Wednesday, January 9, 2013

The 5 Money Personalities by Scott & Bethany Palmer

If I were to describe The 5 Money Personalities: Speaking the Same Love and Money Language in one word, I would have to use the word "eye-opening."

I was a bit surprised at how much the book focuses on the clashes many couples have in regards to money.  When I requested this book, I didn't really expect that but, in the introduction, the authors state that "this book is not a guide to managing your money" (p.xiv), saying that there are many other books out there to help you set a budget and manage your finances.  This book was written to help couples who just can't seem to meet in the middle when it comes to finances.

This book works off the basis of 5 money personalities, which are outlined in the book.  It is designed to be worked through as a couple, each chapter having a practical "to do" segment at the end.  If you just don't understand where your partner is coming from in terms of financial decisions that are made, the chapter explaining how the different personalities relate to each other would be helpful to you.

I would highly recommend this book to any couple who is having any sort of financial trouble at all, whether that be mountains of debt or not being able to understand each others' spending (or penny-pinching) habits.  It really opens your eyes to see that everyone is created differently and everyone deals with money differently.  No personality is "wrong"...each has their upside and downside, and the key is learning to work together as a team, despite having differing opinions on finances.

If you don't feel like money is a huge issue in your relationship, then you probably don't need this book.  While it WAS an interesting read, if you're looking for a book to help you become more efficient in saving or to help you set (and stick to!) a budget, there are other resources out there that could be more helpful to you.

I received this book from Thomas Nelson's Booksneeze blog reviewers program.  I am under no obligation to provide a positive review.