The Real Cost of Living

November 29, 2010
Flustered by your finances? Afraid of making the wrong decision? The former host of CNBC's On the Money, and a personal finance expert, Ulrich wisely points out that our financial choices are often less about money and more about the intangibles that we want: happiness, security, domestic peace. The only way to make an educated decision is to have all the factors—conscious and unconscious, financial and psychological—laid out before us. Using callers to her show as examples, Ulrich presents the pros and cons—the "real costs"—of buying a home, marrying and divorcing, having a family, pursuing higher education, starting your own company, incurring credit card debt, investing, and indulging in the most common American vices: eating poorly or excessively, smoking, driving recklessly. In a firm but sympathetic voice, Ulrich takes the guesswork and fear out of major money decisions. A must-read for anyone eager to make sense of their financial lives.

January 1, 2011

Personal finance expert and former host of CNBC's On the Money, Ulrich (Generation Debt: Take Control of Your Money) arrived at her profession through a nontraditional route: she has a master's degree in psychology. So naturally, her approach to personal choices in life encompasses more than simply their economic implications. She recognizes that it's not just about money--even when it is. Ulrich examines the "real costs" of life events like marriage and divorce, family, college, bad habits, and being your own boss, in addition to the more traditional monetary arenas of credit cards, saving, investing, and home ownership. She demonstrates how understanding the emotional and psychological motivations driving financial decisions is as important as calculating the bottom line. VERDICT Since few of us are robotic enough to make choices based on purely rational motives, this book will help readers consider personal financial decisions from a more holistic vantage. It will ring true for those wanting to dig a little deeper when weighing their financial decisions.--Carol J. Elsen, Univ. of Wisconsin-Whitewater Lib.

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