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Worth It: Your Life, Your Money, Your Terms
From the founder and superstar CEO of DailyWorth.com—the go-to financial site for women with more than one million subscribers—comes a fresh book that redefines the relationship between women, self-worth, and money. Worth It shows women how to view money as a source of personal power and freedom—and live life on their terms.
Millions of women want to create financial stability and abundance in their lives, but they don’t know how. They are stuck in overwhelming confusion and guilt, driven by internalized “money stories” that have nothing to do with what is really possible. As the founder of DailyWorth.com, a financial media and education platform, Amanda Steinberg encounters these smart, ambitious women every day. With this book, she helps them face their money stories head on and wake up to the prosperity that awaits them.
Worth It outlines the essential financial information women need—and everything the institutions and advisors don’t spell out. Steinberg gets to the bottom of why women are stressed and anxious when it comes to their finances and teaches them to stay away from strict budgeting and other harsh austerity practices. Instead, she makes money relatable, while sharing strategies she uses herself to build confidence and ease in her own financial life. Through her first-hand experiences and the stories from other women who’ve woken up, Steinberg’s powerful and encouraging advice can help women of any age and income view money as a source of freedom and independence—and create bright financial futures.
Millions of women want to create financial stability and abundance in their lives, but they don’t know how. They are stuck in overwhelming confusion and guilt, driven by internalized “money stories” that have nothing to do with what is really possible. As the founder of DailyWorth.com, a financial media and education platform, Amanda Steinberg encounters these smart, ambitious women every day. With this book, she helps them face their money stories head on and wake up to the prosperity that awaits them.
Worth It outlines the essential financial information women need—and everything the institutions and advisors don’t spell out. Steinberg gets to the bottom of why women are stressed and anxious when it comes to their finances and teaches them to stay away from strict budgeting and other harsh austerity practices. Instead, she makes money relatable, while sharing strategies she uses herself to build confidence and ease in her own financial life. Through her first-hand experiences and the stories from other women who’ve woken up, Steinberg’s powerful and encouraging advice can help women of any age and income view money as a source of freedom and independence—and create bright financial futures.
288 pages, Hardcover
First published February 7, 2017
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Displaying 1 - 30 of 137 reviews
June 27, 2022
Good audiobook in the self financial book category. Easy to listen too and learned a bit more
February 15, 2017
This is, hands down, the best book for women on money that I have read yet, and I have read most of them. Amanda's down-to-earth style of talking to the reader as if we are a close friend with whom she openly shares all of her missteps and mistakes is at once endearing and refreshing. Her method of looking first at the big picture, net worth question, rather than focusing first on budgeting and income, feels like an intelligent woman talking to other intelligent women about the things we have all been missing out on all along, not because we are dumb or not good with money, but because financial advice has always been delivered to women in a way that is not particularly helpful to our bottom line and life goals.
If I had to pick a single favorite thing about this book (which is pretty hard) I think it would be her use of the idea of roots and wings. Roots being assets, REAL assets, as in paid off real estate (not real estate still owned by the bank), retirement and investment accounts as well as businesses that can either be sold or run without you present (otherwise you are more of a freelancer than a business owner), and other assets that are usually relatively illiquid and have the ability to hold their value long term, while hopefully increasing their value over time. Wings she talks about in terms of the income that you use both to feed the roots and support your lifestyle choices. I LOVE this idea so much that I had to stop and post in a couple of my book club groups about it. Income is only a part of my financial picture, and not even the biggest or most important. And budgeting is just a matter of lifestyle choices that I am making day to day. The big picture goals are planting and nurturing the roots that are going to make me and my family secure for the rest of our lives.
Sound interesting? Want to know more? Read the book and tell me what you think!
If I had to pick a single favorite thing about this book (which is pretty hard) I think it would be her use of the idea of roots and wings. Roots being assets, REAL assets, as in paid off real estate (not real estate still owned by the bank), retirement and investment accounts as well as businesses that can either be sold or run without you present (otherwise you are more of a freelancer than a business owner), and other assets that are usually relatively illiquid and have the ability to hold their value long term, while hopefully increasing their value over time. Wings she talks about in terms of the income that you use both to feed the roots and support your lifestyle choices. I LOVE this idea so much that I had to stop and post in a couple of my book club groups about it. Income is only a part of my financial picture, and not even the biggest or most important. And budgeting is just a matter of lifestyle choices that I am making day to day. The big picture goals are planting and nurturing the roots that are going to make me and my family secure for the rest of our lives.
Sound interesting? Want to know more? Read the book and tell me what you think!
August 1, 2017
This is a tough book to review. Steinberg offers some really good, no-nonsense advice, and I found her style more accessible than many personal finance books. But like many books of its kind, this one is written with middle and upper-middle class people in mind. There is really no mention of unique situations for lower income people like increasing income inequality, stagnant wages for those at the bottom, the increasing costs of higher education, and the many obstacles working against low income people with limited safety nets or family support. Steinberg uses real life examples culled from the upper middle class- the couple with a monthly income of $10,000 working to pay down credit card debt; a man making $150k a year who becomes a millionaire in his mid-thirties. For the audience she is writing for - people with expendable income - she offers very good advice. For those making much less, I'd suggest looking elsewhere. It is unfortunate that books like these perpetuate the myth that all it takes to dig your way out of poverty is some self-discipline and good decision-making, ignoring the very real impediments for those at the bottom, and the often hidden advantages (like family support) for those at the top.
