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The Smart Cookies' Guide to Making More Dough and Getting Out of Debt: How Five Young Women Got Smart, Formed a Money Group, and Took Control of Their Finances
Now more than ever it’s crucial to eliminate debt, spend smarter, save better, and achieve financial freedom—without sacrificing your social life or your sanity!
Let The Smart Cookies show you how.…
They were five dynamic young women: smart, successful—and secretly drowning in debt. In one year Andrea, Angela, Katie, Robyn, and Sandra dramatically improved their financial situations. Their proven recipe for success has since been featured on The Oprah Winfrey Show, the Today show, MSNBC, and in the New York Daily News.
How did they do it?
The five women—with varied careers in marketing, public relations, social work, and real estate—joined forces to create a fun, simple, effective strategy for achieving financial success, forming a money group and supporting one another every step of the way. Now, in this extraordinary hands-on guide, The Smart Cookies tackle the unique financial challenges facing women today as they share the secrets of their extraordinary success. Learn how to:
•Save money and still make room for “guilt-free spending”
•Have a Girls Night In once a week—and save hundreds each year
•Splurge on big-ticket items—without breaking the bank
•Invest like a pro—in just a few short lessons
•Get paid what you’re worth—step-by-step instructions for negotiating the best raise
•Discover easy ways to cut costs—without feeling the pinch And much, much more!
272 pages, Paperback
First published January 1, 2008
18 people are currently reading
183 people want to read
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Displaying 1 - 30 of 56 reviews
September 10, 2010
This one is about a bunch of rich girls paying off their credit cards. It didn't have a ton of substance, though I imagine a certain (small) segment of the female population might identify with it. I found myself thinking things like, "Really? You had to pare down your monthly clothing allowance to $200? Poor princess."
May 15, 2021
fast read - a bit outdated now but not much. Also a little heavy on the budgeting but really drove home that every cent you spend is a reflection of what you want and are working toward and how you chose to show up for yourself/ honor your goals.
the best part for me was really about imagining your ideal day/week/ year and then doing what you can to move toward it - tangible steps.
the best part for me was really about imagining your ideal day/week/ year and then doing what you can to move toward it - tangible steps.
December 13, 2020
Canadian edition. This book takes what seems like tough financial concepts and makes them easy to understand. Nothing new or groundbreaking, but the idea of a money support group helped these women to change their lives.
June 18, 2021
I owned and read this in 2008; a re-read or rather a skim through.
It's dated with ideas that aren't new, but a refresher.
It's dated with ideas that aren't new, but a refresher.
January 3, 2009
I was nearly 2/3 of the way through this book before I finally decided I had had enough. It was boring, and I could never keep the names of the five ladies and their stories straight. I should have just jumped to the investing portion at the end of the book (the reason I picked it up in the first place) instead of having to drop it before I could even imagine getting through to that part.
Maybe if your young, single, and only have to think about "#1" this book might appeal to you.
Maybe if your young, single, and only have to think about "#1" this book might appeal to you.
January 24, 2009
Yes, it was an investment book aimed at women. My parents gave it to us for xmas. The first half of the book talks about general savings strategies and tips. It's decent, logical, easy-to-implement advice. The second half gets into more technical topics (what to spend on a house, 401k, mutual funds, etc). And that part sucks - they try to make it simple but it ends up being oversimplified yet still confusing.
December 18, 2008
This book is depressing. It's all about how to save money by not doing things like buying $200 jeans or getting Starbucks everyday. Yeah, that's really helpful for me. I wash and reuse ziploc baggies, for pete's sake! This book is actually making me feel poor and like I need to go on a big shopping spree because that's apparently what women my age do. Bah!
December 8, 2008
more tips like, "eat at home more!" and "buy all your clothes on ebay!" It's like, I NEED REAL HELP AND THIS ISN'T IT. In other news, can I borrow some money?
June 22, 2014
Some good ideas and strategies, but nothing earth shattering. This was a library book so it was a valuable read, as it didn't cost anything.
January 30, 2022
They talk candidly about their experiences shooting for their financial dreams and do not make speeches. The attitude of the book is simple, we had financial difficulties, too. This is what we did about it. You can do the same. Within its pages, the book contains advice on how to save more, make more and live more. It starts with exercises and worksheets that give the reader an idea of what holds his or her dreams beneath the pile of debt and negatives. The book is accompanied by a website and online community to join. While it is not what I usually read, I recommend the book because of the authors' positive message.
January 22, 2018
great for a basic idea on how to build your wealth short term and long term. Doesn’t go into too much detail, but the examples for the spending limits, etc (which they did specify varies with everyone) were very laughable, 100$ a week for spending allowance was one of theirs. Basically good for ideas on what I said earlier, short term and long term wealth.
This entire review has been hidden because of spoilers.
