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Imagine being able to manage your money in a way that not only helps you achieve financial security, but also increases your happiness. You can, and The Joy of Financial Security shows you how. Cygan’s financial expertise is apparent in topics such as increasing your net worth, wise investment strategies, minimizing taxes, and preparing for retirement. Readers learn how to protect themselves from the next economic downturn, how to avoid the pressure to “keep up with the Joneses:· and how to make smarter financial decisions. But she doesn’t stop there. Applying research from psychology and neuroscience, she guides readers to create happier lifestyles by making small changes that reap big rewards. Simple changes such as focusing on gratitude, nurturing creativity, and choosing experiences with family and friends over more “stuff’ are encouraged. The way she weaves financial strategies together with happiness strategies is fascinating rewarding her readers both financially and personally.

Early in her financial planning career, Cygan noticed that clients who had healthy relationships with their money were much happier overall. Being rich didn’t automatically lead to happiness, and being happy didn’t automatically lead to becoming wealthy; the relationship was much more complex. She devoted many years to researching and pondering the relationship between money and happiness, eventually deciding to share her findings in this book. She concluded that money doesn’t buy happiness, but it definitely impacts it. The dilemma was to determine just how money impacts our happiness.

The Joy of Financial Security is grounded in research, but it also includes personal stories from Cygan’s clients and from her own upbringing. These stories make the advice authentic, and help the reader understand how to implement the financial advice and the happiness strategies into their own lives. She shows that taking control of your finances is not rocket science, and that anyone can become a wise investor simply by developing a financial plan and using discipline to follow the plan. Although they may seem miles apart, money and happiness are tightly woven in our personal lives. Cygan set an objective of helping her readers manage their money wisely, create a secure financial future, and become happier. Her book is full of wisdom and practical strategies, and readers can experience immense rewards.

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A few months ago, I received a free copy of Donna Skeels Cygan’s book, The Joy of Financial Security. I don’t review many books and when I do, I make it a point not to let the fact that I received it at no cost influence my opinion. I don’t make it through more than a few chapters in some of the free books I receive. I finished this one (that’s an accomplishment for me lately) and am glad I did.

This is the 5 Star review I posted on Amazon:

“Cygan delivered a great financial and psychological book. As a fee-only advisor also, I found her first two parts (out of four) the most interesting and very well researched. Part 3 was great for a financial newbie and didn’t seem to fit the rest of the “joy” part to me, but I’m sure someone new to investing would find it very beneficial and helpful to creating joy in their pursuit of financial security. Part 4 was a good wrap up to all of it. I think this book will help me as an advisor. I’ve already implemented some of her suggestions into our family’s daily routine and for that alone, the book is worth the read.”

I’ll add to that review here. I think you have to be somewhat of a financial nerd to enjoy this book. If you are willing to open it and read the first page after getting past the title, it probably includes you. That stereotype certainly includes me and I assume would include most of you who visit my blog on a regular basis and/or subscribe to my RSS feed. Parts of it almost feel like it’s catered to financial/investment advisors, but maybe that’s just because the author is an advisor and I related to her in a lot of ways. Anyone who finds financial topics interesting will enjoy most of this book and should come away with a better appreciation of how the human mind works relative to money and material objects.

Soon into the book, you can tell that Cygan did a thorough amount of research to fill the pages without being redundant or boring. I thought “Part One: Happiness Doesn’t Grow on Trees” and “Part Two: Happiness Strategies”, were enough to make the book worth purchasing. “Part Three: Financial Strategies” didn’t seem to tie into the title’s theme as much, but she was able to bring it together somewhat in “Part Four: Moving Forward”. I would think that most regular My Trader’s Journal readers could skip or at least skim Part Three and Part Four after getting the most bang for the buck in the first two sections.

