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A review by juliajjshields
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Fully Revised and Updated for 2018 by Joe Dominguez, Vicki Robin
3.5
3.5✨ as someone who’s been on a financial literacy and knowledge building journey this year, a lot of the information presented in YMOYL wasn’t new. However, I appreciated the nine step program in its simplicity and accessibility. At times the writing (I listened via audiobook) was a bit cringe or dated, but that is a lil expected in a revision of an older text originally targeted for an older audience.
I loved loved loved the overall notion that there’s no right way to finance and you are learning your own way. This has taken me awhile to accept in my own life that we are all in different places and how we navigate money will range. Just because someone is doing one thing doesn’t mean you need to as well. This journey is all about what works for you. No use in setting a budget you saw online if you wont use it or can’t commit to it. The other aspect I found extremely helpful that I’ve also just come to do in full this year is face all of it head on. The first step of the program is to figure out your net worth. What you’ve gained what you owe etc. This knowledge is the foundation for the rest of the book and such basic, but sound advice. I didn’t love the final steps with the heavy focus towards early retirement (ie 30 yrs old) as that’s not the path I’d like to take, but appreciated the insight regardless.
Transparently, I didn’t do the nine step program while engaging with this book but rather just listened all the way through, making notes and jotting down ideas. I plan to adopt some of these concepts into my life but seeing as I feel rather secure in my current financial approaches, taking on the whole program feels a bit unnecessary at this point in time. Im sure this impacts my review as Im not experiencing the results of such a program. I’m glad however for the knowledge and advice. This is definitely a great tool for those looking to expand their financial lens, live more intentionally and save more!
NOTES
- DINKs - double Income no kids. never heard of this term before & found it hilarious
- clutter not just being things but experiences in your life that don’t add value. Elements in your environment that doesn’t serve you but take up space
Note and write down every purchase down to the cent. Be aware of what’s going out and in
Make an up to date chart of your total
Monthly income & expenses. Don’t shy away from it, look at it often. Make it visible. Maybe even share with others
- calculate the amount of life energy each purchase is
- Create spending categories based on own unique experience
3 questions to ask every month when examining chart
- did I receive fulfillment in proportion to life energy spent (purchases)
- Is this expenditure of energy in alignment with my values and life purpose
- How might this expenditure change if I didn’t have to work for money,
- Evaluate whether the expense should increase, decrease, or stay the same
Waste lies not in the number of items but in the level of enjoyment of said items
Value Life energy, minimize expenses and spending to create greater alignment
Concept of money talks as spaces to discuss finances with others openly. Not letting internal shame and blame exist
I loved loved loved the overall notion that there’s no right way to finance and you are learning your own way. This has taken me awhile to accept in my own life that we are all in different places and how we navigate money will range. Just because someone is doing one thing doesn’t mean you need to as well. This journey is all about what works for you. No use in setting a budget you saw online if you wont use it or can’t commit to it. The other aspect I found extremely helpful that I’ve also just come to do in full this year is face all of it head on. The first step of the program is to figure out your net worth. What you’ve gained what you owe etc. This knowledge is the foundation for the rest of the book and such basic, but sound advice. I didn’t love the final steps with the heavy focus towards early retirement (ie 30 yrs old) as that’s not the path I’d like to take, but appreciated the insight regardless.
Transparently, I didn’t do the nine step program while engaging with this book but rather just listened all the way through, making notes and jotting down ideas. I plan to adopt some of these concepts into my life but seeing as I feel rather secure in my current financial approaches, taking on the whole program feels a bit unnecessary at this point in time. Im sure this impacts my review as Im not experiencing the results of such a program. I’m glad however for the knowledge and advice. This is definitely a great tool for those looking to expand their financial lens, live more intentionally and save more!
NOTES
- DINKs - double Income no kids. never heard of this term before & found it hilarious
- clutter not just being things but experiences in your life that don’t add value. Elements in your environment that doesn’t serve you but take up space
Note and write down every purchase down to the cent. Be aware of what’s going out and in
Make an up to date chart of your total
Monthly income & expenses. Don’t shy away from it, look at it often. Make it visible. Maybe even share with others
- calculate the amount of life energy each purchase is
- Create spending categories based on own unique experience
3 questions to ask every month when examining chart
- did I receive fulfillment in proportion to life energy spent (purchases)
- Is this expenditure of energy in alignment with my values and life purpose
- How might this expenditure change if I didn’t have to work for money,
- Evaluate whether the expense should increase, decrease, or stay the same
Waste lies not in the number of items but in the level of enjoyment of said items
Value Life energy, minimize expenses and spending to create greater alignment
Concept of money talks as spaces to discuss finances with others openly. Not letting internal shame and blame exist