June 17, 2021
This is only useful when you're married and need to pay off your debt/credit card bills.
The investment information (the nitty gritty details) are outdated but it's a definite starter if you're in a pickle with your financial problems.
The investment information (the nitty gritty details) are outdated but it's a definite starter if you're in a pickle with your financial problems.
August 11, 2021
I read quite a few finance books and always pick up a few tips. I really like the idea of women working together for common financial goals.
December 28, 2008
Just finished this last night...and I have mixed feelings about this book.
It's written in easy language to understand--the authors certainly cut through the acronyms and confusion of the financial world, and give good analogies (but some were a little too "Shopaholic" for me).
A lot of the advice could be seen as common sense for those of us who've been out in the real world for a long time, or for those who've done a lot of financial advice-reading/research. You know, the "don't spend more than you make" stuff or the "don't use credit cards if you can't pay the balance in full" line. But what I did like was that they really broke down certain investment and real estate terms. Women are statistically less likely than men to invest or buy real estate, so I think it was really important that the authors touched on these two areas. Which coincidentally are the ones that I needed most help with!
Obviously, this book was written before the most recent economic downturn, which is frustrating when the advice tells you to ask for a raise, or to go back to school and switch fields. That's not the fault of the authors--and this might be useful help when/if the economy picks itself back up.
On a personal note, what frustrated me the most (and this was going on before I read the book) is that there's no help for those of us who make an "ehh" salary, don't have any debt, but still can't save. I guess there's really no help/advice for that...except finding a higher paying job and/or switching fields. (Note to self: see above paragraph about when the economy gets better)
One thing I discovered was that the authors (all 5 of them) are Canadian, and while I read the US edition of the book, I'm sure a lot of their financial success and job switching comes from the fact that they don't have to worry about health insurance. It was easier for them, I'm sure, to start new businesses or jump from job to job when employer-based health insurance isn't something that they were concerned with.
It's written in easy language to understand--the authors certainly cut through the acronyms and confusion of the financial world, and give good analogies (but some were a little too "Shopaholic" for me).
A lot of the advice could be seen as common sense for those of us who've been out in the real world for a long time, or for those who've done a lot of financial advice-reading/research. You know, the "don't spend more than you make" stuff or the "don't use credit cards if you can't pay the balance in full" line. But what I did like was that they really broke down certain investment and real estate terms. Women are statistically less likely than men to invest or buy real estate, so I think it was really important that the authors touched on these two areas. Which coincidentally are the ones that I needed most help with!
Obviously, this book was written before the most recent economic downturn, which is frustrating when the advice tells you to ask for a raise, or to go back to school and switch fields. That's not the fault of the authors--and this might be useful help when/if the economy picks itself back up.
On a personal note, what frustrated me the most (and this was going on before I read the book) is that there's no help for those of us who make an "ehh" salary, don't have any debt, but still can't save. I guess there's really no help/advice for that...except finding a higher paying job and/or switching fields. (Note to self: see above paragraph about when the economy gets better)
One thing I discovered was that the authors (all 5 of them) are Canadian, and while I read the US edition of the book, I'm sure a lot of their financial success and job switching comes from the fact that they don't have to worry about health insurance. It was easier for them, I'm sure, to start new businesses or jump from job to job when employer-based health insurance isn't something that they were concerned with.
August 13, 2012
Although this book was published in 2008, it already feels dated. Published just as the housing and financial markets started to burn, the book does make some acknowledgments of the impending crisis. But much of the advice relies on the advantages that came in the bubble times in the run-up to the market crash of 2008 - 2009. While there is some decent advice for anyone with limited knowledge in the area of financial planning, budgeting and investing, some of the advice is misguided or just plain wrong. Encouraging people to get a HELOC to pay off credit card debt? That's a terrible idea. Promoting real estate as an easy way to get wealthy? Another idea that probably worked well in the mid-2000s but now has fallen into disfavor.
While much of the book is breezy and light, the chapter on investing manages to be dense and I suspect, indecipherable to those with little or no knowledge of the various ways to invest your money. There's many good books that explain the details of investing without losing you as a reader. This book isn't one of them. It also glosses over the need to save for retirement. While it's referenced several times, the authors give you no sense of how much you should be saving. In fact, some of the examples might make sense for someone starting their first real job out of college. But for anyone else, the amounts are simply too low.
While I appreciated the effort to pitch the topic of personal finance to young professional woman starting out in the world, it's effort to be hip and friendly sacrifices or glosses over too many important details. Smart young women deserve better and they can find better alternatives among the stacks of personal finance books.
While much of the book is breezy and light, the chapter on investing manages to be dense and I suspect, indecipherable to those with little or no knowledge of the various ways to invest your money. There's many good books that explain the details of investing without losing you as a reader. This book isn't one of them. It also glosses over the need to save for retirement. While it's referenced several times, the authors give you no sense of how much you should be saving. In fact, some of the examples might make sense for someone starting their first real job out of college. But for anyone else, the amounts are simply too low.
