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A review by aathos
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
4.0
Your Money or Your Life puts as much focus on the Personal part of Personal Finance as it does the Finance, encouraging the reader to consider how their money habits fit with their ideals. Going beyond the basic steps of calculating your net worth and tracking your spending, YMOYL gives focused directions on how to think about your earnings and spending in a way that will cause you to see where you need to make changes and motivate you to actually make them. I have been halfheartedly working towards Financial Independence (FI) for a little while now, and I intend to implement their plan to really kick it into a higher gear.
I had just a few small complaints that kept me from giving the book a full 5 stars, and would have given 4.5 if I could. The opening chapter is written for someone who doesn't yet have control of their finances, which I didn't find quite as relatable, but I recognize that I am not the target audience they are trying to encourage to read the whole book. Also, the investment advise is significantly more risk averse than I think is necessary, even in the updated edition that I read which admits that keeping all your funds in bonds may not be the best choice.
I highly recommend this book for anyone who wants to get their personal finances in line with the life they want to live. The few criticisms I have are mostly due to the fact that I already had my finances in order, though not optimized for reaching Financial Independence quickly.
I had just a few small complaints that kept me from giving the book a full 5 stars, and would have given 4.5 if I could. The opening chapter is written for someone who doesn't yet have control of their finances, which I didn't find quite as relatable, but I recognize that I am not the target audience they are trying to encourage to read the whole book. Also, the investment advise is significantly more risk averse than I think is necessary, even in the updated edition that I read which admits that keeping all your funds in bonds may not be the best choice.
I highly recommend this book for anyone who wants to get their personal finances in line with the life they want to live. The few criticisms I have are mostly due to the fact that I already had my finances in order, though not optimized for reaching Financial Independence quickly.