)

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*Open to only those with U.S. mailing addresses (sorry)
** But you can always grab the book on Amazon
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*GIVEAWAY OVER* The 2 lucky winners are.....Investing Newbie and Mrs. Money! Congrats ladies :) Stay tuned for more giveaways coming up soon.

Labels: book reviews, giveaways

The new book by David Bach! Famous for The Automatic Millionaire - one of my top 3 favorite books ever :) Start Over, Finish Rich drops today, but if you're one of the 3 lucky winners here you get your very own copy for free!

I haven't had the chance to finish the one I was sent myself, but so far it's very Bach-like! haha...which is def. a good thing. Since I can't put my own special review on it, here's a clip from the press release to give you a better taste:

Drawing upon tried-and-true principles of wealth building, Bach spells out the ten most crucial steps for putting a financially secure future squarely back in reach, including how to get out of debt, repair credit, rebuild savings, revitalize retirement plans, rebuild with real estate, and reorganize one's financial life for the high tech age.

The first step to getting back on track financially is to stay positive and recommit to wealth. "Don't stop saving, don't stop investing, and don't give into fear and despair," urges Bach. "There are as many, if not more, opportunities to build wealth during recessions and the recoveries that follow them as there are during boom times. But you won't get anywhere if you are too scared-or feel too defeated-to do anything. You have to have a plan based on action! Doing nothing is the worst choice you can make. You have to hit the reset button and START OVER."

Among the key steps to starting over in 2010 are the following:

• Find Your Money
• Deal with Your Credit Card Debt
• Fix and Protect Your Credit Score
• Rebuild Your Emergency Savings
• Re-energize Your Retirement Plan
• Make it Automatic (link to one of my posts, not part of book)
  
• Rebuild with Real Estate

Is this a book you'd want? Then enter to win a free copy!

1. Drop a comment and tell us what your own favorite financial book is.
2. Then just leave a way for me to contact you (twitter, blog, email)

That's it! Drop it by Friday @ Midnight, and I'll draw the 3 winners via Random.org over the weekend and post 'em up on THIS same post - So be sure to check back on Monday, January 4th to see if you've won. Would be a great way to start out 2010 right, eh? :)

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PS: I've had a few people email saying that they can't comment for some reason. If this happens to you, go ahead and email me & I'll use the time stamp to determine where your entry # is :) Sorry!
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*THE WINNERS* Out of all 89 entries (taking out my own comments & those who entered too late), we had 3 big winners! And those are.....drum roll please....Saving Cents in the City, Laura, and HighClassLowIncome! Congrats my friends, and thanks to everyone who participated :) Be on the lookout for a LOT more giveaways in 2010!

Labels: book reviews, giveaways

Well, I finally finished Secrets of a Stingy Scoundrel: 100 Dirty Little Money-Grubbing Secrets and it sure was interesting! (and a nice change of pace)

It takes an special person to pull something like that off, and Phil Villarreal does so with the shocking grace you can only expect from such a book ;) I still don't know whether to hug or punch him, but needless to say it was damn entertaining.

That's probably the best word to describe this book: Entertaining. I'm fairly confident that if you were to try and pull off even half of these 100 tips you'd find yourself in jail. Or in an alley somewhere with a broken nose. BUT, a broken nose with an extra $50 in your pocket ;) That being said, there were also a ton of EXCELLENT tips to try out with a good conscience - especially in the first half of the book (the last 20 or so makes you want to take a shower).

Here's a snippet from Tip #38: "Don't Poop On Coupons":

"It saddens me that coupon clipping is viewed as the pastime of the desperate housewife, some meaningless, mundane project to fill the time between soap-opera airings, floor mopping, and self-supplied, amateur porn web-camming. Here and now I want to start an effort to reclaim coupon clipping for men everywhere. I want Harley riders to start keeping plastic, accordion-style coupon holders in the back of their hogs. I want UFC fighters to tout the benefits of $1 off Raisin Bran coupons after bouts. I want John Wayne to rise from the grave, visit a Circle K, and push a buy-one-get-one-free Thirstbuster card over the counter...Coupons are real money, and to throw them away is to ignite your wallet in flames."

He goes on to share his best tips on getting these coupons, but I thought this was an accurate sampling of his hilarious nature. Overall, he did a great job keeping my A.D.D. attention and really opened my eyes to a level of frugality I never thought possible. If you have an open mind, I recommend it 100%. If you're a good little boy or girl, I wouldn't think twice about picking it up ;) Unless, of course, you want to LOOK like a bad ass and carry it around with you? That would most definitely shed your goody-two-shoes image within minutes, believe me. I can't tell you how many stares I got on the train while reading this the past few mornings. It also looks like Phil has earned himself a sexy little fan club:

The Giveaway (if you haven't been scared off yet):

Here's what to do in order to win one of two copies - it's super easy, and super fast:

1. Drop a comment with your very own "dirty little saving secret"
2. And 2, well....there is no #2. Just do #1 and you'll be entered :) And if you're not feeling feisty enough, just make one up or steal someone else's tip so you can be entered - whatever works.

