SOCIAL SCIENCES

Mind Over Money: The Psychology of Money and How To Use It

by Claudia Hammond
Harper Perennial. Nov. 2016. 384p. notes. index. ISBN 9780062317001. pap. $15.99; ebk. ISBN 9780062317018. PSYCH
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BBC Radio 4 presenter Hammond (Time Warped) presents an intriguing analysis of the psychology of money and the complexity of our relationship with it. Delving into research in psychology, behavioral economics, neuroscience, history, and sociology, Hammond explains why currency has such a powerful influence on human behavior and thinking. She also includes numerous tips and tricks designed to help use and save it. The clearly written chapters address the early relationship with money formed during childhood, the puzzling carelessness the more expensive an item, why we hate losing money while recklessly gambling to win it, the importance of product pricing, the dynamics of saving, the joy of spending, why giving money away makes us feel better, and the influence of poverty on IQ and bad financial decisions.
VERDICT While Hammond's blend of diverse research results covers more fields than found in Eric Tyson's Mind Over Money or Brad Klontz's and Ted Klontz's Mind Over Money, either of those works should suffice for most public libraries. University libraries might prefer Hammond's title with its broader empirical base that summarizes numerous experiments about money, while connecting with readers interested in learning more about the rich, complex relationship most people have with money.
Reviewed by Dale Farris, Groves, TX , Oct 01, 2016
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