Book review by Celine Nadolny: “Thinking about money”

Instead of dry investment tips and complex financial strategies, the author focuses on how money affects our lives. He describes how we can make smart, calm decisions about it that lead to a better quality of life. The book begins with a fundamental but sometimes life-changing question: Why is money important to us? This question leads to a profound reflection on how our attitudes towards money affect our quality of life and our relationships. The author argues convincingly that it is not about being rich. Rather, the goal is to be financially independent and calm in dealing with money.

A central theme of the book is the wealth strategy, which Nikolaus Braun describes as transparent, simple and manageable in the long term. He unmasks the empty promises of the financial industry. Instead, he offers his readers a clear path to a personal wealth strategy that is in line with their life goals.

His approach to implementation is particularly valuable: in addition to wealth creation, he also deals with emergency and succession planning and emphasizes the importance of powers of attorney and wills. He also shows how smart budget planning ensures long-term financial security.

What makes the book stand out is its holistic approach. The author repeatedly emphasizes that money should not be an end in itself, but a means to improve lifestyle and promote personal satisfaction. He links financial decisions to quality of life and emphasizes the importance of successful human relationships.

Braun’s writing style is always accessible and practical. He illustrates complex financial concepts with stories from his consulting practice that underline the realism of his advice. This makes the book more than just a financial guide: it is a life guide that encourages people to proactively shape their own financial future.

“Money is a central and immensely important part of our lives.” I want to help you to deal with money more intelligently and calmly in the future and to make competent decisions. Decisions that will lead you to lead a better life. But one thing must never be lost sight of: it is not money, but successful human relationships that form the real focus of a fulfilled life. You shouldn’t take the topic of money seriously either. Dealing too much with money will make you dissatisfied, unhappy and probably a more unpleasant person. Good and simple money decisions are urgently needed.” Nikolaus Braun

At this point, a few words about the author: Dr. Nikolaus Braun has been a cross-border worker between the humanities and the financial sector for almost two decades. The historian with a doctorate began his career at a major bank more or less by chance. However, they left him disappointed when he was supposed to become a pure financial salesperson.

Today, Braun is a senior partner in an asset management company and co-founder and co-director of Neunundvierzig Honorarberatung in Munich. There, he uncompromisingly implements his vision of independent and holistic asset management. He has already published two successful financial guides with Campus Verlag, including “Money or Life – How to stop doing nonsense with your assets*.”

“There are dozens of financial guides. Many bad ones, but also some pretty good ones. Most are intellectually devastating, but some are also technically outstanding. But for private investors, toxic waste and highly rational ideas often sound equally plausible. In addition, the recipes for success of the various authors are often extremely contradictory. With the result that the readers of this guide potentially dilute or overturn their strategy with each new book.” Nikolaus Braun

Right from the start, I noticed the new cover, which I really like visually. Although I have to be honest and say that the old cover was probably the bigger eye-catcher. I think this cover is nicer, but the old cover would certainly have found more buyers in a bookshop. But at least the book has a very catchy title that attracts attention and invites interested readers to take a second look.

The solid softcover binding – which is always the most comfortable when reading – and especially the contents of the back cover are completely convincing. Especially when you take a look at the table of contents, you quickly sense that the author’s work follows a sincere, scientifically sound and, above all, reflective approach.

In terms of content, it is simply a book as it should be. One that imparts knowledge without being overly artistic and trying to draw attention to the author’s further offerings. It’s sad that I have to emphasise the positive aspects. But anyone who reads a lot will know how the publishing industry has changed in recent years.

Is it worth buying a new book if you have already read the first edition? In my opinion, it is only worth it for readers who absolutely want to be “up to date”. Nevertheless, it does make sense to update such a work from time to time. But even in the first edition, many of the analyses and insights were timeless. But of course, I also know from my blog the target group that only reads new books. These people automatically label works that are five years old as outdated and uninteresting.

“But even when I meet people who follow good financial advice, they regularly fail to implement it.” Why? Financial advice, as the name suggests, deals with money. The basic question of all financial advice is: What should I do? What are the best investments, what is the best strategy, how do I stay up to date, when should I get in or out, should I buy a property and how do I finance it…? It’s about complex techniques, approaches, and since money is something apparently rational, the factual level dominates (at least apparently). Sooner or later, the reader finds himself on an unsettling search for an unattainable optimum. A search that tends to make him dissatisfied and is unlikely to lead to success. The question ‘What should I do?’ is not bad in itself, but it falls far short. The much more important question on the subject is: Why is money important to me? Next: What does my money have to do with my life, with who I am? How can it contribute to a successful life, to the success of human relationships? What creative freedom should it open up for me? How do I prevent my money from dominating me, worrying me, perhaps even tyrannizing me? How does it make me more satisfied, and in the best case, happier?” Nikolaus Braun

In summary, “Thinking about money” by Nikolaus Braun is an enrichment, especially in its completely revised second version. Particularly for people who want to build a healthy and sustainable relationship with money with a well-founded and empathetic guide. This book not only promotes financial education. It also encourages people to talk about money and reflect on its importance in life. Braun manages to present complex topics in a simple and understandable way. It therefore offers valuable orientation in the often confusing world of finance.

Because there are people who are looking for more than just quick money. They want to enrich their lives through smart decisions instead of leaving them to their bank advisor. For them, “Thinking about money” by Nikolaus Braun is therefore highly recommended.

“Irrational decisions are encouraged by a devastating lack of general financial education – in all educational levels, from warehouse clerks to chief physicians.” Compound interest calculations, the basics of the capital market, a rational approach to risk: none of that. Instead, there is a lot of half-knowledge and quarter-knowledge. Nothing is taught in school, the financial industry has no interest in well-informed customers – although many stupid decisions could be prevented with a calculator and basic arithmetic. Not only is the rational understanding of money limited, the emotional approach to the topic is also mined. Worse: while ignorance can easily be resolved through education – for example, reading one or two sensible guides on the subject of money – the emotional distortions are deeper rooted.” Nikolaus Braun

Celine Nadolny has been a columnist for Cash. Magazine and Cash.Online since 2022. In 2019 she founded Book of Finance and became Germany’s most influential non-fiction book critic. With more than 400 non-fiction books reviewed, she has now received twelve industry awards, making her the DACH region’s top financial blogger and was included on Forbes’ 30 Under 30 list. Celine wants to inspire as many people as possible to read more, take control of their finances and lead a fulfilling life.