Kimberly Palmer was a senior money editor for US News & World Report and has a wealth of knowledge about money. She is also a mom which gives Smart Mom, Rich Mom a different perspective from your everyday financial self-help book. Palmer recognizes that the financial industry does not really even “speak” to women, but instead focusing their efforts towards men. But times are changing and women need to take an active role in their financial futures, not only for themselves, but for their families. Topics include smarter shopping, understanding spending habits, career planning, social media tactics, and even how to organize all those financial papers! There is also sage advice about investing and taking a more active role in understanding and managing finances rather than just letting your husband do it.
“The truth is, many of us set ourselves up for a path to richness – or poorness – long before we become moms, before we’re aware of the financial power we wield, and those trajectories can be hard, but not impossible to change.”
Palmer cites a multitude of research to support her claims. She also weaves in the personal stories of many working moms that she has met during her own financial journey. Her advice is practical; her writing is easy to follow. Each chapter ends with action steps. At the end of the book she offers a handbook of templates, checklists, and to-do lists so that the reader can actually take action after reading the book. Even if the reader believed that financial savviness was out of her reach, this book will give her confidence to take a proactive approach to managing money immediately.
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