Cold Hard Truth On Men, Women, and Money: 50 Common Money Mistakes and How to Fix Them Paperback – Big Book, July 8, 2014

Having been a fan of TV's "Shark Tank" for several years and an avid reader of business and finance books, I decided to give Kevin O'Leary's precedence over books that the other Sharks wrote. The reason for this is that while Kevin doesn't come across as the nicest Shark in the tank, he certainly has a laser-like focus on money and investment, what niche products are and what a good business strategy is. It's not that the other Sharks don't, it's just that Kevin's approach is direct and, like him or not, he'll tell an entrepreneur on the show that an idea/product is doomed to fail, point blank.Not too long ago, I read "Stop Acting Rich . . . and Start Living Like a Real Millionaire" by Thomas J. Stanley. O'Leary's book is a complement to Stanley's, because there is a resounding reiteration that conspicuous consumption does not a millionaire make. In fact, quite the opposite. By the time most people become millionaire's, they have ingrained saving and investment habits. They're not out buying luxury vehicles, but eating rice and beans and socking away whatever they can.Kevin covers quite a lot of material in this book and he proves to be a good, concise writer on both personal, personal finance and business. The subject matter ranges from banking, to credit cards, to weddings, to college, to adult kids living in the house, to saving for retirement, to real estate (as an investment and for general living purposes). Interestingly, the target readers of some sections are different. For example, when he talks about college, he's primarily directing his prose to young adults, but when he's talking about adult kids living with their parents, he's generally talking to said parents and indicating ways to get the kids out of the nest. So there's something for everyone in this book.Oddly, he doesn't mention banking at credit unions, where they don't--in my case, at least--require minimum balances and such.

You know the name and reputation from Shark Tank. Mr. Wonderful is always asking "how do I make money?" to each person asking for an investment, so have you wondered how he manages his money?While there are no real earth shattering secrets in this book, are there really any for money management, he does point out some simple and easy changes that can go a long way to improving your financial situation. What he presents are not only for the wealthy, they can help anyone make small improvements to their financial health. He makes you think about what you spend your money on as has a term for some things we spend money on called "ghost money." This is essential money that is dead.Here are some of the items he says can be "ghost money"That daily $5 coffeeMagazinesDVDsAll of those extra TV channelsHe does provide a template for a budget, and its really reasonable.By the time you finish the very easy read, you should be thinking about everything you spend money and start to ask yourself if that expense is really necessary. If you follow just a few tips, your bank account will thank you for it. Its never too late to start, but it could be too late by the time it matters. This is not another, look I am on TV so by my book and make me more money, but a here are some money tips to make sure your life is better and those retirement years are easier to handle.Pick it up, read it and improve your financial life.

Likes:• Straight to the point• Sound financial “life advice”• The genuine Mr. Wonderful• Basic investing adviceWish it had more of:• Real-world investing advice(most of the advice was what percentage to allocate your investment in sectors and always invest in stocks with dividends)• Realistic ideas(some of the ideas I think people might find borderline offensive and just plain unrealistic. For instance, not to get married, never go out to eat, don’t have kids, don’t have pets etc.) Of course some of these are made in good humor and then an alternative solution is made which seems to be the underlying theme throughout this bookOverall:Similar to many others I purchased this book because I watch shark tank religiously and I like the “Mr. wonderful” character on the show. I also wanted to learn a little more about Mr. O’Leary to see how he made his fortune. You have to ask yourself, “is this just marketing crap to make money because every shark on the show has multiple books out now, or is this a genuine interest in educating/sharing experience, knowledge, and expertise to the general population.” I kept the frame of mind that it was a sincere interest in sharing success. There were many times while was reading this book on my Kindle that I wanted to throw it against the wall because it was so unbelievably “stupid,”but then I would fall asleep and think about it the next day and a in the purist form, it made sense. Even though a lot of the ideas are ridiculous for society in America, you still come away with ideas that can be less harsh and perhaps work for you. For example, not everyone has to go to college. I have to say, I agree, not everyone has to go to college and some might be better suited for some specific trade hence vocational school. I think if you have kids it’s not a bad idea to evaluate this and get off the hype that everyone has to go to college. However, in the early chapters, I found it a little irritating that in your 20s all you should do is work and really never go out have fun. Some people might want to live their life like that…. I think this is a very personal choice. For me, I like to live in the moment and I look at my 20s and 30s as a time to share a ton of experiences while you’re young and in a responsible manner. O’Leary’s book seems to be the opposite, at least that’s how I took it. As I read deeper into the book, I was able to train myself to see through the BS of not doing anything besides working and saving, and actually take away some useful BASIC money tips. Money Karma is real and you need to respect that.