What do you think?
Rate this book
Financial Recovery: Developing a Healthy Relationship with Money
After healing her own unhealthy relationship with money, and transforming her financial disaster into prosperity and security, Karen McCall created a recovery program she has now used for more than twenty years to help individuals, couples, and businesses large and small. In the midst of her money troubles, she saw a need for something other than financial planners, accountants, and credit counselors. These experts could tell her what she should be doing differently, but she needed someone to help her understand the underlying causes of chronic, self-defeating overspending and credit card debt, underearning, and low or no savings. To save herself, she created practical, holistic tools that address these sources of pain and shame. McCall’s program supports people as they uncover their deep-seated attitudes about money; provides simple, step-by-step tools for healing areas of physical, emotional, and spiritual deprivation; and teaches skills and strategies for experiencing lasting personal and financial fulfillment even in the midst of economic challenges and reversals.
280 pages, Kindle Edition
First published February 1, 2011
81 people are currently reading
405 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 21 of 21 reviews
August 14, 2012
The emotional-finance aspect of this book had way too much fluff and filler; I had to skim and skip a lot of it. (And, honestly? No, I don't actually hide my "botox treatments" from my husband. No, I wouldn't rather talk about my "plastic surgery scars" than money. I think maybe that was for some other reader. :D)
The author's actual practical tools, while not exactly revolutionary / original, were decent though: tracking spending, making a spending plan (I liked seeing all her suggested sub-categories & will use them), recording, saving your way out of debt (stabilizing debt, creating a periodic savings account, snowballing debt, creating a safety net savings, creating a long-term investment savings). I think one thing that she does right (that maybe people like Ramsey don't address) is the need to not feel deprived while getting finances optimal.
Quote I liked: "A need, when fulfilled, sustains us. A want, when fulfilled, entertains us."
The author's actual practical tools, while not exactly revolutionary / original, were decent though: tracking spending, making a spending plan (I liked seeing all her suggested sub-categories & will use them), recording, saving your way out of debt (stabilizing debt, creating a periodic savings account, snowballing debt, creating a safety net savings, creating a long-term investment savings). I think one thing that she does right (that maybe people like Ramsey don't address) is the need to not feel deprived while getting finances optimal.
Quote I liked: "A need, when fulfilled, sustains us. A want, when fulfilled, entertains us."
May 18, 2011
I'm not the kind of person who typpically reads books about money. In fact, the mere thought of doing so would usually leave me cold. Like lots of people, I always thought I was just disinterested in money matters and that managing money was something I'd never be good at.
But this is a money book for "the rest of us". McCall, a financial counselor with decades of client successes under her belt, has created a book that is part memoir and part how-to, with healthy portions of inspiration and compassion. Forget the shame, the guilt, the judgement, the why-can't-I- just-do-this self-recrimination. This book goes beneath the surface of money management, right to the emotional, psychological, and spiritual issues that often spawn money problems. This book is about more than money; it's about understanding the TRUE roots of money troubles in your life whether you are barely eking by, or your financial success is not bringing the satisfaction that you always thought it should. The stories and strategies in this book are about healing your relationship with money so that you can build a financial life that is stable and fulfilling on every level. Timely. Informative. Inspriational.
But this is a money book for "the rest of us". McCall, a financial counselor with decades of client successes under her belt, has created a book that is part memoir and part how-to, with healthy portions of inspiration and compassion. Forget the shame, the guilt, the judgement, the why-can't-I- just-do-this self-recrimination. This book goes beneath the surface of money management, right to the emotional, psychological, and spiritual issues that often spawn money problems. This book is about more than money; it's about understanding the TRUE roots of money troubles in your life whether you are barely eking by, or your financial success is not bringing the satisfaction that you always thought it should. The stories and strategies in this book are about healing your relationship with money so that you can build a financial life that is stable and fulfilling on every level. Timely. Informative. Inspriational.
April 15, 2012
Developing a healthy relationship with money. What would that look like? Can you even imagine living within your means and not feeling deprived? What would it feel like to do work you love and that pays the bills?
