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Excerpt from Women & Money: Owning the Power to Control Your Destiny

By Suze Orman
'Women & Money' by Suze Orman

Suze Orman equips women with the financial knowledge and emotional awareness to overcome the blocks that have kept them from making more out of the money they have.

For Women Only

I never thought I'd write a book about money just for women. I never thought it was necessary. So then why am I doing just that in my eighth book? And why now? Let me explain.

All my previous books were written with the belief that gender is not a factor on any level in mastering the nuts and bolts of smart financial management. Women can invest, save, and handle debt just as well and skillfully as any man. I still believe that—why would anyone think differently?

So imagine my surprise when I learned that some of the people closest to me in my life were in the dark about their own finances. Clueless. Or, in some cases, willfully resisting doing what they knew needed to be done. I'm talking about smart, competent, accomplished women who present a face to the world that is pure confidence and capability. Do you mean to tell me that I, Suze Orman, who make my living solving the financial problems of total strangers, couldn't spot the trouble brewing so close to home? I don't think I'm blind; I just think that these women became very, very good at hiding their troubles from me. Why not? They had years of practice hiding them from themselves.

Frankly, I was shocked. It was a real reckoning. It began with a friend, a very high-powered businesswoman who handles millions and millions of dollars a year, who refused to sign will and trust documents I'd helped her to prepare. I can't tell you why, but those papers sat on her desk for three years—she clearly had some kind of block that prevented her from simply signing her name and having the documents notarized. Even as I write, she has still not completed them. Then another friend, a woman with some amazing professional credits under her belt, broke down and confessed that she had rung up such staggering bills over the years that she was too terrified to tell anyone and had no idea how to pay them off. Not long after, I heard from yet another friend who finally woke up to the fact that her employer was paying her significantly less than every other executive of comparable rank in her company. Her division was one of the most profitable and consistent earners for the company, but still she just accepted the minimal increases her boss would hand her every year at review time. And even now, out of some misguided loyalty, she was reluctant to leave the employer that took advantage of her year after year.

What was going on here?

Upon further investigation, I learned that so many women in my life—friends, acquaintances, readers, people from my TV audience—all had this stumbling block in common: an "unknown factor" that prevented them from doing the right thing with their money. Maybe it was fear of the unknown for some; maybe for others it was a little streak of rebellion for holding it together in every other part of their lives; or maybe it was just that they felt that things had gotten so far out of hand, they were embarrassed to ask for help and reveal just how much they didn't know.

 

Excerpted from Women & Money by Suze Orman Copyright © 2007 by Suze Orman. Excerpted by permission of Spiegel & Grau, a division of Random House, Inc. All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.