Under the Mattress

Alright – the moment you all (well, at least me) have been waiting for – our review of Farnoosh Torabi’s book “You’re So Money” (Live Rich, Even When You’re Not)!

If you want to pick up You’re So Money: Live Rich, Even When You’re Not from Amazon.com, check it out!

What They Say (the back of the book): “Finally a savvy, realistic finance book for those of us who love our Starbucks mocha lattes and Razr cell phone but don’t want our Jimmy Choo shoes or Bose headphones buried under a pile of burgeoning debt. Twenty-something financial reporter Farnoosh Torabi tells you that you can satisfy your sophiscated tastes and achieve financial bliss.

The Key: Prioritizing your expenses according to what you want to most – splurging when you can and saving on other things. From sensible grocery shopping (yes, you can have your organic yogurt and eat it, too!) to cyberbanking, empower yourself to live a guilt-free Gucci and gadget-clad good life without sacrificing financial security”

Does the book deliver on it’s promise? We give it four stars out of five. The book does offer tips on getting you to your financial need-wants (as the book calls them) like an HDTV or an Audi, but the solution is nothing earth-shattering – it’s just cutting back on other things. This is a good book people need, because often, instead of cutting back, people end up using more and more credit and bringing on more debt.

Who the Book is For: This book is a great primer for those just getting their feet wet (college students, recent grads, those just starting out on their own). It covers quite a bit of topics in a real, humorous, and informative way.  “You’re So Money” is a great introduction to all things money. The book covers things like purchasing cell phones, buying cars and houses, 401ks and IRAs. Basically – if you don’t know anything about finance, money, budgeting, or you’re just not comfortable when things start getting “mathy” or “technical,” you should check this book out.

Who is the book not for? The book covers a lot of topics lightly, so anyone looking for deep technical information, deep explanations, or information that isn’t available to everyone should probably try another source. The book is also light-hearted and modern, and is definitely geared towards a younger audience. (References to texting, iPods, etc., might throw off an older generation).

Whatcha might not know: The book also includes a forward and investing tips (part of a chapter) from Jim Cramer, an investing guru, host of CNBC’s “Mad Money,” and a co-founder of thestreet.com.

What’s In the Book?
Here are the chapter headings:
1. Life is Good
2. No More Debt Drama
3. Banking in Bed and Scoring
4. Rich People Dress Good
5. Accessorize Right
6. Lucky Money
7. Adults Only!
8. Homeward Bound
9. Cruise Control
10. Social Cents
11. Because Life Happens
12. Getting Covered
13. Just Say No!
14. Money is Everywhere

Would We Buy the Book? We did! Actually, we own the book, but we ‘won’ it on a contest on Geezeo, our online budgeting site (more on that later).

Basically… this is a great introduction to the financial world for those with little or no experience. We enjoyed the book. It’s written towards a college-age generation, and the lessons it teaches ring true. Check this book out if you need some basic information to get you started, and good specific advice on transactions that might be coming your way in the future (cell phones, cars, apartments…) grab a copy!

If you want to pick up You’re So Money: Live Rich, Even When You’re Not from Amazon.com, check it out!

We’re working on our next review…. want a hint? Let’s just say it’s about… Babylon…