I’ve incorporated some of Cygan’s material into conversations I have with clients and I think those of you who manage your own money would find value in her research. Even if some of the material covered seems obvious, it’s good to have an occasional review to help keep you focused on what’s important in your own lives and how money ties into that (or doesn’t tie into your happiness).

One of the things I liked most about the book was that she included multiple checklists so the reader can come back to these pages (or download the docs/forms from her Website) and come back to them after finishing the book. For example, she lists items that should be included in your estate planning binder. For most people, the idea of having a binder filled with their financial information is new, but I think it’s a great step to make things easier for family if you are the financial bookkeeper in your family and you die before explaining everything to those who survive you. It might sound like a simple idea, but I can see how this would be a great step towards creating joy in financial security for loved ones. If nothing else, having all of your finances organized can remove stress from your life and that in itself can make you happier.

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By Glimpse

So… the goal of financial security is one of ours – still a distant possibility, but nonetheless something we’re working for. Maybe this is one of your resolutions this year as well. What caught my attention right away about this book was the title itself. I suppose no one would dispute that there is joy in being financially secure, but the very juxtaposition of emotions and business seemed like an interesting approach, and appealed to me. And, I was pleased that joy was connected to financial security, something attainable to everyone, versus to riches, attainable to only a few.

This double-hitter is prevalent throughout the book as well – the focus is equally split on how to increase your happiness and how to improve your financial situation, and how the 2 are intertwined. I’ve read financial books/articles before because I felt I should, but this was an interesting read! 🙂 There’s been a lot of thought into how happiness and financial security are connected. The conclusion is that money definitely has an impact on happiness, but it can’t buy happiness.

Donna Skeels Cygan is a certified financial planner and is the owner of a financial advisory firm. Her goal with this book is to show how being financially secure can reduce stress and make you happier! And she provides tips and strategies on how to achieve this worthy but difficult-to-attain goal. Topics such as increasing your net worth, wise investment strategies, minimizing taxes, and preparing for retirement are all discussed.

Part 1 sets the stage for the link between happiness and a secure financial future, and helps the reader understand how past experiences and neuroscience, among other factors, both play a role in our level of happiness.

Part 2 deals mostly with understanding happiness and how various factors play a role in increasing (or decreasing) how happy one is. Cygan discusses research into the pyschology of being happy and happier and various factors and choices that impact a person’s happiness.

Part 3 addresses concepts related to financial security. There are easy to understand steps to improving one’s financial situation, with the goal of attaining financial security. Because the book is written by an American author, some things (ie tax-related and retirement planning concepts) are more applicable to US readers; nonetheless, there are many valid points for Canadians as well. I really appreciated the clearly laid out steps, which anyone can do regardless of their financial situation!

Part 4 helps the reader join the strategies for happiness with the strategies for financial security and helps you prioritize wishes and changes for the future.

One thing I especially appreciated about the book’s premise in general was the advice to make small changes, and to do so gradually in order to help them “stick.” There are many many references to research, both on what makes people happy, and on financial exercises and their results. I also really liked reading the “case studies,” stories of Cygan’s clients that really help illustrate the point in question.

The Joy of Financial Security website presents a wealth of information as well. Resources such as a net worth statement worksheet as well as personal and financial wishlist are available for printout. As well, you can join the virtual book club, which is presented via a webinar once per month.

**Disclosure: The product/s mentioned have been given free of charge from the company or PR firm in exchange for being featured on Glimpse. The opinions expressed in this post are those of Glimpse and have not been influenced in any other way. Please see the full [Terms of use](http://glimpse-reviews.blogspot.com/p/terms-of-use.html).

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There are many financial books out there – about money management, investing, paying off debt, and frugal living. I’ve read dozens of these, but never anything quite like The Joy of Financial Security by Donna Skeels Cygan, CFP, MBA.

The Joy of Financial Security’s subtitle sums up the book’s unique angle on the topic of money: The Art and Science of Becoming Happier, Managing Your Money Wisely, and Creating a Secure Financial Future.

