This was a really good book. The author shares her experiences and details the five things that are keeping you poor. It’s cognitive-behavioral therapy and it’s cool.
I was really able to identify with her talking about being more afraid of failing than I am of quitting. That’s one of the things that’s holding me back from living life to its fullest. it was really interesting and her thoughts that are holding you back and keeping you from changing your money habits were right on target for the most part. She gives you insight into how you may be thinking and then tells you how you can change it. While some of her solutions seemed a little simplistic – think positive! – there is some truth to those as well. If you can turn your negative self-talk into positive, things will go easier for you. Even when bad things happen, you won’t be fazed by them as much as if you were someone who thought negatively all the time.
I know that I saw myself in the pages of this book and it was things that I don’t often think of in terms of money management. Why fake-it-til-you-make-it is a bad idea for example. It’s great if you’re talking about smiling, but when you’re talking about money, not so much. You are generally faking way above your ability to pay for it. She advises snowballing your debts, tracking your expenses, living on a cash basis, and all of the other standard advice. But she doesn’t give it until the end of the book. You need to deal with your thinking about money before you can change your habits associated with it. It makes sense. Just like with losing weight, if you don’t change your attitude surrounding food, all the diets in the world won’t work because they’ll feel like deprivation. Same goes with money. Budgets are a generally bad idea, they’re too much like diets.
Anyway, I’d recommend this book. It’s a new way of looking at your desire to change your money habits, and it’ll get you thinking about how you relate to money. Very cool.