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Nice Girls Don't Get Rich: 75 Avoidable Mistakes Women Make with Money

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From the author of the bestselling Nice Girls Don't Get the Corner Office comes an examination of 75 avoidable mistakes women make with money.


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From the author of the bestselling Nice Girls Don't Get the Corner Office comes an examination of 75 avoidable mistakes women make with money.

30 review for Nice Girls Don't Get Rich: 75 Avoidable Mistakes Women Make with Money

  1. 5 out of 5

    Gwen

    I'm not sure who this book's intended audience is. Maybe women of a certain age and of an upper middle-class background who are recently divorced or widowed, and are just now having to learn about how to manage money? The expectation throughout is that there is money, including inheritances, which seems odd today—11 years after the book was published, after a global recession, after the hollowing of the middle class, when the stock market no longer has historical returns of 10.4 percent annually I'm not sure who this book's intended audience is. Maybe women of a certain age and of an upper middle-class background who are recently divorced or widowed, and are just now having to learn about how to manage money? The expectation throughout is that there is money, including inheritances, which seems odd today—11 years after the book was published, after a global recession, after the hollowing of the middle class, when the stock market no longer has historical returns of 10.4 percent annually, and after the growth of the "sandwich generation," squeezed at both ends from rising tuition costs for their children and rising healthcare costs for their parents. She expects that if we're not already contributing the maximum to our 401(k)s, it's because we don't know that we should—not that we don't have the $18,000 just floating around and waiting to be put to better use in retirement savings. Additionally, this book emphasizes the cult of homeownership and scaling the property ladder (understandable, given that this book was published in 2005 before the housing bubble burst). For some, buying a home can be the answer, but homeownership hasn't proven to be the solution for everyone, especially now that houses are becoming increasingly out of reach for all but the wealthiest of people. Frankel's work also entrenches gender norms, presuming that every woman is going to be a wife and/or a mother. That every woman "dream[s] of our first home as being the one into which our husbands will carry us over the threshold" (loc. 2119). That we must be concerned with "the male ego...a fragile thing" (loc. 999) that must be preserved. But beyond this dated narrative, the advice seems...off. Frankel explains budgeting—presumably because her intended reader doesn't know how—but later blithely states that 401(k) contributions are protected by ERISA laws, without explaining what, exactly, those laws are and why we should care. She also gives advice similar to what I read and hated in The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life: monetizing hobbies and starting side gigs without any serious guidance on how to do so. She flippantly states, "If you have a message, consider writing books or making documentaries or producing shows/films that have meaning—and turn a profit at the bookstore or the box office" (loc. 2455). Sure, like it's really that simple... Frankel, understandably, emphasizes her other book (which I actually enjoyed) but the constant references to that book got tedious. There's some good advice in here, especially about maximizing employer-provided perks (assuming you get them), but if you're looking for a basic introduction to figuring out how to plan your finances, All Your Worth: The Ultimate Lifetime Money Plan and The Behavior Gap cover the information in more depth and understanding of broader economics.

  2. 5 out of 5

    Vonetta

    This book changed my life. I couldn't put it down. I'm the kind of person who thinks that thinking like a man is beneath me, but I guess it makes sense with regards to money. It made me think about the real reasons why I spend (elliciting some self-induced Dr. Phil moments), but it has inspired me to be more cautious about how I spend. I mean, I can't even walk into a store without experiencing cognitive dissonance or thinking about the condo that I so desperately want to purchase in the next 7 This book changed my life. I couldn't put it down. I'm the kind of person who thinks that thinking like a man is beneath me, but I guess it makes sense with regards to money. It made me think about the real reasons why I spend (elliciting some self-induced Dr. Phil moments), but it has inspired me to be more cautious about how I spend. I mean, I can't even walk into a store without experiencing cognitive dissonance or thinking about the condo that I so desperately want to purchase in the next 7 years. Total priority shift.

  3. 5 out of 5

    Joanna Vaught

    60 of these 75 mistakes are so obvious that, frankly, if women are really making these mistakes on a regular basis, they shouldn't even be allowed to have money. i wanted a book that told me practical ways to invest and save, not bullshit advice like: "stop shopping!" and "don't give money away!"

