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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. 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. 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. 4 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. 4 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!" 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

    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.

  5. 4 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.

  6. 4 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.. 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..

  7. 4 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. 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.

  8. 5 out of 5

    Alexandra

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

  9. 5 out of 5

    Kristen

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

  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. 5 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. 5 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. 4 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

    Barbara Dzino

    The book is a bit outdated and its referrences are old as well (written in 2004). The target audience also would be more upper middle class women, who already have a large amount of money at their disposal to use setting up their own foundations or invest. I am also not a fan of how the concrete advice is to just go and find a financial advisor (this would be my main takeaway from the book) for everything, which is a bit outdated since you can learn pretty much anything from the internet these d The book is a bit outdated and its referrences are old as well (written in 2004). The target audience also would be more upper middle class women, who already have a large amount of money at their disposal to use setting up their own foundations or invest. I am also not a fan of how the concrete advice is to just go and find a financial advisor (this would be my main takeaway from the book) for everything, which is a bit outdated since you can learn pretty much anything from the internet these days. However, the book was a good reminder on money mindset and that throuough research and preparation can get you a long way as well as setting the right boundaries - with the call to action that it is okay to be a bit more selfish as a women!

  16. 4 out of 5

    Lorna Liang

    I came into this book in the local library, after finish reading, I felt so sad that I hadn't read it before I started my first job, meanwhile I felt so excited and I wrote a reading notes shared what I've learned from the book with more girls. I encourge them to find sometime and flip through this one. Though the suggestions are not from financial professionals, and sometimes a little bit rough, yet the 75 problems girls made with money is the valuable part of this book and deserves every girl k I came into this book in the local library, after finish reading, I felt so sad that I hadn't read it before I started my first job, meanwhile I felt so excited and I wrote a reading notes shared what I've learned from the book with more girls. I encourge them to find sometime and flip through this one. Though the suggestions are not from financial professionals, and sometimes a little bit rough, yet the 75 problems girls made with money is the valuable part of this book and deserves every girl keeps the list in their wallets or in their phone reminding them from time to time. I am expecting to read Dr. Frankel's other books.

  17. 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.

  18. 5 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)_/¯

  19. 4 out of 5

    Mindy Mueller

    As someone who already had a moderate understanding in personal finance, I think this book does a good job at shifting the reader to understand their own agency towards building wealth and honing additional tools towards money management. Not everyone shares the same confidence as some of the harsher critics observed here. I will likely be looking for some companion reads sometime in the future; meanwhile, I already know I’ll be thumbing back through this little book again soon. Rating 4.5.

  20. 5 out of 5

    Lara

    4 Stars I give this book credit - it was empowering and the theory behind it was all really worthwhile, I gave it the 4 stars because it is well intended. I hesitate to call it good though because it's so dated that the knowledge is no longer practical. For people in a financial phase I recommend it, if you're only picking and choosing select books though I would say this one could be skipped. 4 Stars I give this book credit - it was empowering and the theory behind it was all really worthwhile, I gave it the 4 stars because it is well intended. I hesitate to call it good though because it's so dated that the knowledge is no longer practical. For people in a financial phase I recommend it, if you're only picking and choosing select books though I would say this one could be skipped.

  21. 5 out of 5

    Bunnyfoofoo405

    It was ok - some good tips and pointers, but the info and examples where a little outdated. "Women have been reluctantly invited to join the old boys' club but told not to act like that other members if they want to maintain their membership. The perception is that role appropriate behavior for women still involves being less assertive, direct, and competitive than their male counterparts." "Envision your life as you want it to be, not as it is." It was ok - some good tips and pointers, but the info and examples where a little outdated. "Women have been reluctantly invited to join the old boys' club but told not to act like that other members if they want to maintain their membership. The perception is that role appropriate behavior for women still involves being less assertive, direct, and competitive than their male counterparts." "Envision your life as you want it to be, not as it is."

  22. 4 out of 5

    Alina

    The advice in this book is super obvious and outdated. Perhaps in its day it was a refreshing and enlightening read but the overall tone just doesn't hold up anymore. Save yourself the time and google "How to budget your finances" and if you're already doing that, then google "How to start a financial portfolio" and go from there. The advice in this book is super obvious and outdated. Perhaps in its day it was a refreshing and enlightening read but the overall tone just doesn't hold up anymore. Save yourself the time and google "How to budget your finances" and if you're already doing that, then google "How to start a financial portfolio" and go from there.

  23. 5 out of 5

    May

    This book is a great book for people that lack knowledge in finance since there are lots of very practical tips, the book explores financial planning, controlling spending with tips and life advice on how to wisely spend your money that may impact your future. Overall, I think Nice Girls Don’t Get Rich has sound advice and that you can quickly take action and use it in real-life scenarios.

  24. 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.

  25. 4 out of 5

    Nadira

    Would not recommend. All you need to know is in the index. And by women she meant women over 40 with kids and money and who are about to get a divorce. In my opinion her concepts are very out of date.

  26. 5 out of 5

    Ayeesha Kanji

    An excellent read, love the coaching tips.

  27. 5 out of 5

    Naomi Wahls

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

  28. 4 out of 5

    MJ

    Most of these mistakes are common sense. This book is seriously outdated.

  29. 5 out of 5

    Christina Mendez

    This book was a GAME CHANGER. It made really re think how i view money as business woman. And made me real think everrrything.

  30. 4 out of 5

    Daphne Voisine

    Good book if you want to get into your finance side in life, but didn’t fulfilled everything that i was looking for, maybe more a book for 25-30 years old woman!

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