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The 10 Commandments of Money: Survive and Thrive in the New Economy
"A perfect read as a financial primer. Weston's solid and occasionally humorous writing shines through . . . [and] takes this book from being yet another personal finance book to being an enjoyable read I would recommend."— The Simple Dollar
Millions of us skate by from paycheck to paycheck. We all have financial goals we want (or need) to achieve, but are perplexed by how to get there. But expert financial advisor Liz Weston has carved a path, with ten simple strategies that help anyone avoid critical mistakes, survive downturns, and make the numbers work.
Debunking well-trod myths (pay down all your debt immediately) while giving unexpectedly brilliant tips (it's okay to let student loans linger), Liz Weston outlines everything you need to become financially viable, including how
• Know what you can afford
• Create a survival plan with cash and credit
• Manage "good debt" to get ahead
• Save for retirement without sacrificing today
Millions of us skate by from paycheck to paycheck. We all have financial goals we want (or need) to achieve, but are perplexed by how to get there. But expert financial advisor Liz Weston has carved a path, with ten simple strategies that help anyone avoid critical mistakes, survive downturns, and make the numbers work.
Debunking well-trod myths (pay down all your debt immediately) while giving unexpectedly brilliant tips (it's okay to let student loans linger), Liz Weston outlines everything you need to become financially viable, including how
• Know what you can afford
• Create a survival plan with cash and credit
• Manage "good debt" to get ahead
• Save for retirement without sacrificing today
304 pages, Paperback
First published December 10, 2010
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Displaying 1 - 30 of 40 reviews
April 26, 2011
Now, THIS is a personal finance book!
Weston takes ten facets of money management and makes cases for how to handle them in our post-recession reality. She identifies the way our parents and grandparents would have done it, says what the pre-bust "advice" was, and gives a new "rule" for how to get it done now.
The examples are relevant and there are no pithy anecdotes or catchy little phrases - just real, honest-to-goodness information about how things have changed, what we can expect, and how to navigate the insanity.
I skimmed over chapters on things that don't apply to us right now - home ownership and paying for college - and focused on the areas that might help. I've reached the saturation point where personal finance books all sound the same, and this one actually taught me things and made me consider other ways of thinking in several areas.
I love books where I learn something. If you need some financial advice (and come on, unless you're Warren Buffet, you do) this is a great book to check out.
Weston takes ten facets of money management and makes cases for how to handle them in our post-recession reality. She identifies the way our parents and grandparents would have done it, says what the pre-bust "advice" was, and gives a new "rule" for how to get it done now.
The examples are relevant and there are no pithy anecdotes or catchy little phrases - just real, honest-to-goodness information about how things have changed, what we can expect, and how to navigate the insanity.
I skimmed over chapters on things that don't apply to us right now - home ownership and paying for college - and focused on the areas that might help. I've reached the saturation point where personal finance books all sound the same, and this one actually taught me things and made me consider other ways of thinking in several areas.
I love books where I learn something. If you need some financial advice (and come on, unless you're Warren Buffet, you do) this is a great book to check out.
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October 16, 2011One of the more helpful and straight forward books of this type. Lots of food for thought
April 27, 2018
Weston has been a favorite financial literacy writer of mine for over a decade. Her prose is no-nonsense and her ideas are sensitive to the complexities of different financial situations and lifestyles. She offers sound, practical advice for individuals at every age and income bracket. This book did not disappoint. While her reliance on the 50-30-20 rule was depressing for my current situation (single income family with very young children and consumer debt; our "necessities" are quite a bit over 50% right now), her chapters reminded me that some of the extreme financial advice I'd follow (early retirement/minimalist/ascetic-type spending) if I were living alone doesn't make sense for a family. The chapters about debt and retirement savings helped me view my own situation more realistically and reaffirmed the positive steps I'm taking in those areas. The chapter on marriage as a financial partnership was AWESOME and appreciated.
June 19, 2017
A very interesting read and fairly complete and comprehensive as it covers most situations of everyday living. I do disagree on some points, however. For example, living within ones means is not an old rule. In fact it is applied consistently throughout the book. It was formulated a long time ago and survived the Great Depression wars, etc. It still rocks.
