Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams

by David Bach

Many women, whether they've managed million-dollar budgets at work or managed kids, bills, and car payments at home, feel at a loss when it comes to figuring out their finances. Now, in Smart Women Finish Rich, renowned financial adviser David Bach gives women the tools and the program they need to create a rich future. Whether you're working with a few dollars a week or a significant inheritance, Bach's seven-step program can provide a huge payoff. Smart Women Finish Rich will put you in control of your finances and your future."David Bach is a financial genius with a passion for helping women get rich. Read this book--and prosper!"--Laurie Beth Jones, bestselling author of Jesus CEO"Finally, a book for women that talks about money in a way that makes sense. David Bach is not just an expert in managing money--he's the ultimate motivational coach for women. I can't recommend this book enough. It's a must-read!"--Barbara DeAngelis, Ph.D., bestselling author of Real Moments"Finally, a financial planning guide that addresses the unique issues that women face today. But what I like the most is that David starts with the most important aligning your money with your values."--Harry S. Dent, Jr., bestselling author of The Roaring 2000sFrom the Trade Paperback edition.

Genres: Finance, Nonfiction, Personal Finance, Money, Self Help, Business, Personal Development

401 pages, Kindle Edition

First published December 29, 1998

About the author

David L. Bach is an American financial author, television personality, motivational speaker, entrepreneur and founder of FinishRich.com. Bach, is best known for his Finish Rich Book Series and Automatic Millionaire Series of motivational financial books under the Finish Rich Brand. He has written 12 books since 1998 with over seven million copies in print.
Eleven of Bach's books have been national bestsellers, including nine consecutive New York Times bestsellers, two of which were consecutive #1 New York Times bestsellers (The Automatic Millionaire and Start Late, Finish Rich). Bach has had four of his books Smart Women Finish Rich, Smart Couples Finish Rich, The Automatic Millionaire and The Finish Rich Workbook appear simultaneously on the Wall Street Journal, BusinessWeek, and USA Today bestseller lists. Eleven of Bach's books have been published from Random House (Broadway Books).
Bach's first book Smart Women Finish Rich was published in 1998, and appeared on the bestseller lists for a decade. His most recent book Debt Free For Life (2011) was published by Crown Business Books, and appeared simultaneously on the New York Times, Wall Street Journal and USA Today bestseller lists.
Bach has appeared regularly on television dispensing his financial advice since 1994. His first appearance on television took place in San Francisco, on local cable channel BayTV, where he was "The Money Doctor", and answered personal financial questions.
He was a regular contributor to The Today Show, appearing weekly on the Money 911 Segments. He also has contributed to CNN American Morning, CNBC, Fox Business, ABC Good Money, and The Oprah Winfrey Show. He has appeared on The Oprah Winfrey Show over six times, including the shows "How to become an Automatic Millionaire" (2004), "How to become an Automatic Millionaire Couple" (2004) and "Oprah's Debt Diet Series" (2006). Bach has appeared on CBS's The Early Show, NBC's Weekend Today, CNN's Larry King Live, ABC's Live with Regis and Kelly, and ABC's The View.
Bach has written, produced and hosted two public television specials, Smart Women Finish Rich and The Automatic Millionaire, which aired nationally. Smart Women Finish Rich was produced by Connecticut Public Television (1998) and The Automatic Millionaire by Chicago Public Television (2006). He has hosted two radio shows, Finish Rich with David Bach (Sirius Satellite Radio) and The Finish Rich Minute (Westwood One).

Reviews

[Sara · Rating 3 out of 5]

While this is a decent guide to budgeting, saving, and investing, the c. 2000 edition felt very dated. (See, for instance, the chapter praising the man making a 50% return on his dot com stock portfolio, and criticizing the woman whose portfolio was balanced and made "only" 11% annually. I wonder who still had retirement savings in 2001.)

I would probably recommend this title to women with established money management problems, or more mature women. If you're young, just landed your first job, and want some guidance, read Suze Orman instead: she addresses issues like credit card debt, student loans, and how to live on a low income--and her tone is snappier, her expectations more realistic and forgiving (because, after all, you're 20, not 40).

