A powerfully simple, must-have manifesto on money with more than 90 wealth-building rules from the Today show's finance guru.
In a time of great financial uncertainty, this is the book everyone must read. The bottom Money is simple-people make it complicated. Now, bestselling personal finance author Jean Chatzky has distilled this simplicity into a smart, immediate, and entertaining set of rules that will change readers' financial lives.
Chatzky removes the stress associated with all things money and says it Readers who follow these basic yet crucial approaches to spending, saving, investing, increasing their income, and most importantly, protecting what they have, will build the wealth and financial stability they've been dreaming of. Chatzky's advice is reassuring, straightforward, and often counterintuitive,
• Date your stocks; don't marry them. • 'More money' won't always make you 'more happy.' • To spend less, carry Benjamins, not Jacksons. • If you can't explain it, don't invest in it. • 'Free' can be very expensive.
Written in her trademark warm, witty voice, and with a special Dos and Don'ts section, Money Rules is the only book readers really need to achieve true financial health and happiness.
A priceless little guide with many good reminders and excellent advice. Easy to read with 1 bullet point item on each page. Somme common sense, some gentle reminders, and maybe some new hints and tips for you.
Financial books can be scammy and I don't believe any sort of financial "rules" can possibly apply to two or more different people. That said, this is a quick read (essentially a list) so it seemed pretty low-risk. Many of the rules are common sense (at least for me), or are even things most of us probably know and just don't think about that often. The explanations are very simple and well done. This would be a great book for a young person who is just starting to manage their own finances, or for someone who would like a refersher on statistics and methods around saving, spending, investing, and insuring their money.
Jean Chatzky is a very successful writer on the topic of personal finance. I'd heard her name taken in vain not so very long ago on an infotainment segment, where the "expert" proceeded to rant about the horrible advice people like Chatzky, Suze Ormond, Robert Kiyosaki, and Dave Ramsey peddle. For the most part, I've found the advice of Ormond and Ramsey to be fairly sound, though I have taken issue with a few bits and pieces here and there. I got a copy of this Chatzky ebook along with a copy of Willmaker I picked up at Costco, so I thought I'd check her out.
The book was an extremely quick read, just a series of short rules about money, with only a paragraph or two about each rule. Again, for the most part I have no problems with recommending Chatzky's rules to most people, most of the time, but for more complex financial situations, some of them are simply going to be inapplicable, and more professional advice required - probably paid professional advice.
Some bits that caught my attention as I buzzed through:
Rule 12. Save more with every raise.
I've followed this one for a number of years, and passed it on to my children. At least one of them that I know of has been following it, and are well-started on building their retirement nest egg. When I get a raise at work, I take half of that raise and just add it to my automated 401K contribution. I never miss it! My paycheck still goes up, and my retirement plan looks better, too. I highly recommend following this rule. You could also shift a portion of every raise towards other savings goals, like saving for a down payment on a house, a new car, or your kids' college funds. Avoid lifestyle creep - don't spend all of your raise.
Rule 21. Save for something
Chatzky says to put a name to your goals and put aside savings for those things in particular. Here's one, aside from my retirement, and my grandkids' college funds, that I don't do so well. I just put money away "for a rainy day", and when I need money for an emergency, a down payment, a major purchase, or whatever, I have money in my general savings account (usually) to pay for it. I'd really like to do a better job of this, but I just hate having multiple savings accounts at multiple banks.
Rule 29. Use your emergency savings for emergencies.
Chatzky says you should always take money from your emergency fund to pay for emergencies, like the car breaking down, or unexpected medical expenses, and that you should not put it on your credit card. So, this is where I break from people like her and Dave Ramsey. I put everything I possibly can on my credit card and pay it off at the end of the month, taking money from my emergency savings for anything charged on it that was actually an emergency, or unexpected. In the first place, I get a nice cash back bonus every month from my credit card company. There have evidently been studies performed that show that people spend more money when they use a credit card than when they pay cash, but I firmly believe that I'm not one of them. My wife will tell you I'm so tight I squeak. Second, the credit card statement, and the card company's utility that categorizes expenses, are a nice way to actually keep track of what I spent, when I spent it, etc. I have an emergency fund. I use my credit card. I love the cash back! Sue me.
Rule 34. The best cost-cutting tool is a good night's sleep.
Chatzky recommends that you sleep on it before making a purchase decision. If you don't feel the urgent need to buy after a good night's sleep, you didn't need it that badly to begin with. I agree totally. In fact, I have a list of things that I think I need to purchase that I carry around with me. If it's not an urgent immediate need, sometimes things stay on the list for months before I get around to buying them. At that point, I run across the item used, at a deep discount, borrow it from a friend, be given the item as a gift, or I may simply never buy it, removing it from the list at some point, as the need has passed.