February 25, 2017
"Money gives you choices. More income helps point you in the direction of safety and security. But true prosperity requires that women step into the role of the money manager without apprehension, guilt, fear, or shame. It's time. Owning your power, and money means owning your worth."
For many, money is power. That can make people, especially women, slightly uncomfortable. All too often women tend to focus on the minutia of money (budgeting, stretching it to go further, using it to meet everyone's needs), rather than the bigger picture (what assets does it provide, what is my net worth, and how can I increase it?).
Here's one example from my own life. In a past job, I was learning a computer system that required students to submit money numbers for the example. You could put anything you want in the blank spaces. When we were on a training break, the instructor (a woman) mentioned to me that it was so interesting to compare the students. The women would all put in figures in the hundreds for the example, while the men would enter thousands. The men in the group were automatically assuming control of larger amounts (however imaginary), even though they had no more experience than the women with the software.
Without giving it any real consideration, they were projecting themselves into wealth, comfortable with handling larger figures. It was routine for the men to see themselves in control. This is where women need to be, although few of us are there yet.
Author Amanda Steinberg (creator of the website DailyWorth) takes women deep into the heart of where we need to be, centering around the big picture money issues. She freely shares her own missteps and what she learned from them. Even more than that, however, she enables women to realize they are capable of (maybe even excellent at) marshaling their money resources to create a solid net worth they can then use to build their aspirations on.
Women have needed a book like this for a long time, and Steinberg has finally provided it.
Thanks to Good Reads and North Star Way for allowing me to enjoy an Advanced Readers Copy of this book
February 10, 2017
Shed the Shame, Drop the Blame, Play the Game
Merge the topics of women, self-worth, and money together and I am there. This alone is one of the main reasons I loved Steinberg’s book Worth It. Just the fact that someone is writing and speaking out on this topic is huge. Steinberg is the founder and CEO dailyworth.com, an online financial site for women. I have been a member for about eight months greedily consuming the useful articles and tips so that I can better face my own money story.
Worth It is a useful and unique to women compilation of getting clear on our money story, releasing any shame and blame around that story, building on positive self-worth through the main artery of saving, managing our money, and staying consistent by staying in the game.
Her advice is straightforward and no nonsense but not too tough love. Forgive yourself for your past money transgressions and it’s never too late to start increasing net worth are frequent refrains. She offers a number of helpful resources without being overwhelming.
Though she offers several real life women and money stories, I wish she would have been more representative and inclusive of those women whose situations and experiences fall outside the white life of privilege that stands out among these pages. However, I do believe that much of the knowledge she imparts can be applied to other financial situations and I plan on putting it to my own test.
Again, simply getting this topic into the mainstream is a very big deal. As Steinberg states; “Let’s share financial information as easily as we share tips on restaurants ad child rearing.”
With two-thirds of US wealth in the hands of women by 2030, it is about time we opened the dialogue.
BRB Rating: Own It
Merge the topics of women, self-worth, and money together and I am there. This alone is one of the main reasons I loved Steinberg’s book Worth It. Just the fact that someone is writing and speaking out on this topic is huge. Steinberg is the founder and CEO dailyworth.com, an online financial site for women. I have been a member for about eight months greedily consuming the useful articles and tips so that I can better face my own money story.
Worth It is a useful and unique to women compilation of getting clear on our money story, releasing any shame and blame around that story, building on positive self-worth through the main artery of saving, managing our money, and staying consistent by staying in the game.
Her advice is straightforward and no nonsense but not too tough love. Forgive yourself for your past money transgressions and it’s never too late to start increasing net worth are frequent refrains. She offers a number of helpful resources without being overwhelming.
Though she offers several real life women and money stories, I wish she would have been more representative and inclusive of those women whose situations and experiences fall outside the white life of privilege that stands out among these pages. However, I do believe that much of the knowledge she imparts can be applied to other financial situations and I plan on putting it to my own test.
Again, simply getting this topic into the mainstream is a very big deal. As Steinberg states; “Let’s share financial information as easily as we share tips on restaurants ad child rearing.”
With two-thirds of US wealth in the hands of women by 2030, it is about time we opened the dialogue.
BRB Rating: Own It
February 20, 2018
Quick review for a quick read. I think "Worth It" managed to check all the boxes of a financial planning guide that worked for me. It's a combination of a bio,graphy (with Amanda Steinberg talking about her own money story and how it was shaped from when her family was blindsided by multiple life events), financial planning guide, and inspirational/motivational story. It's no nonsense, and I appreciated the fact that Steinberg's rhetoric was easy to understand while being informative, honest, and practical. This book doesn't just tackle one aspect of personal finance, but rather delving into multiple measures like saving, managing debt, investing, exploring your "money personality" and most importantly asking the question "What can my money do for me?". This book is targeted towards women and I honestly appreciated that considering so many financial guides are often defaulted towards men in business (while neglecting the fact that women have a big footprint, which Steinberg cites from statistics in this book on quite a few occasions). I appreciated also that this isn't a guide that felt lecturing or ever felt like it talked down to the audience.
