Are You Normal about Money? Do You Behave Like Everyone Else?

Ever since I had been trying to change the way I deal with money I have gravitated to books that really get me thinking about how I deal with it. This book is a result of surveys done asking people how they deal with money. Some of the questions are humors and some are down right scary after you see how people responded. You have the basics like "Can money buy happiness?" to the ominous "What would you do with money given to you as a gift that had been illicitly gained through stealing or inflicting pain and suffering?". Sadly to the later question 4 out of 10 people would keep it!!! OH MY! Anyway if you are curious how people view money this IS the book to get. The great thing is you don't have to read it all at once. I enjoy picking it up from time to time. The chapters are organized by themes so if you are interested in a particular topic or if you are trying to find one you liked but forgot to highlight it it really isn't that hard to find. My only complaint is that I would have loved to have had more information about how big the sample of people were whom were questioned but that is only a minor complaint.

For the past 13 years, my work as a financial consultant has given me the good fortune to work with so many inspired and curious individual investors and their families. I'm constantly amazed by what people admit they've done with their important money decisions. In this book, people will find comfort in the fact that they are not alone in the confusing world of personal finance. I read this book with a huge grin on my face as I was reminded of countless interactions with clients at one of the nations busiest financial service firms. At times however, I couldn't help focusing, not on the question posed by the title, "Are you normal about money?", but by the survey's findings about people who are considered in the minority about their decisions. What do the few know that the masses do not? For example, the writer posed the question to those surveyed: "Do you plan on working after retirement?" Sixty-four percent say "yes". Work after retirement? Is that right? Well, I guess that is a good thing, because according to the book, only 23% have individual retirement accounts. And of those who do have them, seven times as many favor regular IRAs over Roth IRA's. With the current projections on the Social Security system, it would certainly pay to be ab-normal here, and in other instances throughout the book. Most experts and the overwhelming number of my clients who have significant IRA's, Roth IRA's especially, will admit that they feel much better prepared than the have-not's in this area. Unfortunately, a majority of the US population that is without retirement savings. I guess it is no wonder that 21% of Americans, according to this book, would swallow a worm for $200. Would you?

Are You Normal About Money? by Bernice Kanner is an amusing quiz book drawn from bloomberg.com surveys, and Madison Avenue industry sources, about the general population's views (on average) toward a variety of money matters. Presenting a host of ethical and philosophical money-related questions alongside statistics reflecting how people have answered, from "Would you have sex for money?" (60% no, 6.7% yes, 20.4% it depends on who with) to "Ever contribute to political campaigns?" (two-thirds of us never do), Are You Normal About Money? is a simply fascinating read for its quintessential insights about average human nature when confronting money and money management issues.

Hurray! I'm normal! Just when I thought some of my spending habits and monetary practices were unique to me alone, I find myself right up there with the other 43%, or 72%, or 80% of the country. Bernice Kanner has written a fascinating, funny, and may I add highly informative guide to how people spend and consider their money. It is fun to read, and I'll probably give it as a gift to those who appreciate the facts behind the myths about money -starting with my daughter who, at 13, is already lobbying for her own charge account.