While it’s not a road map to riches, this comprehensive guide can help lead you to greater financial understanding and maybe...
A financial psychologist encourages consumers to take an introspective approach to achieving financial independence.
While Martin’s book is largely a thoughtful exploration of how people—Westerners in particular—relate to money, it also serves as a useful guide for managing one’s personal finances. In almost equal measures it introduces academic concepts regarding income and expenses as well as practical approaches toward spending and saving, so the book may be particularly useful for young adults who are newly or soon-to-be on their own, especially if they weren’t paying attention or didn’t get the best financial advice from their parents. With a doctorate in clinical psychology and a master’s degree in personal financial planning, Martin challenges readers to recognize and address their cognitive distortions regarding money and to use the power of positive self-talk to correct negative financial thoughts and behaviors. Such an approach puts this book in a different category than the stereotypical “how to make more money faster” primers. In fact, in contrast, Martin explores the seemingly foreign concept that there’s such a thing as “enough” money. Although the book doesn’t cover basic checkbook-balancing principals, the author offers several practical exercises designed to help readers understand the sometimes-unnoticed motives that explain their financial behaviors. In short chapters, Martin addresses the basic rationality required to ensure that daily shopping habits—i.e., If I wait a day, will I still want to buy it?—as well as more complex behaviors, like how to talk to kids about money, will be confined by realistic financial needs and desires. In addition to offering sound advice for discussing money matters with spouses, Martin explains how (or whether) certain personality types should invest in the stock market. Also valuable are his step-by-step suggestions for overcoming “inertia” regarding important financial decisions such as asking for a raise or saving for retirement.
While it’s not a road map to riches, this comprehensive guide can help lead you to greater financial understanding and maybe even achievement, no matter your income level.Pub Date: April 25, 2012
ISBN: 978-0313398247
Page Count: 212
Publisher: N/A
Review Posted Online: Aug. 15, 2012
Kirkus Reviews Issue: Sept. 15, 2012
Review Program: Kirkus Indie
Cogent, well-timed ideas for meeting today’s biggest challenges.
Helping liberals get out of their own way.
Klein, a New York Times columnist, and Thompson, an Atlantic staffer, lean to the left, but they aren’t interrogating the usual suspects. Aware that many conservatives have no interest in their opinions, the authors target their own side’s “pathologies.” Why do red states greenlight the kind of renewable energy projects that often languish in blue states? Why does liberal California have the nation’s most severe homelessness and housing affordability crises? One big reason: Liberal leadership has ensnared itself in a web of well-intentioned yet often onerous “goals, standards, and rules.” This “procedural kludge,” partially shaped by lawyers who pioneered a “democracy by lawsuit” strategy in the 1960s, threatens to stymie key breakthroughs. Consider the anti-pollution laws passed after World War II. In the decades since, homeowners’ groups in liberal locales have cited such statutes in lawsuits meant to stop new affordable housing. Today, these laws “block the clean energy projects” required to tackle climate change. Nuclear energy is “inarguably safer” than the fossil fuel variety, but because Washington doesn’t always “properly weigh risk,” it almost never builds new reactors. Meanwhile, technologies that may cure disease or slash the carbon footprint of cement production benefit from government support, but too often the grant process “rewards caution and punishes outsider thinking.” The authors call this style of governing “everything-bagel liberalism,” so named because of its many government mandates. Instead, they envision “a politics of abundance” that would remake travel, work, and health. This won’t happen without “changing the processes that make building and inventing so hard.” It’s time, then, to scrutinize everything from municipal zoning regulations to the paperwork requirements for scientists getting federal funding. The authors’ debut as a duo is very smart and eminently useful.
Cogent, well-timed ideas for meeting today’s biggest challenges.Pub Date: March 18, 2025
ISBN: 9781668023488
Page Count: 320
Publisher: Avid Reader Press
Review Posted Online: Jan. 16, 2025
Kirkus Reviews Issue: Feb. 15, 2025
BOOK REVIEW
PERSPECTIVES
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...
A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.
The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.Pub Date: Nov. 1, 2011
ISBN: 978-0-374-27563-1
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
BOOK REVIEW
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