One of my favorite contemporary guides to personal finance. The audiobook was wonderfully narrated by the author and I definitely see myself returning to this narrative - not just for the wealth of advice but also being inspired by Steinberg's story as well.
Overall score: 4.5/5 stars.
One of my favorite contemporary guides to personal finance. The audiobook was wonderfully narrated by the author and I definitely see myself returning to this narrative - not just for the wealth of advice but also being inspired by Steinberg's story as well.
Overall score: 4.5/5 stars.
April 7, 2017
It seems I have a lot to learn! Learning that I am worthy of being paid depending on your experience and expertise. Learning how to save and invest is an important practice. And practice it is.
This books takes us through your relationship with money. Many women ignore finances allowing their husbands to deal with it or just juggling bills, paycheck to paycheck.
Amanda Steinburg stresses to us that is a big mistake and I think we all know that. She believes everyone needs to understand how to build confidence when dealing with finances. And for many of us, myself included, understand that self-worth is valuing yourself when it come to money. Net worth is all about roots and wings.
I deal with the finances in my house because my husband is not great with money either. So combining the two of us means I’ll probably be working until we die. LOL – not! But I do want to change that.
This book outlines essential financial information and gives a load of advice on how women (and men!) of any age and income can create their own financial strength. She offers thoughtful exerecises and things to work through to understand where you are with your finances and spending.
The best of all is this book empowers women and teaches you money as a source of freedom, freedom from financial stress. Freedom to live how you want to and enjoy saving and spending in a way that brings you pleasure.
I learned a lot with this book. This is a resource that every single woman needs to read regardless of age. In fact, the earlier you read this the better. So gift a copy of this book to your high school graduates and college graduates this spring. It could be the best gift they ever got.
full review http://amidlifewife.com/worth-life-mo...
This books takes us through your relationship with money. Many women ignore finances allowing their husbands to deal with it or just juggling bills, paycheck to paycheck.
Amanda Steinburg stresses to us that is a big mistake and I think we all know that. She believes everyone needs to understand how to build confidence when dealing with finances. And for many of us, myself included, understand that self-worth is valuing yourself when it come to money. Net worth is all about roots and wings.
I deal with the finances in my house because my husband is not great with money either. So combining the two of us means I’ll probably be working until we die. LOL – not! But I do want to change that.
This book outlines essential financial information and gives a load of advice on how women (and men!) of any age and income can create their own financial strength. She offers thoughtful exerecises and things to work through to understand where you are with your finances and spending.
The best of all is this book empowers women and teaches you money as a source of freedom, freedom from financial stress. Freedom to live how you want to and enjoy saving and spending in a way that brings you pleasure.
I learned a lot with this book. This is a resource that every single woman needs to read regardless of age. In fact, the earlier you read this the better. So gift a copy of this book to your high school graduates and college graduates this spring. It could be the best gift they ever got.
full review http://amidlifewife.com/worth-life-mo...
February 28, 2017
OMG - so good.
Amanda explained very gently that I have essentially been in a money coma for most of my adult life. However it's never too late to wake up unpack your own money story, develop understanding and awareness of money.
This may well be my get out jail free card. I have attempted a number of money books but certain words and phrases have had me looking for the nearest bit of sand to dive my ostrich head in. Not this one she explains things in a way that for the first time ever I feel I have some tangible frameworks to become the saver I need to be.
Thank you Amanda!
Amanda explained very gently that I have essentially been in a money coma for most of my adult life. However it's never too late to wake up unpack your own money story, develop understanding and awareness of money.
This may well be my get out jail free card. I have attempted a number of money books but certain words and phrases have had me looking for the nearest bit of sand to dive my ostrich head in. Not this one she explains things in a way that for the first time ever I feel I have some tangible frameworks to become the saver I need to be.
Thank you Amanda!
September 2, 2017
I would call this book a "self-wealth" manual, and it was delightful.
Steinberg takes a refreshing look at the world of finances and encourages women of every wage, age, and spending history to take control of their financial lives now. With entertaining anecdotes from her own life to tips, tricks, and lists in each chapter to figure out the reader's money story, this book is both an entertaining read and super informative.
I'd recommend this book hands down to any gal looking to get better control of her money-story, take care of herself and her loved ones, and live a better, more empowered life. 3 thumbs up!
Steinberg takes a refreshing look at the world of finances and encourages women of every wage, age, and spending history to take control of their financial lives now. With entertaining anecdotes from her own life to tips, tricks, and lists in each chapter to figure out the reader's money story, this book is both an entertaining read and super informative.
I'd recommend this book hands down to any gal looking to get better control of her money-story, take care of herself and her loved ones, and live a better, more empowered life. 3 thumbs up!
September 17, 2017
I liked how this started with her own personal story, then she zeroed in on the differences women face in the working world, especially in the financial arena. I wasn’t sure I was going to like this focus. But she caught my attention, because it felt like she was talking about me. I was guilty of so much of what she was saying regarding women and finances. So I was completely in after that.