December 4, 2023
This is a good book for people wishing to learn more about personal finance. It's a little dated, but that's to be expected since the world of finance is always changing. Generally, the advice in the book is spot on.
December 19, 2019
Of the money books I have read, I really thought this was more for the real people that I know, A realistic budgeting book with great ideas that us po-folk can relate to. This was a Good Read.
December 28, 2019
Dated, but still some really good advice
November 30, 2022
Honestly a great perspective on the rules of past generations vs current best practices. Probably not useful to people who read about finance a lot, but great for someone just starting the subject.
June 15, 2025
這本書不是在談投資的方法，而是學習當代「正確的財務觀念」，有正確的觀念才能在生活中正確使用金錢。作者點破許多一般人習以為常的金融知識和理財觀念，並且提出不一樣的思路。
整本書閱讀起來雖然偶爾覺得有點乏味，但總是會在不經意的時候出現令人驚喜的想法。
整本書閱讀起來雖然偶爾覺得有點乏味，但總是會在不經意的時候出現令人驚喜的想法。
June 28, 2025
Couldn’t recommend this more!
August 24, 2014
I am loving this book (and I absolutely hate reading finance management books). I rarely give 5 stars to anything and I also am considering putting this book on my "best book this year" shelf... and did I mention I hate reading books about personal finance? Here's what I thought were the best aspects of this book:
#1. I love the way she explains everything in terms of "Old School Logic" versus "Bubble-Period Logic" versus "Post Economic Meltdown Logic". It's good to learn from the mistakes of the bubble period but also understand that it doesn't mean you must go back to an Old School Mentality. Things have changed (healthcare costs, banking practices, 401K investing) and we need to understand the "new rules" and at the same time move past a lot of the stupid advice we heard in the bubble economy.
#2. She is really in-tune with banking practices and I think she hates the banks as much I do. I have already used her advice to switch from my current big bank to a 100% online federal credit union. Using the site she recommended I found a credit union that is perfect for me and I'm already going to save a bundle by avoiding monthly fees of all sorts PLUS the "overdraft scam" she highlighted. This new credit union doesn't play that game. On November 5th 2011 I'm going to close my accounts with the BIG BANK and say goodbye to their ever-increasing fees! I guess I never really understood how credit unions (not for profit) and 100% online banks could save you so much money.
#3. I got some reassurance from reading this book that many of the choices I made in the Post-Meltdown era were the correct decisions. Also, I got really clear that some of the choices I made were bad. So - that sense it's good, practical feedback from an expert and it was reassuring that at least I made a few good decisions.
#4. I love how she throws "old-school budgeting practices" out the window and talks about the 50/30/20 Plan. You can use that concept to start off thinking about where you need to end up. Like many people I was backing into the budgeting process and found it really frustrating and futile. I ran the 50/30/20 Plan by my husband and there were no objections. It really is practical.
#5. There is a lot of good practical information about really mundane stuff like insurance. Reading about deductibles isn't the most riveting stuff but at least she condensed it down to the bare minimum amount of information. Also, for those who want to take it to the next level she added an amazing list of resources at the end - many of which I am going to use.
#6. The chapter on marriage and money was enlightening and she "put it all out there" in terms of spouses deceiving one another and even splitting up over finances. Her ideas on budgeting as a couple were enlightening and she went through every possible type of scenario for couples to intermingle and/or completely disentangle their finances.
In the end, I guess the reason I really liked this book is because she didn't waste time going over the same boring stuff we've heard a million times... She has fresh new ideas and perspectives and she keeps her prose brief and succinct so that we can finish the book and get back to reading novels!
#1. I love the way she explains everything in terms of "Old School Logic" versus "Bubble-Period Logic" versus "Post Economic Meltdown Logic". It's good to learn from the mistakes of the bubble period but also understand that it doesn't mean you must go back to an Old School Mentality. Things have changed (healthcare costs, banking practices, 401K investing) and we need to understand the "new rules" and at the same time move past a lot of the stupid advice we heard in the bubble economy.
