Ali Velshi is a business correspondent on CNN. He has written this timely primer on the current state of our financial crisis. The first chapter explains how we got here with a simplified version of sub-prime mortgages. He then covers the basics of personal finance, looking at good vs. bad debt, savings, and investments. From there he delves more into the world of investments, explaining the available options to investors, some key principles, and how to build a custom portfolio.
This book is quite basic, which is not necessarily a bad thing. There are many people who have never considered their finances before now, and this may be the place to start. What I like about Velshi’s book is that the chapters are short and simplified for the beginner. At the end of each chapter there is a ‘what did we learn’ section that succinctly recaps what was covered and then a ‘coming up,’ which introduces the topics of the next chapter, much like television segments. I also found his explanation of the various investment options helpful. The world of stocks and bonds can be a confusing place, but Velshi breaks it down for the reader into manageable sections.
Gimme My Money Back is geared toward the complete novice. If you already invest, this book might be too basic for you, but if you’re not sure where to start, this is a great primer. I would also recommend Personal Finance for Dummies for those looking for basic material with broader coverage.
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