In one breath she was admitting her mistakes, then in the next breath offering advice. That was good and bad for me. I kept thinking she is offering me her experience, but then I'd ask myself whether I should trust her. She had some great practical advice, but some of this sounded out of my realm. By that I mean it is going to take more than a simple to do list to implement her suggestions. It would take a major mind shift. But the part about being in a coma regarding finances fits me. So she has nudged me awake. Definitely, there is plenty of food for thought in this book. So 4 stars.
In one breath she was admitting her mistakes, then in the next breath offering advice. That was good and bad for me. I kept thinking she is offering me her experience, but then I'd ask myself whether I should trust her. She had some great practical advice, but some of this sounded out of my realm. By that I mean it is going to take more than a simple to do list to implement her suggestions. It would take a major mind shift. But the part about being in a coma regarding finances fits me. So she has nudged me awake. Definitely, there is plenty of food for thought in this book. So 4 stars.
April 3, 2019
⭐️⭐️⭐️⭐️⭐️ - This is the best book on money, budgeting, and frankly real life knowledge I have ever read.
As an accountant, and the child of 2 tax CPAs, I have more general knowledge on this topic than the average person. I geek out on retirement and tax planning... I am not normal. But even I found this book VERY helpful.
I found the way the author laid out these topics easy to follow and also entertaining. I would recommend that every woman read this book, and frankly men as well.
As an accountant, and the child of 2 tax CPAs, I have more general knowledge on this topic than the average person. I geek out on retirement and tax planning... I am not normal. But even I found this book VERY helpful.
I found the way the author laid out these topics easy to follow and also entertaining. I would recommend that every woman read this book, and frankly men as well.
August 15, 2018
I have read quite a few books in the genre of (what I call) 'celebrity financial experts.' I'd say that Worth It stacks up pretty well. There isn't anything groundbreaking in here but the advice is solid and the information is all factually accurate (something I questioned with Real Money Answers by Patrice Washington).
Main points from Worth It
1. Saving is a habit. You won't save money unless you build good saving habits. Having more money will not help you so stop waiting until you get that raise/bonus/winning scratch ticket. Start saving now. Start very small and build.
2. Everyone needs financial roots, a foundation that will give you security and peace of mind, and financial wings, short-term reserves to use for living your life.
3. “Remember: Money is freedom. Being in control of how we manage money allows us to design and live the lives we want.”
4. “Emergency fund first. Debt second. Retirement third. Investments fourth.”
My Review
My biggest takeaway from Worth It was Steinberg's metaphor of financial roots and wings. I really liked the metaphor. She said that she heard it when she young and then she applied it to personal finance. I feel like the metaphor could have been done a bit better, but it was a great way to explain how people should approach their finances.
The idea is that everyone should have financial roots and wings. Roots are your safe, long-term investments. These are things that provide you with money and security (including mental security) even if something happens (e.g. you lose your job). Steinberg explained four main types of roots: retirement savings, investments, real estate, and starting your own business.
Steinberg explains all four kinds of roots and explains how not everyone should have all four. Everyone is in a different place and everyone has a different way of approaching their money. She describes this as your 'money type.' According to Steinberg, there are five money types. She has a quiz (and an online quiz) to help people find their money type. This is just a way to help people understand the ways they think about money and the ways they make financial decisions.
Meanwhile, Steinberg says everyone should also have financial wings. Wings represent your confidence to take calculated, financial risks and to help you grow. This is the fun stuff like spending money and short-term savings. She talks about budgeting (everyone's favorite!) but stresses that it isn't really about pinching pennies. I liked her ideas for shaking up your routines and saving money while also having some fun.
I also liked Steinberg's idea of having four nonnegotiables. These are things that you love and that you 'have' to spend money on. For example, I personally value my health and so spending money on a gym membership and fitness classes is nonnegotiable. I 'have' to have it. (She used a more fun example like spending on clothes or shoes.) She advises people to pick four nonnegotiable things and then view everything else as something you don't need to have.
The Verdict
If you're looking for financial help, I would recommend Worth It. Amanda Steinberg explains things clearly and gives the basic information you need. Her roots and wings metaphor provides a great way to think about your finances. There are some good sections with statistics and actionable advice to help women overcome some of the financial challenges they face in the U.S. The book is targeted at women, like all of Amanda Steinberg's work, but ultimately, I'd say the basic financial advice is useful whether you're a man or a woman.
Main points from Worth It
1. Saving is a habit. You won't save money unless you build good saving habits. Having more money will not help you so stop waiting until you get that raise/bonus/winning scratch ticket. Start saving now. Start very small and build.
2. Everyone needs financial roots, a foundation that will give you security and peace of mind, and financial wings, short-term reserves to use for living your life.
3. “Remember: Money is freedom. Being in control of how we manage money allows us to design and live the lives we want.”
4. “Emergency fund first. Debt second. Retirement third. Investments fourth.”
My Review
My biggest takeaway from Worth It was Steinberg's metaphor of financial roots and wings. I really liked the metaphor. She said that she heard it when she young and then she applied it to personal finance. I feel like the metaphor could have been done a bit better, but it was a great way to explain how people should approach their finances.
