Money...It's Not Just for Rich People! Book Review: The Dollar Stretcher

Wednesday, 28 December 2005 11:26

The Dollar Stretcher presents

The Book Buzz
by Beatriz Fernandez

Just when I thought I couldn't be surprised by anything new in the personal finance/frugality field, along comes a fresh new approach such as Janine Bolon's in her book Money…it's not just for rich people. I was blown away by this book, and I can't say enough good things about it!

Based on experience gained from her personal life and her research in financial education, Bolon's approach is scientific yet her tone is warm and personal. Her advice is neither too prescriptive nor annoyingly vague. She is persuasive and convincing without being overbearing. In other words, this book is a perfect balance of financial advice, instruction, coaching and direction: everything you need to get started (or continue) to achieve your personal financial goals!

Bolon's book does not offer advice on investing your money in specific vehicles; she teaches you how to apply the basic principles of money management so you too can become a conserver of money and life-energy, and achieve both financial independence and peace of mind.

Inspired by Amy Dacyczyn's methods, Bolon and her husband managed to achieve financial freedom (despite having four children and medical expenses) less than ten years after starting from scratch. While we may not all have the steely determination and drive she has, we can all benefit from her example and her methods.

Bolon's approach is not just about wealth accumulation; as she says, ''money is the means to reaching your goals, and should not be the goal itself.'' Bolon emphasizes the importance of concrete goal-setting, actually writing things down, and continuing to do so every three months as you are on the road to success. She also emphasizes the emotional side of money which is something many authors neglect to address. ''Unhappiness and fear are the keys to our spending habits,'' Bolon states.

She tells us how to take action to ''initiate the flow of money'' into our lives. One way she advises is to start giving money away; Bolon has a very interesting chapter about philanthropy that discusses tithing, the difference between charity and philanthropy and the universal laws which govern the movement of money. This is where she really excels, in capturing an elusive principle and convincing you it works! There is something irresistible about the enthusiastic way Bolon presents her case.

All in all, this book is a great read that fulfills a great need!

Ms. Fernandez is a university Reference Librarian and part-time book reviewer. She lives in Miami, Florida, with her husband and describes herself as ''starting a bit late'' in the personal finance field, but right now she is totally debt-free, excluding mortgage debt, which she plans to eliminate by 2009. (Ok, maybe 2010!)

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