  4. 5 out of 5

    Evelyn

    While there are many great tips in this book, I realized as I read that I don't actually want to be the kind of rich that Lois Frankel talks about. She cautions readers to only lend money to friends and family that we know will repay it. She also reminds us to charge our friends and family members for our services. My friends and family members make my life rich, and that means much more to me than the number at the bottom of a balance sheet. The first chapter, titled Women and Wealth is a very g While there are many great tips in this book, I realized as I read that I don't actually want to be the kind of rich that Lois Frankel talks about. She cautions readers to only lend money to friends and family that we know will repay it. She also reminds us to charge our friends and family members for our services. My friends and family members make my life rich, and that means much more to me than the number at the bottom of a balance sheet. The first chapter, titled Women and Wealth is a very good read. Shortly after finishing this part, I had a money conversation with a man that illustrated perfectly the author's observations about how differently women (or at least I) think about money than men (or at least the man I was having the conversation with). It was uncanny.

  5. 5 out of 5

    Tejumade

    This is an interesting book, with an interesting title. But it seem it's just reminding me of everything I already know. I like the title though, so I put the book in a conspicous place on my Book-shelf- seeing the title everyday put me in check from going overboard..

  6. 5 out of 5

    Brandee Spears

    If you looking for inspiration to get started on changing your financial lifestyle, this is a great start. If you're looking for an overall how-to for investing, this isn't the book for you. It's sort of like Rich Dad, Poor Dad but aimed at I powering women.

  7. 4 out of 5

    Alexandra

    quick, effective read - though a little meh on novel ideas.

  8. 5 out of 5

    Kristen

    Nothing great in here. Very basic information. Could be helpful for high school or college aged people.

  9. 5 out of 5

    Diana

    This book carries the same message as Destiny's Child's Independent Woman Pt. 1 song. Except for the 'only ring your celly when I am feeling lonely, when it's all over please get up and leave.' That happens to be my favorite lines, though. LOL. Working in a bank helps me to be smart in investing. I got to know where to put my money in the right investment which will help me to get rich hahaha well, you have to let your money work for you, no? And I think, being financially independent is a must This book carries the same message as Destiny's Child's Independent Woman Pt. 1 song. Except for the 'only ring your celly when I am feeling lonely, when it's all over please get up and leave.' That happens to be my favorite lines, though. LOL. Working in a bank helps me to be smart in investing. I got to know where to put my money in the right investment which will help me to get rich hahaha well, you have to let your money work for you, no? And I think, being financially independent is a must for every woman. We cannot blame the culture here where men think that women are 'not-so-smart-enough' in earning and spending money and I still find most women don't have enough knowledge in how to make their money grow. For example, we women tend to save our money in time deposits or saving account no matter how much we earn them while men tend to invest in property and stocks. I am not saying that it's wrong to save your money in saving account or time deposits, it's just that in this time they're not the right investing instruments. You'd get small interest!! And you'd even have to pay for taxes!! But sometimes women don't have the guts to switch from the traditional instruments like time deposits to stocks. Believe me ladies, time deposits' interest won't get you anywhere...Try to invest in unit link, instead. This book however, teaches us women how to become financially independent, how to invest the right way, and how to be really smart in earning and spending your money, and how not to be weak in dealing with money issues. I think it's really empowering. And I am so into empowering books. Women should read this.

  10. 5 out of 5

    Mireille

    I read the translated version of the book, in Finnish, which made some of language seem off; either condescending or simply nonsensical as direct translations of phrases often don't work. Aside from that since the translation is obviously not part of the original deal you get with a book: most items in the book are pretty darn obvious. There are next to no actual investment tips and the examples "from real life" are often of people who are already extremely privileged. If you have 10,000 USD to i I read the translated version of the book, in Finnish, which made some of language seem off; either condescending or simply nonsensical as direct translations of phrases often don't work. Aside from that since the translation is obviously not part of the original deal you get with a book: most items in the book are pretty darn obvious. There are next to no actual investment tips and the examples "from real life" are often of people who are already extremely privileged. If you have 10,000 USD to invest, you already are wealthy. Same with receiving inheritances between 10,000 and 30,000 USD. Also the statistic on how much of their earned income men use annually versus the amount used by women are kind of a moot point as there are more necessities women need for bare survival as there are necessities men need. This book strikes me as directed more towards women in upper middle class to upper class, who grew up with wealth and all the opportunities and didn't ever really have to consider deciding between rent or eating. Or eating and medication. Or rent and education. The book isn't without redeeming qualities, but be forewarned that if you are poor, this book will probably not help you much.

