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Book Review of:
Three Online Finance Books 

From the March, 2001 issue of PC Alamode Magazine
by Susan Ives
A few months ago the Oasis Senior Learning Center at Ingram Park Mall sweet-talked me into giving a talk on online banking. They ignored my protests that I knew nothing about banking, online, offline or any other kind of line. They are onto me. I often lecture about things I know nothing about, although I do bone up on every topic. I conscientiously trotted to the bookstore and spent $60 on books about online finance. My financial advice to you is: don’t do this. One book will do you fine. I’ve donated all three books to the Alamo PC Resource Center Library, so savvy investors can check them out and keep their money in the bank, earning interest.

The Complete Idiot’s Guide to Online Personal Finance
By Bonnie Biafore
Alpha Books/Que, 2000, 362 pages, $18.95

coverThis was the best of the bunch, a combination financial and high-tech primer. Chapters include an introduction to personal finance, including budgeting and getting out of debt; using the Internet for personal finance, including online banking, researching credit cards and loans, insurance and taxes; saving money, including college and retirement savings; 
investing on the Internet; avoiding scams and security and safety. Appendices include a primer on getting online, a list of personal finance web sites and a glossary. 

The book is well organized, with plenty of legible screen captures. The language is non-technical in its use of both financial and computer terms. Important tips are highlighted. The tone is light without being condescending. Although the title of the book is Online Personal Finance, there is significant coverage of offline computer applications, such as the use of Quicken and generic spreadsheets for budgeting and expenditure tracking. The author is the Director of the Denver Chapter of the National Association of Investors Corporation.

SAMS Teach Yourself Today e-Personal Finance
By Ken and Daria Dolan
SAMS, 2000, 232 pages, $17.99
cover
The Dolans host their own radio and TV shows and have a plain-speaking, down-to-earth style. Chapters include setting up a good strategy, including budgeting, online banking and credit and debt; building and protecting your wealth, including insurance, taxes and online investing; meeting goals, including family finance, online real estate and college costs; securing your golden years, including retirement planning, wills and estate planning; a list of web sites and a glossary.  The biggest gap in the contents is in security and scams, the area where I get the most questions. Their coverage of software is also scanty, mentioning programs such as Quicken only in passing.

Getting Started in Online Personal Finance
By Brad Hill
John Wiley & Sons, 2001, 296 pages, $19.95
cover
I found this book the least useful, perhaps because the author is primarily a computer guy rather than a finance guy. Chapters include understanding online banking, insurance, loans, mortgages, credit cards and investing, plus a glossary. The text concentrates narrowly on online applications, with no general financial advice; this might appeal to readers with a lot of financial savvy but little online experience. As with the previous book, there is little coverage (only 3 pages) on security and very little discussion of financial software. The majority of the book is annotated Web site links, with some good tips on what to look for in each category.

Local banks are starting to market their web-based banking services heavily. If you’re tempted to sign up, books such as these can educate you about the benefits and pitfalls you’ll be facing. I bought all three books at the Borders in Huebner Oaks, but they are available at any large bookstore, as well as online at Amazon.com.

Susan Ives is a former president of Alamo PC.