The art and science of becoming happier? Before discussing investing and retirement – all the topics her clients come to her for as one of the top financial advisors in the U.S. – she discusses happiness and its relationship to money. She gets to the root of who we are and why we make the financial decisions we do by connecting research from the fields of psychology and neuroscience to real-life stories and experiences.

As a college graduate with a Psychology degree and 2 years of experience as a research assistant for my college’s Psychology department, even I learned some amazing things about the connection between our minds, our behaviors and our choices about money. I enjoyed the research as well as the stories and interactive exercises you can do to define what makes you happy and content.

In the chapter “How Your Brain is Wired,” the theory of relative income is explained with simple visuals. If “Sally” is happy and is making $50,000 a year, then makes new friends and finds out they’re making $80,000 a year, according to the relative income theory, even though Sally was happy earning $50,000, she will now be less happy because her income is much less relative to the people around her. But we can combat this theory by applying intentional behaviors (since, as she explains, roughly 40% of our happiness is impacted by our choices) as well as by simplifying our lives – and therefore restricting the influence of materialism on our lives.

Cygan discusses strategies for happiness including doing what you love, cultivating gratitude, investing in yourself – and living a simpler life. She also talks about spending money on experiences rather than things. “Experiences have a far greater impact on our happiness than spending money on ‘things’ and possessions. This clearly bridges the concepts of financial security and happiness.” For example, “planning a vacation can create a significant amount of happiness because you have several weeks of anticipation leading up to the vacation.”

Growing up, whenever my family planned a trip anywhere, the planning and anticipation was always the best part. Even simple trips like a day or overnight trip somewhere just to get away for a little while can be so much fun to plan for and of course, experience. And these are the best memories I had growing up – better than any shopping experience gave me.

The rest of the book is packed with financial planning information including: The Essentials of Financial Security, Tax Strategies, Investment Strategies, Retirement Strategies, and then, Moving Forward – Cygan pulls it all together and helps you create financial and happiness strategies for the future.

The Joy of Financial Security is a joy to read. I LOVE books that go beyond “Do this/Do that” and really help you understand yourself from a scientific but easy-to-understand perspective. In fact, I’ve been sharing the research and stories from the book with my friends and co-workers. There’s The Joy of Sex and The Joy of Cooking – now there’s The Joy of Financial Security and it really is a comprehensive book on the topic of money. This book can really make a difference in your life and I recommend it as an interesting, uplifting, engaging and very informative read for everyone.

By Twin Cities Frugal Mom

There are many financial books out there –about money management, investing, paying off debt, and frugal living. I’ve read dozens of these, but never anything quite like The Joy of Financial Security by Donna Skeels Cygan, CFP, MBA.

The Joy of Financial Security’s subtitle sums up the book’s unique angle on the topic of money: The Art and Science of Becoming Happier, Managing Your Money Wisely, and Creating a Secure Financial Future.

The art and science of becoming happier? Before discussing investing and retirement –all the topics her clients come to her for as one of the top financial advisors in the U.S. –she discusses happiness and its relationship to money. She gets to the root of who we are and why we make the financial decisions we do by connecting research from the fields of psychology and neuroscience to real-life stories and experiences.

As a college graduate with a Psychology degree and 2 years of experience as a research assistant for my college’s Psychology department, even I learned some amazing things about the connection between our minds, our behaviors and our choices about money. I enjoyed the research as well as the stories and interactive exercises you can do to define what makes you happy and content.

In the chapter “How Your Brain is Wired,” the theory of relative income is explained with simple visuals. If “Sally” is happy and is making $50,000 a year, then makes new friends and finds out they’re making $80,000 a year, according to the relative income theory, even though Sally was happy earning $50,000, she will now be less happy because her income is much less relative to the people around her. But we can combat this theory by applying intentional behaviors (since, as she explains, roughly 40% of our happiness is impacted by our choices) as well as by simplifying our lives –and therefore restricting the influence of materialism on our lives. (See –living frugally can make you happy!)