Rule 38. Pay bills as they come in.
Having a big pile of unpaid bills is a huge stress inducer. I used to let my bills stack up on the kitchen counter until payday, then sit down and write out all the checks at once. Then, I moved to writing out the check the day the bill arrived, putting it in the envelope, ready to mail, with a post-it note showing the due date, and placing the bill in the mail a week before it was due. Now, for the most part, all of my bill paying is fully automated, with my bank mailing out the checks for me. I check up on things every so often, and have to go online to enter the amounts of variable bills once in a while, but it's a very painless process.
Rule 47. Shop with a list.
If you make a shopping list, and only buy the things you have put on the list when you go shopping, you'll save a lot of money by avoiding those impulse buys. I am a list freak. My shopping list is even arranged in the order the items appear at my favorite grocery store. I have lists for everything, from shopping, to daily tasks, to packing for a camping trip or a trip overseas. They're all in my documents folder, and I can print out the type desired within moments of the need. Yeah, I'm way compulsive about lists.
Rule 53. It's not about having it all. It's about having what you value most.
Chatzky believes many people have regrets about how they spent their money, down the road. She says one way to avoid making the same mistakes over and over again is to keep track of your feelings about your purchases, so that when you have a bad experience with a vendor, a brand, or a meal, you won't buy there again. Pretty smart idea. I've been journalling my life for about ten years now, and I can go back and search the archives to find out when and where I purchased things, whether I was happy with them, and what the name of that restaurant where I had the most awesome French Dip of my life was. It's quite handy.
Rule 91. Don't take financial advice from someone just because they're wealthy (or related).
Chatzky doesn't elaborate on this rule at all. I'd love to know her thinking on this one. First, would it make sense to take financial advice from someone who is poor? I don't think so. I always thought that you should get financial advice from people who have achieved the type of financial success that you want to achieve. On a parallel note, I wouldn't take relationship advice from someone who has been divorced multiple times; I'd rather hear from someone who stayed married for fifty-plus years. Second, would it make more sense to take financial advice from a stranger, rather than someone who actually loves or cares about you. I'm not entirely sure this rule holds water. I think I'll have to go look at what she has to say about it online somewhere.
All in all, a quick read, worth the time, and there's definitely some great principles here.
Jean Chatzky's Money Rules: The Simple Path to Lifelong Security contains lots of good financial advice packed into a fairly little space. Take the "rules" referred to in the title literally--this book is made up of a list of short rules, broken up into sections (including making and saving money, debt, and assets). Each rule is pithy, and most are immediately followed by a more in-depth explanation of that particular rule.
I was happy with the book, and realize that I (someone almost fresh out of college) would probably never make my way through a bulky financial book. Even thinking about it is frightening. However, the rules outlined in this book seem to lay a solid foundation for a healthy financial future. While short (at just over 100 pages), Money Rules left me curious for a bit more information. Maybe that can be an impetus to pick up one of those (big, scary) books on managing one's finances.
This book would be a great gift for new graduates and young adults.
I received this book through GoodReads First Reads.
Simple, quick read on rules to follow regarding your assets, your money, etc.
"Personal finance is more personal than it is finance."
Rules to remember: *The four most powerful words in any negotiation: "Can you do better"? *The more time you spend looking, the less happy you'll be with what you find. *Save FOR something. *Doing nothing can be very expensive. *Always get 3 bids. Never take the high one. *If it's good for the planet, it's usually good for your wallet. *It's not about having it all. It's about having what you value most. *The biggest threat to your financial security is your health. *If you can't afford to replace it, insure it. If you can afford to replace it, don't. *Do give back.
I enjoyed this one, super short, easy read with some good concepts to reflect on.
HIGHLIGHTS: Make Money: - You are never more valuable than when someone else wants you. People tend to get raises when they change jobs. - The 4 most powerful words in any negotiation: can you do better? When taking a new job, on the phone with the cable company, at the mechanic for an oil change, talking to a mortgage representative, etc.. - The more time you spend looking, the less happy you’ll be with what you find. If you find something in a few hours that fits all your needs at a decent decent price. You’re going to love it. Don’t spend days searching or you’ll always doubt your choice. - Calculate what an hour of your time is worth. Use your annual salary, subtract three zeros, and divide by two, to give you your rate per hour. Is it worth hiring someone else to do a job or do you need to crack a cold one and just do it?
Saving Money: - If you can’t see it and you can’t touch it you won’t spend it. This is why 401(k)s work. Don’t just stop at 401k, put your money into IRAs, brokerage accounts, CDs.
