Get Financially Naked Review: Talking About The Biggest Taboo: Money!
The most taboo topic of this century will probably be money. You probably know most of what needs to known about your family or your best friends, but do you know about how much they make, how much they have in debt or how much they spend each month? This is so taboo that even couples are reluctant to “open their books” to their better half.
I have recently received a copy of Get Financially Naked by Manisha Thakor and Sharon Kedar. Since I have enjoyed this book and I truly believe that any couple should team-up their personal finance, I have decided to review the book and giveaway a free copy (see below for more details).
What is “Get Financially Naked” About?
This book has been written mainly for women that are looking to talk about debt, savings and how to manage money with their spouse. While the book is primarily written towards women, most advices found in this book can be applied by men too.
This is a perfect start for people who are not too sure about how to manage money in a couple and what to say to make sure that the discussion doesn’t turn sour.
What I Really Liked About This Book:
Throughout the whole book, you have access to several exercises (including visualization, questions and a question grid). I like those kinds of books because it gives you the opportunity to think about what you just read and start practicing what you just have learned. On top of that, you can write in the book so you are sure to not lose your notes when you are done reading.
Before thinking of discussing money with someone else, I think it is a great idea to really determine your relationship with money. The first part of the book is dedicated to exercises that will help you understand how you see your own personal finances.
When you know what you are talking about, the book concentrate on communicating with your spouse about money. It really helps open up the discussion about money and includes answers to question such as “when is it okay to bring up money with my mate?” and “What if my partner is not receptive?”.
Once you and your spouse have agreed, the book leads you to a small guide on how to manage your money. It explains 5 steps to manage your money correctly:
#1 How much home can we really afford
#2 How much car can we comfortably afford?
#3 Will we ever be able to retire?
#4 The stork has arrived, are we financially prepared?
#5 What financial obligations do we have to all our loved ones?
While I thoroughly enjoyed reading this book and I find it very practical and useful, I would have liked to see more information about savings and investing money. Overall, this is a great book for those who are not sure about their relationship with money and how to discuss it with their spouse.
Now the Giveaway!
Please add your comment if you want to win a free copy of Get Financially Naked. I would like to know if you are talking money with your spouse?
The winner will be announced next week.