Cygan discusses strategies for happiness including doing what you love, cultivating gratitude, investing in yourself –and living a simpler life. She also talks about spending money on experiences rather than things. “Experiences have a far greater impact on our happiness than spending money on ‘things’ and possessions. This clearly bridges the concepts of financial security and happiness.” For example, “planning a vacation can create a significant amount of happiness because you have several weeks of anticipation leading up to the vacation.”

Growing up, whenever my family planned a trip anywhere, the planning and anticipation was always the best part. Even simple trips like a day or overnight trip somewhere just to get away for a little while can be so much fun to plan for and of course, experience. And these are the best memories I had growing up –better than any shopping experience gave me.

The rest of the book is packed with financial planning information including: The Essentials of Financial Security, Tax Strategies, Investment Strategies, Retirement Strategies, and then, Moving Forward –Cygan pulls it all together and helps you create financial and happiness strategies for the future.

The Joy of Financial Security is a joy to read. I LOVE books that go beyond “Do this/Do that” and really help you understand yourself from a scientific but easy-to-understand perspective. In fact, I’ve been sharing the research and stories from the book with my friends and co-workers. There’s The Joy of Sex and The Joy of Cooking – now there’s The Joy of Financial Security and it really is a comprehensive book on the topic of money. This book can really make a difference in your life and I recommend it as an interesting, uplifting, engaging and very informative read for everyone.

Visit The Joy of Financial Security website for information. Donna also offers a monthly Book Club event worth checking out that’s open to everyone. You can also order the book on amazon.com here.

(Disclosure: I received a complimentary copy of this book to help facilitate this review. My opinions are 100% mine though- this book really is a gem.)

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By Megan Russell

In The Joy of Financial Security, author Donna Skeels Cygan encourages readers to not measure happiness in terms of wealth, and to not measure financial success in terms of “how much.” Instead, she takes a decidedly different approach to the topic. Beginning her book with a quote by Warren Buffet, “Price is what you pay. Value is what you get,” Cygan sets the tone that discourages the stockpiling of material wants and pleasures. This financial advisor, who’s seen her share of unhappy, overly wealthy clients, postulates that to attain financial security, it is essential to know what makes you happy. And while she recognizes that money does not buy happiness, it does impact happiness.

The author cites psychological and neuro-scientific research about how we are truly the only ones in control of our own happiness and financial security. While 50 percent of our happiness is due to our genetics and 10 percent due to our environment, the other 40 percent is how we see things. We are in control of 40 percent of our happiness, and that’s a big chunk.

With this in mind, Cygan advises, “We shouldn’t just ask ourselves, ‘Am I happy?’ That assumes that happiness is a finite destination and that we are either happy or not. If we accept that our happiness is a continuum, a better question to ask is, ‘How can I become happier?’ ”

For Cygan, we all have a happiness baseline that can be raised. There are many financial variables, so readers are encouraged to focus on what they can control.

“The goal must be something other than simply acquiring large sums of money. The goal is to use money wisely—as a tool—and to attain financial security,” Cygan says.

Along those lines, this advisor cites a study conducted by Ed Diener and Robert Biswas-Diencer, which found that our current level of satisfaction is a key to our happiness. As in, if you’re satisfied with your current lifestyle and don’t strive for material possessions, you will be happier. If you strive for possessions, your level of happiness decreases.

“This suggests that it is not the amount of money that impacts our life, but our attitude toward it,” Cygan says.
Joy of Financial_72dpi rgbSo, what is financial security? As a financial planner, Cygan defines it as, “the amount of money you need to feel confident that you can pay your bills, live the lifestyle you want, achieve your goals and not run out of money before you die.”

In chapter three, Cygan discusses your foundation, and she shows how the money messages you learn as a child shape how you relate to money in the future. She also provides valuable information to help overcome those messages that are holding you back from achieving security.

