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Spend Well, Live Rich (previously published as 7 Money Mantras for a Richer Life): How to Get What You Want with the Money You Have
The best financial planner Michelle Singletary ever knew was Big Mama, her grandmother. Big Mama raised Michelle and her four brothers and sisters on a salary that never reached more than $13,000 a year. Yet at her death, Big Mama owned her own home, had paid off a car loan, and had a beautiful collection of Sunday-go-to-meeting church hats and a savings account that supplemented her Social Security check and small pension. Most important, she had taught Michelle “7 Money Mantras for a Richer Life.” Those mantras serve as the inspiration for this straight-talking book of practical personal financial advice that really works.
The 7 Money Mantras
1. If it’ s on your ass, it’s not an asset!
2. Is this a need or is it a want?
3. Sweat the small stuff.
4. Cash is better than credit.
5. Keep it simple.
6. Priorities lead to prosperity.
7. Enough is enough.
Michelle Singletary is a syndicated columnist for The Washington Post whose popular personal finance column appears in more than 120 newspapers. She’s also a mother of three children who understands what it’s like to live on a budget. In a plainspoken, sassy, no-nonsense voice, Michelle provides answers to the financial issues that confront almost every how to teach children the value of money; how to address money issues in a relationship or marriage; household saving tips; getting the best loans; and much more.
“This book is about saving enough money to have choices,” she writes. “It’s about feeling free to be cheap if you can’t afford to buy a ton of gifts at Christmas. It’s about eliminating wasteful spend-ing so you can begin to save and invest. It’s full of uncommon commonsense lessons and guidance on the way people should use their money.”
With humor and down-home financial wisdom, Michelle Singletary offers practical and realistic advice that will help you live well with the money you have.
Michelle Singletary on . . .
Romance and Money
“It’s okay to ‘Honey, I love you and everything, but if you need money, ask your mama.’”
Credit Cards
“We are minimizing our financial potential by making minimum credit-card payments.”
Car Buying
“If you want to save money, keep your car until you’re on a first-name basis with the local tow-truck drivers.”
Leasing a Car
“You, too, can drive a car you can’t afford and then have to give it back. It’s crazy.”
Gift Giving
“Generosity isn’t about how much you spend. It’s about how much thought you put into the gift.”
Penny Pinching
“I once bought a stick-shift car because it was $1,000 cheaper than the automatic in the same model. There was just one little problem. I couldn’t drive a stick-shift. But at least I saved $1,000!”
The 7 Money Mantras
1. If it’ s on your ass, it’s not an asset!
2. Is this a need or is it a want?
3. Sweat the small stuff.
4. Cash is better than credit.
5. Keep it simple.
6. Priorities lead to prosperity.
7. Enough is enough.
Michelle Singletary is a syndicated columnist for The Washington Post whose popular personal finance column appears in more than 120 newspapers. She’s also a mother of three children who understands what it’s like to live on a budget. In a plainspoken, sassy, no-nonsense voice, Michelle provides answers to the financial issues that confront almost every how to teach children the value of money; how to address money issues in a relationship or marriage; household saving tips; getting the best loans; and much more.
“This book is about saving enough money to have choices,” she writes. “It’s about feeling free to be cheap if you can’t afford to buy a ton of gifts at Christmas. It’s about eliminating wasteful spend-ing so you can begin to save and invest. It’s full of uncommon commonsense lessons and guidance on the way people should use their money.”
With humor and down-home financial wisdom, Michelle Singletary offers practical and realistic advice that will help you live well with the money you have.
Michelle Singletary on . . .
Romance and Money
“It’s okay to ‘Honey, I love you and everything, but if you need money, ask your mama.’”
Credit Cards
“We are minimizing our financial potential by making minimum credit-card payments.”
Car Buying
“If you want to save money, keep your car until you’re on a first-name basis with the local tow-truck drivers.”
Leasing a Car
“You, too, can drive a car you can’t afford and then have to give it back. It’s crazy.”
Gift Giving
“Generosity isn’t about how much you spend. It’s about how much thought you put into the gift.”
Penny Pinching
“I once bought a stick-shift car because it was $1,000 cheaper than the automatic in the same model. There was just one little problem. I couldn’t drive a stick-shift. But at least I saved $1,000!”
