Ben Stein is a well known personality that many consider to be a genius. His book, How to Ruin Your Financial Life is incredibly concise, coming in at under 130 pages, and most of it reads, as the title would suggest, as a guide to how to end up in debt over your head. It’s a funny read and you’ll probably find yourself nodding your head at many points, especially if you recognize similar behavior in his anecdotes.
The basic premise of the book is that it is advice in reverse. Stein points out that few of us listen to sound financial advice anyway, so why not write a book outlining how to ruin your finances instead of how to save them. He certainly gets points for originality, but at times, we were worried that a lot of readers may not get the lesson. The anecdotes are amusing, but there are spots where some readers may just not pick up on the subtleties.
The book definitely scores with its short form and engaging style. The chapter titles are as pithy as Stein is, and illustrate exactly what you should not do if you want to be financially stable. The chapter on “Convince Yourself That You Can Beat the Market Without Knowing Anything About It,” was very telling and should probably be given to anyone that has ever thought about making a killing in the stock market.
It’s interesting to base a whole book on a cautionary tale, and you’ll find plenty within its pages. It’s a good read, verging on a little bit dull at times, but we did find ourselves chuckling at many of the points. The sad thing is, most of us are guilty of at least a few of these financial mishaps, and it can serve as a great check point if you are finding that you just don’t have enough money left at the end of the month. In this case, you really can learn a lot from the book and it does serve its purpose quite well.
Overall, this was a pleasant read that was quite funny in spots. However, you could pretty much assemble your own copy by paying attention to the news and reading about how Americans spend too much, save too little and fritter away our lives. Is it essential reading? Probably not, but it’s still good for a laugh. It’s a great book to pass along to teens or college grads that are just getting started in life. They may learn a few great lessons and at the cover price, it won’t cost you much.
If you’re look for financial advice or a step-by-step guide on how to manage your finances, it’s probably best to look elsewhere. However, if you feel the need to reaffirm your commitment to getting your finances on track, it’s a great book to have around and revisit from time to time to make sure you’re doing things the right way.
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1 comment so far ↓
I like reading Stein’s books and columns. He and Phil Demuth have a great website as well. I am not crazy about his affection for variable annuity products. Apparently, his parents used them.
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