As you move deeper in to the book, this financial advisor gives more applicable advice on what you can do to save money and become secure. In chapter seven, she quotes Kenneth Robinson: “The key to saving is not to figure out where you can cut back so you can add up your potential savings. Rather, it is to make a decision about how much you are going to save. Then the decision about where to cut will take care of itself.”
She suggests to all her clients to save 10, preferably 20 percent, or somewhere in between of what they make each month. Cygan points out that people who make more money don’t necessarily have a higher net worth. Your net worth comes from savings, not income.

Throughout the book, she provides invaluable worksheets so you can keep track of your own finances as she’s discussing them. Another practical saving tip she offers is to save and invest at least 50 percent of bonuses and refunds. Along those same lines, when you finish a car payment or even mortgage payment, that money should be deposited directly in to savings each month as if you were still paying the bill. This will help increase your net worth. Similarly, when you get a raise, that extra money should go to savings. You’re used to living without it, you don’t immediately need it, so let it help you become more financially secure.

A large chunk of The Joy of Financial Security is dedicated to tax and investment strategies, which can seem weighted and complicated to someone who isn’t used to these matters. But Cygan is able to break it down in a way that educates the reader. She discusses the difference between investments that are tax-deferred, taxable and tax-free, and gives valuable advice like keeping your assets in your custody. A broker or financial advisor may encourage you to move your investments to their custody (for example, Bernie Madoff had custody over his clients’ assets), but keep control of your own finances. This isn’t to say don’t use an advisor. On the contrary, an advisor can be an invaluable tool when it comes to investing. Make sure, however, to choose an advisor with a fee-only compensation model.

The book wraps with a chapter on retirement strategies and discusses how to determine how much you’ll need for retirement and how to develop a plan to attain this. For example, if you decide you need $60,000 a year for retirement, you’ll need to account for taxes, inflation and yearly medical costs that aren’t covered by your Medicare, like dental, in that estimation.

In the end, for financial advisor Donna Skeels Cygan, the best way to feel the joy of financial security is to live below your means, be happy with fewer material possessions and save so that one day you may be able to retire without worry.

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This well-researched book is interested equally in offering emotional and financial advice. In a friendly, accessible tone, Cygan, a certified financial planner, acknowledges that money doesn’t equal happiness but that it surely helps. That said, hers is hardly a get-rich-quick message; rather, the strategies are pragmatic and balanced, since, she says, good financial health promotes good mental health. “If money were only the coins or bills in our wallets, life would be much easier and less stressful. Money is much more,” she says. “For people who have experienced periods with lots of money and other periods with very little money, it can trigger feelings of insecurity….Money can also incite feelings of fear and anger.” According to her guide, the key is not to make as much money as you possibly can but to find what makes you happy and then find a way to financially support that lifestyle. In most cases, the end goal doesn’t involve having a four-car garage. Cygan is essentially a proponent of the simple life, one that values experiences over things. If working fewer hours brings you sanity, figure out a way to make it happen. Don’t fall prey to jealousy or to keeping up with the Joneses. “Decide you don’t need a super-sized television or a trendy wardrobe. Even better,” she says, “strive to keep your car for 12 years. It’s a good first step.” While this may just sound like wishful thinking, Cygan gives her readers solid financial advice on how to achieve these dreams. Some of her ideas may seem obvious, such as avoiding credit card debt and saving a little every month, but overall, her ideas are wide-reaching and sensible. She’s particularly good at helping readers think long-term and navigate tricky terrain like the differences between, say, a traditional IRA and a Roth IRA. With the well-laid-out table of contents, readers can easily use the book as a manual for specific issues they may be having.

A useful, hands-on book to help readers prioritize their happiness through practical financial planning.