288 pages, Paperback
First published January 1, 2003
26 people are currently reading
538 people want to read
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Displaying 1 - 30 of 30 reviews
May 5, 2013
This book promises to be as useful to me as Smart Cookies was not. The advice on page 9 to keep a spending journal cracks me up! The author writes, "Whenever you're tempted to go shopping, write down why before you go. Write down how it will make you feel to add more debt to your credit card. Write down what's motivating you to spend the money. Are you stressed about something at work? Are your children getting on your last nerve? Has your spouse ticked you off? Putting your thoughts to paper has a way of making you think about your actions." Even if you aren't actually using a credit card, I think this is an awesome idea!
Oh and how's this one? "Remember that when you use your credit card you are getting a loan. Each time you reach for your credit card, ask yourself if you would go into a bank branch and ask for a loan for . . . . a shirt and a pair of pants . . . . bath beads . . . . your tenth pair of pumps?" This is laugh out loud funny . . . except it's not.
Oh and how's this one? "Remember that when you use your credit card you are getting a loan. Each time you reach for your credit card, ask yourself if you would go into a bank branch and ask for a loan for . . . . a shirt and a pair of pants . . . . bath beads . . . . your tenth pair of pumps?" This is laugh out loud funny . . . except it's not.
Read
November 19, 2024EVERYONE needs to read this book!
A LOT of the statistics are outdated, but, if you compare them to today, they're still trending how they're shown in the book. And they still prove her points.
I grabbed this book due to my being ADHD and having issues with impulsive spending. I'd like to say "in the past", but there are times I've put money on a Kickstarter project, went, "The fuck are you doing? You're unemployed and need to save the unemployment money!" and then cancelled the pledge.
Or I'll see an ad on social media and go, "Oooo!... Wait..."
While there was no set of instructions on how to curb impulse spending, the book didn't need it. Questions were asked instead.
It, basically, boiled down to, "What are your financial goals?"
My partner is worried we'll be working into our 70s; we don't want that.
We want to be living in a house, so we can adopt kids.
We need to be saving for the kids education.
I don't want to worry about money my entire life. I want to have enough money to have fun guilt-free.
These are needs and wants.
10/10
A LOT of the statistics are outdated, but, if you compare them to today, they're still trending how they're shown in the book. And they still prove her points.
I grabbed this book due to my being ADHD and having issues with impulsive spending. I'd like to say "in the past", but there are times I've put money on a Kickstarter project, went, "The fuck are you doing? You're unemployed and need to save the unemployment money!" and then cancelled the pledge.
Or I'll see an ad on social media and go, "Oooo!... Wait..."
While there was no set of instructions on how to curb impulse spending, the book didn't need it. Questions were asked instead.
It, basically, boiled down to, "What are your financial goals?"
My partner is worried we'll be working into our 70s; we don't want that.
We want to be living in a house, so we can adopt kids.
We need to be saving for the kids education.
I don't want to worry about money my entire life. I want to have enough money to have fun guilt-free.
These are needs and wants.
10/10
January 11, 2009
This book was filled with great tips that have helped me change how I work my financial business.
A must read!
A must read!
February 1, 2015
Love the simplicity of this book. I also love that she gives recommendations for how to go about doing things. The book was written a while ago but many things are still applicable
January 22, 2023
Well-written and easy to read, but simplistic and outdated. I picked up this book because the au5hor is coming to speak at my campus and I wanted to know more about her teachings. I already do most everything she talks about - as a single mom raising two boys on a gross salary of $30,000, it’s not an option! I disagree about some of her advice. I pay for everything on credit because I get cash back on purchases, but I also pay the credit card right after the purchase so that I don’t have a balance. It actually gives me a 2% discount with the cash back and it builds your credit rating. I am still looking forward to her presentation, however, and learning about her updated advice.
September 19, 2021
I read this book for an office book club event and we recently had Michelle speak at a work event as well. While parts of the book are very outdated (not having a cell phone to save money) and the examples of cheapskates laugh out loud funny, I found this to be a great book that outlines the basics. I wish there was a bit more on investing besides buying mutual funds, and I wish there was more on secondary income sources such as rental properties.
September 6, 2021
Good advice
This advice is a little out of date (don’t think you can find advisors in the yellow pages anymore-since there are no yellow pages.) However, the information on saving and personal money management is sound. Perhaps one of her recent books would be a better choice.