The idea is that everyone should have financial roots and wings. Roots are your safe, long-term investments. These are things that provide you with money and security (including mental security) even if something happens (e.g. you lose your job). Steinberg explained four main types of roots: retirement savings, investments, real estate, and starting your own business.
Steinberg explains all four kinds of roots and explains how not everyone should have all four. Everyone is in a different place and everyone has a different way of approaching their money. She describes this as your 'money type.' According to Steinberg, there are five money types. She has a quiz (and an online quiz) to help people find their money type. This is just a way to help people understand the ways they think about money and the ways they make financial decisions.
Meanwhile, Steinberg says everyone should also have financial wings. Wings represent your confidence to take calculated, financial risks and to help you grow. This is the fun stuff like spending money and short-term savings. She talks about budgeting (everyone's favorite!) but stresses that it isn't really about pinching pennies. I liked her ideas for shaking up your routines and saving money while also having some fun.
I also liked Steinberg's idea of having four nonnegotiables. These are things that you love and that you 'have' to spend money on. For example, I personally value my health and so spending money on a gym membership and fitness classes is nonnegotiable. I 'have' to have it. (She used a more fun example like spending on clothes or shoes.) She advises people to pick four nonnegotiable things and then view everything else as something you don't need to have.
The Verdict
If you're looking for financial help, I would recommend Worth It. Amanda Steinberg explains things clearly and gives the basic information you need. Her roots and wings metaphor provides a great way to think about your finances. There are some good sections with statistics and actionable advice to help women overcome some of the financial challenges they face in the U.S. The book is targeted at women, like all of Amanda Steinberg's work, but ultimately, I'd say the basic financial advice is useful whether you're a man or a woman.
July 31, 2018
This is a finance book, but it's not like most. So much of it is about our psychological approach to money, with some big picture money managements idea woven in. You don't need to be independently wealthy or planning for retirement to read this book. It's more inspiration than how-to, and as someone who doesn't own property, isn't close to retirement, and is equally as far from being broke and being wealthy, I felt like I got a lot out of it and it was totally worth the not even dry reading.
November 19, 2017
Hands down the best book for women wanting to take control of their finances. She breaks it down to simple steps. Would love a followup!
May 10, 2018
I'm not entirely sure why I borrowed this audiobook from our local library OverDrive website. Every once in awhile, I enjoy reading books about money and finance in order to reinforce my thoughts about our own investments, budget, and financial plan. So I suppose I must have put this book on hold with that thought in mind.
It is a good book and is likely to help people, especially young women, focus on the foundations of personal finance and avoid the traps of our over-commercialized consumption society. It's designed to help those who are starting out or are in trouble to start off on the right path. It's not really where I'm at. I have always internalized the principles that she espouses, and over the last 25+ years, it has served me well.
Concepts like living within your means, saving first, and investing using index funds and low-cost funds are second-nature to me and these are excellent principles to pass on to the next generation.
Indeed, I may have selected this book as one that may help our girls understand the basics of money. After listening to the author narrate it, I doubt they are at the point to really appreciate it, but I could be wrong.
As other reviewers have noted, I do appreciate her metaphors of roots and wings, showing how the potential to earn lots of money is great (wings), but it is just as important to have a solid foundation, with an eye on debt, net assets, and ensuring you live within your means (roots).
Also, I appreciated her definitions about five different 'Money Types,' defined by Dr. Jennifer Leigh Selig that we can belong to (often more than one type at any time). While these delineations have been given different names by others, finding out your relationship with money is important. I haven't gone on the website she mentions (http://www.moneytype.me/) to find out my breakdown because I know myself pretty well, but it is a site I will want to be able to refer to for others.
Other websites, like this one or this one, can help a person assess her relationship with money. And websites like this one can help people assess how they are doing with their personal financial plan. But often, meeting with a fee-only financial planner or employer-sponsored advisor may be the first step.
I am continuously thinking about teaching our girls about personal finance and how to increase their net worth slowly but steadily. We have taught them in fits and spurts about saving and spending concepts, but we have not really leapt into the world of investing. Now that they are teenagers, I know that it is time to do so.
interesting quotes (page numbers from paperback edition with ISBN13 9781501141003):
"Saving is the fire in your volcano. Saving keeps you out of debt and funds your roots. Saving is the secret weapon in your net worth." (p. 220)
"Staying engaged with your money is investing in yourself. You do it because you're worth it." (p. 245)
"Worth It: Six Daily Habits
1. Check in frequently: Is that your money story talking?
2. Prioritize saving over spending.
3. Live as far below your means as possible.
4. Get clear on what's most important to you - invest in that.
5. Make sure your net worth is trending in a positive direction.
6. Remember: curveballs are the norm." (p. 245)
I don't know if I'd call these daily habits, but the list should be reviewed regularly.
It is a good book and is likely to help people, especially young women, focus on the foundations of personal finance and avoid the traps of our over-commercialized consumption society. It's designed to help those who are starting out or are in trouble to start off on the right path. It's not really where I'm at. I have always internalized the principles that she espouses, and over the last 25+ years, it has served me well.
Concepts like living within your means, saving first, and investing using index funds and low-cost funds are second-nature to me and these are excellent principles to pass on to the next generation.