Avoiding Bad Debt: - Check one report from each of the three credit bureaus for free each year at an annualcreditreport.com
Spend Wisely: - Pay bills as they come in. - Always get three bids. - If it’s good for the planet, it’s usually good for your wallet. Smart cars, fluorescent, lightbulbs, refilling your own water bottle.
Invest Wiseky: - Automate your investment contributions increase your percentages by 2% every year until you max out - Aim for 10% a year if you start before your mid 30s that can include your matching contributions from your employer and 15% a year if you start later than that
Protecting Your Assets: - Insurance on rings - buy a “rider” - Most people are better off buying term life insurance, then buying permanent insurance. Term life is a death benefit in as much cheaper. Permanent insurance whole life or a universal life, combines the death benefit with an investment component and is more expensive. - Get it in writing. Provides back up and clarity. - Have these four things. A will to show who gets your stuff. A living will that tells a hospital if you want life support. A healthcare proxy to let someone else make medical decisions for you. A durable power of attorney - lets someone make decisions for your finances.
“Materialism is focusing on what you want and obsessing on what you desire. Gratitude is being thankful for what you already have.”
Money Rules: The Simple Path to Lifelong Security by Jean Chatzky is a breezy yet insightful read that distills personal finance into bite-sized, digestible rules—one per page. It’s the kind of book you can flip through in an afternoon, but still walk away with a solid foundation in financial wisdom.
I appreciated how accessible it was—no fluff, no jargon, just real-life advice you can actually use. A few of my favorite rules were: 💸 #13: There’s no such thing as chump change – a great reminder that small amounts add up. 🍽 #20: Count dollars, not calories – love the shift in focus. 💰 #24: Saving is more important than investing – especially helpful for those just starting out. 🎂 #30: Every birthday, check your weight and your credit score – a clever way to build habits. 📉 #54: Boring is better – a rule that applies to money and life. 📊 #56: Rebalance every six months – actionable advice for anyone with investments. ✍️ #85: Six words to close a deal: “Can I get that in writing?” – gold.
This book would make a great gift for recent grads, or anyone looking to get their finances in order without feeling overwhelmed. It's a reminder that money doesn’t have to be complicated—just consistent.
If you're a complete idiot when it comes to money, personal finance, and investing, this book is for you. If you happen to know anything whatsoever about these topics, you'll be wasting your time. This isn't even a real book. This is someone taking 2 hours out of their afternoon to write down some ideas about money off the top of their head, and trying to get some income out of selling it. I can't adequately express how underwhelmed I am. 2 stars because someone out there might actually know nothing about money and learn something.
Solid rules! Most are pretty basic tenets of personal finance, but a few I found helpful: - If you can afford to replace it, don’t insure it - A sale isn’t worth the drive if it doesn’t save you more than the cost to get there - Don’t use an ATM in a place without an easy exit (airport, casino) - There’s no FAFSA or scholarships for retirement - Save for something (instead of openly promising to yourself to “save more money”) - Save more with every raise
This is a great collection of good financial tips and reminders. If you are already motivated to make changes to your finances, or you're just looking for a reminder of some ways to improve your finances, this is a nice, quick read. If you're looking for more in-depth explanation or if you're also looking for some serious motivation, I would recommend a more comprehensive book.
It's fine if you're middle/lower class and want some money tips. It's not terrible. But, in my opinion, it's kinda scarcity mindset. You don't win by playing defense only. Defense is required for winning, too, but you have to play offense. This book is for people who are focusing on getting rich through cutting costs and savings alone.
Loved this book! I wish that I had read it 25 years ago. It's 94 simple rules for living your life within your means and saving for your future. This book would make an excellent graduation gift or even wedding gift. It's a very quick read.
A lot of this felt repetitive from some of the basic financial advice I've received before. Still, it was nice how simple it was and a good summary and reiteration of the financial do's and dont's, plus a few gemw that I hadn't heard before. 3.5 ⭐
Simple is an understatement here. Solid advice for those new to personal finance but too broad to guide application of the rules while being too simplistic for those with even a cursory grasp of money management. Frankly, you’d learn more from the wiki on Reddit’s r/personalfinance.
This deceptively small and simple book provides financial guidance for a lifetime. It is especially great for young adults just starting out, but I picked up some great tips in my middle years too.
I absolutely LOVE Jean Chatzky, her other book, her website, and her podcast. But if you’re plugged into all of her other outlets, this book won’t deliver anything new.
Full of catch-phrases and vague statements that sound like common sense until you examine them further. No instruction on how to go about building budget/investing.