The Smart Money Woman

by Arese Ugwu

Meet Zuri. She’s living a fabulous life. Great car, gorgeous apartment, well paid job. Meet Zuri. Broken down car, an apartment she cant afford, a job she’s about to lose. What’s a broke girl to do? With her best friends Tami (the flighty fashion designer), Lara (the tough oil and gas executive), Adesuwa (the conservative lawyer), and Ladun (the fabulous housewife), Zuri grows a little, learns a lot and navigates her way to making better financial decisions and building wealth. This book tackles, debt, spending, the consumerist culture of the African middle class, the fear and misconceptions surrounding money and the lack of it, love, friendships, cultural and societal pressures and the roles they play in success. With each chapter comes a Smart Money Lesson, there to help you work your way up the financial ladder.

Genres: Finance, Money, Self Help, Fiction, Personal Finance, African Literature

224 pages, Kindle Edition

Published August 9, 2016

Reviews

[Toyin Spades · Rating 4 out of 5]

I am usually irritated with books that claim to teach you how to put your money to good use but are downright boring, offer no practical steps and make you feel like demanding a refund of the time and money wasted on a misadventure.

I must admit, I had a subconscious bias against this book when I picked it up. Not for any particular reason as I had neither heard of Arese (the author) nor read any of her works but when I realised it was her first book, I decided to schedule it for a book review in November.

I wish I read the book and made this review sooner.

Style:

This 146 paged book is divided into 12 chapters with character set in Lagos. If you like Chick Lits like I do, this book follows the same pattern but with a very intelligent twist.

At the end of each chapter, Arese defines certain terminologies that are used loosely in a section called “Smart Money Lesson”.

Afterwards, she gives her readers a number of simple (but powerful) exercises to understand their starting point and create a road map and action plans to get to their desired financial goal.

Don’t be put off by these exercises as they are quite easy. Initially you will think they are basics but these basics are fundamental and provide clarity or confirmation depending on your current financial situation.

Plot:

It’s a tale of 4 friends who have been keeping up with the Joneses with no clear strategy on how to maintain their lifestyles, set aside emergency funds and trim the excesses. Sometimes it is funny, sometimes you’d sympathise with them and other times, you’d feel like wringing their necks.

The not only gives the reader insights on how the ladies got into their financial mess in the first place, it goes the extra step of giving practical strategies on how anyone can implement actions to pay off debts and stay debt free.

The story of the protagonist, Zuri, is relatable as many single women get obsessed with turning up at the most expensive weddings/ parties to have their pictures in tabloids/ celebrity magazines and blogs but are neck-deep in debt and hoping for their Knight in shining armour to rescue them.

Zuri’s story proves that even if you find yourself in a financial mess, you can get yourself out of it by implementing Arese’s lessons.

Recommendation:

The book is quite easy to read and it took me a day to finish it (yes, I work gruelling hours but still read this book till the end on day 1 as I simply could not put it down).

If you are looking for a book that simply breaks down the fundamentals of living a financially upward life and provided practical steps to do just that, this is a fantastic book to start with.

[Aisha (thatothernigeriangirl) · Rating 3 out of 5]

First off, the fact that Ugwu shares these knowledge in fictional form is brilliant. It means she’s aware that self-help books sorta easily lose their appeal and decided to use a better approach.
I love that
I also enjoyed and learnt a lot from the money advice she offered. I’ll be implementing most of them and I’ll be more intentional with my money.
However, a lot of things didn’t sit well with me. For one, there was too much advertisement in this book; from names of people to names of products and clothes and names of places; it was too much and lost its appeal really quickly. I get that she probably wanted to hoot the horns of people she found inspiring but she didn’t do it subtly at all.
Another thing I didn’t like was the subtle fatphobia. The jokes and comments about fatness was off-putting; “we prevent one another from getting fat so we should prevent one another from getting broke”
There are other analogies that could have been used. There was another place where Tshola was teasing Zuri and said he needed to “put off the pound”. Eating and living healthy shouldn’t be done because we are afraid of fatness; it should be done because it’s the right thing to do. Narratives like this one, however subtle, perpetuates fatphobia.

Other than that, this book was an interesting read.

[Tobi Nifesi · Rating 2 out of 5]

I GAVE UP.

I tried. I really did. I tried to get past the first few chapters of this book. I just couldn’t. From a literary perspective, this book failed me. It was hard to read. The author penned this down like she was writing in a journal or a group chat. Nevertheless, I’m sure there’s some substance in there. The author understands the financial struggles of the average millennial and offers some pretty good advice every now and then. I just didn’t have it in me to sift through the rubbles - that is her writing style - and reach for the substance within.

