What: The 5 Money Personalities

Every couple argues about money. It doesn’t matter if you’ve been married for 40 years or dating for 4 months, money touches every decision you make as a couple—from the $5 cup of coffee to the $50,000 car. And when the two of you don’t see eye-to-eye on how much to spend or how much to save, that’s when arguments turn into ugly toxic fights that leave both persons feeling hurt and angry. It’s why money has become the #1 cause of divorce in the U.S. Obviously, something needs to change. The reason this crisis has not been addressed is because it has never been identified, defined, or given a name. Scott and Bethany Palmer, aka “The Money Couple,” have identified and defined this problem and offer concrete solutions to fix it.

It’s not just about money management, and it’s definitely not just about overcoming debt. It is a whole new way of living that will change everything in your relationship. Tens of thousands have already been transformed. Are you ready?

My take:

– Easy read. I flew through this book. Easy to read, lots of real life illustrations, engaging, entertaining, and just plain old well written. Although not a flawless book, at least the reading of it was rather enjoyable.

– Unique perspective. Rather than getting hung up on the nitty gritty of money decisions, this book digs deeper into who you are when it comes to money and why that matters. Understanding who you are, and perhaps more importantly who your spouse is, in the money arena will add some enlightenment to the decisions you have made and the ones you have yet to make.

– Useful tool. While you could read it straight through, it really reads best in separate sessions. Great for a bedtime book for couples, or Saturday morning coffee book. Read a quick chapter together and talk about the action points at the end.

– Written by two spenders. I have to mention this because it stood out to both my husband and myself. My husband and I are one of those rare couples that find themselves in the same category — both savers, both security seekers (although to varying degrees). Reading a book by two self-proclaimed spenders I felt a bit misunderstood, and sometimes even mocked. I could’ve easily written the counter criticism for the spender, but that’s not the point, I don’t think, of recognizing money personalities. They still pour out lots of good advice, but if you read this book as a saver, know that you might feel a little defensive at times, and in my view that’s just fine. 🙂

– Some personalities overlooked? I also felt like there were some other significant areas of my money personality that didn’t get addressed. Stewardship, generosity, and faith might be hard to classify, but they are a huge part of my money decisions. I don’t know how they could be worked into their paradigm, but I did feel like there were some gaps in the 5 personalities they tried to boil things down to.

– Even more on the website. The website has more great tools for evaluating your money personality and how to come to greater agreement without arguing.

– Significance of dreams. This drew me in right from the beginning. They really nailed it in their discussion of dreams. We do often lose our dreams over time. I think that’s kind of what the movie “Up” hovered around. The Palmers want you to know you don’t need to lose your dreams. You can chase them and recapture them again, as a couple. This book is definitely just as much about a quality marriage relationship as it is about money.

– Practical tips. While a lot of the book is offering information, analysis, and perspective, it does get down to the practical before too long. Getting rid of financial infidelity, dumping, and having a money huddle are some of the practical areas that they offer very real life ideas on building or rebuilding your relationship.

This book offers great tips and perspective on overcoming money differences in your marriage relationship. None of us married our clone, so anyone can benefit from this book. As homeschoolers, living on one income, we at times feel the pinch a bit tighter than others might. I think this book can really help you come together on money issues even while retaining your unique money personality. A great read!