Women And Money

By Andrea Sachs

At a time when memoir writers have become ever more extravagant in their claims (calling James Frey), you wouldn't think Liz Perle's confession that she had never balanced her checkbook would cause a ripple. But Perle, the author of Money, a Memoir, has a resume that commands attention in the publishing world--and among the fiscally responsible. At various points in her career, Perle has been the publisher of Prentice Hall, Addison Wesley and William Morrow/Avon. Given how high she rose in the book business, how could she be so neglectful of her personal finances?

She wonders about that too. In her new book, subtitled Women, Emotions, and Cash, Perle explores the disconnect between her work life and her personal life. "I was fearless about making decisions for corporations but totally full of fear about making my own," she admits. As far as money was concerned, she says, "I would do what it took to get it--work hard, marry right--but I didn't want to have to think about it."

Not a good strategy, Perle discovered when her husband walked out with all the family finances in his name. In the aftermath, Perle was forced to confront her fiscal shortcomings. "Disappointments, reversals, divorce or death have taught us that we have to take direct responsibility for our financial lives," she writes.

Perle is not a traditional financial writer in the school of Suze Orman but rather a keen psychological observer of her own guilt, magical thinking and emotional dodges when it comes to money. Using herself as an example, she offers rules for how women can resist the fiscal wrongheadedness dragging them down. Among them:

Get Real It took Perle years. "Embarrassed and occasionally unnerved by my own tendency toward erratic fiscal behavior, I've stubbornly refused to examine it, instead choosing to pin my hopes on that white knight, dream job, unknown dead rich uncle, or winning lottery number," she writes.

Examine the State of the Union Marriage is a financial contract, like it or not, says the author. "Most of us steadfastly refuse to look at it that way--until we have to."

Keep Your Eye on the Bottom Line Perle says ruefully, "I had drunk the cultural Kool-Aid that told me that having a husband meant social and fiscal security and that I wouldn't have to deal with my own financial well-being."

Resist Your "Inner Stewardess" "During those panicky episodes when I feel the urgent need to stay connected to money at any cost, she pops out with her jaunty little hat and white gloves," she says.

Perle's take-home message: stop trying to please other people when your wallet is at stake.