Smart Women Finish Rich, on the other hand, spends a long time dealing with women's emotional relationship to money, and how to develop a healthy attitude about spending and saving. The first chapters help you explore why you earn what you do, what you do with it, and then direct you into different courses of action based on your ultimate life and financial goals. This kind of thinking is a good reality check, and can help you develop sustainable money management strategies over the long term, but the reader looking for a lot of hard financial advice upfront might find this book too psychological.

[Kerri · Rating 4 out of 5]

Self help books are not my "thing" but this one I really liked for two reasons. First, it was a step by step instruction on what to do and how to do it to get your financial life in order. The beginning step is to buy folders. Then the author tells you how to label them and what to put in them. Seriously. This is the sort of guidance I need. Maybe most people know what they have but when you have a family, house, job and so on things get away from you and it is hard to get a handle on where all the money, insurance, retirement accounts, savings accounts, wills and so on are. The second thing I liked about the book was that it had very specific tips on how women should save differently from men. For example, women live 20% longer so the rule that you should have 10% of your salary isn't enough for women, we should save 12%. If you are looking for answers on where to put your money, this isn't that sort of investing book. If you feel like you need to start saving but feel you don't have extra cash or you are overwhelmed by trying to figure out where to start or if you are doing the right things related to your financial life, this is a great book to get you started without a financial advisor.

[Shane · Rating 4 out of 5]

Just in the way of explanation. This was the first book David Bach wrote b/c it was his grandmother who taught him about personal finances and in his financial advisor business he was tired of seeing women not knowing anything about money after a divorce. I bought it for a few women in my famiy and friend circle, but I never give a book to someone without reading it first. Now you now why I read a book entitle Smart Women Finish Rich =) It is a great read regardless of your sex.

[Joanna · Rating 5 out of 5]

This book changed my life. For some of you who are more financially aware it might not have such a dramatic effect but for me, a 30 year old with no retirement started and paltry savings, it was a god-send. The most valuable thing for me was that it helped me set some financial goals and it got me interested in attaining them. Thoughout the book he speaks to those people who may earn tiny salaries - such as us ladies in non-profits - and gives you confidence that you can achieve your goals too, that talking about money isn't just for rich people.

[Frances]

I'm refusing to rate this book, on the basis that I am not yet a millionaire.

Further bulletins as events warrant.

[Laura · Rating 2 out of 5]

Pretty elementary - should be read in high school. Don't pay for his books. Adults - Just read the chapters you need in the library standing in front of the shelf. (It is that fast.) Kids - Read his books and do what they say. I felt this was pretty remedial and outdated.

[Nannie Peterson · Rating 5 out of 5]

Excellent financial education book! As a feminist, I felt advocated for by the author as you can tell he really cares about women creating financial wealth and independence. My number one fear has always been being dependent on another person, and the author simplified complex financial questions such as investments, health insurance, and what real financial goals are! He helped me get a grip on my impulse buying and set my priorities straight for what my true desires are when it comes to finance. It is a book for all ages and all financial points in life, I am so much further ahead now at 25 than I ever could have imagined!!

[آزاده شریفی · Rating 5 out of 5]

واقعا کتاب خوبی بود... برای بزرگ شدن و درک دنیای پول
بدون این که امید احمقانه بدهد یا به خیال بافی ام بکشاند
بهم نشان داد چرا همیشه در حال ورشکستگی ام
...
ولخرجی هایم را نشانم داد و باعث شد خیلی خجالت بکشم
کاش بشود اینها را در مدرسه یاد داد
...
کاش
...
تشکر خاص از مترجم خوب کتاب فرخ بافنده که دلسوزانه همه منابع را ایرانیزه کرده بود
و آقا کچله کتابفروشی جیحون
...