  11. 4 out of 5

    Stephanie

    Some tips were great to read at this time in my life. I need to greatly consider whether or not we pay off our mortgage early and this book is leaning me towards researching other options. Other tips were less relevant or more obvious. Like don't let your adult children leech off of you, but I'm sure there are plenty of retirement age people wondering what the hell happened. Not a bad book, but I didn't find it particularly revelatory. I did like her all-inclusive approach to picking topics and lis Some tips were great to read at this time in my life. I need to greatly consider whether or not we pay off our mortgage early and this book is leaning me towards researching other options. Other tips were less relevant or more obvious. Like don't let your adult children leech off of you, but I'm sure there are plenty of retirement age people wondering what the hell happened. Not a bad book, but I didn't find it particularly revelatory. I did like her all-inclusive approach to picking topics and listing mistakes in a friendly and clear format.

  12. 4 out of 5

    Michaela

    I feel like this is a great book for young women who lack the motivation and the necessary knowledge to start responsibly managing their money. What I particularly liked about the took is that it has a very well organized structure: each habit is listed with a title, a description, sometimes even a short story, and with a few practical coaching tips - this made the book easier to read and digest. Additionally, not only did it provide advice, but it also motivated me to get more educated on the t I feel like this is a great book for young women who lack the motivation and the necessary knowledge to start responsibly managing their money. What I particularly liked about the took is that it has a very well organized structure: each habit is listed with a title, a description, sometimes even a short story, and with a few practical coaching tips - this made the book easier to read and digest. Additionally, not only did it provide advice, but it also motivated me to get more educated on the topic of personal finance (something I dread immensely, but I now recognize the important of). What is worth mentioning is that this is definitely a book aimed at young women or women who have zero experience in managing their finances. For someone doing a somewhat okay-ish job at this, I think the book will mostly be common sense. I think it would have been better if the book also provided some basic information on finance, rather than just references to useful resources - it would’ve made it a really complete guide. Nonetheless, I still think it’s a very useful book for young girls and it has inspired me to become more educated and responsible in terms of my personal finances.

  13. 5 out of 5

    Meredith

    Much like her other book, Nice Girls Don't Get the Corner Office, this book is built in a bullet-list style. It's a quick read that has really good advice. If you listen and implement her suggestions, you'll be on your way to a wealthier future. Hopefully the book reduces some of the fears people feel when they are faced with making changes to their ways of thinking, behaving, and planning for the future. I've passed a few of these ideas along to family friends I thought might benefit. I suspect Much like her other book, Nice Girls Don't Get the Corner Office, this book is built in a bullet-list style. It's a quick read that has really good advice. If you listen and implement her suggestions, you'll be on your way to a wealthier future. Hopefully the book reduces some of the fears people feel when they are faced with making changes to their ways of thinking, behaving, and planning for the future. I've passed a few of these ideas along to family friends I thought might benefit. I suspect that's true for many readers. The bullet-list style is a great mechanism for delivering information in a direct fashion. In most cases; it's my favorite reduce-the-bs way. However, as someone who listens to these books on her commute ... this style goes a little too fast. I can't take notes or engage with the material the way I would need to in order to grasp as much as I can of what she is saying. So I end up listening more than once. I guess that's not the end of the world...

  14. 4 out of 5

    Laura Fulton

    I saw something on Pinterest awhile back that I was reminded of while reading this book- it went along the lines of “if you think I’m buying coffee out every day, you already think I make more money than I actually do.” Or something to those lines. While many points in the book would instantly make me think of specific instances in my own life, and the lives of my friends, I got a touch defensive during parts of it because she had the tendency of acting as though women were making financial “mis I saw something on Pinterest awhile back that I was reminded of while reading this book- it went along the lines of “if you think I’m buying coffee out every day, you already think I make more money than I actually do.” Or something to those lines. While many points in the book would instantly make me think of specific instances in my own life, and the lives of my friends, I got a touch defensive during parts of it because she had the tendency of acting as though women were making financial “mistakes” because we as a gender are too stupid to see a better solution. Also, there is a lot of financial information that is outdated (with the book being written before the market crash in 2008). All in all, I wish I had read this book 15 years ago, before I had the chance to make any of these mistakes. But after living as an adult, a lot of this was self explanatory.