While I appreciated the effort to pitch the topic of personal finance to young professional woman starting out in the world, it's effort to be hip and friendly sacrifices or glosses over too many important details. Smart young women deserve better and they can find better alternatives among the stacks of personal finance books.
November 24, 2008
I’d seen the Smart Cookies last year when they were on Oprah and I’d heard an interview with them on Jean Chatzky’s satellite radio show (before programming changes moved it from 5pm (darn XM). So when this came across my desk I grabbed it. I’m all about women, financial information, and empowerment. And this book offers all three in high doses.
I’ve read a lot of money management books and what makes this book different is the perspective of the “smart cookies.” They augment their practical information with their personal stories of how they actually did it, and this makes the book more powerful and real than some written by the “experts.” (nothing against them - I love my personal finances gurus - Suze, Jean, Dave). The other unique thing is the practical guide in the last chapter to forming your own money group.
All in all I’d highly recommend this to any young woman in her 20’s or 30’s - in fact a few of my cousins might receive it as a gift this year! Visit the authors web site for more information.
I’ve read a lot of money management books and what makes this book different is the perspective of the “smart cookies.” They augment their practical information with their personal stories of how they actually did it, and this makes the book more powerful and real than some written by the “experts.” (nothing against them - I love my personal finances gurus - Suze, Jean, Dave). The other unique thing is the practical guide in the last chapter to forming your own money group.
All in all I’d highly recommend this to any young woman in her 20’s or 30’s - in fact a few of my cousins might receive it as a gift this year! Visit the authors web site for more information.
February 6, 2009
The best think I took away from this book was that women don't talk about money. And we should. I think its true - we talk about everything else but I have never discussed retirements or investments with a girlfriend and only know the salary amounts of 1 or 2 people. Why are we all so hesitant to talk about this subject?
The other interesting idea was that they formed a money group of 5 girls who got together on a regular basis to provide support, encouragement and advice in achieving financial goals. I think this is a good idea - I know I would be interested in doing this with friends.
Anyway, the rest of the book was not that helpful if you are already on a budget. If you currently blow hundreds of dollars on designer clothes and have a credit-card debt to match this book might suit you. However, I thought that Smart Women Finish Rich was far superior.
The other interesting idea was that they formed a money group of 5 girls who got together on a regular basis to provide support, encouragement and advice in achieving financial goals. I think this is a good idea - I know I would be interested in doing this with friends.
Anyway, the rest of the book was not that helpful if you are already on a budget. If you currently blow hundreds of dollars on designer clothes and have a credit-card debt to match this book might suit you. However, I thought that Smart Women Finish Rich was far superior.
January 16, 2010
Picked this up on a whim at the library The suggestions for using your social network to improve your spending and saving habits were great, as was the chapter specifically on making more money.
But for a book designed to help women form better financial habits, talking about shopping on practically every page is not helpful. It wasn't that the five women profiled had especially materialistic goals (we all have some of those) but sometimes its tips seemed to focus more on saving money in order to immediately spend it, than to consider the larger picture. And some women aren't primarily motivated by "OMG, shopping!" (Stereotypes are bad.)
I'd recommend Ramit Sethi's I WILL TEACH YOU TO BE RICH instead. It's more jokey -- for an idea of the tone, check out his blog (of the same name) -- but brought across the idea of prioritizing your spending in a much less condescending way.
But for a book designed to help women form better financial habits, talking about shopping on practically every page is not helpful. It wasn't that the five women profiled had especially materialistic goals (we all have some of those) but sometimes its tips seemed to focus more on saving money in order to immediately spend it, than to consider the larger picture. And some women aren't primarily motivated by "OMG, shopping!" (Stereotypes are bad.)
I'd recommend Ramit Sethi's I WILL TEACH YOU TO BE RICH instead. It's more jokey -- for an idea of the tone, check out his blog (of the same name) -- but brought across the idea of prioritizing your spending in a much less condescending way.
April 25, 2013
This book definitely targets a certain niche, and they are very clear about it. If you are a young, upwardly mobile woman (20-something), this book is for you. However, if you in any other stage of life, it isn't as good. The *principles* work for anyone, but the examples could be discouraging to someone making under $30K -$75K with children. One worthwhile principle it teaches is to figure out where you money is going and then see if that matches up with your dreams. If it doesn't, you have to decide if the job or the dreams is more important and then change your path. More young people need to look at that closely (and some older ones too!)
Another good piece of advice is to track your money for 3 months to see where it is actually going. This is essential!!!
Another good piece of advice is to track your money for 3 months to see where it is actually going. This is essential!!!
