Customer Reviews

The Family CFO: The Couple's Business Plan for Love and Money

5 star:		(4)
4 star:		(2)
3 star:		(0)
2 star:		(1)
1 star:		(0)

 

 

My husband and I fight about money a lot, and I've looked at a lot of these books. I've never seen one with such practical solutions as this, and I think it's really going to help us. The business metaphor is fun and really useful, too. And the authors have a great sense of humor.

This well-written book provides a clear and logical framework for couples to discuss finances and money management without so much of the emotion that often accompanies this subject. Probably every couple will find an example in the book to whom they can relate. And Allvine and Larson give us the tools (the spreadsheets) needed to put their advice into action. Those who want to explore a given topic, such as retirement planning or investing, will want to turn to additional sources, but everything you need to build a foundation of good financial planning and management is here. Perhaps the best feature of the book is the way it's written; the authors present their information in way that's easy for the financial lay person to understand without talking down to their readers. This would be a great gift for any couple just starting out, yet it's equally helpful for couples, such as my husband and me, who have been married several years and haven't really nailed money management. By the way, much of the information in the book would be helpful to anyone managing personal finances, single as well as married. Whether you want to get started on the right foot or undo poor money management habits, this book is a helpful guide.

The concept of THE FAMILY CFO: THE COUPLE'S BUSINESS PLAN FOR LOVE AND MONEY is that couples can and should run the financial side of their homes like a business. Two good friends collaborated and wrote THE FAMILY CFO. One is a certified financial planner and a principal in a large financial planning firm, the other is a journalist whose articles have appeared in Forbes magazine, Wall Street Journal and other publications.

One of the first things THE FAMILY CFO authors do is to help couples get past the idea of not talking and sharing personal information about money. Allvine and Larson show couples that co-mingling, managing and talking about their money together is indeed necessary. They talked to real couples about their very real financial problems. As it says in the introduction -

After reading this book, you and your partner will know how to:

**Make effective financial decisions together without tension or arguments.

**Reduce the time it takes to run your finances.

**Use money as a tool to help you define your long-term vision and set goals, bringing you closer as partners and moving your relationship forward.

The charts, worksheets, resources and retirement information in THE FAMILY CFO is invaluable. If you know a couple getting married be sure to give them a copy of this book along with that bottle of good wine.

I grew up in a home where my mother never knew how much money my father made. She received a weekly allowance to run the house. When I was married the whole of it was about finance. We never had enough money and we were bogged down in debt. We pulled in opposite directions and never resolved anything. I wish THE FAMILY CFO: THE COUPLE'S BUSINESS PLAN FOR LOVE AND MONEY had been available then.

There is much information for singles also. There are great finance resources and web sites. Chapter 5, The Investment Manager, page 84 starts "Never invest in something you don't understand." Those who want to understand investments and investment jargon should definately read this book.

Highly Recommended.

Vannie(~.~)
Work & Family @ BellaOnline.com
http://www.bellaonline.com/Site/workandfamily

I'm always a bit skeptical about "how-to" books, especially those about relationships and money. This one, however, is really helping us out. It has taken some of the stress out of talking about money. Instead of having these "discussions"(a.k.a arguments) only after I decide to buy a new guitar, we have them during our board meetings...a much more relaxed environment.
I just can't believe nobody thought of this concept before.

What a great vehicle for couples about to venture into a partnership! This guide should be used for pre-marital counseling to avoid the huge financial pitfalls which can disrupt a relationship. Even after 40 years of "partnership", some hints can be applied to a long standing relationship. Cleverly written too!!

The target audience for this book is probably the business person who is not currently in the best habits of discussing money at home. The CFO metaphor goes a little far for my taste. While cute, and a great place to start conversation, the authors stretch the metaphor too far. They use a lot of language about business finance that may not be familiar, or comfortable, for the average household. While its advice is sound, and the book's "heart" is in the right place, I found the language and metaphor a little difficult to digest. David Bach's "Smart Couples Finish Rich: 9 Steps to Creating a Rich Future for You and Your Partner" has a very similar approach, but I found used layman's terms to better effect to make a discussion of finance less scary for a household.

The CFO model is a little forced but it's a really good guide to helping couples find ways to talk about money on the emotional level. I bought this for my son who, even though he has been married 12 years, still struggles with how to handle discussions of the basics. I read the book from the library and thought it was good enough to buy a copy. I also liked the fact that it didn't get off into how you invest in the stock market which is another subject in itself. This book outlines the decisions that have to be made in daily life and sets up a good working model to deal with the emotional baggage each person in a relationship carries.