On My Own Two Feet: A Modern Girl's Guide to Personal Finance

As a financial professional, I have generally been critical of personal finance authors because they struggle to condense their vast knowledge into a book that is readable for the average person. Thakor and Kedar succeed where others have failed. In this book, they manage to cover all of the basic principles of personal finance (savings, credit, insurance, budgeting, investing, retirement, major purchases, taxes and money in relationships) in less than 200 pages. The book flows more like a conversation with a friend than a textbook, which made it an enjoyable and quick read. Also, I was very impressed with the quality of the advice given in this book. The authors stick to tried-and-true principles that are both effective and simple. I highly recommend this book.

I am embarrased to say this, but when I first saw the book I didn't think I needed it. I graduated from college, had some savings in the bank, and was married. I figured that I'd always have enough money, and that I could rely on my husband's financial expertise. Um, no. Not to sound preachy, but as a woman I need to be smarter than that. I have to plan better and prepare to always take care of myself. Maybe the best part about this book, aside from the advice, is that it's fun and just a great, easy read. The authors don't preach and you know going in that they are just like you. They don't make you feel dumb and the advice is simple and easy to follow. Thankfully I didn't pass the book up. I would've regretted it.

For some time now I have been struck by the amazing lack of financial acumen that my generation has been blessed with. (I count myself in that category, since despite being educated enough to know better I have made a couple of my own blunders). A few years ago I started looking for books to educate my then pre-teen niece to start her financial life on the right foot. We started with "The Millionaire Next Door", then tried "Millionaire Women Next Door". While she enjoyed both books, they were not written as the practical "how to" guides that I thought someone her age should be looking for. In the meantime, I have grown to know and manage a cadre of women between the ages of 18 and 30, and increasingly realize the need for common sense financial guides to help smart, motivated women make good decisions. I was told about this book - On My Own Two Feet - and it definitely hits the jackpot. It covers the major topics that need to be addressed (savings, credit cards, insurance), but comes off as fun and collaborative. Financial goals are set that seem realistic and reasonable, not extreme and out of reach. If a young woman follows the advice in this book, she will be in a position to manage her finances for life. At a minimum, she will ask the right questions of herself and her partner when making major decisions. I have bought several copies of the book as birthday/graduation presents and am eager to see their response. I definitely recommend this book.

I was lucky enough to meet the authors of this book, Manisha Thakor and Sharon Kedar at a recent retreat at the Woodhull Institute for Ethical Leadership. I was struck by three things: 1) their passion to educate young women about personal finances, 2) their snazzy dress sense, and 3) the fact that THESE WOMEN KNOW THEIR STUFF! Both are amazingly successful in the male-dominated world world of finance, and gave me the instant feeling that I could navigate it too, all I needed was some simple basics. Manisha and Sharon are able to look at money from the perspective of MY generation, the 18-35 year-olds who don't stay in one job forever, and will enter the work force with student loans, MySpace accounts, and only a brief window to start retirement planning. "On My Own Two Feet" handles the current reality of money and finance with pizzazz and spice, and a feeling of support from the "Divas of Finance". If you want to feel more financially secure, and do it soon, pick up this book now! Then send it to your girlfriends, cousins, sisters, mothers...and maybe even a man or two. After all, everyone needs some money help, sometimes!

On My Own Two Feet is simply the best personal finance book! I have tried to read a finance book cover to cover and could not get through one until this incredible book. The information is clearly presented, and what sets it apart, is the advice of Kedar and Thakor is highly actionable. Since reading the book I have made several changes and already feel better about my financial "health."