Indeed, I may have selected this book as one that may help our girls understand the basics of money. After listening to the author narrate it, I doubt they are at the point to really appreciate it, but I could be wrong.
As other reviewers have noted, I do appreciate her metaphors of roots and wings, showing how the potential to earn lots of money is great (wings), but it is just as important to have a solid foundation, with an eye on debt, net assets, and ensuring you live within your means (roots).
Also, I appreciated her definitions about five different 'Money Types,' defined by Dr. Jennifer Leigh Selig that we can belong to (often more than one type at any time). While these delineations have been given different names by others, finding out your relationship with money is important. I haven't gone on the website she mentions (http://www.moneytype.me/) to find out my breakdown because I know myself pretty well, but it is a site I will want to be able to refer to for others.
Other websites, like this one or this one, can help a person assess her relationship with money. And websites like this one can help people assess how they are doing with their personal financial plan. But often, meeting with a fee-only financial planner or employer-sponsored advisor may be the first step.
I am continuously thinking about teaching our girls about personal finance and how to increase their net worth slowly but steadily. We have taught them in fits and spurts about saving and spending concepts, but we have not really leapt into the world of investing. Now that they are teenagers, I know that it is time to do so.
interesting quotes (page numbers from paperback edition with ISBN13 9781501141003):
"Saving is the fire in your volcano. Saving keeps you out of debt and funds your roots. Saving is the secret weapon in your net worth." (p. 220)
"Staying engaged with your money is investing in yourself. You do it because you're worth it." (p. 245)
"Worth It: Six Daily Habits
1. Check in frequently: Is that your money story talking?
2. Prioritize saving over spending.
3. Live as far below your means as possible.
4. Get clear on what's most important to you - invest in that.
5. Make sure your net worth is trending in a positive direction.
6. Remember: curveballs are the norm." (p. 245)
I don't know if I'd call these daily habits, but the list should be reviewed regularly.
January 6, 2021
I liked the concept of "what is your money story telling you and how does that impede your life". I never got into the roots and wings metaphor.
Questions to suss out your money story:
"What's your earliest memory of money? Who had it? Who didn't have it? Where did it come from? Were you raised in a saving or spending mentality? Where do you think money should come from today (work, spouse/family, inheritance, investments)? How confident do you feel with each of the following aspects of managing your money: saving, spending, investing, earning, giving? Which one is strongest? Which one weakest? Where do you want to learn more? How much money do you think you have in relation to your friends and family? Do you have as much as your 'deserve'? How does that make you feel?"
Then: "Look at the messages you tell yourself about how you are with money. Write down as many things as you can think of that you often tell yourself about money in general or your money specifically.... Now look at your list and underline the negative beliefs you want to change."
(then she gives a bunch of phrases to see if you agree with. they're mainly in the quiz moneytype.me I took the test and found a few different things were strong in me - but mainly a producer.)
then: write down positive stories to tell yourself about your current situation. how true are they?
then: write down as many positive stories you want to be true.
"Identify your money beliefs. Affirm the good ones, release the outdated ones, and invent new ones. It's time to let go of anything you believe that leaves you feeling shameful, incompetent, used, or helpless."
"Sometimes it's just a matter of brainwashing yourself the way I did my telling myself I was a saver every time I dropped a coin in my kitchen jar. They're called story prompts - little edits that you can make to negative narratives in your mind to change your thinking."
"Stanford researchers found in the late 1980s that people who are urged to make mistakes early on in any learning process end up with heightened interest, persistence, and better performance."
"By surrounding yourself only with things you love you're always reminding yourself who you are and what you care about." (on Mari Kondo)
Questions to suss out your money story:
"What's your earliest memory of money? Who had it? Who didn't have it? Where did it come from? Were you raised in a saving or spending mentality? Where do you think money should come from today (work, spouse/family, inheritance, investments)? How confident do you feel with each of the following aspects of managing your money: saving, spending, investing, earning, giving? Which one is strongest? Which one weakest? Where do you want to learn more? How much money do you think you have in relation to your friends and family? Do you have as much as your 'deserve'? How does that make you feel?"
Then: "Look at the messages you tell yourself about how you are with money. Write down as many things as you can think of that you often tell yourself about money in general or your money specifically.... Now look at your list and underline the negative beliefs you want to change."
(then she gives a bunch of phrases to see if you agree with. they're mainly in the quiz moneytype.me I took the test and found a few different things were strong in me - but mainly a producer.)
then: write down positive stories to tell yourself about your current situation. how true are they?
then: write down as many positive stories you want to be true.
"Identify your money beliefs. Affirm the good ones, release the outdated ones, and invent new ones. It's time to let go of anything you believe that leaves you feeling shameful, incompetent, used, or helpless."
"Sometimes it's just a matter of brainwashing yourself the way I did my telling myself I was a saver every time I dropped a coin in my kitchen jar. They're called story prompts - little edits that you can make to negative narratives in your mind to change your thinking."
"Stanford researchers found in the late 1980s that people who are urged to make mistakes early on in any learning process end up with heightened interest, persistence, and better performance."
