We all deal with money, and the topic can be overwhelming. I had a chance to review a new book by Nathalie Spencer, which adds to the Build + Become series with an easy to comprehend text-and-image book on how to master your finances. By researching the science behind patterned approaches to money, Good Money works to change the way we think so we may finally feel more comfortable and knowledgeable about the topic of finances.
This book does a good job of covering the basics. It has a unique visual approach which makes it a lot easier to get through the more wordy books. It isn't as detailed as some financial guides, but it's great for anyone who needs to know the basics or wants a refresher on financial matters.
I had a chance to do an email interview to learn more.
Why did you decide to write this book?
This book needed to be written. So many people are struggling to make their money stretch further, and would find it tough to cover an unexpected expense. Good Money is about behavioural science and financial wellbeing, so it is all about our psychology when it comes to money. I’ve been passionate about behavioural science for several years now, working in banks to help improve people’s financial wellbeing. Years of research shows that there are ways that, once we understand our behaviour and decision-making psychology, we can design our lives to make it easier for ourselves to manage money better. And I wanted to so share that.
What sets it apart from other financial books?
Good Money is full of practical applications but is not prescriptive in the way some other books are. Some other books will tell you to put money in a particular account, which might not be right for everyone, might not be valid for long (terms and conditions could change overnight), and without scratching beneath the surface. Good Money uncovers the human psychology behind our financial wellbeing and lets you discover and reflect on your own ways with money – your choices, the decisions you make, how you relate to money - and helps reveal some surprising ways we spend or use our money.
The book is also set out into 20 short lessons, so it is easy to pick up and dip in and out of. Good Money also has sections for further learning, with suggestions for videos, podcasts, or questionnaires where you can learn more about the topics.
How can readers use this book to inspire positive financial changes?
The general message of the book is that once you understand these concepts from behavioural science and how they play out in your own life, you can make changes to support better money management. More specifically, there are tons of practical tips throughout the book; from how to lift your head out of the sand if you aren’t paying attention to your finances, to how to pay down debt quicker, to how to emotionally connect with your future-self to help improve your savings rates. These tips help people move beyond just getting by, and towards having financial resilience and securing a comfortable future.
Nathalie Spencer is a behavioral scientist at Commonwealth Bank of Australia. She explores financial decision making and how insights from behavioral science can be used to boost financial wellbeing. Prior to CBA, Nathalie worked in London at ING where she wrote regularly for eZonomics, and at the RSA, where she co-authored Wired for Imprudence: Behavioural Hurdles to Financial Capability, among other titles. She has a Bachelor of Commerce from McGill University and a Master of Science in Behavioural Economics from Maastricht University. Born and raised in Boston USA, Nathalie has lived briefly in Canada, Germany, the Netherlands, and was based in the UK for over ten years before moving to Australia where she now lives.
At BUILD+BECOME we believe in building knowledge that helps you navigate your world. Our books help you make sense of the changing world around you by taking you from concept to real-life application through 20 accessible lessons designed to make you think. Create your library of knowledge. Find out about other BUILD+BECOME titles at the BUILD+BECOME Amazon store, and follow us at buildbecome.com @buildbecome
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