Wednesday, February 13, 2013

“The 5 Money Personalities” by Scott and Bethany Palmer

As the authors state in the introduction, this is not a book about how to create budgets or manage your money. Instead, it guides you though identifying your own relationship with money. Are you a spender, do you save money at all costs, are you seeking security through your financial decisions? The book explores five identified “money personalities” and helps you detect which primary and secondary “personalities” you identify with the most. Once you (and your significant other) identify your types, the rest of the book discusses the advantages and pitfalls of your personalities working together. 

I found the descriptions of the five money personalities interesting. I always assumed I was a blanket “saver”, but it turns out I am primarily a “security seeker” with a “saver” backup personality.  The authors did a good job describing how similar outlooks on money bring some drawbacks (imagine two spenders together) and how differing views can complement each other. I didn't read this with my husband, so I probably missed out of some of the usefulness of the book as a whole. However, there is still value in learning more about your own views on money. It is clearly intended for couples to use together, so I would primarily recommend this for couples seeking to better understand their views on money and make more harmonious financial decisions.

Disclosure of Material Connection: I received this book free from the publisher through the BookSneeze®.com <http://BookSneeze®.com> book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255 <> : “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

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