Your Money or Your Life
Most people do not know that my biggest priority is getting my shit together financially. My goal is to finally break the generational curse, change terrible money habits, and build a wealthy future that I will enjoy. This goal will also allow me to leave behind a legacy that I can be proud of. I recently heard about the book “Your Money or Your Life: 9 Steps To Transforming Your Relationship With Money And Achieving Financial Independence”
I ran to my favorite store Barnes and Noble…... There I go spending again. I started reading this book as part of a book club with a money group that I’m a member of. At first it was hard to read and I felt like most of the suggestions I already knew and practiced. By page thirteen I was screaming “Just tell me the muthafuckin steps already!!!”. In frustration I took a few days break from reading. But like everything else in my life, when I feel discomfort that is usually a sign it’s the right thing to do.
One weekend I jumped back into the book with this renewed energy. I was extremely focused and retained the information easily. I began really enjoying the book and feeling eager to get home each night to continue my reading. She speaks about our money and compares it to life energy. When I completed my own “Life Energy” calculation I was shocked. Then angry. Then shocked again. It really hit me when I read “We Aren’t Making a living, We’re Making a Dying’. A few chapters in covered how over consumption is ruining our livelihood and the planet for years to come. It was a mini wake up call for me to analyze my life and current financial status.
Ironically, I was reading this book during the 2019 Government Shutdown. I personally knew someone who was not being paid and was growing worried about their upcoming bills. Those thoughts opened my eyes to a different world. A world in which financial security became a secret gateway to peace of mind. I have been pretty good with my funds over the years, but this realization forced me to bump things up a notch.
This book provides 9 easy steps to follow that are proven to transform your life.
Step One: Making Peace with the Past
Step Two: Being in the Present - Tracking Your Life Energy
Step Three: Monthly Tabulation
Step Four: Three Questions That Will Transform Your Life
Step Five: Making Life Energy Visible
Step Six: Valuing Your Life Energy - Minimizing Spending
Step Seven: Valuing Your Life Energy - Maximizing Income
Step Eight: Capital and the Crossover Point
Step Nine: Investing For FI (Financial Independence)
I recommend this book to anyone who might be thinking about getting their financial shit together and for those who are already on the journey and need some extra motivation. At the end of each step there are a set of questions in which you could ask yourself or use for discussion purposes.
Here are my biggest takeaways from Your Money Or Your Life by Vicki Robin and Joe Dominguez
1. There are literally over 1,000 ways to save money
2. Tracking every penny of your money is tedious but necessary
3. Having a written budget is the major key to success
4. The money you spend is often not worth the energy you used to make it
5. Good money habits have a positive effect on your overall health
“No Shame, No Blame
- Vicki Robin