I'll be giving away both copies Saturday morning so be sure to leave some sort of contact info here so I can easily alert you! And I'll be using Random.org to pick the 2 winners so everyone has an equal shot (if you can't wait until then, check out Amazon and get it while it's cheap). Now comment away my dear friends! It's time to rot someone else's brain with such awesome scoundrel-ness :)

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PS: You can also find Phil on Twitter (where he tweets), Consumerist (where he writes), and The Arizona Daily Star (where he reviews). Thanks for the free books my man!
PPS: There's another giveaway at PF Firewall that ends Wed. @ Midnight, so enter there too.

Labels: book reviews, frugality, giveaways, money hacks, saving

Just when I thought I'd read the best of the best, I Will Teach You To Be Rich comes along and jumps into my Top 3 Favs :)

BOOK: I Will Teach You To Be Rich
AUTHOR: Ramit Sethi
SEXINESS: Off the charts!

While each book I've read adds a little somethin' somethin' to the PF world, this one comes the closest in capturing the main qualities I look for in a book: Theory, practicality, "how to's", and most importantly, entertainment! If you don't enjoy what you're reading, you'll never finish it - and I guarantee this one does the trick (unless you don't have a sense of humor, in which case you should stop reading now...)

But one of the coolest things is that I now have a book that I can recommend to all "young" people, esp. those fresh out of graduation. While The Richest Man in Babylon and The Automatic Millionaire are fantastic reads, they don't completely circle the realm of personal finance (or at least not modernly). IWTYTBR is the perfect mash-up of both of these books, except with even MORE flair and energy. Which is exactly what us young people need - a quick kick in the pants and a few jokes to get us going in the right direction.

If you like my style of writing, you'll definitely love Ramit's....if he weren't Indian I'd have wondered if we were separated at birth ;) Here's what I mean:

"Why does just about everything I read about personal finance make me want to paint myself with honey and jump into a nest of fire ants? Personal-finance advice has been geared toward old white men and taught by old white men for far too long."

So yeah, he's pretty damn funny. But he's also smart as hell. A graduate of Stanford and creator of IWillTeachYouToBeRich.com - one of the more successful pf blogs out there - he really knows his stuff. I'd like to think I've mastered most of this over time, but there's always something new to learn! In my case, it was the "investing" section of his book. Unlike the other books, he gets into this pretty well and gives some solid advice as to how to EASILY do this w/out much worry. He also gets into optimizing credit cards, savings accounts, automation, and a handful of other goodies. There's even a 6-week program to follow to REALLY get your ish in order - I highly recommend it.

And while he doesn't regard the budget as sexy (gasp!), he does offer a "Conscious Savings Plan" in its place - which is fine with me, as long as people STICK to it. In fact, I believe Ramit says that budgeting is the worst word in the history of the world! Remind me to punch him in the face later for that, okay? Good, good. Here's a better sneak peek into it (click on link for full-page viewing):

I Will Teach You To Be Rich

So there you have it - one of my new (again) favorite books! It just hit Amazon last week, so it's hot of the press baby! And guess what? Your boy J. Money has 3 copies to give away! Yup, and all you have to do is leave a comment - that's it. Tell us what you're eating, what you're working on, or just tell us a joke :) Either way, leave it in the comments by this Friday (April 3rd) by 12 noon EST for your chance to win your very own FREE copy.

And as my brotha from another motha (Ramit) would say, "Getting started is more important than becoming an expert". Follow this 85% solution to your finances and it's smooth sailing ahead!

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*UPDATE: Giveaway now closed...Winners will be shown tomorrow at noon est :)

Labels: book reviews, giveaways

Yup, The Richest Man in Babylon now steals the trophy away from The Millionaire Next Door! haha...although I'd highly recommend both books as they really give you a wonderful perspective on life :)

What I liked most about The Richest Man in Babylon though, is that the whole thing is based on fables! Every chapter is a whole new short story that tells another aspect of managing money. It's freakin' great. Sometimes the chapters are connected, and others not, but it's seriously the best financial book for those with A.D.D.

And it fits wonderfully in your back pocket! haha....so if you take the metro/train every day like me, it's super easy to store and read on the go!

The entire book can be read in a few hours (it's only 140 pages long) and it discusses everything from saving 10% of your paychecks, to investing it wisely and knocking off all debt. The craziest thing of all is that it takes place thousands and thousands of years ago, yet the advice is STILL relevant in today's times! It really is a good read for anyone of us out there needing some more motivation - and even more so if if you're *just* getting into personal finance. It's a PERFECT book for recent grads and/or untrained adults :)

Here's a pretty cool quote that highlights its simple, yet effective, writing style:

"Wealth, like a tree, grows from a tiny seed. The first copper you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the sooner may you bask in contentment beneath its shade."

