Review: Financial Guide For Single Mothers: Secure Your Family Welfare by Amit Eshet

Financial Guide For Single Mothers: Secure Your Family Welfare by Amit Eshet
Link to buy
ASIN B009W7QWL8

Rating: 3 out of 5
Review:

I went into this book with preconceived notions about it, but was pleasantly surprised by the first chapter. Books and articles about managing personal finance typically offer the same advice: make a budget and stick to it, pay off high-interest credit cards, get a part-time job over the holidays so you don't go into debt buying presents, etc. Sure, it's all good advice, but none of it will help if you have an immediate problem feeding your children or keeping a roof over your heads.

Financial Guide for Single Mothers starts off by suggesting places readers can go for help, whether they need money or food. The book acknowledges that child support isn't possible for many single moms, sometimes because the father of their child(ren) isn't working so has no wages to garnish.

Later in the book, the author gets to the obligatory budgeting section and does suggest finding a supplementary income stream – specifically checking online for work-at-home opportunities. That advice is questionable at best because of the number of scams floating around out there. If you're looking for extra money on the internet, it's more likely that you'll accidentally end up sending cash to a fake Nigerian prince than finding a legitimate job.

This book of financial basics is uneven in spots. For instance, the first chapter examines governmental and charity sources that can provide single mothers with cash and food assistance. Then the next chapter is a pep talk about how to convince yourself that money isn't evil and if you have money it doesn't mean you're a bad person. Following this is a chapter about financial aid for single moms who want to return to school. All of this information is valuable, but it's presented in a strange order that's a little jarring.

Readers could use more specific details in spots to give them a head-start on finding the help they need. Chapter 3 focuses on scholarships specifically for single moms so they can attend college. Scholarship organizations and brief descriptions of who qualifies for the money are listed, but there aren't any websites provided. It would be helpful if website links and a link to application criteria were offered.

The chapter on loans and interest also left something to be desired. It was too short and over-simplified. The author offered a link to another book on the topic, but many readers will balk at having to buy another book when they had expected their questions to be answered by this one. Also, this chapter wrapped up by saying that using loans properly can "Leverage your finance situation," but there's no explanation of what that means.

At only 46 pages, this is a short read, but those pages offer an overview of a very broad topic. Author Amit Eshet's tone is helpful and understanding. The book feels like the reader is being given advice by an experienced friend who isn't judging the reader for whatever financial circumstances she finds herself in. It also suggests enlisting the aid of one's children to help achieve financial goals. There's no reason that children must become the enemy while grocery shopping on a budget.

Another good thing about this book is that each chapter ends with "Action Items." They list actions the reader should take to achieve specific financial goals. Some of these items are more difficult and time-consuming than others, and some readers might be frustrated by having to do the equivalent of homework. However, this book doesn't pretend that it will do the work for the reader; gaining financial security is a challenge that doesn't happen overnight. But with a little information and a plan, it's definitely possible. 

Reviewed by Peter