The Value of Money
Susan McCarthy
Reviewed by Samantha Hunter
My review is clearly from the layperson’s perspective on this one, but I solidly fall into the audience for this book, which provides financial advice for those of us in the trenches. What drew me to the book was the concept of aligning money matters with emotions and spirituality, a topic I find very interesting. I found nuggets of insight and advice along with some interesting stories about how money is always more than money, but while THE VALUE OF MONEY discusses some interesting scenarios, it ultimately didn’t work for me because of its glossing treatment of deeper topics and lack of interactive materials.
The book’s basic thesis is that while money itself is neutral, we imbue money with power and meaning, and the more connected we are with the emotions and motivations that we project on money, the better off we’ll be in deciding how to use it. Okay. I buy that. Some neat ideas were that managing money is actually a “forgiving” thing — we all make mistakes we can rebound from. Also, that money has karma. (While this is not a new idea, it’s worth repeating that you get from the world what you put into it.)
McCarthy says that “One of the goals of THE VALUE OF MONEY is to prompt you to observe yourself in relation to your money, to think about your stories and what they mean, and to uncover the hidden motivations that govern your financial life.” While the book does provide anecdotes that prompt people to think of their own connections to money, the bigger problem is that the book never goes farther than asking some questions (“Have you ever been gleeful at another person’s financial misfortune? Do you see yourself using your new money to hurt someone?”). I expected some interactive components, checklists, quizzes — something — that would allow a reader to actually use the book, but there weren’t any. One huge problem is that a person who isn’t in touch with their emotional issues in the first place isn’t likely to find awareness through a few prodding questions or personal anecdotes.
The main problem for me, however, was with the organization of the book. McCarthy starts by dividing people into Seven Basic Types of Money Relationships, and then has a chapter on the spirituality of money. In a discussion of the spirituality of money, I would have expected far deeper and broader discussions than what was provided (for instance, what about tithing and other giving? These are actually more complex issues than “what you put in, you get out”). I kept thinking McCarthy’s expertise with money would have greatly benefitted from deeper psychological/philosophical insight. McCarthy is clearly an experienced financial advisor, but the rest boils down to pop psychology.
McCarthy goes on to organize the larger part of the book according to major life transitions and turning points, saying “It is around these major turning points in our lives that Part II of THE VALUE OF MONEY is organized. My goal in examining life events from the point of view of this money/emotion is to offer a sort of roadmap through the often-difficult sequence of financial decisions that each situation requires.” The rationale, later stated, is that major life transitions (marriage, death of a loved one, or divorce, etc) are often when financial crises arise, creating the often confusing intersection of emotions and money. This is interesting, however, these are only a handful of major events to which a reader may or may not relate, and the material from earlier in the book, the application of the “types” only figures in here very haphazardly, which I found surprising. How would each of the types function in the face of common life problems? Pitfalls? Solutions? Honestly, the “types” list comes across as a sales hook which is never really elaborated in a meaningful way.
THE VALUE OF MONEY addresses a very deep, philosophical idea with a glance rather than an in-depth look, offering anecdotes and advice, but never really digging in. For readers who have never considered the relationships between spirituality/emotions/money, the book will perhaps trigger some insights, but for more informed or sophisticated readers, I’d have to say it doesn’t really offer much.
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About the Reviewer:
Samantha Hunter lives in Syracuse, New York with her handsome devil of a husband and their numerous pets. She's been writing for Harlequin Blaze since 2004, when she sold her first book, VIRTUALLY PERFECT, and in 2008 will see her tenth book arrive on the shelf. Her 2007 novel, UNTOUCHED, is a finalist for the prestigious 2008 RITA awards.
Sam participates in and manages the blog Love Is An Exploding Cigar (www.loveisanexplodingcigar.com) and is an avid reader, quilter, animal lover, and television addict.
She invites you to visit her online at www.samanthahunter.com
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