LiveWorld Transcripts

Borders.com presents

Barbara Stanny
Author of “Prince Charming Isn’t Coming”

May 06, 1999

NetCafeLive presents journalist and former career counselor, Barbara Stanny, author of “Prince Charming Isn’t Coming.” Based on personal experience, Stanny discusses the focus of her book—how women need to assume responsibility for their financial situation and offers advice on achieving “financial wisdom.”

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CCCheer: Welcome to NetCafeLive, where we host authors and celebrities throughout the month. Thanks for joining us! Borders NetCafeLive is a joint production of Borders.com(tm) and Talk City(tm), a Talk City, Inc. Production. Tonight's guest is Barbara Stanny, here to talk about her new book, "Prince Charming Isn't Coming.” Barbara Stanny is a journalist and former syndicated and career counselor. She is the co-author of "Choosing and CCCheer: Managing Financial Professionals - A Guide for Women" and CCCheer: "How To Be Happily Employed." She has discussed women CCCheer: and money on CNBC, MSNBC, ABC Worldwide News, NBC CCCheer: News, NPR and hundreds of other radio and TV programs. Barbara holds a master's degree in counseling psychology and CCCheer: lives in Port Townsend, Washington, with her family. Borders.com and Talkcity.com are pleased to welcome tonight's guest, Barbara Stanny. Welcome to TalkCity! It's great to have you with us Barbara, could you tell us about the book "Prince Charming Isn't Coming?"

Barbara Stanny: Thank you! You forgot to add the important part "How Women Get Smart About Money!" The book is based on my personal story, as the daughter of H & R Block, who was raised to believe that managing money is a man's job. But more importantly, it is also based on interviews with over 100 smart women--women who knew how to manage their money. After my financial crisis, I wanted to know how to get smart, and it was through these interviews that I learned how to get smart about money. I want to show others how they too can become smart, or smarter, about money.

CCCheer: Your book has inspired readers to save money and spend wisely. How do you find today's women managing money?

Barbara Stanny: I have been traveling around the country for over a year, talking to women's groups. I have been genuinely struck by how many women are passive and ignorant about money. What I keep hearing over and over again is "I know I should do more, but…."

CCCheer: Can you please discuss the "Seven Realizations of Financial Enlightenment" that you discuss in your book?

Barbara Stanny: OK, sure. I found, when I interviewed these smart women, that it wasn't what they did so much as how they thought that made them smart. What I was looking for was how these women went from ignorant to smart about money, and what I saw is that each of these women has come to a series of insights (ah-HA). I call them realizations, and there are seven realizations in all. When I incorporated these realizations in my thinking, that's when I was able to take charge of my money after 40 some years of trying. The realizations are really what form the soul of my book. All are important, but really the first one is the most critical, and no one truly takes charge of their finances until they come to this realization. That realization is, no one will do this for me.Prince Charming isn't coming. Prince Charming doesn't need to be a man. It could be anything like the lottery or a promotion that we think will rescue us financially. We need the commitment that comes from this first realization to accomplish the second one. The second realization is, learning follows a curve. What that means is that there is a learning curve, and this learning curve follows a series of stages. Unless we understand those stages, when we get overwhelmed, we will want to quit. Understanding this learning curve is very important, and I have a whole chapter devoted to it in the book.

CCCheer: Is this book for women only, or can men also benefit from it?

Barbara Stanny: Men love this book! No one taught either of us - men or women - how to manage money.

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