#2. She is really in-tune with banking practices and I think she hates the banks as much I do. I have already used her advice to switch from my current big bank to a 100% online federal credit union. Using the site she recommended I found a credit union that is perfect for me and I'm already going to save a bundle by avoiding monthly fees of all sorts PLUS the "overdraft scam" she highlighted. This new credit union doesn't play that game. On November 5th 2011 I'm going to close my accounts with the BIG BANK and say goodbye to their ever-increasing fees! I guess I never really understood how credit unions (not for profit) and 100% online banks could save you so much money.
#3. I got some reassurance from reading this book that many of the choices I made in the Post-Meltdown era were the correct decisions. Also, I got really clear that some of the choices I made were bad. So - that sense it's good, practical feedback from an expert and it was reassuring that at least I made a few good decisions.
#4. I love how she throws "old-school budgeting practices" out the window and talks about the 50/30/20 Plan. You can use that concept to start off thinking about where you need to end up. Like many people I was backing into the budgeting process and found it really frustrating and futile. I ran the 50/30/20 Plan by my husband and there were no objections. It really is practical.
#5. There is a lot of good practical information about really mundane stuff like insurance. Reading about deductibles isn't the most riveting stuff but at least she condensed it down to the bare minimum amount of information. Also, for those who want to take it to the next level she added an amazing list of resources at the end - many of which I am going to use.
#6. The chapter on marriage and money was enlightening and she "put it all out there" in terms of spouses deceiving one another and even splitting up over finances. Her ideas on budgeting as a couple were enlightening and she went through every possible type of scenario for couples to intermingle and/or completely disentangle their finances.
In the end, I guess the reason I really liked this book is because she didn't waste time going over the same boring stuff we've heard a million times... She has fresh new ideas and perspectives and she keeps her prose brief and succinct so that we can finish the book and get back to reading novels!
September 22, 2025
This is the first personal finance book I've read that talks about managing wealth for retirement AND navigating bankruptcy or foreclosure (houses and IRAs are not included in bankruptcy, which is a good thing if you knew that before withdrawing all your house or investment equity).
I loved the advice on percentages of your IRA you should have in stocks in retirement (at least 50%) and how much you should withdraw in retirement if you can't run out of money (≤4%). It always struck me as weird that with market volatility withdrawal rates were so close to breaking even with real returns. Likewise with percentages of portfolios in stocks, even though everyone is living longer.
I disliked that she encouraged folks to get long-term care insurance. For most people the most expensive year of their life is their last year (care, medicine, etc). Long-term care insurance doesn't pay for the first 6-12 months of long-term care (because it's not long-term yet). In other words by the time you benefit you're already dead or bankrupt. It's a bad investment for anyone who is middle-class even if you can afford it--better to move your money into trusts or something. When I briefly worked in insurance LTC and annuities we're the big cash cows (LTC had sustained commissions, annuities had a lump sum). However, this didn't affect my stars because if you've made a book for multiple audiences it is hard to always give the right advice; this author always chose security and I respect that.
I wish the author had covered dual income as a means of self-insuring (life insurance, etc.). Living within the means of the lowest paycheck for fixed expenses would have paired nicely with the other advice.
Unfortunately, in the tax/finance industry advice becomes dated quickly as arbitrary decisions continue to be made. I wish there were editions to such a comprehensive book.
Lastly, of course the CFP recommends you hire a CFP--Since half of America believes in conspiracies it's still good advice to tell people to pay an expert.
I also give 5 stars because I detected no BS labeled as common sense.
I loved the advice on percentages of your IRA you should have in stocks in retirement (at least 50%) and how much you should withdraw in retirement if you can't run out of money (≤4%). It always struck me as weird that with market volatility withdrawal rates were so close to breaking even with real returns. Likewise with percentages of portfolios in stocks, even though everyone is living longer.
