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Customer Reviews of The Courage To Be Rich

Repackaged Common Knowledge
Suze Orman's Book is well written and thoughtful, that being said, she doesn't provide anything beyond common sense and basic knowledge: Stop accruing debt, live within your means, pay off those high interest credit cards, distinguish between good and bad loans, save money, INVEST YOUR MONEY. All this is the same material you will find in every beginning personal finance book, and online for free. The problem is that after peddling all these little trinkets of knowledge, with an over indulgent helping of self-pity, she doesn't help you make a plan or answer some fundamental questions. Like...HOW? This book does not provide the basic mechanics of how to do what she says, and gives no details on how (in financial basics) she got where she is. How do I redistribute my debt so I can pay it off (what is a good time horizon), how should I save money so I don't get burned out by saving, how do I mentally control my spending, and most importantly how do I invest the darn money? If you tel people to save and invest, you need to give them a hint of a plan (e.g., save 10% of every paycheck, but no more, so you grow to hate saving money) or maybe also just a single chapter on where to invest the money beyond, use your 401(k). Maybe one on why being too risk averse is bad. Ultimately, this book simply provides abstract goals, that require you to go out and get another book to help you get perspective on getting there. So just skip it, and get the next book.

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First step to getting rich
This book is so important. I swear she should write school courses for children K-12 & beyond because she is so wonderfuly full of knowledge and sound advice. I strongly urge everyone to buy this book if not for yourself then for someone you love. It is so enlightening you will not want to put it down.

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Commen Sense Not Courage
This book is concisely written and reader-friendly. <
>The question and answer format in Chapters 8, 9 and 10 are pointed and helpful. There was obviously a lot of thought into choosing which questions to ask, because they're pertinent things we need to know, but most of us don't know. <
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>Orman deserves credit not only for her advice but for her attitude and viewpoints on many financially related cultural aspects of our lives. One quote I liked on page 104 about carsis : "It's not a component of the American dream. It's certainly a component of our collective consumer machismo." Her following formula of investing at +X percent vs. a car payment at -X percent lead to some serious numeric differences. Meaning if you add it up, you may have placed your Opportunity Cost of car ownership (with monthly payments) to be about +$500,000 or a loss of -$500,000 dollars. <
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>Most of the points in this book are for the neophyte. Or those who haven't thought much about incoming and outgoing expenses recently as our routine in life gets busy and complex. Many anecdotes are basically short-story case stories about some of the situations her past clients have been in, how they got there, and what was done to get them out of their predicament. You can read the chapters in any order. It's a good thing. The only thing I would change is the title. Instead of the "Courage to be Rich," I might call it the "Courage to Have a Manageable Debt-ratio." :)