When financial advisor Spencer Sherman found himself crossing a police line to retrieve his work files from a burning office building, he realized he had money madness. He noticed it in his clients, too: those irrational feelings about money that make otherwise rational adults behave foolishly--buying high, selling low, overspending, lying to their spouses, equating their self-worth with their net worth. Money madness stresses us out, poisons our relationships, and keeps us from making as much money as we can. So Spencer invented the cure. Now, in The Cure for Money Madness, he gives us the tools that have helped thousands of people find greater peace of mind--and make more money.
Money madness, Spencer shows us, comes from unproductive messages that we received long ago. "It takes money to make money." "Paying rent is just throwing money down the drain." "Don't talk about money." When you challenge the messages, you can transform all aspects of your money life: earning, spending, saving, investing, giving, borrowing. More money will flow to you. Your relationships will improve. You'll enjoy your money more. And you'll be more generous, too.
In The Cure for Money Madness, you'll discover:
How much your money madness has been costing you How wealthy you truly are, by using the revolutionary Actual Net WorthTM statement How "small and boring" can help you outperform the top investors--without watching the market How to communicate about money in ways that create deeper connections with your spouse, parents, children, friends, and colleagues How to know what is truly enough
Money madness keeps us from living as richly as we might and enjoying the wealth we have. In these tough economic times, The Cure for Money Madness transforms fear and stress into prosperity and peace.
The Cure for Money Madness makes a golden promise: stress-free prosperity and a lifetime of financial peace.
Excerpts
Chapter 1...
Money Madness
What It Does and How It Works When my wife, Janine, and I first went to see the house in which we now live, the thing that most excited her was the backyard. "Plenty of space for a garden," she said breathlessly. I could see her pleasure as she scanned the sizable expanse of the yard, no doubt already planning vegetables here and perennials there.
The prospect filled me with dread. Where she saw tomatoes on the vine and beds of peonies, I saw bills, expenses, maintenance costs. If I even acknowledge her pleasure, I thought to myself, she'll start planning this garden; and if she does that, I'll have to pay for it. And if that happened, a lot of money would flow away from me.
"What do you think, Spencer?" she asked me excitedly. "Isn't it just perfect?"
I barely grunted, then looked away. The truth is that I was terrified of spending money on a garden. I was even more terrified of sharing my fear with Janine. It was not something I had ever talked to her about--even though she was and remains the person to whom I feel closest in all the world. So as I always and invariably did, I kept mum, and I simply let my fear simmer.
Irrational? This was sheer folly.
For one thing, we could well afford a garden. Of course, with a packet of seeds you can buy for pennies and a willingness to do a little manual labor, just about anyone can afford a garden. But in fact, our finances at the time would have enabled a professional garden design and help with the heavy-duty work of garden maintenance, so my fear certainly wasn't due to a lack of ready cash.
Nor would it have been rational to reject the garden for the sake of our long-term financial welfare. Quite the contrary. If this became our home and we one day decided to sell it, a garden in the backyard would significantly enhance its resale value.
In fact, by any measure I could possibly come up with, had I been thinking rationally, the garden was a plus. It would give pleasure to my wife--something any husband normally seeks to do. It might provide us with the fresh vegetables I love. If I had allowed myself to think about it, I might have realized that a garden can be a place of relaxation, a place that can refresh the spirit--in short, a "commodity" that might enrich my life.
I yield to few people when it comes to knowing about money. Trained in economics, with an advanced degree in business, certified as a financial planner, I advise some of the wealthiest and most astute investors in the United States. I make a lot of money for them. You don't have to take my word for it. Worth magazine has repeatedly named me to its list of the top 100 wealth advisors in the nation.
But standing in the backyard that day, tensing with resistance against the projected outflow of my cash, and seething with resentment at the person I loved most in the world, I was not behaving like a money expert. Rather, my behavior was being driven by money madness.
Fear of money going away from me was one part of the madness, and it was powerful enough to give the boot to all common sense, including financial judgment. Equally telling was my fear of sharing my feelings with my wife. Instead, as Janine and the real estate agent strolled the yard, talking about spring bulbs, summer herbs, and late-fall ornamental grasses, I allowed money madness to create a gulf across which my wife and I were simply not communicating--across which, if truth be told, we never had communicated.
The High Price of Money Madness Money madness is alive and well at home, in the office, on the factory floor, at play, in the bedroom. And it has consequences.
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Reviews
David Bach, author of Go Green, Live Rich and The Automatic Millionaire...
"We all want to do the right thing with our money--make it grow, spend it wisely, and use it to make the world a better place. But something is stopping us from doing that, and Spencer Sherman has a name for it: "money madness." Whether your madness is debt, overspending, taking too much risk, or ignoring your finances altogether, there's a cure to be found in this book."
Vicki Robin, coauthor of Your Money or Your Life...
"Part basic sanity, part good financial advice, The Cure for Money Madness shows how gaining perspective on your financesmakes your life richer--and maybe even makes you more money. Spencer Sherman shows you how to have the cake you really want--and savor it as you eat it too."
Keith Ferrazzi, author of Never Eat Alone...
"Spencer Sherman doesn't just show us how to make more money; he shows us how to be more generous, to have stronger and more loving relationships, and to recognize how prosperous and abundant we really are."
Robert G. Allen, author of The One Minute Millionaire and Nothing Down...
"An excellent book that teaches you how to have a 'healthy' respect for money."
Jack Kornfield, author of A Path with Heart and founder of Spirit Rock Meditation Center...
"In these difficult financial times, The Cure for Money Madness offers sanity, clarity, and truly helpful understanding to calm the heart and regain a wise perspective."
Howard Kaufold, Ph.D., Director, MBA Program for Executives, The Wharton School, University of Pennsylvania...
"Read this book to learn how to prioritize your household spending and spend less of your precious time worrying about how to invest your wealth. The benefits will improve both your financial and your personal balance sheets."
Mark Victor Hansen,...
"You would be crazy not to read this book, cure your money madness, and make more money in every area of your life."
About the Author
Spencer Sherman, MBA, has been named one of Worth magazine's top wealth advisors every year since 2005. He is the founder and CEO of Abacus Wealth Partners LLC. He leads workshops on curing money madness with bestselling author Byron Katie and with relationship expert Anne Watts. He lives in northern California with his wife and two children. His Web site is www.curemoneymadness.com.
