The Secret Language of Money: How to Make Smarter Financial Decisions and Live a Richer Life | Date: 28 April 2011, 08:06
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The Secret Language of Money: How to Make Smarter Financial Decisions and Live a Richer Life
By David Krueger, John David Mann
* Publisher: McGraw-Hill
* Number Of Pages: 288
* Publication Date: 2009-07-23
* ISBN-10 / ASIN: 0071623396
* ISBN-13 / EAN: 9780071623391
Product Description:
If money were about math, none of us would be carrying any debt.
The numbers are simple. What’s complicated is what we do with money. We use money to soothe our feelings and buy respect, to show how much we care or how little. We don’t simply earn, save, and spend money: we flirt with it, crave it, and scorn it; we punish and reward ourselves with it.
Without realizing it, we give money meaning it doesn’t really have—what former psychiatrist and current business coach David Krueger calls our “money story.” And in the process of playing out that money story, we often sacrifice the most important things in our life: our health, freedom, relationships, and happiness.
What is your money story?
* Do you consistently spend more than you have?
* Do you follow the herd in your investments—even though you know the herd is usually wrong?
* Have you neglected to save for the future, even when you have the means?
* Do you feel controlled or shackled by debt?
* Is your money somehow never “enough”?
* Is money, or the lack of it, always on your mind?
The Secret Language of Money is a guided tour to the subconscious meanings we give money, the conflicted ways our braindeals with money, the reasons we tend to make the same money mistakes over and over—and most importantly, how you can change all that.
A brilliant blend of cutting-edge science and real-world application, The Secret Language of Money helps you rewrite your money story and find that elusive balance of wealth, health, and joy we all seek.
Summary: Excellent book
Rating: 5
This book has an excellent message on how to be smart with the money you have and earn. It also awakens your inner peace and gratitude towards everything you have no matter how little or big you think it is. I love it and recommend it even to teenagers.
Summary: Really good stuff
Rating: 5
It really makes you think about what stops you from being free. Free from being emotional about money, from taking it for something else, from using it otherwise than for what it is supposed to.
Summary: Kindle Rip-off
Rating: 1
The kindle price of only a few $$$ less than the discounted hardcover price is terrible. You can not share or re-sell the kindle version so that lowers its value.
Summary: Boycott kindle books over 9.99
Rating: 1
Amazon promised 9.99 books with kindle, now I see more and more new books coming out at high price tags. If you are a kindle owner please consider expressing your ire with your wallets.
Summary: Change your money story, change your life
Rating: 5
Perhaps you have read The Richest Man in Babylon or The Automatic Millionaire. Both of those books teach you how to handle your money. But in my mind they are a lot like many weight loss books that advise you to eat less and exercise more. If you do that you certainly will lose weight.
And if you follow the advice in either of the two books mentioned, you will be able to manage your money. But the problem is more than just knowing what to do with money, it is doing it. Everyone knows what they should do with their money. Spend less than you earn, save for a rainy day. The problem is doing it.
And that is where The Secret Language of Money offers a real service to its readers. It goes beyond the spend less, save more mantra and takes an in-depth look at how our lives are totally wrapped around how we view money.
The first thing the book does is to show how interwoven our money story is with our lives. We use money to represent many different things. And we try to use money to do things that it cannot do. We try to use money to "alter our moods, increase our self-esteem, and control others. We use money to try to soothe emotional pains and to buy the respect of others and ourselves." The more we try to do with money, the less we understand it.
Our money story is so complex that we often refuse to fully examine how we think about money. There are countless people who are afraid to really face their money beliefs. And if you are not aware of your money story, you will be powerless to alter it.
The book is filled with real life examples that Dave shares with us from his professional practice. And there are lessons to be learned from each case study.
There is also an interesting recount of some of history's largest financial scams and speculative bubbles along with advice on how to avoid being scammed or falling into the speculative bubble trap. As a nation we would have been much better off if collectively we had heeded this advice and avoided the sub-prime mortgage meltdown.
The book is also filled with exercises that will allow you to uncover your own personal money story and then to rewrite it in a healthier way.
Unfortunately we are a consumer society and have been lead to believe that money will bring us the happiness we seek. Nothing could be further from the truth. As you will learn reading this book, the more we seek happiness through money, the more disappointed we are likely to be. We have experienced a steady rise in wealth but a corresponding steady decline in our perceived state of happiness.
The solution is to understand the way you feel about money and what money means to you. Then sort out your ideals, needs and wants. Make sure that your wants do not dictate your life.
In my opinion, the most important concept in the book is, "Your new money story begins with determining not what it is that you want to have, but who it is you want to be."
The book is well written and full of interesting stories to drive home the points being made. There are numerous exercises that will shed lots of light on your money story.
Your money story is completely intertwined with your life - make sure it is correct. This book will help you understand your money story and make the necessary changes to lead to a happier more productive life.
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