Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
The Cure for Money Madness: Break Your Bad Money Habits, Live Without Financial Stress--and Make More Money! Hardcover – February 3, 2009
See the Best Books of 2018 So Far
Looking for something great to read? Browse our editors' picks for the best books of the year so far in fiction, nonfiction, mysteries, children's books, and much more.
Frequently bought together
Customers who viewed this item also viewed
From Publishers Weekly
Sherman, founder and CEO of a small financial firm, offers sage and soothing advice for taking the emotional factor out of making money decisions. Money madness is the author's diagnosis for the unhealthy behaviors that stem from seeing how money was handled in childhood households and linger long into adulthood: e.g., the inability to talk about money, compulsive spending and debt, the conviction that no amount of money can keep one secure enough, ruthless self-measurement in terms of wealth. Sherman describes how these neuroses can impair income and undermine net worth by adversely influencing the financial decisions people make and keeping them in a state of anxiety, avoidance and fear. A series of scripts and charts offer strategies for tackling such common issues as credit card debt and portfolio diversification. Less a treasure trove of new information, this book provides a sensible framework to understand—and conquer—the emotions and habits that hold individuals back from financial freedom and security. (Feb.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Sherman, wealth advisor and entrepreneur, offers his thesis that emotions learned in childhood—“money messages”—become “money madness” when they lead to self-destructive, irrational financial actions. Money madness behaviors include muteness as spouses are unable to discuss money; individuals spending more than they earn even when their salary increases; and individuals using money to manipulate others. Tips offered to tame money madness include keeping your financial intentions reasonable (do not set yourself up to fail); maintaining a money diary; and, at least quarterly, reviewing the numbers of your cash-flow statement and net-worth statement. The author also offers his Rainbow Portfolio for investing, which has three simple principles: diversify into a high number of asset classes, leave your portfolio alone when its value changes (except when there are large market swings), and rebalance the portfolio annually. All will not agree with Sherman, but he presents thought-provoking ideas to challenge a wide range of library patrons. --Mary Whaley
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
Sherman's style, sense of humor, and concrete knowledge of the world of finance make this book a "must have" if your serious about breaking old money habits.
Also, the section on money and your intimacy was fantastic! I have read dozens of money books and this is the first one that has covered the relationship of money and intimacy. I personally messed up a few relationships BC of me not realizing this part of my world. I am now a changed man and much better because of having learned this new wisdom. That chapter could be its own book that I would title: "Talk about money and have more and better sex." Ha. You get the point.
Don't skip over this one.
Spencer puts this into perspective by showing how the money madness of both seller and buyer keep them from addressing what is really important in life: living with a sense of ease, living connected to your loved ones, and living so as to contribute to the world. Spencer's goal is to address the ways in which our hidden attitudes toward money keeps us from this deeper satisfaction.
Beginning with an exploration of your destructive patterns, Spencer presents ways they can be healed, particularly in our relationships to others. He suggests how one can save and invest without being driven by emotion (and he does this in very useful detail---something one can act upon at once). He touches on how money madness affects people at work, and how to address it to make one's self more effective. He takes on the myths about house buying (which given the housing bubble burst, makes his advice all the more relevant). He talks about philanthropy, offering ways to do it more awarely.
At a time of money fear, Spencer offers a way for people to see where they truly stand in it all, and how to take action based on a clearer understanding. The subject matter of this book is greatly needed and Spencer has done an excellent job of helping people find their way through a turmoil which may, in fact, be the result of our collective money madness. This is an important book to read.
Charlie Fisher, Associate Professor Emeritus, Brandeis University
There's an underlying relationship we all have with money that, regardless of outside circumstances, creates our ease or dis-ease around it.
This book helped me recognize, name, work with this underlying weightiness and learn how to release it.
Wish Spencer had written it years ago but it comes now, just in time.
There are plenty of advisors out there who can tell you how to handle your finances. Spencer Sherman is unlike any of them. What Spencer has realized is that you can tell people to act rationally about their finances until you are blue in the face - they won't be able to do it until they uncover, examine and get free of their hidden money madness.
What's money madness? Money madness consists of the money messages and beliefs that we all have - that we carry with us from childhood or life experience - that prevent us from acting rationally around money.
Spencer's book is engaging, practical and funny - he helps us by digging in his own financial psyche. Don't miss this book because you've read a bunch of financial "how-to's."
This book will help you actually execute a rational plan.