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spinstah's review against another edition
3.0
This was interesting, if a little new-agey at times. (It originally came out in the '70s, I believe, and was updated in the mid-90s.) Basically it's a nine-step plan to early retirement, based on determining your optimal comfort level in life, and what sort of income is required to sustain that. I don't currently have any plans to follow the entire program, but I did think that the sections where they talked about determining the real value of something you buy -- both in terms of how many hours you had to work to afford it, as well as in terms of how much enjoyment you'll get out of it. There's also an interesting visual method for charting income and expenses that I might adopt. We'll see.
Overall, some good ideas.
Overall, some good ideas.
megankphelps's review against another edition
5.0
One of my favorite books of all time. This empowering book illustrates how to align your finances with your values. It discusses how to honor your time / life energy by confronting your spending, earning, and fulfillment. It also addresses the role of work, the importance of having "enough" (and not "more, more, more"), and some options for investing. I read it once and re-read it with a book club to delve into the steps, which were amazingly powerful as well! Make sure to get the most updated edition (for 2018). I'm not going to stop talking about this :D
kellyleao's review against another edition
3.0
This book is suited to those wanting to develop frugal spending habits. I was expecting more helpful information regarding investing and there isn’t really any mind-blowing information in the book that you likely don’t already know, hence my low rating.
meggggr's review against another edition
5.0
Really great book to read, especially as I transition into a new job. Thank u megan. If all else, I really encourage people to read Step 4 and Step 7. These were transformative to me, making me think about my “life purpose” and how it relates to money, as well as reframing my job and passions into unique categories of thought. As the authors state “one of our primary missions in the book is empowerment — allowing you to take back the power that you have inadvertently given over to money”
Really can’t recommend enough! I already am very frugal and focused on saving, but this book helped to provide a greater context to it all.
Really can’t recommend enough! I already am very frugal and focused on saving, but this book helped to provide a greater context to it all.
alzlwldu's review against another edition
challenging
reflective
medium-paced
3.75
Interesting from a sociological standpoint.
diz_tn's review against another edition
5.0
I thought I knew just about all I could know about the basics of simplicity, budgeting, and how to get to financial independence on the slow and steady. This book changed my mind and changed my attitude. Wow! There's nothing new per se as far as techniques. However, this book will give you such insights that it will change your mindset.
A few of the things I learned:
* When creating a budget (the book does not call it a budget, nor does it even suggest you stick with one btw), use completely unique to you categories! I'm a numbers person and come up with a budget quite easily. Yet all my adult life I've been trying to fit my expenditures into these categories that quite often don't fit. Maybe this is common sense to most. But as a follow-the-rules, color-in-the-lines type person, this was a major insight for me.
* Calculating your true hourly "wage" and applying to to everything you spend money on. I'd heard of this concept in a more limited fashion. But thinking about EVERYTHING involved in a job - not just the commute, meals, and dress clothes, but the health care costs, all the hours you spend venting to friends and family, and time and money spent doing things simply to destress! Also, asking the question "was it worth it?" is what makes this part so powerful, not just figuring out how many hours of your life you gave up for that thingamajig.
* The Cross-Over Point, where your investment income equals your monthly expenses. This was the big one for me. Yeah, I'm a numbers person, but the whole knowing when you can retire thing I never could grasp because I'm also a visual person. Seeing it all charted on a graph like that...I finally GOT it.
I'm buying this book for all my friends and family!
A few of the things I learned:
* When creating a budget (the book does not call it a budget, nor does it even suggest you stick with one btw), use completely unique to you categories! I'm a numbers person and come up with a budget quite easily. Yet all my adult life I've been trying to fit my expenditures into these categories that quite often don't fit. Maybe this is common sense to most. But as a follow-the-rules, color-in-the-lines type person, this was a major insight for me.
* Calculating your true hourly "wage" and applying to to everything you spend money on. I'd heard of this concept in a more limited fashion. But thinking about EVERYTHING involved in a job - not just the commute, meals, and dress clothes, but the health care costs, all the hours you spend venting to friends and family, and time and money spent doing things simply to destress! Also, asking the question "was it worth it?" is what makes this part so powerful, not just figuring out how many hours of your life you gave up for that thingamajig.
* The Cross-Over Point, where your investment income equals your monthly expenses. This was the big one for me. Yeah, I'm a numbers person, but the whole knowing when you can retire thing I never could grasp because I'm also a visual person. Seeing it all charted on a graph like that...I finally GOT it.
I'm buying this book for all my friends and family!