Money Savings

In The Recessionistas, a new novel by Wall Street financial whiz Alexandra Lebenthal, the economic crisis hits the Upper East Side — sending four socialites scrambling in their Manolos. As their worlds and their bank accounts take a serious hit, these fierce females power on, stopping at nothing to get what they want.

Related: How to Get (and Keep!) a Job in a Tough Economy

Lebenthal has first-hand experience with these kinds of characters in real life — as the President and CEO of Lebenthal & Co, a financial advisory firm, she entered the world of finance when she was just 23 and was running the company by age 31. A few years ago, Lebenthal began writing a column on NewYorkSocialDiary.com, where her witty commentary on the people who inhabit the world of Wall Street won an army of fans. One such fan happened to be a literary agent, who convinced Lebenthal to write a novel based on actual events. Three short months later, she delivered her manuscript. Here, she doles out some free money advice (thanks, we'll take it!).

1. Teach Yourself.

"One of the great things about the internet is that it really gives people the ability to learn things without having to expose themselves as a neophyte. So, whether it's a site like iVillage, which has a great basic money and investing section, or the website of a mutual fund company, you can go at your own pace and figure out what you want to learn and then have enough information to talk to somebody further. So I think that's a great place to start."

Related: 4 Money Questions You Must Ask Your Guy

2. Find a Financial Adviser You Feel Comfortable With.

"I think that a lot of times women really are better off dealing with women because there is just a natural comfort level and it's a natural conversation. Women like to talk, so you want to have a conversation about it, you want to ask questions and say, "What do you think about this/what do you think about that?" I think that sometimes when men are dealing with women, you don't get that kind of dialogue and that comfort level. There are some great male financial advisers, but I just do see a lot that women just feel more comfortable dealing with women."

Related: 12 Ways to Save Money Fast

3. Start Saving and Investing Early.

"I would recommend that people have both an IRA and 401K at their company. The great thing about a 401K is that most companies match the contribution to a certain point. So if you think about it, its really like you're making more money than you thought you were because your company is giving that money to you. The other great thing about a 401k is that it's not something you have to do consciously. So you make the determination about what percentage of you want to contribute and then it automatically happens. It's not like you have to make a choice, it just happens."

Related: Save $250 in 30 Days

4. Set a Budget.

"Take a hard look at your budget and determine how much you can really afford to save. Use the calculator at bankrate.com where you can put in, say, "I'm going to save $3,000 a year for the next ten years, and let me just say it's going to earn five percent." And then you can see what that builds up to. As I said before, the earlier you can start, the more time you have to let that money build up over time."