This advice is a little out of date (don’t think you can find advisors in the yellow pages anymore-since there are no yellow pages.) However, the information on saving and personal money management is sound. Perhaps one of her recent books would be a better choice.
March 4, 2018
Informative
March 11, 2019
A little outdated with some of the examples but overall great, practical advice and explanations.
March 23, 2019
This is a good book for people who are serious about getting out of debt.
January 11, 2020
The mantras are funny and I like her witty delivery of information.
April 12, 2020
An interesting concept but not really practical.
October 16, 2020
Solid book about personal finances. She did have some great information though the really good stuff were the teachings of Big Mama!
January 1, 2022
Read It!!!
January 8, 2022
A good book, everyone should read it ❤️
July 5, 2022
Outdated and irrelevant. Stopped after ~20ish%. Likely has some good tips but overall seemed too basic and simple
March 17, 2023
Some parts were quite outdated, but still a lot of useful, common sense advice. Also made me laugh a couple of times. I like reading financial books and blogs to keep me on track and get a dose of encouragement to keep going.
January 9, 2010
A lot of it is plain common sense, but it is very readable & easy to understand. For people with a lot of knowledge about money management, it may seem too simplistic, but for the rest of us, or for people who are in a hole, trying to figure out how to get out, it may be very helpful. Some of her suggestions are very easy, just baby steps. The one thing she emphasized that was drilled into me by my father was the difference between "NEEDS" and "WANTS". I think the line nowadays gets blurred.
If you're looking for a very basic understanding of money management, with guidelines on how to make a budget, how to save, and how to bring down debt, this is a good way to get your feet wet.
If you're looking for a very basic understanding of money management, with guidelines on how to make a budget, how to save, and how to bring down debt, this is a good way to get your feet wet.
July 2, 2025
This is an excellent introduction to behavioral finance. Most of the mantras revolve around controlling your consumption behavior and cash flow. The mantras remind you that financing is almost always a bad idea unless the purchase can appreciate in value (like a home, small business, or education). The other main lesson is to keep your goals in mind. Other than that, Michelle mainly just tells her story. This book addresses situations that are more common to the African American community. This is an excellent book for anyone starting out and those wishing to improve their situation.
March 27, 2008
This book is well-written, informative and practical. It's designed more for someone who's trying to figure out their finances (a great gift for newlyweds!), so if you're already really happy with your financial plan it's not going to be a stock-picking guide or something like that (although I think the best stock strategy is to diversify and hold, but that's tangential). The focus of the book is definitely on saving money rather than on how to spend or invest wisely.
August 20, 2008
Very basic advice on personal finance (if it's on your ass, it's not an asset, save more, etc.) from "Big Mama," an African American woman's grandmother.
The only thing that made it unique was that it addressed some class issues that don't normally come up in personal finance books - such as what to do when your extended family comes to live with you, and your financial obligations to help your extended family members.
The only thing that made it unique was that it addressed some class issues that don't normally come up in personal finance books - such as what to do when your extended family comes to live with you, and your financial obligations to help your extended family members.
July 2, 2010
A smart savy financial guide for just about anybody. It is a need or a want? Do you have enought for retirement? Singletary offers a unique perspective and gives ideas on how to be thrifty. She's sassy, honest and humorous..gets right to the point. YOU control your financial future. Make the most of what you make, not what you want.
December 17, 2007
Definitely great to pick up a few lessons about personal finance. It's never too early to start, and you should totally capitalize on the power of compounding early on!
Read
January 12, 2008Good book about finance and money management.
February 1, 2008
No nonsense advice on getting your money together.
October 8, 2010
Funny and easy to read... Good review
July 3, 2011
I enjoyed listening to this on tape so much that I was sorry when it ended.
April 28, 2012
Basic information just told in a different way. Attended Michelle's live talk on 4/21/12 and laughed so hard I was almost crying! Everyone should present financial information this way.
June 16, 2016
Practical ideas on how we gain and use our money. She tackles some big issues involving student debt, retirement savings and taking on the debt of relatives and friends.
April 12, 2008
I like Singletary's no-nonsense, down-to-earth approaches to money...
Displaying 1 - 30 of 30 reviews