Throughout our lives, we encounter fraught decisions around love and money: whether to take a better job across the country when our partner wants to stay put; when and whether to marry, buy a house, have a child; if we should work full time with children in the picture. Money and love “are profoundly intertwined, and both are fundamental to living a life of purpose and meaning, health, and well-being,” write Myra Strober and Abby Davisson, co-authors of Money and Love: An Intelligent Roadmap for Life’s Biggest Decisions.
Strober, who was the first female faculty member at the Stanford Graduate School of Business, created a groundbreaking class on work and family and has led thousands of students through it over the years. As a business school student, Davisson took Strober’s class with her then-boyfriend, and for their final paper, the couple chose the topic of living together before marriage. (Now married, the two have returned to the class as guest speakers for a decade.) Money and Love is informed by this popular class.
Organized around issues such as dating, marriage, deciding where to live and dividing household chores, the book’s chapters offer anecdotes, background research and thoughtful commentary, as well as questions and exercises. The authors call their decision-making framework the 5Cs: clarify (define your deep-down preferences), communicate, choices (generate a broad range of choices), check in (consult with friends, family, research) and consequences (categorize possible outcomes over time). This framework may sound simplistic, but the authors emphasize the complexity of each step toward making life decisions. Good communication, for instance, “isn’t always polite and calm. Sometimes it’s incredibly awkward and uncomfortable. Sometimes it involves raised voices and, later, apologies for what was said in the heat of the moment.”
Money and Love offers a readable approach with nuggets of wisdom throughout. “Remember that each new agreement is essentially temporary, changing as different parts of life ebb and flow,” Strober and Davisson note in the chapter on sorting out housework and caregiving. The authors supplement anecdotes from former students and colleagues with their own, and Strober’s stories about the end of her first marriage and her second husband’s Parkinson’s disease, and Davisson’s story of her mother’s devastating brain injury at 68, add depth to the book. Money and Love is a useful guide, particularly for young couples on the verge of big decisions.