“The making of many books is without limit,” says the book of Ecclesiastes, and that weary reaction seems appropriate when considering yet another offering on personal finance. But Paco de Leon’s Finance for the People: Getting a Grip on Your Finances is a refreshingly original contribution to this crowded field, and one her fellow millennials will find especially valuable as they contemplate the decades of decisions that will shape their financial futures.
Founder of the Hell Yeah Group, a financial firm that emphasizes service to creatives, de Leon touches all the traditional bases, from how to handle debt to saving and investing for retirement. Much of this advice (e.g., automate savings and max out contributions to a retirement account when there’s an employer match) doesn’t stray far from conventional paths. But as she leads readers on the perilous ascent of what she calls the “Pyramid of Financial Awesomeness,” several aspects of her approach stand out.
Acknowledging that we are all “weird about money,” de Leon offers an empathetic yet concrete perspective on overcoming the psychological barriers that prevent many people from dealing effectively with financial decision-making. And while she’s not averse to discipline, she disdains some of the popular emphasis on austerity (think David Bach’s The Latte Factor). Rejecting a worldview that chooses “scarcity over abundance,” she’s intent on “helping people connect to their financial power,” encouraging them to think at least as hard about generating more income as they do about saving in order to balance what she calls the “personal finance equation.”
De Leon delivers her message in a breezy, conversational style, emphasizing key points with an assortment of clever cartoons. At the same time, she is eminently practical, insisting on the need to set aside 30 to 60 minutes of “weekly finance time” as a first step toward systematically establishing sound money habits. Most notably, de Leon includes some tips—including journaling as a means of “unearthing your beliefs about money” and using mindfulness meditation to develop the muscle of delayed gratification—not likely to be found in other books of this genre. Above all, she’s an engagingly self-deprecating storyteller, illustrating her advice with tales of some of her own money missteps and their hard-earned lessons.
Dealing with money is one of life’s inescapable realities, and for most people there will always be some amount of pain associated with it. Having a friendly guide like Finance for the People can help the journey become both more bearable and more profitable.