"By surrounding yourself only with things you love you're always reminding yourself who you are and what you care about." (on Mari Kondo)
January 23, 2021
I listened to the audio book and while I'm a male I have two daughters. Like the author I learned about finance and debt the hard way and by learning from mistakes made because my parents never taught me about money.
It wasn't until my late 20's that I learned by reading Suze Orman, Money Magazine, Jean Chatzky, The Richest Man in Babylon, and other books and magazines about finance, debt, and money management and this book is in that same category.
While the book is geared toward the female audience anyone can learn some things from this book. I did disagree with the author on one point and that is when she said sometimes it's not always smart to pay off your highest interest rate debts first.
I highly recommend this book and enjoyed listening to Amanda's life story, failures, lessons learned, and advice during the book. I will be recommending this book to my daughters to read or listen to.
It wasn't until my late 20's that I learned by reading Suze Orman, Money Magazine, Jean Chatzky, The Richest Man in Babylon, and other books and magazines about finance, debt, and money management and this book is in that same category.
While the book is geared toward the female audience anyone can learn some things from this book. I did disagree with the author on one point and that is when she said sometimes it's not always smart to pay off your highest interest rate debts first.
I highly recommend this book and enjoyed listening to Amanda's life story, failures, lessons learned, and advice during the book. I will be recommending this book to my daughters to read or listen to.
January 4, 2020
This is great book and personally I think a must read for women.
Its practical, probably more tailored towards USA market but the lessons are universal.
Mentiones savings, retirement, spending, spending types, money typing/personality etc.
The though love is the best part of it, its also the bit which empowers women and allows us to take finances in our hands.
If you have stryggled or wondered how to improve your money management, well this might be one of the books for you.
Its practical, probably more tailored towards USA market but the lessons are universal.
Mentiones savings, retirement, spending, spending types, money typing/personality etc.
The though love is the best part of it, its also the bit which empowers women and allows us to take finances in our hands.
If you have stryggled or wondered how to improve your money management, well this might be one of the books for you.
March 18, 2018
Great read that gives great insights into repairing questionable relationships with money. Though it was written specifically for women, men would also benefit from reading it.
April 18, 2018
Never thought such a hard topics like this (for me) could be digested rather easily. Amanda is so inspiring, controlling her finance that leads to a better life. Yet, just spent some money on things i might not need >.<. Planning to do stuff and mindset i learned from the book. However this book mostly talk about the system in the us such as 401(k) and IRA. Need to look for more info for equal system in my own country. Regardless, it is such a fun and insightful reads!
September 1, 2018
Really loved this book! I would recommend any woman to pick it up
November 21, 2017
Steinberg gives easy to understand explanations, relatable examples, and clear and actionable advice concerning personal finances and net worth.
I feel myself already thinking about my finances differently. I see now the unhelpful money stories I was telling myself that were preventing me from saving. No more money comas.
She advocates for a hard look at yourself, but somehow this ends up being inspiring rather than dispiriting.
I feel myself already thinking about my finances differently. I see now the unhelpful money stories I was telling myself that were preventing me from saving. No more money comas.
She advocates for a hard look at yourself, but somehow this ends up being inspiring rather than dispiriting.
November 14, 2017
It is estimated that women currently control 50 percent or USD 14 trillion of personal wealth in the US and are expected to control USD 22 trillion by 2020.
Shocking? I know.
But what is even more shocking is the way that women are not taking full advantage of this influential position to make an even greater global impact.
In light of this and other statistics, Amanda Steinberg was motivated to invest in women. We journey with her through her own life and her relationship with money. Being a serial entrepreneur, she was eventually moved to create personal finance website, Daily Worth to help fellow women address their biggest money issues: having financial safety nets, financial literacy, life investments and being a classic underearner.
At the heart of her book, Amanda focuses on the importance of understanding one's money story -one's unconscious beliefs about money-how you should earn it, what it means to want it and what it means to have a lot or a little. For Amanda, she believes that the root of all our money problems is using not adapting our personal narrative to the different stages of our lives:
Having a particular story or money memory will influence how you handle money as an adult. In Ms Steinberg's case, her parents' divorce as a child and her mother's struggle to keep her and her siblings afloat made her serial entrepreneur and inspired her to support women struggling with personal finance issues. Hence, being in touch with your money story will enable you to understand your self-worth and propel you to achieve financial independence and build your net worth.
From her experience, she has seen a lot of women allowing other people to handle one's money that leaves them in a vulnerable position and they end up in a money coma. Amanda says:
To snap out of a money coma, women will have to educate themselves on money issues, be willing to live way below their means but not shy away from negotiating her salaries and wages. In addition, they will have to save enough in the emergency funds and carefully consider their "root" life investments such as businesses and mortgages
Honestly, it has been a quite a while since I have taken copious notes from a personal finance/self-help book. I enjoyed her anecdotes when she made the case for the different investing options especially her unconventional thoughts on home ownership. Steinberg addresses pertinent issues without bogging down the reader with heavy technical terms. Though, this book is basically geared to a US-based audience since she stresses the importance of retirement accounts like 401 (k) but one can basically it adapt it to one's national situation.
This book would be a great read for women who need a mental shift in personal finances.
Shocking? I know.
But what is even more shocking is the way that women are not taking full advantage of this influential position to make an even greater global impact.
