We love Patrice C. Washington over here at My Fab Finance and were thrilled to find out she was re-releasing her book Real Money Answers for Every Woman. You might have seen her on the Steve Harvey Morning Show or checked out a few of her other best selling books on Amazon. Check out our review of her book Real Money Answers for Every Woman below.
Real Money Answers for Every Woman…an overview:
My first impression of this book is that it has a lot of information packed into it, however, it’s very easy to read and has a great flow with guided sections. My favorite thing about this book is that there is absolutely no sugar coating! I felt like I was having a conversation with an old friend who was giving me straight up advice about how to manage money.
Overall, this book serves as a great resource guide because Patrice shares tons of useful information including other personal finance websites and books, as well as letters and forms to use. The book contains so much information, I suggest taking it one step at a time, especially if you’re looking to completely reset your finances (or if you’re just starting out), otherwise you can be a little overwhelmed.
The book is broken down into four guided sections: Create Wealthy Habits, Earn More Money, Manage Money Wisely, and Relationships and Money. I’m going to highlight some of my favorite aspects of each section, but I definitely recommend grabbing a copy for yourself!
Section 1: Create Wealthy Habits
The purpose of this section is to allow you to get to the root cause of your money issues and to create a strong foundation for the new way you will think about money. Excuses, myths, and attitudes about how to handle money are all addressed and, quite frankly, knocked out right away (I told you she was straight up). My favorite parts about this section are Wealth Begins Within and Setting the Foundation because they are very interactive and uplifting.
Wealth Begins Within digs deep into what influences in your life, both past and present, impact the way you view and handle money. Patrice calls this your Financial Blueprint. You are asked to think about what verbal influences, specific incidents, and modeled behavior make up your Financial Blueprint. She then moves into ways you can start to change the way you think about money and begin to develop wealthy habits.
As you move into Setting the Foundation, you begin to define your own path and plan with money. She shows you how to create clear, specific, and actionable goals; and where to find valuable resources to create a financial plan that will work for you and your life.
Section 2: Earn More Money
Honestly, I couldn’t pick out one or two specific parts of this section and claim them as favorites. She touched on every aspect of using your God given gifts and values to find ways to earn more money. I mean, who doesn’t want to make more money?! She discussed the importance of networking, how to find your dream job, how to deal with workplace drama, tips for entrepreneurs, and so much more! Remember, she doesn’t hold back, so she gives valuable, real life tips for getting outside of your comfort zone to maximize your earning potential; minus the sweet sugar coating.
Section 3: Manage Money Wisely
So, after you’ve reset your foundation and brainstormed ways to earn more money, you now begin to create a game plan for organizing and managing your money (I told you this book had a great flow!).
She gives a full list of important documents you should have on hand, and shows you how to keep your financial documents organized. She talks about how long to keep certain documents, and what to look for in financial software and professionals.
My favorite parts of this section are Budgeting Effectively and Saving and Reducing Debt Simultaneously. Both sections are, again, interactive and uplifting, and allow you to realistically develop ways to effectively manage your money. They both include step by step ways to create a budget and a plan to pay down debt. One of the things Patrice mentions often is having an “Opportunity Fund.” An Opportunity Fund is a more positive way to view what most financial professionals refer to as an emergency fund. You save for opportunities such as dream vacations, business ventures, and a down payment for a house; and use the funds as you see fit for the emergencies that happen in life.
Other important things mentioned in this section are ways to boost your credit and the fundamentals of banking.
Section 4: Relationships and Money
Finally, she digs deep into managing money and relationships; and how to make them both work for you. My favorite parts from this section are Your Honey, Your Money and Kids and Money.
Your Money, Your Honey touches on identifying, discussing, and overcoming money issues while dating and ultimately marriage. She talks about some of the red flags you should look for and what financial questions you should ask while dating. She even helps you identify whether or not you’re a golddigger in the most forthright and positive way (that’s hard to do)! What I really love about this section is that she shares how to deal with a mate that isn’t good with money, and ways you can overcome the many issues that arise when handling money together as a couple.
In Kids and Money, she talks about fun ways to teach your kids about money, how to make giving allowance effective, and ways your child can attend college debt-free. She hits on the many challenges parents have to face with not only trying to manage their own money, but to make sure their kids build healthy financial habits because, we know, those things are taught in the home.
How it helps with personal finance: This is a complete personal finance guide starting with changing your financial mindset and ending with a full plan to manage money, tackle debt, and build relationships that have positive impacts on your financial health.
Overall rating: 5 out of 5 stars
If you would like to meet Patrice in person she is currently on book tour. Check here to see if she’s coming to you city.
Info about the book and author:
Price: $11-12 (Purchase here on Amazon.com)
“Patrice C. Washington is the author of the financial series Real Money Answers and is a featured columnist and leading authority on personal finance. She hosts a weekly segment, “Real Money Answers,” on the nationally syndicated The Steve Harvey Morning Show”(taken from book insert). For more info about Patrice visit www.bookthemoneymaven.com.