While I'd love to go on and on and break down all the chapters here for ya, I really don't wanna give it all away. Just know that it covers a handful of financial advice and portrays it in a most beautiful way. This def. helps it "stick" in your brain too! As well as speaketh like this to all ye friends and loved ones ;) Thy lover shall question your words unless thou hasth readeth thyselves! Long live storytelling.
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Other Book Reviews:
- The Millionaire Next Door
- The Automatic Millionaire

Labels: book reviews

BOOK: The Millionaire Next Door
AUTHOR: Thomas J. Stanley, William D. Danko
SEXINESS: 4 Thumbs ups! (toes count)

Tied for my all-time favorite financial book! Where as The Automatical Millionaire (the other favorite) shows you HOW to reach your goals, this book helps get your "financial mind" positioned right - and does so brilliantly!

There's one defining concept portrayed throughout:
Always live below your means.

You do this, no matter your age, salary, etc, and your wealth will grow exponentially - and so will your peace of mind :) That's not to say you can't be a millionaire AND have fancy things, of course, but just that these guys choose not to.

Even if you DO earn a crazy high income, it doesn't necessarily mean you'll be rich (aka have a high net worth). The same holds true with the highly educated:

"How can well-educated, high-income people be so naive about money? Because being a well-educated, hight-income earner does not automatically translate into financial independence. It takes planning and sacrificing"

Amen brother. If only they knew about our blogs! haha ... So who are these Pimps?

According to Stanley & Danko, the average millionaire is:

• 57 years old, Male, and married with 3 children. 70% of them earn 80% or more of their household income.
• Self-employed (2/3rds of them). 1 in 5 are retired.
• A homeowner. 97% of them own homes, which are valued around $320,000.
• First-generation affluent (80%) - meaning they are self-made millionaires, not because they inherited all their money.

And, on average, they:

• Invest nearly 20% of their household realized income EACH YEAR.
• Have total annual realized (taxable) incomes of $131,000, with average incomes at $247,000.
• Live well below their means, wear inexpensive suits and drive American-made cars.
• Have wives who are planners and meticulous budgeters. (they know what's up! Sexy all the way baby... i don't care what others say).
• They have a "go-to-hell fund" - basically, enough to quit working for 10+ years if they really wanted.
• And, are mostly tightwads! haha... hence, one of the main reasons they agreed to complete a long questionnaire for a few crispy dollar bills.

This is all broken down throughout the chapters, so if you get bored with one pile of stats, you can easily move on to others. They also categorize high earners into what they call PAWS and UAWS, and then compare the differences between them. PAWS are "Prodigious accumulator of wealth", and UAWS are "Under accumulator of wealth". You want to be a PAW ;)

In all honesty, reading this book has become the financial ying to my yang. It goes right up there with the purchase of our house and living off a budget - I love it! You really do get to know their way of life, and it really sticks.

The ONLY thing i'd like to see is an updated version of this bad boy. While i'm sure this "way of life" hasn't changed much over the years, i bet the stats sure have! A ton of stuff has happenend since this book published in 1996. (You hear that Stanley & Danko? If you do this for me, I promise you 1 (one) sale of this new book)

I totally recommend this book to anyone interested in furthering their financial education. A+ baby, all the way!

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* You can buy the book here: The Millionaire Next Door
* And you can check out other book reviews here: Book Reviews

Labels: book reviews, education, millionaire love

BOOK: A Million Bucks by 30
AUTHOR: Alan Corey
SEXINESS: 17 (that's a lot)

I think someone cloned me, and wrote a book! haha... well, in the writing style that is - I'm def. not as brave and/or close to reaching that $1Million mark! A very fun read though, nonetheless. I can say one thing, it def. won't be like any other financial books out there, that's for sure ;)

Remember how I posted about my millionaire to-do list earlier? Well, think of this book as the final product of that, but with a totally different approach to it. Along with a healthy mix of adventure, and college spirit!

That being said, I wouldn't say this is for everyone. While his stories and tips are pretty damn fascinating, it's definitely for a "younger" audience (think early 20's, 30's). I'm not sure the "mature" kind would allow for such humor and select curse words scattered about. But, then again, if you're even on my blog reading this, it might be exactly what you're looking for ;)

Here's an excerpt from one of his "extreme cheapskate strategies":

"Buy one pair of multipurpose shoes a year. Don't buy any others. If shoes make or break you with any business deal, date, or interview, believe me, unless it's a girl with a foot fetish, it isn't the shoes."

