The Family CFO The Couple's Business Plan for Love and Money - Book Review
The concept of The Family CFO: The Couple's Business Plan for Love and Money is that couples can and should run the financial side of their homes like a business. Two good friends collaborated and wrote The Family CFO. One is a certified financial planner and a principal in a large financial planning firm, the other is a journalist whose articles have appeared in Forbes magazine, Wall Street Journal and other publications.
One of the first things The Family CFO authors do is to help couples get past the idea of not talking and sharing personal information about money. Allvine and Larson show couples that co-mingling, managing and talking about their money together is indeed necessary. They talked to real couples about their very real financial problems. As it says in the introduction -
After reading this book, you and your partner will know how to:
- Make effective financial decisions together without tension or arguments.
- Reduce the time it takes to run your finances.
- Use money as a tool to help you define your long-term vision and set goals, bringing you closer as partners and moving your relationship forward.
The charts, worksheets, resources and retirement information in The Family CFO is invaluable. If you know a couple getting married be sure to give them a copy of this book along with that bottle of good wine.
I grew up in a home where my mother never knew how much money my father made. She received a weekly allowance to run the house. When I was married the whole of it was about finance. We never had enough money and we were bogged down in debt. We pulled in opposite directions and never resolved anything. I wish The Family CFO: The Couple's Business Plan for Love and Money had been available then.
There is much information for singles also. There are great finance resources and web sites. Chapter 5, The Investment Manager, page 84 starts "Never invest in something you don't understand." Those who want to understand investments and investment jargon should definately read this book. See my interview with Mary Claire Allvine to your right.
The Family CFO: The Couple's Business Plan for Love and Money
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