[Lauren · Rating 4 out of 5]

So this is absolutely not a book I would normally read - in fact, just looking at the title makes me feel greedy (and more than a little cheesy). But after reading a book on home buying that mentioned Bach's book, I thought I would pick it up. It never hurts to do a periodic financial check-in, and getting a book specifically geared towards women turned out to be smart. If you can get past some of the silly jargon (Bach has "9 Steps to Achieving Financial Security," and he *trademarked* the phrase "Latte Factor"), there is a lot of wisdom to be absorbed from this book. Most of us have never received any formal training on how to manage our finances, and it's sad but true that women have to be extra assertive and vigilant to achieve some sense of financial security and happiness. Bach never talks down to the reader and avoids stereotyping women as shopaholics - he just gives good, common sense advice in the simplest language possible. A great place to start if money books scare you...

[Lightreads · Rating 3 out of 5]

Like most finance books, this one became rapidly dated (savings accounts at 4%? Ahahahaha) but it's still good on general financial literacy. And I do endorse his project here of speaking specifically to women and women's financial concerns – make less, live longer, get screwed in the divorce. I just wish he hadn't accompanied that agenda with a lot of gender bullshit about how women and men are fundamentally different in how they invest and women have more patience, everybody, it just comes pre-installed as part of vaginas, obviously.

Still, I wish I'd read this eight years ago in my first real job, when I didn't understand tax-deferred accounts or insurance and just flailed vaguely around learning on the go. For contrast, today I bought shares of an index fund that tracks the MSCI real estate investment trust index, and I did it with confidence and as much knowledge as I wanted. This book didn't get me from there to here, but if I'd read it at the right time it would have saved a lot of effort.

Still would have been annoying, though.

[Phoebe · Rating 5 out of 5]

These are challenging economic times and what's a single gal to do? Hide her head in the sand like an ostrich and wait for a better tomorrow? Hells, no! This is a great book for anyone (boys and girls) who want to get their financial house in order. The author provides pretty basic information on how to save and how to invest ... how to make your little cash dollars work for you like in that ING commercial where they are doing little sit-ups and jumping rope. This book is probably not for those who already have some know-how about finances but its definitely good for someone who needs to figure things out from scratch. Highly recommended!

[Caroline · Rating 5 out of 5]

Motivating tips about saving and understandable explanations of financial terms. I also wasn't expecting this to have such an inspiring, find-your-dream-and-live-it message. Really liked the points about compounding interest and IRAs!

"$300 a month on clothes...car phone...restaurants...dry cleaning...leased car...all in all, she was spending over $2000 a month - well over half her take-home pay - on things that had absolutely nothing to do with what was most important to her: namely, having more time to devote to her family and community."

"I'll have enough money only when I decide that what I have is enough."

[Deirdre · Rating 1 out of 5]

It took me forever to make myself finish this book. Whereas I believe the premise is great (ensuring women take charge of their finances, etc), I found much of this book to be condescending. The author relies on extremely outdated stereotypes and what seems like obvious stories of fiction. Some of the tips are good but not anything that you probably haven’t heard many times over (at least those of us that are drawn to books like this). I can appreciate the effort and applaud the author for anyone that this helps, but I’m just not a fan.

[Amanda Mitchell · Rating 5 out of 5]

I spent a large portion of today resting & reading. This book is so much better than Suze Orman's 'Women & Money', because it gets past the initial shock of women being clueless about money (I know I am... which would make her cringe to hear).

It gives practical advice on how to change bad habits by forcing you to think about your values. How could I not save money??? Don't I want future comforts??? I feel like an idiot now... but hopefully now I have a reason & means to change.

[Joanne · Rating 3 out of 5]

A good reminder to not spend everything you make! Some good tips on how to save and invest money to maximize returns and basically how to keep your financial house in order. Giving up a latte a day can make a huge difference in your savings account over 20 years.

[Lauren R · Rating 3 out of 5]

This is a very entry level basic book, it has a lot of really good info if you’ve never been involved in the finance aspect of your livelihood. So if you have someone else in the household that “handles all that finance stuff” then this is a great book for you to read, but for me, I handle all my finances so there was not a whole lot I didn’t already know, however there were some minor nuggets I found useful.

[Emma Stover · Rating 4 out of 5]

Borrowed from a friend. Super helpful!!!! Super easy to follow. Seriously read in one day. Great for anyone getting started. Really takes you step by step.

