This week, The Simple Dollar is conducting a detailed review of Suze Orman’s The 9 Steps to Financial Freedom. This title has appeared on countless personal finance shelves over the past decade; does the content inside hold up? We aim to answer that very question.
Now we come around to the big question about The 9 Steps to Financial Freedom: should I buy it or should I skip it?
The most important factor to realize about this book is that it focuses much more on the psychology of personal finance than on the mechanics of personal finance. If you’re looking for nuts and bolts ideas, this book won’t hold very much meat for you. On the other hand, if you’re lost and wondering where all of the money went, this book is right up your alley, as those issues are typically psychological in nature.
This book also features the Suze Orman “personality.” If you find her persona on television to be highly grating, then there are many aspects of this book you will also find grating. Admittedly, the Suze Orman factor isn’t quite as thick in print as it is on screen, but if this is a major turn-off for you, then avoid the book. If you’re already a fan of hers, on the other hand, this book will fit right in.
In short, buy this book if you’re really unsure how to get started in setting your financial ship right. If you feel very lost with your money, her approach is a solid one, because your biggest problem is getting your mind in the right framework so that you can improve your financial situation.
On the other hand, don’t buy this book if you’re already on a solid financial path. There isn’t much to this book in terms of the actual mechanics of personal finance; you’ll be much better off reading books that provide information on specific topics rather than this one.
Next week, The Simple Dollar will take a look at a book that stretches the definition of a “personal finance” book, as it provides a bit of an unusual approach to the topic.
The 9 Steps to Financial Freedom is the second of fifty-two books in The Simple Dollar’s series 52 Personal Finance Books in 52 Weeks.