The Inner World of Money: Taking Control of Your Financial Decisions and Behaviors by Marty Martin

The Inner World of Money Reviewed by Teri Davis

“Taking financial responsibility ain’t for sissies.”

How many of us have ever considered exploring a college-level economics class to discover the brilliance of those who have become financially successful in this every changing world? Have you ever felt intimidated by business gurus or have your eyes glaze over when anyone mentions the word economics?

This particular text, The Inner World of Money, deals with the daily decisions that directly affect our financial success, both now and in the future.

The use of psychology with financial choices allows an understanding how each of us spends money. This is helpful in discovering our own financial identity. This particular “scheme” is important for each of us individually to know what our personal tendencies are in order to better plan and to achieve your financial goals.

Dr. Martin also discusses the problems of buying on credit and using credit cards. With credit cards, he chooses to call them debt cards, which is not to be confused with debit cards. He strongly emphasizes the importance of seeing the charged amount as a “debt” rather than a payment which over time will eventually pay for the item but with considerable costs to the financial institution. He also shows the true cost of buying a home and the cost paid out depending on the interest amount or the variable amount. With the recent economic changes, this is an area that needs to be closely monitored and considered.

The author strongly promotes the value of a college education but a concern I have regards the student loans and the changing situation with our country’s present situation. For college grads who cannot find employment, the student loans for their college education can be an overwhelming burden. In the past, he shows that a college degree pays for itself over time, however, recently, especially in the area of law schools, many graduating lawyers are not getting jobs and even suing universities for misleading them, not to mention the amount owed in student loans.

One question posed as an example by the author was not completely answered. When asking if while having a routine colonoscopy and the gastroenterologist perforates your intestine, looking about whether your health care covers preventative care and what percentage is the patient’s obligation does not answer the question.

The Inner World of Money is a readable guide for your personal financial adviser. It combines the psychological aspect of our financial decisions with the solid advice of an accountant while also explaining the intricacies of investments in preparing for retirement and for maintaining your financial success in these tough economic times.

Dr. Marty Martin is employed at the College of Commerce at DePaul University and is a financial psychologist/adviser at Aequus Wealth Management Resources in Chicago, Illinois. He is a renowned speaker in the area of the psychology of personal finance.

For those of us who could benefit from a personal financial adviser, reading The Inner World of Money is a fiscally sound investment with your time and money.

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