[Olamide Opadokun · Rating 4 out of 5]

Because too many Nigerians peddle themselves as experts in fields they have no business in, I did not have high expectations for this book. After just one chapter, I was sucked in. Arese really knows her stuff. The Smart Money Woman is saturated with wisdom about personal finances that is explained very simply.

The book narrates what Zuri is going through and at the end of each chapter are ‘Smart Money Lessons’ and tasks that correlate with Zuri’s stage of financial consciousness. Combining fiction with serious lessons like this was a brilliant move. There is no other way I would have read a book about personal finance. The lessons are very clear and easy to understand, but I did not find the characters very relatable. They were upper-middle class women who splurged constantly on luxury. I do not think they represent the average Nigerian woman, but that didn’t take away from the lessons in the book. It was a little too chick-litty for me, but that’s a personal taste issue. There was also a lot of name-dropping as well as shoddy editing. There were grammatical errors, missing punctuation marks, paper streaks and sub-standard binding issues. A book so good should not have those kinds of issues.

On the whole, I think it’s a really good read. It is a thought-provoking book about personal finances, having clear goals (financial and otherwise) as well as recognizing personal skills and knowing how to apply them. I have a lot of respect for Arese for putting this book together, and I would recommend it for anyone at all that wants to manage their finances better.

[Mwongeli · Rating 3 out of 5]

I liked the lessons about money matters. Very relevant as I had started thinking about finances and my future.

I really did not like the mention of designers that are "really good but affordable." She was covertly advertising their products. Unfortunately for the author and her designer friends, the brands she's advertising may really be lost on those of us who are not Nigerian. She mentioned a lot of designer products, which I could not relate to. Saying "designer shoes" or "expensive" or "trendy" would have been just fine. This also means that the book will lose its relevance when it comes to future Nigerian readers (those of us who are not Nigerian can't relate now much less in the future) since there will be different designers at that time.

To get the enormity of the financial situations she was talking about, I had to find out how the Kenyan shilling matches up to the Naira, otherwise a lot of things could have been lost on me.
The story was not all that great, and that's okay. I did not even expect the book to be based on a story in the first place. I do have to say that the characters of Zuri's friends were poorly developed. I think that their different money situations, if she expounded more on them, could have resonated with others who are unlike Zuri.

All in all, this is a great start for books tackling finance issues as far as the African woman is concerned. Looking forward to more stuff like this especially on women that are not upper middle class or in the corporate world.

[Bajen · Rating 5 out of 5]

Even better than the first time.

[Rokcie Roxcita · Rating 5 out of 5]

This book is amazing! it speaks to young (and not so young) African women on money. How to make it, how to spend it and most importantly how to invest it. It is written as a novel with breaks of advice and assignments. When I started reading it I thought Zuri(the main character) was quite the dumb slay queen but as I read further I realized Zuri is most of us.
I am not doing the book justice with this review because I am not explaining it well but if you are a lady(or hey a man) and you are African then this book is a must.
You might think you have your money matters in check but if you aren't saving and investing towards a long term and short term goal then you need this book. If you don't have an emergency fund(or if you don't know what that is) then you need to read this book. If you still think entrepreneurs are the only people who can make money or invest then you need to read this book. If you are in debt, READ IT! hell if you have a free afternoon read. Take my word for it and read it.

[Mobola · Rating 4 out of 5]

I started reading the acknowledgements and found myself finishing up Chapter 3 not long after, I was so sucked in. It is not your typical "educational" or inspiring book, so impressed with how relatable and informative it is!

Every young woman needs to read this, the earlier the better. I wish this came out years ago.

[Nneka Ngene · Rating 2 out of 5]

Storyline was hella weak, but I love how she tied financial literacy into it. Lots to think about.

[Yewande Oyebo · Rating 5 out of 5]

The story line isnt amazing but i love the fact that its a finance book you just cant put down!!
Amazing book.
I felt like a changed person after reading!!

[izzy · Rating 5 out of 5]

Meet Zuri, earning what is super high for a young woman in Nigeria today

Yet she is in serious debt mostly due to impulsive spending


We learn how to cut our spending and invest (not just save ) money in this one
Very good book

[Adiah Oloma · Rating 4 out of 5]

Nothing is too small to save. Have a realistic plan, save, but let your savings work for you. It's a good read and an enlightening one. It opened my eyes to lots of things my eyes were closed to.

[Sainabou · Rating 5 out of 5]

I have learned so much I’m actually getting a money journal and I have read this book at a perfect time just when I was thinking about investing in stocks and real estate.... 🤔

[Ms. Ikonge · Rating 3 out of 5]

Definitely a very good read. I feel challenged to honestly re-evaluate my finances and put my money into organised and sustainable investments.

