I love reading and over the last couple years, some have been personal finance books. I thought it would be helpful to include some of my thoughts on personal finance books out there. I’m going to start off this new series with Get Financially Naked.
- Full Title: Get Financially Naked: How to Talk Money with Your Honey
- Author(s): Manisha Thakor and Sharon Kedar
- Publisher: Adams Media
- Price: $12.95
I’m going to present a brief review of some of the chapters so you can see if this book would be a good fit for you in your situation.
Get Financially Naked- An Overview
Thakor and Kedar introduce the book by sharing their goal of empowering readers to be actively involved with their relationships and finances. They explain the process of doing this and how the book is organized.
- Own Your Finances, Own Your Life
- Talking Money with Your Honey
- Time to Get Tactical
Each section has it’s own focus and it’s a good framework to guide readers to getting a better handle on their finances.
Own Your Finances, Own Your Life
I think sharing what other think financial empowerment means is a great way to open this section. Kedar and Thakor have a visualization exercise to help readers define their goals. They also give the link for readers to download this worksheet and others from the book.
Besides having the reader participate by having the book become a personal guide with worksheets, Kedar and Thakor share their own money struggles, triumphs, and fears.
Talking Money with Your Honey
Money can cause a huge strain on a relationship, so Kedar and Thakor start off with some questions and scenarios to assist you to determine if someone is living beyond their means. There is a big difference from someone who is hit by hard economic times and someone who needs help with managing their money.
This section has quizzes and worksheets that you and your significant other can review and discuss. It also address some major life and financial events like:
- Buying a House (or Renting)
- Owning a Car
- Retirement Planning
- Having Kids
- Extended Family Obligations
Time to Get Tactical
This section was definitely my favorite part. Kedar and Thakor manage to give practical and doable tips on what to do with your money. They cover a range of how and whys of having:
- Emergency Funds Ready
- Savings for Big-Ticket Items
- Retirement Accounts
They end the book with a brief guide on sustaining your financial system. the appendix with frequently asked questions is a wonderful read in itself.
My overall impression of this book is positive. It’s a little book packed with a lot of good information. Manisha Thakor and Sharon Kedar have done a great job creating a practical guide for couples looking to manage their finances. It offers readers worksheets and scripts to help you get started with the difficult conversations on finances.