Book Review: "The Smartest Way to Save: Why You Can't Hang On To Money and What To Do About It"

I don’t know anyone who doesn’t wish for more money. Yet many of us just live month to month, with nothing left over at the end. The one sure way to have more money is to save money; it’s an important part of responsible financial management, and it is the only way to reach our financial potential.

During these difficult economic times, it’s hard to think about saving money. Most people are either worried about making money or whether the money they’re currently making is going to continue to come in. That’s one reason it’s important even during these hard times to cut back and put away for those emergency situations that we don’t expect or the retirement we hope to enjoy one day. That’s why the new book that crossed my desk, “The Smartest Way to Save: Why You Can’t Hang on to Money and What to do About It” is a handy reference for anyone to read. The book, written by Samuel K. Freshman and Heidi E. Clingen, shows how keeping your money is easier than making it because you don’t have to earn it. Freshman states that the most important thing he learned to become successful is “It’s not how much you make--it’s how much you keep.” Keeping money at home or in the bank instead of in your wallet is one way he touts to save money. Freshman and Clingen also caution against money drainers such as extended warranties. While stores benefit $9 billion every year from the sale of extended warranties, only 15 claims are made for every 100 sold. The authors also recognize how insecurity and anxiety lead to unnecessary spending and adress how to prevent it.

This book, filled with foolproof tips for saving money, is a great read during these hard economic times or anytime. Take this book with you along the road to financial success; you’ll get there faster and you’ll stay there.

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