Well, it is time to write another book review. Since I just finished reading On My Own Two Feet by Manisha Thakor and Sharon Kedar, it only make sense that this book is the subject of my review. Yes, I am aware that it was written for the fairer sex, but I wanted to take a quick look into how women think about finance. What better way than to read a book written by females for females?

This book is a quick, smart read and that is important because it is geared towards women with careers and social lives. It gives them a fast informative look at how to make their money work best for them. The message is super clear and to the point. Amazingly the duo covers all the basics of saving, investing, retiring, understanding and using credit wisely, budgeting, and still find room to give a life strategy in less than 200 pages. I like the chapter on prioritizing your financial plan, where they lay out their seven step process to reaching your financial goals. Their seven steps are all great gems that are cut to perfection. I know I am giving this book a lot of praise, but it is really a good book.

On My Own Two Feet is another 5 star financial book in my opinion. It is a must read for ever one, not just women. Get it at Amazon

For some reason families do not like to talk to each other about finances. Your spouse should be your right hand, be able to handle all that needs handling, and should know as much as you about the families finances. Just think of some of the problems that could be avoided if your spouse knew exactly what financial problems your family was facing. According to a survey by Fidelity Investments, 60% of married couples between the ages of 45 and 70 say newly weds should discuss daily financial decisions.

Money issues are a big problem between couples, it cause arguments and in some cases divorce. I have never been married, so I cannot even begin to talk about why this is a fact. What I can discuss is the benefits of avoiding these pitfalls and why it is important to teach your spouse how to manage your personal finances.

I realize that not all relationships are created equal. One person might have more debt than the other, one might have a large amount, both might have close to the same financial situation, or a million other possibilities. No matter the situation, being on the same page with your partner is crucial when it comes to money matters. Understanding how you each hand money will help with future financial planning such as budgets, shopping, and saving. If you know your partner has a weakness when it comes to shoes or an affinity for electronics then that can be worked into your budget.

When times get hard and cut backs have to be made, your spouse should know and understand why this is happening. If you are the only one making these cuts and your spouse is still spending as if nothing has changed then your efforts are futile. When It’s time for retirement, if you and your partner do not have a solid plan your retirement could be put on hold and this could cause unwanted problems. Knowing each others debt and devising a plan to pay it off should be a major part of your future financial planning.

Many couples get in arguments and break up every year because of the lack of communication about money. If you do not share and teach each other about finances then you can not help each other when the time comes. According to Smartmoney.com debt was the #1 reason couples fight when it came to finance. Fact is, this can all be avoided and considering whats at stake should be enough for you to take action.

It is a part of our genetic make-up to feel a sense of urgency when we get motivated. When most people realize the need to do something to fix their financial situation, they usually want to take action immediately. Since most of us are not educated about managing personal finance, we seek to get educated when the motivation hits us. They usually head to Google, the book store or find a financial manager if we can still afford one. It does not take long for motivation to fade and by the time they finish reading the book and doing research, they tend to be less motivate than when they started. I have put together a small quick start list to get you moving when your motivation is peaking.

1. Go and get a book on managing personal finance. I was not saying not to read or do research. This is just a list of things you can do to get the ball rolling now, you will need to learn as much as you can about managing your personal finance and as the saying goes… education is fundamental.
2. Gather all the information you can. How much debt you have, your monthly and yearly income, investments, bills, credit debts, Church tides and offerings and especially the money you spend on miscellaneous things. List them by category and be honest. You will only be cheating yourself.
3. Make a list of everything you buy for at least a month (three months is better). It will surprise you what you spend you hard earned money on. This will confirm where every cent of your money goes and where you can start to cut back.
4. Start saving now. Make positive that you put at least %10 of your income in a saving account of some kind. This might seems impossible, but think of the alternative. Not having anything saved at all leaves you wide open to falling right back down. If you get sick, you will have something to fall back on until you are well. Live for today an plan for the future!
5. Saving sooner rather than later is extremely important. Say you just had a child or are planning on having one soon; you’ll want to start putting money away for their education as soon as possible. Open an account like an RESP (a Canadian tax-free savings account that can be used to contribute funds for a child’s post-secondary education) as soon as possible – you’ll definitely thank yourself later.

Get started with this quick list, while you read and do research to gain knowledge. Learning to Manage personal finance will not happen over night. Stay consistent and apply what you learn when it fits your circumstances. Like I have said before, the best tip I can give is to stick with it and it will pay off.

If you own, drive or your just thinking about buying a car, the price of gas Should be major concern. Auto makers are putting up some impressive numbers in terms of MPG to help the environment, but mostly to help sales. New cars like the Honda Civic Hybrid are boasting MPG of 45 or more, but this is almost nothing compared to what some car owners are getting out of there tanks.

What if I told you that on one gallon of gas you can drive up to 200 miles. Yes that’s 200 miles. Well, I can’t really make that claim, but Wayne Gerdes the king of “Hypermiling” can.  Gerdes drove 2,254 miles on less than 14 gallons of gas, and this was in 2006.  Since then Hypermiling has become some what of an art form that is quickly spreading. The Oxford dictionary has even selected the word as the best new word for 2008.  Gerdes website clean MPG is a Mecca of information about Hypermiling techniques. fuel efficient autos and a forum for hypermilers to congregate. You can even learn the techniques they are using to achieve these incredible numbers.

There are even tools to help you get the most out of your tank like the Scangauge 2, it monitors most of your cars data, like speed, fuel use, fuel till tank is empty and more. Having all this information can help you to refine your technique and perfect your art.

You can easily adopt some of these skills to your everyday drive and save some money while you are at it. The name might sound a little crazy, but it is really nothing more than learning to be a better driver. In reality, it can be a great big win for you, learn to be a better driver, save fuel and money and help save the environment.