It Takes Money, Honey

Mosbacher starts this book by saying, ""Money causes you constant anxiety if you don't have it and diminishes your self-esteem. Conversely, when you have money, you feel empowered, in control, able to take on the world."" True, all true, but hardly late-breaking news. And that's the problem with her book. The advice is sound, but it's all been said before: have a secret cash stash; utilize your employer's 401k plan; make a budget by writing down everything spent; save three to six months' living expenses; never pay full price for items; pay more than minimum on credit cards. The strength of the book isn't apparent until Chapter 13, in which Mosbacher discusses how to invest. She explains the importance of index funds--""the basic building block of every smart woman's portfolio."" The chapter clarifies, in simple terms, why and how women should get started investing. The next chapters, sadly, go back to the obvious ways to make more money: look for a higher-paying job; don't underestimate your self-worth; consider starting your own company. In the end, Mosbacher tries to appeal to all women--regardless of their financial and socioeconomic background--on all topics relating to money. She would have been wiser to target one demographic and address that readership's concerns. (Jan.)