The Black Woman's Guide to Financial Independence

Broussard, co-owner of a money management firm in Oakland, Calif., believes that black women must learn to handle their finances more effectively to succeed in today's world. Originally self-published, the book walks readers through the basics of personal finance, including setting goals, establishing a budget, buying insurance and saving for retirement. While her financial advice is generally sound and the work sheets helpful, readers may find some of Broussard's generalizations offensive, particularly when she suggests that black women need to ""develop savings habits and forgo buying $300 designer handbags"" or that ""Many parents of middle class Black families have a tendency to shower their children with expensive toys and clothes having a certain status symbol."" Two aspects of her financial advice are particularly troubling. She urges readers to invest even a small portion of their portfolios in precious metals or commodities, investments that are too risky for most people. And, since many people consider themselves lucky to get and pay off even one mortgage, it seems unrealistic to assert that ""For Black women seeking financial independence, it is essential that you own not only your home but other real estate as well."" Clearly intended for those who wish to ally themselves with their community-Broussard urges readers to make charitable contributions only to black organizations-the book will help some people gain an awareness of their finances. But any number of financial primers would serve equally well. (Feb.)