Review: The 5 Money Personalities
According to published reports from marriage counselors, every couple has disagreements over money. Are you a Spender or Saver? In the book by Scott and Bethany Palmer, The 5 Money Personalities; they discuss the various ways people see and manage money.
They demonstrate that even when a couple has a high income level and a solid financial plan, they often still have fights over money. These disagreements usually are over items that range for the $4.95 cup of specialty coffee to one or the other making a larger purchase without considering the other person.
The book explores five of what the authors refer to as “money personalities”, referring to the way a person views and manages money. Everyone has a primary and secondary money personality, and the way those personalities interact within the person affects how they handle finances. The authors stress that it isn’t usually a budget or income that couples fight over, but feelings stemming from the way each of them handles or thinks about money. The book also explores what the authors call the “opposite dynamic”, which results from conflicting personalities within one person or between spouses.
Once readers work through the book, they are able to determine their own money personality. Couples are then encouraged to work together and communicate in a way that fosters love, understanding and compromise rather than conflict.
I would recommend this book to all couples. Couples that are able to establish the habits and lessons in this book before they are married can avoid a lot of conflict. Battles over money can be toxic to your relationship. This book is a wonderful tool to get couples on the same page and team in their battle with repairing a conflicted money relationship.
I received this book for free from the publisher through the BookSneeze®.com book review bloggers program. I was not required to write a positive review and the opinions and thoughts I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255