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Friday, January 18, 2013

The 5 Money Personalities- a Review and Giveaway

I'm going to confess something I've only told a handful of people up until now...about 7 years into married life, my marriage almost ended.  I had gotten a statement from an investment account that had been started for us when we got married.  The $10,000 that should have been there was gone.  Entirely.  I thought there was a mistake, but upon calling them, it turned out that all the withdrawals had been made by my husband.  You can imagine the conversation that night was a little...heated.  And it got worse.  Not only had he drained our savings, he had used private credit cards and gone tens of thousands of dollars in debt.  We had an almost 2 year old, I was due to give birth to our second child in a few months, and we were $50,000 in debt with no savings.  It was NOT pretty.
It was literally only our mutual commitment to the idea that divorce is Biblical wrong that held our marriage together at a time when I felt like I could not trust my husband at all.  God is strong in our weakness, and I learned that firsthand through that trial.  But I also learned that my husband and I have very, VERY different ideas about money.  I only wish The 5 Money Personalities had been written back then--it might have saved us from a lot of strife.
The 5 Money Personalities was written by Scott and Bethany Palmer, The Money Couple, who are both financial planners and regulars on national TV and radio speaking about the topic of "love and money".  They have dedicated their lives to helping couples use the 5 Money Personalities to bring their love and their money personalities together in a way that makes the relationship better, stronger, and healthier.
The 5 Money Personalities opens with a 90 day this book and "make it happen" by working with your spouse for 90 days on your money relationship.  They talk about how marriage relationships are deeply affected by each party's money personality.  After all, what couple do you know that has never argued about money?  They describe it this way:

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.
Once you know your Money Personality, you can get to the root of money arguments and start really working together. You’ll discover what has an impact on your loved one’s money decisions, and you’ll learn how to talk about money in a way that’s actually fun! You’ll figure out how to put an end to money secrets and lies once and for all.
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? 

This book isn't about how to create a balanced budget or reduce your mortgage--they contend that there are plenty of other resources out there to teach that.  This book teaches you how to understand your relationship with money, your "money personality", and then how to reconcile your spouse's money personality with your own for the betterment of your marriage and your mutual money management. 
So what are my thoughts on The 5 Money Personalities?  I wish this book had been around when my husband and I were married 20 years ago, but it's never too late to make your relationship better.  I have not had this book in my possession for anywhere close to 90 days, but I can tell already it is life changing.  I just have to convince my husband that this is a journey he wants to take with me :-).  I think young people considering marriage should have to read this before they get married so that they can begin on solid financial ground.  I can't wait to be able to work through this with my husband, and I fully intend for my children to use it in the future!  If you've ever disagreed with your spouse over how to manage or spend money, you need this book.
So where can you get more information?  Check out the links below.
Website:   --includes a FREE Money Personality Profile                       Facebook:                        Twitter:                        YouTube:
The book is just being released, but is currently available from Amazon, Barnes and Noble, and CBD.  The full retail is $15.99, but it's roughly $11 on Amazon.  But one lucky reader can win a copy for FREE, just enter my giveaway below!

a Rafflecopter giveaway
Disclosure of Material Connection: I received one or more of the products or services mentioned above for free in hope that I would mention it on my blog. Regardless, I only recommend products or services I use personally and believe will be good for my readers. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255: "Guides Concerning the Use of Endorsements and Testimonials in Advertising".
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Rhea B said...

I never realized there were personalities but it makes sense seeing how my friends all treat money differently. I need to be more comfortable about talking about money myself.

Elyse Rinehart said...

Hello! I am hopping over from HR to say hi and to follow your blog. I look forward to becoming a new reader of yours. See you around! ~Elyse/Oiralinde

Lara V said...

Hi!! Just found you on the mosaics group and am a new follower!!

Lara V said...

Hi found you on HR Mosaics group and following you.

Anonymous said...

Without doing a reading yet, I bet I am a spender, I am almost sure of it! I could really use this book as well as my husband. Crossing my fingers!!!

Sonya Caskey said...

I don't have the definitions, but I would probably be a "safety seeker." We have come a long way from being spenders.

Sonya Caskey said...

I would say that I am a safety seeker. My man and I have come a long way from being spenders.

benbidder said...

Saying hey! Making the rounds from MR! :) Have a great weekend! :) Interesting book! I will have to check it out..

Alicia said...

Stopping by and following from the Mosaic Review Team ... thanks for visiting my blog! Great giveaway!!
Alicia @ Joy in the Everyday

Sherry said...

The quiz said I am a Saver and Security seeker, no surprise there. The book sounds interesting, thanks Amy.

Knittycat said...

I'll bet I'm a spender. Glad to be on the Mosaics Team with you!

Knittycat said...

I bet I'm a spender :) Glad to be on the Mosaics Team with you!


Charlotte Dawn said...

Hello from Mosaics! I am pretty sure my hubby and I are polar opposites..I need to check this book out!