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Money matters, other books for young women?

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Money matters, other books for young women?

Postby Paco » Mon Mar 17, 2008 8:22 am

A friend of mine is gravely ill, and she wants to pick up some books for her 15ish daughter for her to learn about money, investments, wise choices etc.... Anyone know of anything that might help??

Any other books that might help a motherless teen girl??
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Postby Bwis53 » Mon Mar 17, 2008 8:59 am

I liked Sylvia Porter, when I was younger.

Now I like Suzie Orman.

Five Rules About Money

or

The Money Book for the Young, Fabulous & Broke

are good.

My son liked Rich Dad, Poor Dad.
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Postby tibor » Mon Mar 17, 2008 9:28 am

IMO Orman gives some really bad advice. Some of it is good, but some of it is just awful. Like Jim Cramer, a lot of her schtik is building a personality instead of providing wise advice.

The Motley Fool is very solid when it comes to personal finance - I haven't read "The Motley Fool Personal Finance Workbook" but if I were in your situation that's the first book I would consider.
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Postby northwoods_babe » Mon Mar 17, 2008 12:16 pm

My mom died after an illness when I was a few years younger than this girl. I remember getting books from caring friends and relatives after her death. Honestly, though, these books just reminded me of what had been taken from me and what made me different from other young people and it was a while before I opened them or started taking their advice seriously. But I still have a couple of them on my bookshelves today.

Probably one of the most helpful for me was Social Savvy by Judith Re. A lot of it is etiquette for certain social situations, but there are chapters that cover how to deal with different types of people, money, dating and that sort of thing. Teenagers think etiquette is an old-fashioned concept. But you're not meant to use it as a rule book. I think the point of it is more to show a young person what is expected out in the real world and how others might view you for your actions (or inactions). The sort of thing mom would teach you as you're getting older to prepare you for leaving home.

Hope Edelman's Motherless Daughters is a beautifully written book and is commonly recommended for young women in the same situation. For me, it was like rubbing salt on the wound and I still have a hard time reading it. I mention it because if her daughter has a strong sense of who she is, then she may take some comfort in reading this book without feeling like she is doing something wrong if she deals with things differently.

I feel for your friend and her daughter. It's a painful road ahead, but it does, very slowly, get easier as time progresses.

It's wonderful that your friend wants to be honest with her daughter about the seriousness of her illness. It's a brave and very selfless thing to do. In order to try and protect me, my family never prepared me for the inevitable and I think that caused a lot of problems later on.
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Postby DedeTate » Mon Mar 17, 2008 12:45 pm

A few months back I read On My Own Two Feet: A Modern Girl's Guide to Personal Finance. It covers everything from budgets to investments to major purchases (home/car). Also, there's a pretty good discussion on retirement. One of the major pluses about this is that the authors are running a website, http://www.onmyowntwofeet.com, where they offer updates and answer questions.
I would definitely recommend this!
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Postby Paco » Sat Mar 22, 2008 11:11 am

Thanks from me and her:

Wow that is a wealth of information you brought here... Thank you so much for it and please thank your friends for their imput too... I will be sure to check out as many of these books as I can do'

Again thank you
Lucille
Paco
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