I disliked that she encouraged folks to get long-term care insurance. For most people the most expensive year of their life is their last year (care, medicine, etc). Long-term care insurance doesn't pay for the first 6-12 months of long-term care (because it's not long-term yet). In other words by the time you benefit you're already dead or bankrupt. It's a bad investment for anyone who is middle-class even if you can afford it--better to move your money into trusts or something. When I briefly worked in insurance LTC and annuities we're the big cash cows (LTC had sustained commissions, annuities had a lump sum). However, this didn't affect my stars because if you've made a book for multiple audiences it is hard to always give the right advice; this author always chose security and I respect that.
I wish the author had covered dual income as a means of self-insuring (life insurance, etc.). Living within the means of the lowest paycheck for fixed expenses would have paired nicely with the other advice.
Unfortunately, in the tax/finance industry advice becomes dated quickly as arbitrary decisions continue to be made. I wish there were editions to such a comprehensive book.
Lastly, of course the CFP recommends you hire a CFP--Since half of America believes in conspiracies it's still good advice to tell people to pay an expert.
I also give 5 stars because I detected no BS labeled as common sense.
March 10, 2013
Personal finance can be complicated if you dig down and try to analyze all the details of all the financial decisions you make. Getting bogged down in minute details can be frustrating and sometimes prevents you from actually taking action.
The thing I like about books like this one and Money Rules by Jean Chatzky is that they focus on the main things you need to get right. Don't be overwhelmed by all the financial acronyms and theories about the best way to invest or save. Simply focus on the most important aspects of your money and you'll get 80% of the way to having healthy finances.
Liz Weston lays out 10 main things to focus on. She does something cool at the start of each chapter. She summarizes what the conventional wisdom used to be about that area of personal finance. Then she points out the incorrect (and sometimes dangerous) assumptions many of us have been using about money over the last 15 years. Then she describes what a pragmatic approach should be based on the current economy - that serves as the introduction to the chapter where she goes into detail on how to implement those principles.
I'm glad Liz gave me a copy when I met her after hearing her speak at last year's Financial Bloggers Conference, cool book.
The thing I like about books like this one and Money Rules by Jean Chatzky is that they focus on the main things you need to get right. Don't be overwhelmed by all the financial acronyms and theories about the best way to invest or save. Simply focus on the most important aspects of your money and you'll get 80% of the way to having healthy finances.
Liz Weston lays out 10 main things to focus on. She does something cool at the start of each chapter. She summarizes what the conventional wisdom used to be about that area of personal finance. Then she points out the incorrect (and sometimes dangerous) assumptions many of us have been using about money over the last 15 years. Then she describes what a pragmatic approach should be based on the current economy - that serves as the introduction to the chapter where she goes into detail on how to implement those principles.
I'm glad Liz gave me a copy when I met her after hearing her speak at last year's Financial Bloggers Conference, cool book.
May 16, 2012
This book was immensely helpful to me, even though it took me 5 months to finish it. I mostly read it on my phone, on the Kindle app, during moments where I found myself waiting!
Hot tip: The first chapter is super useful, and you get most of it from the Kindle sample. Highly recommend reading even just that much, and then deciding about the rest from there.
Not all of the chapters were that useful to me, and it's definitely written for an American (not Canadian) audience. However, the budgeting/saving/general money managing principles were useful enough that I would actually recommend it to anyone.
2012 is my year to get smart about money. Now I just have to start earning more!
Hot tip: The first chapter is super useful, and you get most of it from the Kindle sample. Highly recommend reading even just that much, and then deciding about the rest from there.
Not all of the chapters were that useful to me, and it's definitely written for an American (not Canadian) audience. However, the budgeting/saving/general money managing principles were useful enough that I would actually recommend it to anyone.
2012 is my year to get smart about money. Now I just have to start earning more!
December 19, 2014
I found this very straightforward, concise and eye opening. She has a somewhat myopic obsession with retirement savings and credit unions, but does a good job of balancing her recommendations with what to do if you are nowhere near a position to be a savvy financial planner. Some of us, dare I say most of us, need to dig out of severe financial holes before acting on any of her future planning advise. Yet she does a great job of addressing most debt situations and what to tackle first.
I really liked the discussion of the stock market patterns and the comparisons to the patterns seen during the Great Depression. It made me want to learn more about the stock market.
