Author: Vicki
Robin and Joe Dominguez
Title: Your Money or Your Life
Description: This
book claims to give a step-by-step plan for achieving financial independence.
Source: yep,
Penguin
Writing style: Pretty
readable. It’s a self-help finance book, so it alternates between giving advice
and stories of people who have taken the advice to their own great advantage.
Audience: People
who want to do better with managing their finances.
Major ideas: The
book instructs the reader to calculate how much life energy any expenditure
consumes (determined by figuring out how many hours of one’s life are spent
working to achieve that amount of money). This is then used to decide whether a
given expenditure is worth it or not (so if it takes me four hours of work to
make enough for a nice meal out, was the meal worth those four hours of my
life?) After realigning spending to match priorities, the reader can work
towards decreasing expenditures and increasing income until financial
independence is achieved.
Wrap-up: The book makes sense, at least
to a point. I’m not sure that the ultimate goal of financial independence is
within everyone’s reach, though I do think that even if people don’t attain
that level, following the advice in the book would put them in better financial
standing. 4/5*
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