Leeb attempts to debink the argument that we will simply find more oil to meet our needs, arguing that recent finds are in more difficult to access areas (deepwater ocean) and that even all of the discoveries announced are small drops in the bucket of our current consumption rates. He also argues that the free market is not the answer, as publicly traded companies often focus more on short-term results to satisfy shareholders and analysts than on long-term success.  

Where does all this end? According to Leeb, left unchecked this condition could lead to the end of our civilization, as nations fight wars over scarce resources needed to sustain their populations. He also argues that urgent action is needed now to avert this outcome, and even then we are likely headed towards a much simpler existance as society adapts to living with a relatively low level of resources available.

This was the jist of the first of three parts of the book. The second part discusses actions we should take as a society to combat this problem and the final part outlines investments to make to profit from these events. Although I don’t agree with all the conclusions made in the first part of the book (for instance, resources like iron ore are discussed as if they are gone completely once used, when in fact metals could be recycled to meet more productive future needs), I think there are some very interesting arguments and considerations for your personal planning and investments. I’ll post a review of the next two parts when I get through them.   

I thought the book was a good read and I would give it 4 out of 5 stars. Although many of the ideas and tips included in the book I had seen elsewhere, there were still things I had never seen before in my years as a cheap bastard, and it would be a great starting point for someone trying to shift to a more frugal lifestyle. Sharon makes a persuasive argument about how financially crippling an unchecked consumerist lifestyle can be using her own personal experiences, and sucessfully shows how a frugal lifestyle does not mean you have to miss out on the things many of us have come to enjoy. It would be perfect for a young person just starting out or the person adopting a more frugal lifestyle as a New Year’s Resolution.

My only criticisms of the book would be the following:

• The way the subject matter was organized seemed a bit random to me, although that could just be the difference between the mind of an accountant (me) and someone with activity on the right side of the brain.
• In places it read more like a blog than a book. It took me a little while to figure out the “M&D” referred to in the book was “Mom and Dad”.
• Some of the tips seem very specific to South Florida, where the author is based. I’m sure a lot of these can be replicated elsewhere, but references to stores and locations specific to South Florida aren’t that helpful to most readers.

Despite some shortcomings, it is still a worthwhile read. The price is quite reasonable at a list of $14.95, and you can get it from Amazon.comeven cheaper.

My apologies to Sharon for the lateness of my review. Nothing like a layoff, a job search, and two hurricanes to keep you away from your reading list. Hopefully this will provide a small second wave of publicity.

The book is Suze Orman’s latest (see has also written other popular finance books such as The Road to Wealth, The 9 Steps to Financial Freedom, and The Money Book for the Young, Fabulous & Broke). In the book, Orman discusses how we got into this current financial mess and detailed steps to deal with this very challenging environment. The book was sent to press in November, so it is probably one of the most current personal finance books on the market, although it does acknowledge at many points that things are rapidly changing.

Orman outlines seven “action plans”: credit, retirement investing, saving, spending, real estate, paying for college, and protecting your family. The entire book is a little over 200 pages, and is a very easy read (I finished it over a couple of lunch breaks, and I’m a pretty slow reader). Within each action plan, Orman identifies several common situations/decisions and discusses the most prudent course of action for each. She does a great job in explaining the effects the current crisis is having on consumer credit and the need for families to build emergency funds and eliminate frivilous spending.

I would recommend this book for: those who know they need to get their finances in shape, but don’t know where to start. If you spend too much and save to little, and use debt to pay for it all, this would be an excellent read. It would also be good for those that may describe themselves as less financially literate, with many questions about the current financial situation and what to do next.

I wouldn’t recommend this book for: people who rightfully regard themselves as financially savvy. A lot of the material covered is pretty basic in nature (with the exception of the discussion of the effects on consumer credit, which I think would be enlightening to most readers), and regular readers of personal finance magazines will have likely already been exposed to the subject matter.