4/08/2010

Review of Talking Money: Everything You Need to Know About Your Finances and Your Future (Hardcover)

When I found out that Robert Kiyosaki had good things to say about this author and this book I just had to get it. I didn't want to wait to buy the book so just downloaded the e-book to get started. This book is a winner.

I liked the section on buying cars. Other than Charles Givens, Chatsky is the only financial author that I know of who warns about dealers price (sucker stickers)vs the markup. This piece of information alone can save you thousands.

Also, like Givens, Chatsky recommends buying a 2 year old car vs a new one. The basis for this is that a new car will depreciate by 50% as soon as you drive it off the car lot. Buy your dream car, but 2 years old and put the saving in a good mutual fund.

The money market fund advice was also interesting. Chatsky offers a website to compare rates and shop for the best funds. This makes more sense than depending on your broker.

The investment advice is also right on and one of the only financial authors to explain the best time to be in stocks and bonds. A nice departure from the usual "buy and hold" or "dollar cost averaging" theory.

Chatsky also discusses "power buying" or how to save a bundle on almost everything you'll buy.

The credit card information was pretty basic but informative.

Overall, Talking Money is a winner and will offer you some new insights on how you spend your money and how to invest.

Good, solid advice that really works. I highly recommend this book.



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