Haha...see, totally funny! AND budget conscious. Without going too much into it, here are four key ingredients which helped him along his journey:

1. He's frugal. And I'm not talking about a little here and there, i'm talking about hardcore frugalness. The king of Ramen, and the master of ghetto living - all in the name of saving $$$.
2. He does his research. This is probably key #1 to his accomplishments, he doesn't do anything without consuming all he can on the subject.
3. He buys real estate. Mainly to "flip" or to rent out as an investment. This is especially where #2 above comes in - if you know what you're doing, there's money to be made.
4. He's extremely outgoing. If there's anything this guy has that sets him apart from all other wannabe millionaires out there - this is it. It takes a LOT of guts to do *most* of the things he talks about in this book, and there's no way it can be done w/ out this trait. Did I mention he's a self-proclaimed "Reality Whore"?

To be honest, that's really the whole kit and caboodle. You mix that with some personal tips and a butt-load of crazy adventures, and you've got your self a nice little read here. And there's something to be said for the way he conveys his messages. He's actually a really intelligent guy (in case i've already scared you away):

"I like to think that making a million dollars is like losing fifty pounds: Both
provide new freedoms and options to the people who achieve these goals, but
neither of these objectives can be achieved overnight...Just like there is no
product that will help you lose twenty pounds in a week, the chances that you'll
make a ton of cash overnight are pretty slim (so to speak)."

He doesn't go too much into step by step processes such as The Automatic Milionaire, but it's definitely a great motivational read. And while I, personally, don't have the balls to follow through with such tenacity, i'd be lying if i said it didn't get me to revisit my game plan!

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* You can buy the book here: A Million Bucks by 30
* And you can check out other book reviews here: Book Reviews

Labels: book reviews, millionaire love

BOOK: The Automatic Millionaire
AUTHOR: David Bach
SEXINESS: To the max!

The fastest book i've ever read! And this is super impressive as a) i'm a sloooooooow reader, and b) it wasn't even a fiction book! haha... of course, i did just come back from a 4 hours plane trip :) But still, there was no way i'd finish it if it wasn't interesting in the least.

Was i impressed? Y-E-S. I give it an A+ overall! SUPER easy to read, SUPER easy to follow, and SUPER easy to act on. I'm a big fan of action over theory (most times), and the author listed simple step-by-step items to follow after each chapter. Which also makes it easy to put down, and pick up at any time. And unless you're already a millionaire, i'd recommend at least skimming it at the bookstore.

The general concept: Save at least 10% of all income for yourself, and automate EVERYTHING. he breaks it all down nicely, and even gives out the names and contact info of those he rates as pretty high.

According to Bach, there are only 3 things you REALLY need to do:

1. Decide to pay yourself first 10% of what you earn - We've all heard it, but not everyone follows it. Pick a % that works for you (he recommends at least 10%, but even 2% is a start), and let it build. automate it.
2. Make it automatic - Set up direct-deposits from your paycheck into your retirement fund. Automate cash xfers into your "rainy day fund" (3 months of expenses). Automate bill payments through your checking acct. Basically, handle all financial transactions automatically.
3. Buy a home and pay it off early - A MUST in his eyes. While this step is the hardest of the group, he's pretty adamant that if you rent you'll almost never become a millionaire. No matter your current situation, buying pays off in the long run. Once you own, use the "bi-monthly" payment plan to pay off the mortgage 7-10 years earlier.

There's a TON of other good information in the book, like how to get rid of credit cards faster, and finding your "latte factor" (daily expenditures that could easily cut in half), but I really enjoyed the stories on how people have actually followed this! These days, it's easy as pie to automate everything. As long as you have a steady stream of income, you're golden. Even if you don't, following the main rules will still guide you nicely.

To be honest, it's just nice reading something that is not only do-able, but extremely easy! And you know what? I actually believe i'm going to be a millionaire! Not 100% because of this book, although the motivation is killer, but because if you can learn how to save it's just a matter of time. It won't happen next week, or even 5 years from now, but I'll tell you one thing - when i'm leaning into the mid-life stage, you better believe i'm not gonna have a crisis!

The only thing i didn't like hearing was that "you don't need a budget". Psshhh, come again? I think all he's trying to do is to get you to focus on the 3 main points above, and basically forget all else you've tried & failed at. I see his point, but i'm not listening. Doesn't he know budgets are sexy!

At any rate, take what you will from all of this. Everyone's different, but i'm fairly confident you'll at least get one thing out of it. I personally put my stamp of approval on this bad boy, and about to pick up another copy for my bro. $4.15 used on Amazon?! Shoooooot....i'm keeping mine ;)

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* You can buy the book here: The Automatic Millionaire
* And you can check out other book reviews here: Book Reviews

Labels: book reviews, millionaire love, retirement, saving