According to the Women’s Institute for a Secure Retirement, 80% of men die married while 80% of women die single. This statistic alone is motivation for women to become self-sufficient and master their money. It’s also why Manisha Thakor and Sharon Kedar are on a quest to turn their book, On My Own Two Feet, into a movement. Their goal is to teach women how to balance a desire to live well today with the need to save and invest for tomorrow.

Saving for a rainy day sounds good in theory, but how does it play out in America where we spend more than any other country on consumer goods? Thador and Kedar explain:

"Don’t assume that the woman dressed in designer jeans, stylish heels, and the latest handbag has got it all wrapped up, financially speaking. If there’s one thing our experience in the financial services industry has taught us, it’s that despite outward appearances of affluence, a shocking number of people are literally a stone’s throw away from financial disaster... It does not have to be this way. Empower yourself… and learn how to live your life from a place of financial strength and independence."

Here’s another scary fact: Over 70% of Americans today live paycheck to paycheck (courtesy of the American Payroll Associate). And many women fit this bill. Thador and Kedar give the tools for financial empowerment and begin by explaining the ins and outs of income and expenses.

Managing expenses is the clincher for many young women. An Oppenheimer Funds poll recently revealed that 50% of single women ages 21 to 34 reported that “at this time in their lives money is for spending and not saving.” Well, “saving is all about spending” and understanding our expenses is the first step in the process. The book breaks it down into three categories: foundation expenses, fun expenses and future expenses.

They explain how to embrace the budgeting basics and then how to invest these savings. On My Own Two Feet is divided into three parts:

1. The first section walks you through the five basic tools for financial success.
2. The second part discusses how to invest your hard earned savings.
3. The final section addresses strategies for dealing with potentially tricky real life situations.

I’m not the only one liking this primer. Here’s what a few bloggers said about it. Michelle Goodman at The Anti 9-to-5 Guide writes:

Fab new book! Whether you’re flying solo or shacked up, see On My Own Two Feet: A Modern Girl’s Guide to Personal Finance. Because, ladies, let’s be real: Financial life does not begin when you start sharing a bed with someone; it begins the second your parents cut you off. If you don’t have a financial clue, there’s no time like the present to get one.

Emily Davidow at The Panelist summarizes by noting:

In under 200 pages, you’ll learn what you need to do, why you need to do it, and how to do it. You get both the big picture and specific advice for budgeting, saving and investing wisely, maximizing your credit score, handling taxes, avoiding credit card debt, and making wise decisions on insurance plans, homes and cars. Another powerful section addresses the issues that can arise with money and relationships. Learning how to talk openly and get naked financially with your partner, create a shared game plan and protect yourself in case things don't work out, is worth the purchase price alone. You’ll also learn why it’s important to start now and take advantage of compound interest, so you can enjoy the freedom and autonomy to do whatever you want in the future.

And finally, here’s a young woman that started reading a copy of the book while waiting for triage in the emergency room. BiCoastal Gal writes:

Now, this is where the discovery of an amazing personal finance book came into my life (I can't believe I just uttered those words either!). This book will teach “a modern girl,” who is typically uninterested in finance, how to gain control of her personal finances, and not only get out of debt but savvily (is that a word) save for the near and far future. In a few short days, being glued to the couch and a slave to antibiotics, I have read and actually enjoyed and understood a subject that I once found boring, confusing and overwhelming.

I wasn’t completely clear if the copy was mistakenly left or placed like the Gideons do with bibles. Regardless, it sounds like the book appeared and financial salvation came in the nick of time. We can all use a bit of this money conviction! You can learn more at the On My Own Two Feet web site. I highly recommend it!

By the way, my only criticism of the book is how they quickly dismiss real estate as an investment vehicle. As some know, I like real estate and think diversification limits risks.

Louis J Glickman once said, “The best investment on earth is earth.” I don’t completely agree that it’s always the “best” investment, but it’s comforting to know that I can always live in one my homes. You can’t find shelter in a stock certificate!

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Nina blogs about money and her real estate holdings over at Queercents.