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Lunch » Tags » Books » Reviews » Enjoy Your Money!: How to Make It, Save It, Invest It and Give It » User review

This book is a goldmine of information

  • Dec 11, 2010

There are a seemingly infinite number of personal finance books available in bookstores. This one is intended for people in their teens and twenties whose financial plans start and end with "become a millionaire."

Akashi, Antonio, James and Amy are your average high school students in detention, again. They meet with Mrs. Kramer, an eccentric, elderly teacher at the school, who teaches a course on money management. Every Saturday, they meet at a local fast food joint, where Mrs. Kramer takes the four into the world of money.

Have an emergency fund, equivalent to three or four months salary, in a savings account or money market account, accessible if needed. Pay off your debt as soon as possible, whether it is credit card debt, student loans or car payments. When you get some money in your pocket, it is tempting to buy a big-screen TV or fancy new clothes. Don’t do it; live beneath your means; cut your expenses as much as possible. Is it more important that others think you are a rich person, or that you actually are a rich person?

It’s also tempting to buy and sell stocks on a short-term basis, looking for a quick profit. Again, don’t do it. Every time you buy or sell stock, your stockbroker makes money, not you. Research good quality, no fee mutual funds (especially index funds) that you can invest in for the long haul. Just because a fund had a good year last year, it does not mean they will have a good year this year.

A popular way to make money is by buying houses and "flipping" them. If that is not for you, and if you know the right people, think about "flipping" cars or motorcycles. People will always need decent, reliable transportation. The book also looks at buying a car (consult Consumer Reports and choose quality over flashy), insurance, knowing your way around a supermarket, investing in real estate, getting a job and keeping it.

This book is a goldmine of information. Written as a dialogue, this is very easy to follow for the person who does not want to read another "money literacy" book. This is highly recommended for every teenager and twentysomething who think that a million dollars will suddenly show up in their mailbox.

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December 12, 2010
I think this book could be good for everyone especially in these times. I never thought about "flipping" cars or motorcycles, I may have to tell my mechanic friend about that idea. I also like how it's more than just a money guide but, a kind of life guide. Wish I had had this when I was younger ;p I've added it to my DIY Community!
More Enjoy Your Money!: How to Make... reviews
review by . August 15, 2009
I don't usually read books about money, since I find the subject boring and the advice usually doesn't work or fit my philosophy of life. I was attracted to this book by its exceptionally good reviews (and because the author sent me a free copy). I can honestly say it is the best information and advice I have ever seen in a book about money. It was written exactly for people like me, who don't make money the purpose of living but who don't want to die poor either.    Miller clearly …
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Paul Lappen ()
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I am in my early 50s, single and live in Connecticut. I am a lifelong very, very avid reader and am a freelance book reviewer with my ownblog (http://www.deadtreesreview.blogspot.com). Please visit. It … more
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Had I read this book in my 20's, I'd be financially independent today. It's a remarkable blend of fabulous research with clear and lively writing. You'd pay an expert quite a sum for this caliber of counsel. That's why I say that the best investment you make this year just might be this book. Your second best investment will be the copies you buy for your children. --Dr. Dwight "Ike" Reighard, former Executive Vice President and Chief People Officer, HomeBanc - One of Fortune's 100 Best Places to Work, four years in a row

As a practicing CPA and financial counselor for the past 35 years, I've read scores of books and periodicals on personal finance. Just when you think you've heard it all, something like this comes along. It's rare and refreshing to find a book so enjoyable, so accurate, and so life-changing. I'm purchasing hundreds of copies to give away to graduating seniors. --Larry Winter, Winter & Scoggins CPA's; Certified Valuation Analyst, Certified Fraud Examiner, Personal Financial Planning Specialist
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ISBN-10: 098187567X
ISBN-13: 978-0981875675
Author: J. Steve Miller
Genre: Business & Investing
Publisher: Wisdom Creek Press
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