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The 5 Money Personalities {Book Review}

Disclosure: This could be a sponsored post or contain affiliate links (which means I earn a percentage of the sale), but all opinions are strictly my own.

At the beginning of each year, my husband and I like to sit down and reevaluate where we’re spending our money and our financial goals for the year.  We recently decided to max out his TSP for the year (quite a chunk of change each month!), so we’ve had to do a little juggling to make that happen.  It’s been a good month for us to determine our priorities for our use of money and also how we can work together to achieve this goal.

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That being said, The 5 Money Personalities is not a savings plan, get-rich-quick plan, or investment plan.  It doesn’t show examples of budgets or give suggestions for using coupons and finding the best deals.  Instead, this book focuses on your money personality and how it relates to your spouse’s money personality; these money personalities (Saver, Spender, Risk-Taker, Security Seeker, and Flyer) are key in determining how one relates to and uses money.  This book is clear in its assertion that there is no wrong money personality but that there can be conflicting money personalities, which is usually the reason for conflict in financial conversations between spouses.   Scott and Bethany Palmer give suggestions for spouses to sit down for 45 minutes each month with a very specific plan on how that time is used, and they also explain how spouses can come together and happily talk about money more effectively when they recognize their money personalities.

I was happy to have the chance to review The 5 Money Personalities by Scott and Bethany Palmer, though I’m not sure I was the best person to do it.  In our 8 1/2 years of marriage, we (amazingly) haven’t argued much about money; however, the times that we have argued about money have never really been about money itself but about something else related to the situation.  I agree with Scott and Bethany Palmer that we have a money relationship that should be considered just as much as any other part of our relationship in marriage.  I would recommend this book for anyone who feels like the talking about money with your spouse is a negative experience and doesn’t accomplish anything good — hopefully these suggestions can help you feel more successful in that conversation and in your financial planning.

I received this book for free from Thomas Nelson Publishing for this review, which goes along perfectly with my money personalities of Saver and Security Seeker.  🙂

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