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For the past few years, I have been living one of my New Year’s resolutions from 2011 – gaining control of my finances. Like many others, I made some bad financial decisions and I’m determined to get my credit cards completely paid off in the next year. I know it’s a major goal, but I think it can happen! In 2014, I want to get us more on a budget and saving money. Yet, when it comes to finances, I never took my own happiness into account, at least, not until a new book arrived that I was asked to review – the Joy of Financial Security by Donna Skeels Cygan. To say the least, this book was very eye opening!

The Joy of Financial Security: What is It
Do you want to gain control of your finances and feel more secure? In The Joy of Financial Security, Donna Skeels Cygan takes a new, interesting approach when it comes to gaining financial security by bringing one thing into the equation that most people do not even consider – happiness. Throughout this book, she shares a variety of stores talking about how she helped her clients gain financial security and prepare for things that were important for them by taking into account what will make them happy. While we know money doesn’t bring happiness, we know it can seriously impact it! You may be surprised with this practical advice that is easy to implement and will in the long turn make you happier and richer!

The Joy of Financial Security: My Thoughts
While I normally don’t read non-fiction, I thought this was an interesting, very eye opening read. Much of the focus on this book is explaining why happiness can lead to more money and what you can do to invest more in yourself. From there, she gives different tips, ranging from investments, retirement, and even taxes! When I first started skimming through the book, I thought it was going to be very complicated, but most of the advice is practical, down to earth, and perfect for everyone. Really, I wish I had a book like this when I first went out on my own after college. Based on my own experience with The Joy of Financial Security, I am happy to give this book an A rating.

The Joy of Financial Security: Where to Purchase
Would you like to purchase a copy of The Joy of Financial Security for yourself or someone you love? Currently, this book is available for $21.90 on Amazon.com.

Disclosure: Budget Earth did not receive compensation but did receive products for review purposes. All opinions on this product are my own and may differ from our readers’ opinions.

Cygan delivered a great financial and psychological book. As a fee-only advisor also, I found her first two parts (out of four) the most interesting and very well researched. Part 3 was great for a financial newbie and didn’t seem to fit the rest of the “joy” part to me, but I’m sure someone new to investing would find it very beneficial and helpful to creating joy in their pursuit of financial security. Part 4 was a good wrap up to all of it.
I think this book will help me as an advisor. I’ve already implemented some of her suggestions into our family’s daily routine and for that alone, the book is worth the read.

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I have read my share of books on how to handle my money as well as books on financial planning. They were all rather dry. The Joy of Financial Security, however, has an unusual subtitle for a book about finances. It is “the art of and science of becoming happier, managing your money wisely, and creating a secure financial future.” Donna Skeels Cygan spends a significant amount of time discussing happiness and how we got happy or didn’t. She looks at childhood influences and their impact on the way we think or react to money based on experience with our parents. She focuses on values, messages and memories. There are even sections on creativity and gratitude. This is not your usual money book. It is a “how to live your life book” so that money and finances are just one part of the big picture, a picture with which I can be happy.

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From the title to many of the key messages within the book, The Joy of Financial Security gives one hope during a very unstable economy. Cygan says to “control the controllables” — those things that are within our power to control and not to worry so much about what the government is doing or where the economy is going. Watch the spending, cut the expenses, save what you can, and remember that having experiences with family and friends is more important than just buying things, no matter what Madison/Fifth Avenue says. I found The Joy of Financial Security to be a light at the end of the tunnel, giving hope and specific, tangible steps to take toward securing one’s future.

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Specifically written for the non-specialist general reader with no previous background in money management or finance, “The Joy of Financial Security” is an ideal and comprehensive introduction to handling money, credit, debt, and all other matters related to financial well being. As practical and applicable as it is superbly organized and presented, “The Joy of Financial Security” is a strongly recommended instructional guide and would prove to be an enduringly popular addition to community library Money/Finance reference collections. It should be noted that “The Joy of Financial Security” is also available in a Kindle edition ($9.99).