Book Review: The smart cookies' Guide to Making More Dough

Student loans, credit cards, rent, bills, gas, new car, new apartment, 401k, all of these money issues can get a bit overwhelming, especially when you’re not prepared to take them head on. Luckily, a group of women, who refer to themselves as The smart cookies, have composed and shared The smart cookies’ Guide to Making More Dough to equip other women with the knowledge and the confidence to take control of their finances.

They start with the challenge of combating the taboo surrounding money. One cannot get to the root of the problem if it is not addressed directly. The smart cookies encourage the reader to have open and honest conversations about her finances with a select few who she truly trusts. What’s important here is choosing those you share a mutually trusting relationship with and those who will make as serious a commitment to their own finances as well as yours.

The recovery process starts with tracking every penny spent to see just where your money is going. Seeing the entire picture really puts everything into perspective. They also tackle the issue of getting to the root of why you spend money. Emotional spending, which most women can admit to being guilty of, is detrimental to financial well being.

In a friendly and encouraging tone, The smart cookies’ Guide empowers the reader to believe that eliminating her debt and taking steps further to improve her financial situation is very doable. They convey the message that it is not about giving things up and sacrificing everything you love to live a frugal life. It is, however, about making wiser choices, including shopping with sales and alternatives to outings. The “I rather” factor is rather intriguing. Friendly reminders like “I rather be in Paris in 90 days that have this cup of coffee today” help one accomplish long term goals as opposed to satisfying compulsive desires. What’s most beautiful about The smart cookies’ testimonials is their genuine support for each other’s progress.

In addition to helping the reader get control of her present finances they share ways to increase her finances by knowing her worth on her job and pursuing a career path that she love as well as investment strategies. In the book they also share a workbook for any reader to start her own money group to create a support team to reach all of her financial goals.

For Extra Credit (literally)

Other recommended readings include Glinda Bridgeforth’s Girl, Get Your Money Straight and Girl Make Your Money Grow, and Suze Orman’s Women and Money, which reinforce some of the same points but may also add some additional knowledge to your mental database.

'Tis the season to be... Broke?!: 6 Smart Saving Tips for the Holiday Season

Black Friday, the busiest shopping day of the season, came and went. Many people brag about how much money they saved in exchange for waking up early and waiting in the cold on long lines. But what’s the point of “saving” all that money on Black Friday, just to go into debt a month later shopping for Christmas gifts?

I’m sure we all don’t mean to spend as much as we do, but this year let’s try to turn intention into action. Here are 6 simple tips on how to make this Christmas more jolly and less stressful on you and your bank account.

1. Try to limit your gift giving to family and closest friends. If you’re a gift-giver like me it might be tough to limit the amount of people you shop for, but you should use the recession to your advantage. It won’t be around for long! Categorize your gift giving to those people who absolutely desire store bought gifts (ie: toys for kids), those who can appreciate homemade gifts, and those who will cherish the thoughtful nature of a personalized card.

2. Make a shopping list and don’t depart from it! Identifying what you’re going to buy ahead of time (ideally before you enter the store) saves the last-minute pressure of buying because you need “something” to give.

3. Once you have a list and ideal budget, make a commitment to it! There’s no excuse for not taking a couple of minutes to sit down with pen and paper and estimating the amount of money you feel comfortable spending this holiday season. Count on the money you already make and have in your account, instead of any bonuses or credit limit you’re hoping to increase.


4. Carry cash instead of debit or credit cards. It’s a sure way to keep from spending more than what you’ve allotted for your Christmas budget. If you have a hard time disciplining yourself, this is a great way to make sure you don’t have access to money you shouldn’t be spending. Some people believe that psychologically, the plastic “tricks us into forgetting we are deducting money from our account,” so this year use paper instead of plastic.

5. Do not open store cards. According to Accion USA, “Many people find that their credit score goes down in January, and the dip in the score is usually due to two reasons:
1. High balances on their credit cards (from used credit and unpaid balances)
2. The amount of inquiries in their reports is relatively high (don’t be deceived- 10% off your first purchase is not worth the drop in your credit score when opening several new cards in a short period of time)."

6. Remember, Christmas is just one day- Is it financially sound to go into the New Year in debt over gifts? Can some of those on your “store bought” list wait 2 days after Christmas to get their gifts? If so, why don’t you wait to catch those after-Christmas sales? Think about the bigger picture instead of whoever might be upset at you and “de-friend” you on FaceBook because you sent them an e-card instead of the generic soap and lotion set you usually send them. Focus on beginning 2010 in good financial standing, let positive spending habits spill over into the New Year.

To a happy and financially healthy holiday season,

Her Journey Team

Tracey Calvo Clarke, 24, enjoys stumbling upon great writing, food, and travel deals. Her ideal job gives her the freedom to write about travel experiences, personal enhacement and entertainment events. She has been a member of Her Journey's Support Team for about 6 months and looks forward to seeing what's in store for the magazine