The Money Code by Joe John Duran, CFA
Does it seem like there’s never enough money to do everything you want?
Do you want to feel confident about the financial decisions you make?
Have you ever felt frustrated talking about money with the ones you love?
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 5 secrets to living his one best financial life.
Through this voyage, you’ll learn to:
- Prevent bad decisions about money.
- Identify your Money Mind—Fear, Happiness, and Commitment—and how it affects every financial decision you make.
- Use a simple checklist to improve your entire financial life.
- Clearly discuss decisions about money with the ones you love.
- Finally take control of your financial life.
Time to Get Honest About Money
The core of this book lies in the Money Code, which comprises 5 Money Secrets. The five secrets will provide insight into your decision making and help you evaluate how you think and feel about money and assess the way you make financial decisions. These simple, eternal truths have moved countless individuals and families away from the belief that finance is a strictly intellectual endeavor.
More importantly, these five uncompromising truths have put people just like you in the driver's seat of their financial lives, which has given them genuine, lasting control over their money.
The 5 Money Secrets are as follows:
1. Your life will be filled with tough choices. You Want It All.
2. Your entire life is determined by how you make decisions. Big Decisions Can Be Both Scary and Exhilarating.
3. Your biases will affect every decision you make. We Each Have Our Own Point of View.
4. You will be distracted by things that really don't matter. Your two worlds: External and Internal
5. You must have a good process to make good decisions. Making Good Decisions
The five secrets will provide insights into your decision making and help you evaluate how you think and feel about money and assess the way you make financial decisions.
These five uncompromising truths have put people just like you in the driver’s seat of their financial lives, which has given them genuine, lasting control over their money.
This book is an easy read with practical information. An interesting section of the book is about our Money Mind. The author writes, "Think of your Money Mind like a lens you'd find in eyeglasses." It influences your view about every big money decision you'll ever make.
There are only three money minds:
Fear (The Protector)
Happiness (The Pleasure Seeker)
Commitment (The Giver)
One of these money minds dominates each of us but we're all influenced by some aspects of each. When you have a major financial decision to make your dominant money mind takes over.
My money mind
My money mind is the giver. According to the author, I'm driven by a desire to take care of the people or causes I love. No mater my income, amount of savings or opportunities presented to me, I'll always give more to the people I care about most.
When I was in my late thirties I discovered I was an over giver. It's a good thing I made changes or I'd probably be broke today! I no longer sacrifice my own needs in order to fulfill the needs of others.
It's never too late to handle your money differently. If you want to improve any part of the finance area of your life this book will help you do so. If you have set financial goals for 2013 The Money Code will help you achieve them!
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.
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.
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