BUSINESSWEEK ONLINE : JULY 10, 2000 ISSUE
BOOKS

In the Chips


RIGHT ON THE MONEY!
Taking Control of Your Personal Finances

By Chris Farrell
Villard -- 286pp -- $23.95

While the democratization of finance has arguably been good for U.S. society, many people now feel constant stress from the pressures of managing their own money. In Right on the Money: Taking Control of Your Personal Finances, Contributing Economics Editor Chris Farrell makes clear that he believes individuals should take charge. But Farrell's advice is to keep it simple, ''without turning managing your money into a second job.''

Written largely for the money-phobic and neophytes, Farrell's book offers primers on such topics as: buying a house or car, insurance, investing, and saving for your kids' college and your own retirement. And most topics are discussed through the experiences of people whom Farrell has met or interviewed as host and managing editor of Right on the Money, a personal-finance TV show produced by Twin Cities Public Television.

Farrell promotes a holistic approach, urging individuals to pursue strategies that don't conflict with their values and other life goals. For one, Farrell recommends ignoring the old saw to buy ''as much house as you can afford,'' and buy less--so you're not strapped for mortgage and home-repair bills. And while he challenges readers to look for easy ways to cut costs--say, forgoing that $2.50 cappuccino each morning--he advocates taking that annual vacation if it means retaining your sanity. ''Don't transform the smart idea of saving for tomorrow into a rigid ideology of denial that dominates your life,'' he advises.



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PHOTO: Cover, ``Right on the Money''



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