Financial equilibrium is a possibility for anyone and everyone. It’s not about tightening up your belt or doing without. It’s not even about getting a second job or quitting the work you love to find something more financially viable. Instead, it’s about understanding where your money goes each month and if you are making the best use of your resources.
Financial Recovery points out that most of us don’t really understand the difference between wants and needs. Often we buy things not because we need that item but because we have an unvoiced and unsatisfied need. Identify that need or that hidden desire and life suddenly becomes much easier and more fulfilling. It’s like clarity, focusing on what’s important rather than being pulled in a hundred different directions. Knowing what you want and working on that rather than madly filling emotional holes with stuff.
Financial equilibrium is a possibility for anyone and everyone. It’s not about tightening up your belt or doing without. It’s not even about getting a second job or quitting the work you love to find something more financially viable. Instead, it’s about understanding where your money goes each month and if you are making the best use of your resources.
Financial Recovery points out that most of us don’t really understand the difference between wants and needs. Often we buy things not because we need that item but because we have an unvoiced and unsatisfied need. Identify that need or that hidden desire and life suddenly becomes much easier and more fulfilling. It’s like clarity, focusing on what’s important rather than being pulled in a hundred different directions. Knowing what you want and working on that rather than madly filling emotional holes with stuff.
May 10, 2013
This book has a quiet brilliance about it that is nurturing, structurally sound and immensely powerful. This is an extremely good book on cultivating your relationship with money. As one knows from my reading history, I love financial books and anything dealing with finances. Upon seeing this book and author referenced on Barbara Stanny's website (author of "Secrets of Six Figure Women" and "Overcoming Underearning", I decided to read it. I'm very glad I did.
McCall's book didn't teach me anything new, per se. I already have in place a majority of techniques she teaches for sound money management and spending tracking. However, what it enriched in me is my deeper connection toward understanding my needs vs. wants and understand - yet again - that "I deserve a life in which my needs are met and my future is secure" (Chapter 8). Other topics of this book include examining your spending, planning your finances a month in advance, and looking at your job and salary in a new light and more.
"Financial Recovery" is a great book that I've read, enjoyed and highly recommend.
McCall's book didn't teach me anything new, per se. I already have in place a majority of techniques she teaches for sound money management and spending tracking. However, what it enriched in me is my deeper connection toward understanding my needs vs. wants and understand - yet again - that "I deserve a life in which my needs are met and my future is secure" (Chapter 8). Other topics of this book include examining your spending, planning your finances a month in advance, and looking at your job and salary in a new light and more.
"Financial Recovery" is a great book that I've read, enjoyed and highly recommend.
September 7, 2014
This book should be read by every person who has ever had problems with money. It helps one explore the reasons behind money issues and helps create a better relationship with one's spending and saving. When I first started reading this, I reached out to the author and had the privilege of speaking with her on the phone. Ms. McCall is gracious and wise. This way of life obviously comes from a framework of recovery and helped me understand how my interaction with money stems from how I see myself in the world. I will read this again and again and recommend it to everyone I know.
July 13, 2014
An absolute must-read. McCall's systematic method of changing one's relationship with money is comprehensive, elegant, and gently inviting. It challenges readers to deeply examine their history and their base assumptions about money in their life and makes a superb argument for how these assumptions can wreak havoc when met with destructive and short-sighted behavior. The entire book is resonant and, again, supportive rather than condemning. I heartily recommend this to anyone who spends and saves money.
April 20, 2016
I found this book useful - I answered the questions to tackle my relationship with money and followed some of the advice, including creating a spending plan. Within months, I've started saving more than I had in the previous years. My anxiety about handling money has lessen significantly. I would definitely recommend this book to anyone looking for long term solutions to improve their financial situation.
August 8, 2013
A very informative book about some of the things you could do to create and maintain a good relationship with your money and form a stable financial ground. As adhesive loving the American Dream (loving above my means and with credit card debt) I found this very useful.
Some chapters were a little repetitive but overall definitely a great read.
Some chapters were a little repetitive but overall definitely a great read.
