Book Review: “It’s Not About the Money” by Brent Kessel
Written by: Dr. Kara Monroe , AFC® Candidate
Several years ago, It’s Not About the Money by Brent Kessel was my first real foray into personal finance books. It’s a book that rarely gets the attention it deserves in the personal finance space.
When I initially read it, I picked it up half-expecting another “do this, not that” guide to budgeting. What I found was a book that asked a better question: why do we keep doing what we know isn’t working?
Kessel’s answer to the question is our Core Story. Our Core Story is the deep, often unconscious beliefs about money we formed in childhood and continue to act out in adulthood. He draws on Buddhist philosophy, Jungian archetypes, and his own career straddling financial planning and yoga practice (he is a co-founder of Abacus Wealth Partners and a dedicated yoga practitioner). The result is a framework that’s equal parts practical and contemplative.
The book’s centerpiece is eight financial archetypes:
- Guardian (driven by anxiety and vigilance)
- Pleasure Seeker (money exists for enjoyment)
- Idealist (deeply ambivalent or hostile toward money)
- Saver (security and accumulation above all)
- Star (spending for status and recognition)
- Innocent (seeks avoidance and helplessness)
- Caretaker (everyone else’s needs come first)
- Empire Builder (visionary and achievement-driven)
Each archetype has characteristic gifts and characteristic pitfalls. Kessel is careful to note that we’re all combinations. The goal isn’t to eliminate your dominant archetypes but to achieve balance across all eight. This makes the book a natural companion to the more recent Taming Your Money Monster by Doug Lynam. Lynam maps Enneagram personality types to money patterns. Both books start from the same premise: you can’t budge your finances until you understand your psychology. They make for an excellent pair. Read together, they make a compelling case that inner work is not optional if you want lasting financial change. They also provide a wide array of questions and exercises that can be discussed with clients.
The exercises in It’s Not About the Money are what makes the book stand apart from others. Kessel embeds reflective practices throughout each chapter. The exercises ensure that you take the time to not treat money management as a purely technical skill. Most financial talking heads offer “just follow these steps” advice that ignores our backstory, our emotional relationship with money, and what we’re trying to live. Kessel argues that until you understand your own Core Story, your outer financial life will simply mirror your unconscious expectations. What’s brilliant about them is their flexibility. You can read this book quickly and let the exercises simmer, or read slowly and really dig in. You can then return to the exercises years later to measure your growth. That kind of re-readability is rare in any book, let alone a personal finance book.
Dr. Kara Monroe is a higher education and business strategist with a track record of leading transformational change. Her expertise lies in curriculum design, accreditation, online learning & educational technology, change management and public-private partnerships.
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