Few people know how to manage their personal finances effectively. That’s why we spend millions of dollars every year on books and seminars that tell us how to get rich quick and get out of debt.
Suze Orman, Dave Ramsey, Robert Kiyosaki and David Bach are just some of the best-known personal finance experts advising and lecturing indebted Americans about their foolish and short-sighted money decisions. Yet these are exactly the individuals that the average person should not be listening to for financial solutions according to Helaine Olen, author of the new book "Pound Foolish: Exposing the Dark Side of the Personal Finance Industry" and former editor of the Money Makeover series in the Los Angeles Times.
In an interview with The Daily Ticker, Olen says these financial gurus offer either platitudes or “dreadful” advice that don’t apply to most people’s lives or situations.
“The idea that anyone can give specific advice to millions of people first of all doesn’t really work,” she says.
Read More »from Don’t Get Your Money Advice from Suze Orman, Dave Ramsey: Pound Foolish Author