June 29, 2011
A perfect book for anyone and everyone. We all have our own issues with money and this book will help you name them, and tame them.
August 22, 2011
Well worth the time and effort.
December 28, 2014
Read while I was a first-year college student. Helped me with basic personal finance ideas. One tool that I still use today is checking my accounts regularly.
November 26, 2012
A different approach to finances for those with numbers aversion.
April 6, 2022
So apparently I have ADHD and I have a shopping/deal-hunting addiction (also no thanks to bookoutlet.com LOL). Thankfully I haven't gotten into any bad financial situations, but I am also not saving as much as I want to for future goals.
I was looking for a book specifically about ADHD/money handling, but someone recommended this book instead.
It has a lot of practical advice for those who want to have a better relationship with money, whatever your root cause may be. I suppose only time will tell if this works for me, but I feel empowered to tackle my problems now.
I was looking for a book specifically about ADHD/money handling, but someone recommended this book instead.
It has a lot of practical advice for those who want to have a better relationship with money, whatever your root cause may be. I suppose only time will tell if this works for me, but I feel empowered to tackle my problems now.
March 9, 2021
This book was published in 2010, referring to the 2008 financial meltdown, but many of its principles are unfortunately still relevant in this continuing pandemic reality. The book assumes you have some money, but you don't manage it well. I don't think it would be helpful to someone with NO money. It is always good to review your financial plans, especially during a transition time. I am currently looking for a job, after being self-employed for 26 years.
June 10, 2018
Very useful book. I've mostly figured these things out already, however, I'm excited to try the monthly spending plans. I definitely like her take on meeting needs without creating a sense of deprivation!
December 8, 2020
A very helpful book, with some insights and concepts I hadn't heard before. I have hope that I can get my finances under control and remain so now.
August 21, 2018
Although the anecdotal style may appeal to some, on this particular topic Dave Ramsey is way better (and more practical).
January 17, 2012
This books deals with not only the practical side of financial recovery, but also the emotional factors as well. The author's writing style is engaging and motivating.
This entire review has been hidden because of spoilers.
January 30, 2015
I think the book has some valued insight, but for an individual looking for this kind of help the really need to accept that they have a problem.
April 10, 2017
This book was a game changer for me. For numerous personal reasons, I have emotional issues when it comes to money. I had been working on improving my understanding of and grasp on my finances when I realized that tackling the mental component of my relationship with money needed to be addressed first. I learned that financial therapy is a growing industry that helps people work on these kinds of issues, and this book was one of the most highly rated in this area.
It may sound trite, but this book has changed my life. It has helped me honestly examine my relationship to money, my habits around finance, and start on the path to a healthy financial life and financial security. Karen compassionately walks you through the steps to financial freedom in doable chunks. Not only does her advice make complete logical sense in terms of basic finance, but she is sensitive to the stress and emotional barriers people have with money and provides a lot of comforting words and encouragement that made it easier to take a deep breath and press on when my fight-or-flight response wanted to take over and escape.
If you've tried to improve your financial picture and implementing best practices haven't helped, I highly recommend checking out this book. It might be the emotional salve you need to conquer this area of your life.
It may sound trite, but this book has changed my life. It has helped me honestly examine my relationship to money, my habits around finance, and start on the path to a healthy financial life and financial security. Karen compassionately walks you through the steps to financial freedom in doable chunks. Not only does her advice make complete logical sense in terms of basic finance, but she is sensitive to the stress and emotional barriers people have with money and provides a lot of comforting words and encouragement that made it easier to take a deep breath and press on when my fight-or-flight response wanted to take over and escape.
If you've tried to improve your financial picture and implementing best practices haven't helped, I highly recommend checking out this book. It might be the emotional salve you need to conquer this area of your life.
January 3, 2018
I think this book is really helpful for getting at some of the underlying reasons behind financial behaviors. I am not using McCall's plan because I found a software option (YNAB) that works for my specific needs. The principles of the software are well aligned with McCall's ideas.
Displaying 1 - 21 of 21 reviews