  15. 4 out of 5

    Leanne

    Absolutely loved this book. It gave me a metaphorical kick up the backside to find out more about where I stand with my pension and so on. I removed a star because it's very U.S. centric and I'd love to read the British version, so feel free to suggest. Also some of the advice is not going to be suitable unless you're already wealthy, such as one of the tips on setting up a foundation. It's pretty difficult finding a female financial advisor though I've come across some good British sites aimed at Absolutely loved this book. It gave me a metaphorical kick up the backside to find out more about where I stand with my pension and so on. I removed a star because it's very U.S. centric and I'd love to read the British version, so feel free to suggest. Also some of the advice is not going to be suitable unless you're already wealthy, such as one of the tips on setting up a foundation. It's pretty difficult finding a female financial advisor though I've come across some good British sites aimed at women for investing.

  16. 4 out of 5

    Diane

    3.5 stars? I dunno. It obviously comes from a significant place of privilege (I actually highlighted one section and commented “really?!”), and also pretty heteronormative although she does say “him or her” when talking about the reader’s partner. So there’s some effort to acknowledge both of those issues by the author but still. It also suffers from being written pre-2008 recession I think, and doesn’t talk much about student loans and things, but more about your way to think about and approach 3.5 stars? I dunno. It obviously comes from a significant place of privilege (I actually highlighted one section and commented “really?!”), and also pretty heteronormative although she does say “him or her” when talking about the reader’s partner. So there’s some effort to acknowledge both of those issues by the author but still. It also suffers from being written pre-2008 recession I think, and doesn’t talk much about student loans and things, but more about your way to think about and approach money. Assuming you have some to spend. ¯\_(ツ)_/¯

  17. 5 out of 5

    Ashleigh Buchanan

    Short read, a little too dated/basic. Might be good if you are starting from square 1 in learning about your finances but most of this stuff was information I had already learned or just common sense.

  18. 5 out of 5

    Jasmine

    This was my first financial/self help book I have ever read. I'm glad I decided to pick up this one first because it made me look at my life completely different.

  19. 4 out of 5

    Ayeesha Kanji

    An excellent read, love the coaching tips.

  20. 5 out of 5

    Naomi Wahls

    Good ideas. Not all realistic but definitely helpful and inspiring.

  21. 5 out of 5

    Francesca Escamilla

    Woman's Must Read Stop being a nice girl, so you can be a rich one! This is the ideal behind the book. The author goes on to list many mistakes women make and how to avoid or fix them. Don't be a pushover and the main lesson, educate yourself about financial information in general. Overall, women don't know what we should know to make the best decisions for ourselves. Not a page turner by any means but very informative.

  22. 5 out of 5

    Amber

    Nice Girls Don't Get Rich was the first personal finance book to have drilled it into my head that much of your financial fate is in your own hands, and I'm very fond of it. Some of the tips aren't applicable to me, because I don't think I'm in line to inherit a family fortune anytime soon and I don't have a jerk husband, but most of them are good reminders or great suggestions. You won't even THINK about combining your bank accounts with your spouse after reading this. Any stupid ideas about mo Nice Girls Don't Get Rich was the first personal finance book to have drilled it into my head that much of your financial fate is in your own hands, and I'm very fond of it. Some of the tips aren't applicable to me, because I don't think I'm in line to inherit a family fortune anytime soon and I don't have a jerk husband, but most of them are good reminders or great suggestions. You won't even THINK about combining your bank accounts with your spouse after reading this. Any stupid ideas about money you didn't realize you had will seem ludicrous to you by the time you finish reading this. This is the kind of empowering, self-motivational book I would read by the beach or the pool if I did that sort of thing. It makes me feel really good.

