- Thomas M.
- Friday, July 21, 2023
The Financial Literacy book review series #FinLit recommends thought-provoking books about money, investing, and personal finance. This post is about Money Out Loud: All The Financial Stuff No One Taught Us by Berna Anat.
This book is for the young and young-at-heart (like me) who are figuring it out; for those of us who don't have the privilege of simply forwarding confusing money stuff to our parents or asking the family's financial advisor for help. You're not alone anymore. You got me. You got us.
Berna Anat is one of those personalities who lights up the financial world. The information in this book is enhanced by her personality and network at every turn. For example, she explains the 50/30/20 rule of budgeting (spend 50% of your income on your needs, 30% on your wants, and 20% to savings and debt). She then skewers that rule, explaining how the cost of living has skyrocketed in several ways over time while income levels have not. It's okay, though, she is a self-designated Financial Hype Woman, and she is here to guide you through everything you need to know to build a solid financial foundation.
Anat is also good at using analogies to explain complex or dry concepts. Investments and brokerage accounts become plants and gardens. Banks and bank accounts become types of friends. She even explains how The Little Mermaid and student debt have more in common than you might think. Financial literacy can be taught a number of ways, and her ability to relate to the reader through creative language makes the material more interesting to read than a plain textbook (it was probably more fun to write, too). It feels good to see a book of financial advice cut to the chase and give an honest take on a topic, like a section about side hustles immediately warning against Multi-Level Marketing companies, aka pyramid schemes.
Fun doodles appear every so often too, like a glowing trophy that reads, "You Stuck To Your Budget! (Kinda)" and an all-caps sign declaring, "MONEY CARE IS SELF-CARE." Anat is not afraid to get loud to emphasize her message, including when it is humorous.
Interviews with LGBTQ and BIPOC personal finance experts add to the diversity of representation and expression. The book is socially conscious on a number of fronts, including vetting one's bank and investments to see how they support their community, acknowledging stolen lands and the Land Tax movement, and finding worthy charities that match your values. Compromises are also acknowledged, though. Anat reassures readers there's no judgment over doing what one must to survive or stay within a budget.
Between the humor, expert network, relatable voice, and emphasis on supporting marginalized voices and communities, Anat has plenty to shout about, and everyone is invited to listen.
Thomas M. is a Certified Financial Education Instructor℠ (CFEI®) and has previously blogged about Financial Lessons That Can Backfire, Talking To Kids About Money, and Online Financial Literacy Library Resources.