[Christine · Rating 4 out of 5]

Though at times patronizing in tone and very basic in its message, I learned and was reminded of some good financial advice so overall found this a worthwhile (and short) read.

[Katie · Rating 3 out of 5]

FINALLY FINISHED okay okay i think this book would be extremely helpful…..for a newly widowed woman. It does include other information for others but that’s who it would be most useful for. I found it to be more of a review but to someone with no financial background it is very comprehensive and informative

[Samantha March · Rating 5 out of 5]

I am making a new goal to read a non-fiction book at least every other month, and after listening to David Bach on a podcast I love (The RISE podcast with Rachel Hollis) I wanted to kick off this new goal with Smart Women Finish Rich. I am someone who grew up with no financial savvy or assistance, have been shockingly poor, and have amassed a lot of debt while trying to put myself through college and start my own businesses. I’ve always wanted to learn about money and at one point even hired a financial planner and accountant to help me – and have gotten burned multiple times in the process, actually costing me more money in the long run.
I could really appreciate how Bach broke everything down in simplified categories, and spoke to me in non-technical, un-scary terms that I could actually understand. I believe there is a work book you can purchase to go along with this (I read the Kindle edition) but I kept a notebook by my side while reading and ended up taking three full pages of notes. Since finishing the book, I have made new financial goals for myself when it comes to savings accounts, my retirement account, 401 (k) and more. I have gotten my husband involved in the conversations and we already moved his 401 (k) that wasn’t growing into a better location. I have started paying myself first, and our savings account already reflects that. If you are someone who has struggled with money and you don’t feel confident how to save, how to plan, and how to make your money work for you, I highly suggest this book. I just purchased another title from him, The Automatic Millionaire, and I’m looking forward to learning even more about money and smart financial planning. Smart Women Finish Rich was worth the price and more, and I left the book feeling smarter and confident, with practices I could actually put into play myself.

[Rafael Musni · Rating 5 out of 5]

I just finished reading this book as I often work with single female clients. I heartily approve this primer for intelligent women that want sage, non-sensationalist, guidance from a practicing financial advisor. Remember that the most famous "experts" that leap to mind are not practicing professionals but celebrities who have surrendered their licenses. Why read this book? The author structures the knowledge around his philosophy of determining one's values first, match them with goals and then selecting he best, time-tested practices to support them.
The author, sagely, recommends that anyone interested in doing this work should consult with a professional and furthermore, how to select a professional. With that in mind, the nine steps he lays out mimic the process an experienced financial professional would take with clients over a period of years, beginning with organizing what financial products then charting a course towards a long and productive financial life. He begins with the most common and essential items needed by women and the appropriate age at which to acquire them. He also does an excellent job at succinctly describing the features and benefits of each product and action.

I hope you read this book!

[Barrie · Rating 5 out of 5]

I read this almost 8 years ago and it changed my life for the better. While waiting for other books I decided to pick it up again and see if I'd have more to learn. I did! This book reads like a dummy's guide in a way...so on the 2nd read the format felt a bit like I read too many of these finance books and this was just another one in the pile. BUT! It also opened my eyes to new values I had (pre-baby vs post-family) and new dreams I wanted to accomplish (8 years ago: pay off loans and farm in hawaii, check and check...now: save for luca's future, our next home, and a year long trip around the world--all in the works!!!). It made me go through all my files and reach out to form a new plan with my financial advisor. It made DH and I look at our joint account and determine that we should probably add a little more to it. And we discovered his values and what that could mean to our future. So while the book just reads like any other, once again it continues to help me save for the things I really want in life. Not shoes or clothes (thank you Buy Nothing for never needing to buy those again), but instead travel and the freedom not to worry when emergencies inevitably hit.