  23. 5 out of 5

    Jenny

    Although there is some sound advice in this book, some of it is completely ridiculous for the average reader. Starting your own foundation? A majority of the women reading this book are not going to be so well off that they can just up and start their own foundation. There were some solid attempts to be inclusive to non-straight women, but for the most part focused on straight women in traditional gender roles in their relationships. The most valuable part of this book for me was advice on the am Although there is some sound advice in this book, some of it is completely ridiculous for the average reader. Starting your own foundation? A majority of the women reading this book are not going to be so well off that they can just up and start their own foundation. There were some solid attempts to be inclusive to non-straight women, but for the most part focused on straight women in traditional gender roles in their relationships. The most valuable part of this book for me was advice on the amount I should be saving for retirement, and forced me to realize that I need to stop making excuses and just start putting more money into savings.

  24. 5 out of 5

    Doris

    I enjoyed this book for the most part. Skipped over some of the topics. I like how the author identifies myths that women grow up with. For example, the idea that a woman doesn't have to be concerned with financial planning because they can always marry a rich man. Frankel offers practical advice and encouragement for women in all stages of life. I don't have a traditional job so some of the information was not relevant for my situation, but overall it was a good, thought provoking read. I like I enjoyed this book for the most part. Skipped over some of the topics. I like how the author identifies myths that women grow up with. For example, the idea that a woman doesn't have to be concerned with financial planning because they can always marry a rich man. Frankel offers practical advice and encouragement for women in all stages of life. I don't have a traditional job so some of the information was not relevant for my situation, but overall it was a good, thought provoking read. I like the goal setting advice. I definitely recommend you read this book.

  25. 4 out of 5

    Laurie

    I liked this book, but not as much as "Nice Girls Don't Get the Corner Office." After taking the self-assessment at the beginning of the book, it was clear I needed help. But this book was written 10 years ago and did feel a little dated. Who balances their checkbook anymore because who uses checks? Some of the questions in the assessment were not relevant to me either, so it did make it hard to take. I think this book is not so much for young women but more for women of a certain age who are lo I liked this book, but not as much as "Nice Girls Don't Get the Corner Office." After taking the self-assessment at the beginning of the book, it was clear I needed help. But this book was written 10 years ago and did feel a little dated. Who balances their checkbook anymore because who uses checks? Some of the questions in the assessment were not relevant to me either, so it did make it hard to take. I think this book is not so much for young women but more for women of a certain age who are looking toward retirement or starting new independent lives after a divorce.

  26. 5 out of 5

    Bridgette

    I guess the operative word here is girls. I found the advice to be sound. However, I have always been independent and managed my own income, so much of the book did not apply to me. Also, since my early twenties I have made sure to educate myself on how to manage income and investments and to understand the language of it. A few items toward the end of the book were good reminders to me that it is again time to reevaluate my current investments. I recommend this book for younger women are those I guess the operative word here is girls. I found the advice to be sound. However, I have always been independent and managed my own income, so much of the book did not apply to me. Also, since my early twenties I have made sure to educate myself on how to manage income and investments and to understand the language of it. A few items toward the end of the book were good reminders to me that it is again time to reevaluate my current investments. I recommend this book for younger women are those who have never managed their own money.

  27. 4 out of 5

    Emily

    I enjoyed this book, Lois Frankel had some great ideas and tips. Some of the things were pretty common sense to me, but perhaps they're not to everyone. I think the thing I found the least helpful about this book has more to do with the fact that I don't have a full-time job with a disposal income and such. And that's not the author's fault. I'm sure that if I were reading this a couple of years from now it might be more useful.

  28. 4 out of 5

    Kate

    So I didn't actually finish this - because what it taught me is I have failed financial know how 101!! I avedly read the bits that I clearly required and then took myself off to the net to find myself some useful and slightly less advanced information to be getting on with. It was a game changer for me (wohoo) her first chapter on learning what you don't know, a real epiphany and hopefully she has got me headed in the right direction! A big thank you and shout out to Lois P. Frankel xxx

  29. 5 out of 5

    Tricia

    This book is a great resource to point you in the right direction to take control of your financial future. I've learned a lot from it, sone things that I never thought of before, and plan to keep it as a reference tool in the future. My only negative comment is that it needs to be updated - some of her advice is using outdated tools and resources. But overall, a lot of great advice and suggestions.

  30. 5 out of 5

    Valerie

    Informative but repetitive. Not as impressed with this book as I was with "Nice Girls Don't Get the Corner Office." I think the author just didn't have enough material and ended up regurgitating information towards the end. However, I will look into the book recommendation made throughout the book.

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