"A Psychological Approach to Money"

It is refreshing to read a book pertaining to money that takes a psychological approach, devoid of confusing terminology and financial jargon.

Psychoanalyst Allison Acken has written a very nifty tome, entitled ITS ONLY MONEY, addressed to women, who unfortunately have an aversion or perhaps a phobia in entering into a conversation pertaining to money.

As quoted in the introduction to the book, "Charles Dickens said it best in David Copperfield: having a few pennies to spare after expenses, "result happiness" but being a few pennies short, "result misery." How true! I used to quote Mark Twain, when someone complained that money was the root of all evil, "no" I would say, "it is the lack of money that is the root of all evil."

It is not uncommon to see many women and even men resort to rationalizations in defending their profound dislike of the topic. In fact, many may even consider the mere entering into a money dialogue as vulgar and boorish. On the other hand many women admit to having little knowledge about money management and rely solely on their male companions or husbands to take on the full responsibility of paying the bills, investing and saving for a rainy day. These women may not even have a clue as to how their partners are managing both of their earnings. Acken most aptly describes many of these women as "being stranded on Lake Money". They are sitting in the middle of the lake in a rowboat, perhaps with one oar, or scary as it may seem, no oars. Others may be compared to a boat with a slow leak. Finally there are those in the unenviable position of being compared to a sinking boat.

The author's conversational style of writing succeeds in positioning women in a comfort zone where they can overcome their reluctance to discuss money. Women are encouraged to open up and to seek out other women in order to exchange ideas. This is comparable to the sounding boards we use when we want to try out new ideas.

They are also counselled to look for answers and tips from those in the know without being frightened or feeling inadequate when posing questions. Women are reminded there are never dumb questions; there are only dumb answers. Once you acknowledge that the money phobia exists it is essential to learn as much as possible about the subject matter. In other words, don't close your eyes and ears when the topic is raised. After all, as the author repeats throughout the book, "it's only money."

If any of you readers recognize that you may have the money phobia, Allison Acken's discourse will prove invaluable in aiding you to conquer your fears.

Reviewed by Norman Goldman
Posted August 22, 2002