I really liked the discussion of the stock market patterns and the comparisons to the patterns seen during the Great Depression. It made me want to learn more about the stock market.
March 28, 2011
This is well worth reading. The author covers all of the important financial topics and brings us up to date as to the best way to handle money in these challenging time.
Particularly important was the chapter on how to create a budget- giving the 50/30/20 rules to know what I can really afford and how to begin to actually save some money. Also, the new idea about starting to save as much as possible for retirement while I am working and able and not assuming I will be able to live on social security.
Particularly important was the chapter on how to create a budget- giving the 50/30/20 rules to know what I can really afford and how to begin to actually save some money. Also, the new idea about starting to save as much as possible for retirement while I am working and able and not assuming I will be able to live on social security.
February 28, 2013
Really good book that contained really good explanations. I would have given it 5 stars, but Liz Weston is touting (like many others, so she is not a special case) that earning 8% in the stock market is still expected. The only problem with this 8% "fact" is that some statisticians took the best case numbers in any 30-year period and said that there's never been a 30-year period where the S&P didn't return at least 8%. Well... that would depend on when you got in and when you got out in those 30-year periods.
January 31, 2012
The beginning of the year is always a good time to look over your finances, and this book can help you with general ideas of how to make a plan. Each chapter delves into different areas from reducing debt to saving to retirement and many other things in between. Particularly valuable is the first chapter on budgeting. Overall a good beginning to taking control of your money, but readers will probably have to supplement with other books that go into more detail.
February 20, 2016
This is full of practical advice, backed up with additional reading recommendations and additional opinions and perspectives. I am going to be examining my spending habits and planning towards future goals. I am also recommending this to friends who may need some financial counseling. There is no easy answer, and there is no one size fits all solution - but this book lays out the facts, backs them up, and provides one potential path through life's money maze in this post-recession new world.
January 10, 2013
Great place to start if you want to get your finances in order. I listened to the audio book, and felt like I was getting good advice from a friend. It's mostly common sense information for the average person that's read a few personal finance books. I certainly learned a some new tips, and it got me thinking about some money issues I hadn't read much on in the past.
May 10, 2015
Possibly THE best comprehensive personal finance book I've read this year. Detailed and smart, yet not overwhelming. Each chapter begins with the commonly held beliefs before the bubble and during the bubble that burst '08 and contrasts those to the more measured and mature zeitgeist one should embrace in the aftermath.
May 6, 2011
Listened to the audio book. It was pretty good. She does a good job of explaining the differences between how the old school thoughts were verses the 90's thoughts versus today's ways of looking at financial decisions (i.e buying a house, saving for retirement, etc.)
June 14, 2011
This was a good overview regarding the various aspects of personal finance. I did learn several new items, which I found helpful. There were a few chapters that don't apply to me now, but was good background for the future.
November 5, 2011
Listened to this book on cd...definitely gave me a lot of good info regarding finances and investing and such. Some of it was a bit ahead of me with home buying, etc, but in general, had a lot of great saving ideas. Will prob read/listen to again at some point!
August 28, 2012
Workmanlike explanation of many personal finance topics. But while the book claims an emphasis on post-collapse paradigms, I found much of the advice to be the old tried-and-true. Nothing groundbreaking, but all solid advice.
January 17, 2019
It was an okay audio book. Speaker was great, a woman, with a calming and soothing voice. Most of the stuff shared, I already read in the past or heard, or experienced through trial and error. I only took a short passage of notes.
July 23, 2012
Weston didn't offer a lot for retirees like me but, skimming the book, I think she probably presents a decent guide for those trying to get a handle on their finances.
April 20, 2011
I've been on a personal finance kick lately, and this is one of the better ones i've read. It's as straightforward and basic as it gets, which is great for someone like me who is still learning.
July 9, 2011
This is an excellent book to help anyone manage their money; and if you're not well-versed in money-management, it's even more important!!
I recommend it for everybody!!
I recommend it for everybody!!
January 8, 2012
Common sense advice for financial security in the post bubble economy, albeit a bit repetitious.
Displaying 1 - 30 of 40 reviews