In the young, fabulous, single (but actively looking) manufactured world typified by the hit HBO series "Sex and the City," it would seem that the twin most important achievements for a woman are a rich man and a closet full of Manolo Blahniks. Whether the shoes get the man, or vice versa, is the subject of another blog.
But for the rest (read: most) of the young women struggling to earn and manage money after college in the real world, especially a recessionary one, the first order of business should be a solid financial education that includes a foundation in budgeting.
Fiscal restraint is best learned early. Digging out of debt incurred by too many shopping splurges is not a wise use of money or time.
In her book, "Flirting with Finance" author Gwendolyn Beck combines financial basics with a novella as she follows one of these young, fabulous, single women from college graduation through the perils and delights of big-city career, romance, marriage, children and suburbia.
While this education-combined-with-entertainment approach wouldn't work with some women and most men, it potentially reaches an audience that is susceptible to overspending early in life -- the one spawned and influenced by the glitzy, well-dressed, groomed city girl who is living like she's got it. I mean honestly, how much could "Sex and the City" newspaper columnist Carrie Bradshaw realistically have earned in a year? Likely not enough to own 100 pairs of expensive shoes and an adequate 401(k).
Beck's book combines fiction with reality in a nod to a life many young women are fantasizing about while mixing in a dose of financial education. Within each chapter, Beck includes a tutorial on different aspects of finance, from college 529 plans to investment strategies to retirement plans.
For instance, in Chapter 10, our fictional hero, Samantha, wakes at noon one Sunday, "gritty from too much partying." Almost immediately, she wonders if the money she spent on expensive clothes to wear the night before was worth it. She decides to get a grip on her spending and takes the reader through her current monthly budget that leaves her in the red to the new, improved one. Blank pages encourage readers to begin tracking expenses following the same formula.
During this recession, when people of all ages are learning to save more and are being forced to rely less on credit, economic lessons can be hard-won. A solid fiscal education could prepare the new generation of adults to budget for the inevitable financial downturns.
Palm Beach, Florida, Tuesday, October 20, 2009, 7:00 - 8:30 a.m., Chesterfield Hotel
Vroman's Bookstore, Pasadena, California date to be announced.
Kathleen Pickering, professional writer extraordinaire, has made the narrative easy to read and fun!
She is a member of the Romance Writers of America, and has earned recognition as a finalist in the Book Sellers Best Award, the Maggie Award of Excellence and the Holt Medallion Award.
