Every decision we make has consequences, both costs and benefits. And the costs are not always financial, but can be personal. “The Real Cost of Living: Making the Best Choices for You, Your Life, and Your Money” by Carmen Wong Ulrich is a book that can help you make better decisions that involve money, but aren’t just about money. I like that the book discusses other costs associated with the topics in this book, and not just the price or amount of money involved. At the top of the back cover is a line that reads, “Life isn’t always about money.” That is very true, and this book will help people recognize some of the other ingredients, costs, and benefits of the decisions one makes.
The book begins with an introduction that illustrates that even small decisions we make can cost more than we think, and encourages readers to weigh the pros and cons to make the best decisions. The first chapter is one the actual cost of the house. Sure, when you buy a home you have to pay the negotiated price, and depending on the interest rate you receive if you finance the purchase, that’s a dollar figure of what a home costs for most people. This chapter takes you through some of the other costs.
Chapter two looks at the real cost of marriage and divorce. This includes looking at actual weddings and divorces, but also the aftermath of these and other surprises. The third chapter deals with the cost of the family. As a parent, I know that the hospital cost when your child is born is minor compared to other costs of raising children. I’m sure all parents will agree. This chapter provides some things to think about.
Chapter four focuses on college and various considerations when thinking about higher education. The next chapter, chapter five, is one of my favorites in the book. I think a lot of people forget to think about these things, or maybe they don’t want to. The bad habits addressed are being overweight, smoking, caffeine, distraction and reckless driving. Obviously, it’s your choice when it comes to these things, but this chapter presents some things to think about and what these options really cost.
Chapter six addresses the costs of being your own boss, and chapter seven discusses the true cost of credit cards. Then, in chapter eight, saving is discussed, and that leads to the last chapter on investing. The book also has a good reading list and additional resources, as well as an index.
I like this book because I think it makes people think about things that are often overlooked. Thinking about this can help you make better decisions and live a happier life, because you’ll be making informed decisions that you’ve thought about. I’m all for any book or resource that makes people think more about what they’re doing. This book does that.
