I recently had the opportunity to read “THE MONEY CODE: Improve Your Entire Financial Life Right Now” by Joe John Duran, CFA. This book was a little unorthodox because I was definitely expecting more of the norm in terms of finance books, but instead I ended up reading the self-described “anti-financial advising, financial advising book”.
Here is what the publisher has to say about it:
Does it seem as if there’s never enough money to do everything you want?
Do you struggle with feeling genuine security about your financial life?
Do you feel frustrated talking about money with your loved ones?You’re not alone. Unfortunately, most of us were never taught how to think and communicate about money. The Money Code is a modern tale of one person’s journey to uncover the five secrets to living his one best financial life. Through his voyage, you’ll learn how to:
- Prevent bad decisions about money
- Identify your Money Mind–Fear, Happiness, or Commitment–and how it affects every financial decision you make
- Use a custom checklist to improve your entire financial life
- Clearly discuss decisions about money with the ones you love
- Finally take complete control of your financial life
As the above section states, it really is a TALE – and don’t let that turn you off, for those of you who don’t like stories, this is no child’s fairy tale! The first chapter is the voice of the author explaining what the money code is and that he will be going into detail about utilizing this system through the tale of an everyman named Jack.
I have to admit, I was intrigued after reading the first chapter because I had no idea what I was in for. The following chapters takes you through Jack’s journey of self-discovery as he learns about his relationship with money, confronts the effects of this relationship, and discovers critical steps to make future financial decisions.
The strength of the narrative is that the reader is taking the journey with Jack, learning lessons with him, taking the tests, and forming conclusions concerning his/her own life as they consider the information – they are not merely observing.
I enjoyed this way of ingesting information. I found it engaging, and more palatable than simply being told what to do in a series of steps.
The author makes no secret of his goal in this book. He is not merely trying to give people a list of dos and don’ts so they can handle their money better; he wants them to confront their emotional response to money and financial issues, believing the emotional side is oft ignored. As a result, the information in the book is a bit more philosophical in its approach although pragmatic in regards to the application of its lessons.
The book is a short read, and if you give it a chance, you’ll see that the author’s point is not to revolutionize your life through a bunch of resources and methods. He is simply trying to change the readers approach towards existing behaviors, and I think that is a good place for many people to start.
Is It Worth It?
Absolutely! The next financial decision we need to make will have me referencing the points made in this book. I realized that most of my financial decisions are made out of fear (my money mind according to the book). I will definitely step back and see if fear is overriding my ability to make a more objective decision. I also thought the book gave a really good, strategic checklist to ensure you are making the best thought out decision you can. I will be using it until I can allow my pattern of thinking to be as fluent.
About the author:
Joe John Duran is CEO and founding partner of United Capital, which consistently ranks as one of the nation’s fastest growing wealth counseling firms. He’s fueled by his passion to change the industry and improve lives by empowering people to make better, more informed financial decisions. From CNBC to CNN, Joe frequently provides commentary on TV. He has been profiled in numerous publications, including the New York Times and Smart Money.
The Money Code is Joe’s third book. His two previous titles are Start It, Sell It, and Make A Mint (Wiley and Sons, 2004) and The First Time Investor’s Workbook (McGraw Hill, 2001). Joe holds the Chartered Financial Analyst (CFA) designation and earned MBA degrees from Columbia University and UC Berkeley. He lives in Laguna Beach, California, with his wife, Jennifer, and their three precious daughters.
Learn More About The Money Code:
Visit the official website
Like The Money Code on Facebook
Follow on Twitter
Giveaway:
So hopefully you’re ready to run out and buy a copy of this book. Fortunately, we are giving away a copy and also a $25 Visa gift card to one winner! You can find the giveaway details below…
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I didn’t like the narrative. I guess if I want to read a story, I’ll pick up a novel. I enjoyed the Money Mind section though. It is really useful and I am of the Fear Money Mind as well. Great book.
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