June 18, 2021
Good financial read for those looking to set good financial habits when starting out in life. Some favorite passages:
"This is about living your best life right at this moment and every day. Remember that with each passing hour, you're that much closer to the life of your dreams."
"Advertisers would love you to believe that having an apartment filled with high end furniture made by their client will bring you joy. Sales people don't care whether or not you can really afford the product they're pushing on you or whether you have to max out your cards to make that purchase."
"You can cut back wherever you want, so that you have the money to do those things that are truly important to you. It is just a matter of prioritizing how you spend your money, not being cheap."
"This is about living your best life right at this moment and every day. Remember that with each passing hour, you're that much closer to the life of your dreams."
"Advertisers would love you to believe that having an apartment filled with high end furniture made by their client will bring you joy. Sales people don't care whether or not you can really afford the product they're pushing on you or whether you have to max out your cards to make that purchase."
"You can cut back wherever you want, so that you have the money to do those things that are truly important to you. It is just a matter of prioritizing how you spend your money, not being cheap."
October 11, 2009
Ok, unless you know nothing about personal finances then this book is not for you. I guess most women don't know how much they send, or how to make a budget. This book is about how to start all of that. But if you are someone who already makes a monthly budget and wants to learn to penny pinch, or more about how to do retirement savings this is not for you. Plus if you already have a family and kids then you are already out because this book does not address children in anyway. A money club is a great idea. Pool your resources, as a group pay off debt and get savings by saving and doing everything together. But if you are not in a money group don't waste your money.
May 13, 2011
These ladies are money savvy and good at writing about it, but it's so impractical for anyone who doesn't earn more than $50,000 a year. The writers earn lots of money (like $80,000) and while they're good at saving, it's easy to save if you earn a lot. One couple now budgets $800 per month for eating out and gifts for others. Per MONTH! One lady still spends $200 per month on clothes. And they're just like, "Well, get more education and move up at work! Or start your own company!" I guess they don't work for not-for-profits, eh? This book made me feel extremely depressed instead of empowered.
February 26, 2009
Cute little book- mostly targeted towards a young single or young married woman in her 20's or early 30's. I thought there was a lot of good info here about cutting spending and getting out of debt and making some good first decisions about housing and investments. I think the best idea from this book is to form your own money group with those who are in similar financial situation to provide encouragement and share tips with each other. It has certainly done wonders for this group of women!
November 2, 2015
Although the financial information is dated, this readable book is geared towards 20-somethings who know nothing about money except how to use credit cards. The "smart cookies" tactic is to form a money group to provide help and support as each person works through their money issues. Money issues include smart spending, debt reduction, extra income, investing, and home buying. Their website, www.smartcookies.com, is still viable with additional information and two other books to purchase -- one for couples and the other for Canadians. A good beginner title for the new adult in your life.
October 12, 2016
What a great concept for a book! Every young woman should read this. We tend to feel that we are alone in our money problems, but there is always someone else in the same boat as us. If only we could have enough balls to connect with others and use each others stories of success and failure to help improve our own financial situations. These ladies helped themselves and each other by forming their group, and got out of the financial ruts they were in, made new friends and have helped others by sharing their stories. Loved it!
April 28, 2009
I enjoyed this book. I felt like I was listening in on a group of fabulous contemporaries chat about how you don't have to sacrifice style or "fun stuff" as you work through your debt issues in realistic and effective ways. I don't think there was anything earth-shatteringly new or different in the their tips or techniques, but the delivery just clicked for me. (I think I might buy this book, which for me says a lot!)
October 23, 2008
It is a decent book but unless you are living a high society life of buying expensive clothing and going out for high priced drinks then it doesn't really apply that directly. There are some good tips for saving and cutting back and some practical advice to help you control your impulse purchasing that I can see being useful though. Also it is Canadian content so it is applicable.
March 26, 2009
This book wasn't for me. I could see it being helpful if you have a lot of debt, or are having problems keeping up with the bills. I was hoping for more information about what to do with your investments now that you have them. The writing was very straightforward and the ideas were easy to understand.
February 28, 2009
The exercises in this book are well worth doing.
I am attempting to pick my 3 people at the moment. As a shopaholic, I need to stop this behavior and curtail to things that I really want. I would recommend this book to everyone. I think there is some valuable information in this book to be learned.
I am attempting to pick my 3 people at the moment. As a shopaholic, I need to stop this behavior and curtail to things that I really want. I would recommend this book to everyone. I think there is some valuable information in this book to be learned.
May 27, 2009
After I got over the fact that these girls were totally awesome and they had indeed paid off a mountain of debt, I realized that these girls made more in a year than I make in two. It was kind of depressing to hear that one of those ladies spent her months worth of earnings on clothes alone. I did learn a few tips.
Displaying 1 - 30 of 56 reviews