In 2006, inspired by an episode of The Oprah Winfrey Show, five young women decided to form a “money group”—a Weight Watchers-style support group to help them pay off their debt, start saving, and generally get their financial lives on track. Despite working in fields ranging from TV production to social work, all five women found the money group experience tremendously beneficial, and eventually decided to share their newfound knowledge with others, co-writing (with Jennifer Barrett) The Smart Cookies’ Guide to Making More Dough: How Five Young Women Got Smart, Formed a Money Group, and Took Control of Their Finances.

This is certainly a good week to be releasing a financially conservative, savings-oriented how-to book, and The Smart Cookies’ Guide’s combination of practical advice, clear explanations, and personal anecdotes will resonate with many readers. Disappointingly, the authors don't explore the larger cultural aspects of their subject in any depth (they only devote a few paragraphs to analyzing why many girls are “taught” to do nothing more than spend money), but this book is clearly meant to be a practical guide, not a sociology text. Pick up a copy for yourself if you’re in need of a clear, comprehensive, prudent guide to personal finance—or give one to any freshly-unemployed Wall Street bigwigs on your holiday shopping list.

Labels: Atypical Wordcandy, Book Reviews, Nonfiction