The writing was okay, it wasn't necessarily the best writing out there but it passed the message across. I enjoyed the way the writer weaved in a practical narrative to emphasise the key messages she was trying to convey, even though the narrative itself was not really remarkable. It was simple but effective in my opinion.

This book is a challenge to invest more time in considering my income and growing my assets as well as reading much more widely on financial planning in the coming year.

[Mace · Rating 4 out of 5]

Once you get the rather tedious story-line which, for me, was completely unrelatable and a tad bit tacky, you will absolutely LOVE the money lessons. These lessons are pure gold. Clearly Arese knows her stuff when it comes to finances. I particularly loved the focus on women and Arese's attempt at addressing the gender-specific challenges women face when it comes to our attitude towards money, finances and building wealth. I would put up with the story just to keep reviewing these nuggets.

[Tosin (booksxnaps) · Rating 4 out of 5]

I really enjoyed this book. I found myself highlighting a lot and it honestly made me think of my life and how I’ve been so careless with Money.

If you’re looking for a book that’ll give you some finance/ money saving tips, then this is the book for you.

[Tomi Ola · Rating 4 out of 5]

I was a skeptic at first, but even the most financially literate should read this easy guide to personal finance, if only as a gentle reminder.

[Morohunfayo · Rating 5 out of 5]

Cool story BUT it teaches you how to save money! Something we all need to learn how to do! Was definitely intrigued!!

[Tumaini K · Rating 5 out of 5]

For all African ladies who desire Financial Freedom, This is the Book to Read

[Carole Joshua · Rating 5 out of 5]

This is a book that I'd urge every lady out there to read. The book contains real life lessons that no one will ever sit down to explain them to you. As ladies we've always believed that money matters is a man's job. Well, that's not the case. Its time we take charge and change our mentality..
It is a good book. I wouldn't mind reading it again and again.

[Akinmulewo Adebola · Rating 5 out of 5]

The fact that you’d feel like you’re reading a non-fiction book the entire time is what makes this book a killer. I stayed glued to it the entire time. The characters are so relatable as regards to each financial stories. I enjoyed myself the entire time and that’s how you can tell a good book!!!!

[Frances · Rating 4 out of 5]

4 stars because it was not what I thought it would be. As someone who does not like reading business/finance books, the book is a clever way of tricking me into reading about the subject. The last chapter did not blow me away but overall it's a good book.

[Folio Review · Rating 1 out of 5]

Reading a book is not as hard as many believe but I am a bibliophile so it comes easy for me. However, this was not the case with The Smart Money Woman, I had to force myself to finish reading it.

As the title denotes, The Smart Money Woman is about finances, aiming to be a proper financial guide for women who have issues managing their finances. I began the book with high expectations because of the positive reviews it had, only to have my hopes dashed when I read it.

It was a difficult read because of the bad grammar, sentence structure and brand placement. It felt like I was watching a documentary or an advertisement because of the numerous brand names–Lady Biba, BellaNaija, Tara Durotoye, LindaIkeji, WimBiz and more. The countless mentions are highly unnecessary and suspicious. It’s evident that Arese Ugwu is friends with the brand owners, their names are also included in the acknowledgement and review sections of the book.

I was expecting the format of the book to be similar to Jack Canfield’s How to Get From Where You Are to Where You Want to Be but it read more like a Sophie Kinsella novel which was unusual but made it unique for a self-help book. The tone of The Smart Money Woman guarantees that people who hardly read will do so easily, it is fictional but filled with financial tips at the end of each chapter.

The Smart Money Woman is set in Lagos and focused on the fictional character Zuri, who embarked on a six-month journey of financial “cleansing” when she got broke, despite her monthly income of N600,000. Zuri lives in Lekki, an upscale part of Lagos and has 4 friends, who also have financial challenges. 

Tami depends on her father and boyfriend for money; Adesuwa makes a steady income but has problems maintaining a good financial status due to the burden of catering for her family alone; Ladun is a housewife who is careless with her finances. Lara seems to be the most sensible, with separate accounts for her monthly salary yet this sensibility is marred by the fact that she chose to move her family from a rented apartment in Iyana-Ipaja (a low income location) to another in Gbagada (high-earn area) instead of buying them a home in the former location. Ultimately, these characters are living a lie, keeping false appearances in detriment to their finances.

The most baffling thing is that most of the dialogue never got past designer bags. I don’t think Ugwu did thorough research about the different financial problems women are faced with. Yes, most women care about fashion but their financial problems are not just flimsy “champagne problems.” if “rich women” talk only about designer bags where do female thought leaders come from? Or, is that why there aren’t more women in power in Nigeria? Of course, it isn’t bad to talk about high-end fashion items but if that’s the only thing being discussed then there’s a problem.