[Elizabeth · Rating 1 out of 5]

The author is clearly knowledgeable, but I question the recommendations when the examples and motivational stories provided are not accurate and/or promote unethical and abusive business practices. For example, when you cite Amazon's business practices and staffing retention model as an admirable way of maintaining motivated staff, I am absolutely going to make conclusions about what that means for your values and beliefs (and their lack of alignment with my own). It takes very little research to learn that the Amazon business plan requires staff turn over to be successful, which basically guarantees that employees will be exposed to toxic work environments. I do not trust the author as a result and while I might find it a good study in business practices that I do not want to be in any of my investments, I also feel very uncomfortable taking lessons in meditation or gratitude when reading a financial guide, particularly if this author values profit over human and/or labor rights. However, if an editor somewhere created a book of just the financial worksheets or details about the types of accounts that can be utilized, this could be a very useful resource.

[Kelly · Rating 2 out of 5]

I'd encourage anyone reading this to be wary of any book that offers financial advice that was written more than a decade ago. If Bach has updated this book, I wasn't fortunate to stumble across a copy. The one I read was published in 1998 (a quick search reveals a revised edition from 2001 but nothing else). While his advise is largely sound, the details are not and since the economic downturn a LOT of his financial advice is out of date. Interest rates, for one very easy example, are nothing like what they were when this book was written.

Additionally, I find the book to be rather condescending in places. Mr. Bach explains that he'd NEVER expect someone to live off something as ridiculous as $25000/year. Why, that's impossible! He chides one client for having "only" $300000 in her retirement fund. I commend Mr. Bach for wanting to make his clients rich, but being aware that many, many people reading his book were not already comfortably well off would have been a good first step.

[Julianne Bailey · Rating 4 out of 5]

This is an amazing book and resource for anyone who has decided to improve their financial knowledge and situation but doesn’t know how. This book focuses more on the “how” of investing and financial cleanup, not so much the “why you should.” To me, that is where it differs from books by authors such as Dave Ramsey and Chris Hogan. It goes into much more detail and effectively uses illustrations and analogies. My favorite parts were where the author uses the cost of a latte over time to prove how much you miss out on accumulating wealth by not investing this small amount. The charts showing the benefit of compounding interest was shocking to see. Also, for parents, the last chapter that focuses on teaching financial literacy to your children is a gem. I will be incorporating many of its lessons with my own children. This was easily a four star read for me and I highly recommend for anyone looking to improve their financial literacy and jumpstart investing decisions without being overwhelmed and intimidated.

[Chiao-yu Tuan · Rating 3 out of 5]

This book is a good introduction to personal finance. It spends a lot of time explaining why you should take actions and how to think about money, especially value based financing. It got me interested in taking actions and learning more. It's also an easy read and accessible to general audience. Some of his advice also applies to career and life decision makings. The biggest down side to it is how outdated it is. This edition is published in 2002 and uses statistics (like interest and return rate of 4%) that simply doesn't apply any more. David is planning on publishing an updated version in mid 2015 though, so I would wait for that one before buying this, since you'd have to supplement a lot of material with a more updated information anyways.

[Xiaoyun Li · Rating 5 out of 5]

I would recommend this book as a beginner financial education book and a life coach book. What I love about this book is that, instead of a cold blooded financial education, through this book I can feel the passion and the real author as a person. I really enjoy reading it, for one I got to learn some financial basis, and for second I get some valuable advice on life. I borrowed an ebook from the library but now I am going to buy a copy for my husband and me for reference. It's one of the books that I will go back to read multiple times.

[Kaitlyn · Rating 5 out of 5]

I was gifted this book and honestly was not excited about reading it. Having never read a book about finances, I was hesitant that I would enjoy or get much from this. But I was blown away!!! The author is masterful at creating great stories through his own experience and sharing super helpful and easy to understand tips about your future and finances. I got so much great advice that I’ve actually started to use already! 10/10 would recommend to anyone learning how to deal with money.

[Rose · Rating 1 out of 5]

I made it about halfway though this book before giving up on it. It felt like a mansplanation of female finances by a guy who felt he was qualified to speak on the subject because he had a grandma that was moderately successful at handling her own finances. The overall tone came across as a bit condescending. However, it did have a pretty good list of third party resources.

[Kari · Rating 4 out of 5]

Changed my perspective on how I looked at money when I first read this 15 years ago! Enjoyed picking it up and re-reading the highlighted parts recently.