The True Cost of Happiness
As a reporter, Stacey Tisdale has been connected to business and financial issues for more than fifteen years. She has posed questions related to finance on CBS Market Watch and all the CNN networks, including the Inside Africa program. Tisdale asks questions about money and personal finance that go a little deeper than the norm. With coauthor Paula Boyer Kennedy, a noted financial planning expert, the two uncover “The Real Story behind Managing Your Money” in The True Cost of Happiness. (John Wiley & Sons $24.95)
The heart of the book is based on the idea of “life planning.” The name alone calls up visions of so-called life coaches who guide you through decisions that might affect your happiness, well-being, or internal thought processes. While not totally off the mark, the term life planner in the context of the book is the same as the role of a financial planner. A financial planner might determine, through a series of questions, what your money goals are and work with you to achieve them. A life planner goes a little–more like a lot–further back to discover why you have the money thoughts and behaviors you’re living with. The planners then help you use this information to build a more secure and fulfilling life based on changing the money thoughts you established while you were growing up.
The book symbolically rolls out a therapist’s couch, gets us to lie in it, and makes us delve deep into the possible causes of how we think and act when it comes to money. In the process, Tisdale and Kennedy help you find some hidden answers. Did you and your mother hide purchases from your father when you were growing up? You may be acting out on those behaviors now; maybe not in the exact same way, but it could be affecting not only your finances but also your relationship with your spouse or partner.
Are your palms starting to sweat? Sometimes you just don’t want to go into the deepest recesses of your mind and carefully examine how you think, feel, and act with money. I understand. But keep in mind, this book is about money and how to manage it. Tisdale and Kennedy have put together a solid manual for helping us build wealth. In its pages you'll be introduced to new and not-so-new strategies to grow savings, manage investments, and secure your legacy using real-world services and vehicles. The book also explains how they all work. And they do work. They are the same strategies used by the very wealthy in this country, some who live and work surprisingly close to us.
In the opening of the book, Stacy walks you through a brief exercise based on a standard Life Planner line of questions that gives you thorough insight on what you really want financially and what would make you happy. You may feel refreshed after realizing what you really want. You may have already had these ideas, but just didn’t know how to reach your goals. Going back a little may bring a little discomfort; however, the benefits of a stronger attitude when it comes to money and your financial future allay the pain–if there even is any. In her book Tisdale shares her money “pains” as well.
The True Cost of Happiness is a powerful guide to monetary stability. Along with Kennedy’s expertise, Tisdale makes us aware of the causes of our beliefs about money and allows us to map out a financial plan that follows our idea of happiness.
Alex France is a contributing writer to The First-Time HomeBuyer magazine. He can be reached at alex.france@eotopublishing.com.