Arese’s debut book seemed to give a glimpse of her and her friends. Although it’s fictional, the limited topics of discussions and similar characters (couldn’t there have been one with an entry level salary, living in a rural part of Lagos, meeting them occasionally because she’s on a tight budget?) made the book seem like a diary cloaked in fiction. Surely, it can’t achieve its aim if that’s the case.

Hopefully the second book will address other financial issues, which were blatantly missing in this one, as well as other demographics and topics, including; students, entry level professionals, single mothers, stock market, shares, low income investment, bargaining, haggling, mortgage and other financial life skills.

My first thought when I finished reading about Zuri’s journey to financial freedom was; “She would go back to square one despite earning more. Her boyfriend’s–Tsola–”goals” mantra wouldn’t help and her independence would wane in the face of her need to maintain her addiction for Prada bags and Deola Sagoe clothes.”

Overall, I wouldn’t recommend the book to anyone, particularly if they are looking for ways to get out of years of debt and financial troubles. I believe most people will think it interesting but would hardly make a move to apply the principles in the book, which wouldn’t be surprising since the book is not all that encouraging.

Furthermore, the adage “don’t judge a book by its cover” applies here. Penil Apenteng did an amazing job illustrating the book cover but it appears that Arese didn’t hire an editor because with the number of grammar mistakes and punctuation errors in The Smart Money Woman, it seemed like the first draft was published with no due process.

[Royalsissi_love_books · Rating 5 out of 5]

Rereading this
And I am really into it

[Queensly · Rating 4 out of 5]

This book follows the story of Zuri who, because of her reckless spending, finds herself with a mountain load of debt with no assets or savings. She then begins a journey to redeem her financial standing by going on a juice cleanse of sorts. The lives of her friends and their money issues are also thrown in as well and made reference to throughout the book.

I enjoyed the approach the author used, I.e, utilising fiction with key lessons and I sure did learn a few tricks to track my finances. However, I personally do not think the average Nigerian woman would be able to relate with the characters in the book as all of them seem to fall under upper middle class.

Furthermore, I understand that the writer has a relationship with all the people that gave comments at the beginning of the book but I found the covert advertising of the products they offered a little too much like the tactics used in Jenifa 3 (the third part of a Nigerian comic trilogy)

Asides the above stated issues and a few editing errors, this book will be a good read for a fresh female graduate and women at different stages of their career.

[Kesha K. · Rating 3 out of 5]

First off, let me say that I love the cover. However, I was a tad bit confused at first. I thought this book was a self-help guide until I realized that it was a combination of a novel with financial advice thrown in. I understand what the author was doing. It just didn't work for me. The author seemed to use the naira loosely and not consistently and so; as an American reading, I had a tendency to forget which system she was referring to and at times cost didn't make sense. The novel is largely based on Zuri, whose reckless spending has put her in financial straits. The author somehow manages to add Zuri's friends' financial problems into the mix as well. Overall, I think this novel lacked the thought out structure that could have made it a good read. Maybe breaking down each friend's problems (and providing references at the end) would have kept the novel flowing better. Or just telling the story and have an accompanying financial guide would have been better. All in all, it just didn't work.

[Raíssa · Rating 3 out of 5]

I enjoyed the different approach to finances provided in this book. Very creative and practical. However, in a few chapters there were complete sentences repeated at the end, I have to say did not like that. Also, the story felt a bit incomplete at the end for some characters.

I would rate it 3.5 because it's fun and useful. Also the approach on finances from an African women perspective is great. Unfortunately the story could have been told a little better for me. But I still definitely recommend it!

[Sharon Nyasha · Rating 4 out of 5]

I didn't care so much for the story line of the book when I started. It seemed very cliche, stereotypical and very much centered on Nigerian life so I had a hard time relating to it. However, the lessons were gold! The book was an eye opener for me as a young woman professional who hasn't put so much thought into navigating personal finances. The book is written in a way that makes the topic of finances for young women important but given a story line that doesn't make the issue daunting.

[Ewuranna · Rating 5 out of 5]

So many money lessons to learn especially for the young woman (man too i guess). A must read for every young African woman: It will help shape your money mindsets including savings, acquiring assets, spending habits and so many others. It will get you to set some new financial goals and take active steps to achieving them.
And it's the most engaging smart money book i've seen; something an African woman can easily relate to.

[Pauline · Rating 4 out of 5]

Aside some typos i enjoyed this book. It opened my eyes to the need to save and also invest in order to get better return on the investments. Also, every penny being saved must be for the achievement of a clearly set out goal or achievement.
Very interesting and informative book.