Your Money and Your Man: How You and Prince Charming Can Spend Well and Live Rich

I sort of have a hobby of reading personal finance books and I have read plenty of them. There's even one out there on zen and personal finance. But Michelle's advice, while it is basic, is what a lot of people need. She is practical and aware of the financial missteps that all too many people make, especially those young and just starting out. No, this isn't Ben Graham's book or anything written by or about Warren Buffett. What it is is good, basic advice on money management so people can eventually have the funds to invest in the stock market and maybe then start reading Ben Graham. I gave this book to my daughter who is not very sensible yet about money, and Michelle's clear and down to earth way of speaking seemed to finally get through to her, where I had been unsuccessful.

Michelle Singletary is a columnist for The Washington Post. She started "The Color of Money" column in March 1997. In 2003, she published her first book, 7 Money Mantras For A Richer Life: How To Live Well With The Money You Have. The paperback of the book was retitled, Spend Well, Live Rich. Her second book, Your Money and Your Man: How You and Prince Charming Can Spend Well and Live Rich, was released Jan. 31, 2006, both published by Random House. As always, I found Michelle Singletary's writing style pleasant to read and easy to understand. If the reader has little or no prior knowledge of finances, especially with regards to marriage, than this might be a good first start. However, if the reader already has a library of basic financial books, this one is a little redundant. In this her third book, she divided her advice into sections that help at different stages: dating, marriage, when children arrive, divorce)--and learning to talk about money with someone you intend to marry--and finding your "money compatibility." Fighting over money is still the number one problem in most marriages. I did find her decade-by-decade list of money milestones to be very interesting and useful. Be aware that this book is filled with Bible quotes and is very conservative. For instance, Singletary suggests that having separate bank accounts is leaving a way out of marriage--instead of simply stating the pros and cons of separate vs. combined incomes. This is a wide-ranging book, covering everything from dating, planning the wedding, marriage, children, straight through to divorce or separation. Unfortunately, there was nothing in this book that I hadn't read in several other books, with the exception of the money milestones, which while not new, were put together in an interesting way. In conclusion, if you are looking for a basic book of finances for those with a conservative, religious point-of-view who are considering or newly married, this book might be helpful. If, however, you have already read several basic finance books, this book might not have much that is new. Armchair Interview says: If you've read no other book about money and relationships, this has good info for you.

Here is a link to Michelle talking about this book on the Diane Rehm show on NPR for those who would like to know more. I enjoyed her common sense, funny, yet no-nonsense attitude. http://www.wamu.org/programs/dr/06/03/02.php#10190

Oh my goodness did the reader posting on February 27, 2006 even read the book. Michelle doesn't just say put your money in a regular savings accounts. She in fact lists several options to put your 3 to 6 months living expenses. The truth is she lists savings accounts, money market accounts, money market mutual funds AND a very USEFUL CD laddering technique. Shame on that reader for misleading people who I think will find this book delightful. And I might add not all money market accounts pay any more than a regular savings accounts.Have you heard this advice before? Sure. Have you listened? Probably not. But like in her column for the Washington Post, Michelle delivers the advice in a way that will actually make you read this personal finance book. It's all in the style. I mean what on earth is new anyway? Michelle has style. I think couples -- men and women -- at any stage of their relationship will find this book fun, useful and jammed full of great, loving wisdom. You Rock Michelle!!!