In light of this and other statistics, Amanda Steinberg was motivated to invest in women. We journey with her through her own life and her relationship with money. Being a serial entrepreneur, she was eventually moved to create personal finance website, Daily Worth to help fellow women address their biggest money issues: having financial safety nets, financial literacy, life investments and being a classic underearner.
At the heart of her book, Amanda focuses on the importance of understanding one's money story -one's unconscious beliefs about money-how you should earn it, what it means to want it and what it means to have a lot or a little. For Amanda, she believes that the root of all our money problems is using not adapting our personal narrative to the different stages of our lives:
...I had been following the personal narrative I'd written in adolescence but I hadn't edited it for adulthood. I hadn't listened when my inner wisdom was cueing me to shift focus, to re-engineer the arc of my story to form a bridge to authentic freedom-not a slide to self-destruction. ...
Having a particular story or money memory will influence how you handle money as an adult. In Ms Steinberg's case, her parents' divorce as a child and her mother's struggle to keep her and her siblings afloat made her serial entrepreneur and inspired her to support women struggling with personal finance issues. Hence, being in touch with your money story will enable you to understand your self-worth and propel you to achieve financial independence and build your net worth.
From her experience, she has seen a lot of women allowing other people to handle one's money that leaves them in a vulnerable position and they end up in a money coma. Amanda says:
...Your freedom and "sovereignty", your dreams and security are in the balance, Lulling you into a deep daze, your money coma makes it seem totally okay to drop out of the game. It's not when you're in that daze, you're going to make decisions that do not prioritise your highest good, They are going to come from a place of fear, desperation or plain unconsciousness. Plus, staying in a money coma does not protect us. It leaves us vulnerable....
To snap out of a money coma, women will have to educate themselves on money issues, be willing to live way below their means but not shy away from negotiating her salaries and wages. In addition, they will have to save enough in the emergency funds and carefully consider their "root" life investments such as businesses and mortgages
Honestly, it has been a quite a while since I have taken copious notes from a personal finance/self-help book. I enjoyed her anecdotes when she made the case for the different investing options especially her unconventional thoughts on home ownership. Steinberg addresses pertinent issues without bogging down the reader with heavy technical terms. Though, this book is basically geared to a US-based audience since she stresses the importance of retirement accounts like 401 (k) but one can basically it adapt it to one's national situation.
This book would be a great read for women who need a mental shift in personal finances.
February 22, 2017
This book is a great resource for younger women concerned about money. I did think the author's suggestions were valuable and could be used by those just starting out and those of us that want to increase our savings without trying to stick to an impossible budget.
January 11, 2018
I've not finished reading it yet but I will say this: I wish I had read this when I was in my early twenties. Chock full of advice that my father told me but my twenty-self chose to ignore. The author also explains some financial concepts in ways that are easy to understand, and gives data and examples of how women are shortchanged (ha) when it comes to making financial decisions but shares us options how we can overcome, all in relatable ways. This is gold, and a book I will be handing out to all of female friends who are starting out in the working world.
Thank you, Ms. Steinberg, for giving me a way out of my money coma.
Thank you, Ms. Steinberg, for giving me a way out of my money coma.
May 15, 2017
Calling all Women - you have to read this book .
I've read many books about money - your money story, how to manifest it, how to break through your upper limits - but this just cuts to the chase and brings it down to reality and action. It's about really understanding the actions we need to take to strengthen our relationship and have great connections with money. I highly recommend it.
I've already dug out my pension details to see how I can improve its performance and what actions I need to take.... And a massive thank you to @jen.turrell for the book recommend - Keep 'em coming ❤
I've read many books about money - your money story, how to manifest it, how to break through your upper limits - but this just cuts to the chase and brings it down to reality and action. It's about really understanding the actions we need to take to strengthen our relationship and have great connections with money. I highly recommend it.
I've already dug out my pension details to see how I can improve its performance and what actions I need to take.... And a massive thank you to @jen.turrell for the book recommend - Keep 'em coming ❤
June 29, 2018
I'll start by sharing I've read a lot of books about money and our relationship to it. I loved this book as it combines some of the best information from all the books I've read to date and it has some new things I needed to learn. Amanda Steinberg stresses focusing on positive net worth, not just increasing your income. She also has tips for saving and living below your means...both key skills to getting a handle on your money! Here's to financial freedom through mastering our money!
June 30, 2018
Great book! I knew absolutely nothing about finances, and am so so grateful for wonderful people like Amanda who are putting this information out there to help us! Amanda does a a great job explaining terms without being too technical. The book is anything but boring as she weaves personal anecdotes and success stories of other women. I HIGHLY HIGHLY recommend this book especially to young women.
June 27, 2018
Worth the read? meh. This is aimed toward women and does address some social expectations while talking about money. It's really does encourage women to not slip into a money coma (love this term, btw) and take charge of their finances. I think some points it was encouraging...although, I would look towards other books for further financial advise. ~Ashley
February 20, 2017
Every woman should read this! I've been a fan of Steinberg's & Daily Worth for years. She does a great job of breaking down how important it is for women to stay engaged when it comes to how they spend money & growing wealth.
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