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Review & Giveaway: Your Money or Your Life by Joe Dominguez & Vicki Robin
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The second book I’ve read toward my goal of reading 12 personal finance books in 12 months is Your Money or Your Life by Joe Dominguez & Vicki Robin. Yes, I’m a little behind in my challenge, but I plan on catching up real soon.
About the Authors:
Joe Dominguez (1938-1997) believed in leaving this planet in better shape than he found it. He believed in simplicity and taking charge of finances to live life according to priorities.
Vicki Robin is President of the New Road Map Foundation. She has appeared on “Oprah” and “Good Morning America” and has been featured in People Magazine, The Wall Street Journal, Newsweek, and several other publications. She speaks frequently on the topic of “consumption downsizing.”
About the Book:
Your Money or Your Life is a 9 step program for taking charge of your money and living your life according to your priorities. From calculating how much money you’ve already made to walking you through the things you want to do when you are financially independent, this book covers the entire journey to financial independence.
The authors definitely have a bent toward simple living that comes across frequently in the book. They stress that you trade your life energy for money and challenge you to determine how much life energy you are willing to trade for the money you are making.
This book walks you through the beginning stages of taking stock of your current financial situation to finding ways to cut your expenses and increase the difference between what you are bringing in and what you are spending.
The authors show you the importance of investing and talk about the important “crossover point”: that point which the money you are earning from your investments crosses over the amount of money you spend each month.
Once you are at the point of financial independence, the authors encourage you to continue contributing to society in any way you want to, whether that’s volunteering, continuing to work, or something else. The important thing is, once you reach financial independence, it is your choice as to where and for how much you want to work.
My Opinion:
All in all I thought Your Money or Your Life was a good book. It provides a very clear plan to take charge of your finances. The “assignments” were very useful and eye-opening.
This is not a quick read. Initially my plan was to read this book in one month, and it took me almost three. I could have taken longer. I found I needed to stop frequently to think about a point for a day or two.
Though I liked this book, it’s not my favorite personal finance book. After hearing several personal finance bloggers rave about how life changing this book was, I was expecting something a bit more.
I think one of the reasons I was a little bit disappointed is that I have never been really enamored with career or money. Since one of the big points of this book is to teach you to consider your life purpose and live accordingly, and since I already feel I have this concept down, I guess I just wasn’t blown away.
That being said, I do recommend that everyone read this book, especially if you’ve never considered how much energy you are putting toward your job and what kind of return you are getting on your time investment. I can see where Your Money or Your Life would be life changing if you had never considered that before.
Overall, I’m going to give this book 4 out of 5 piggy banks. I can definitely understand why Your Money or Your Life is a classic among personal finance books.
The Giveaway:
I am giving away my once read copy of Your Money or Your Life. To win, just leave a comment on this post. One comment only, please. Multiple comments will be deleted. I will close comments at 12 noon on Friday, March 21, 2008 and draw a winner using random.org.
Due to the high cost of shipping, this contest is only open to residents of the United States.
Please remember to enter a valid email address in the comment form, as that’s how I will be contacting the winner.
I think I’ve covered everything, so happy commenting, and best of luck!
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49 Responses to “Review & Giveaway: Your Money or Your Life by Joe Dominguez & Vicki Robin”
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I’d love to read this. Please enter me!
What a wonderful plan: review finance books and pass them on to others. And especially one that helps people escape from the career and money traps.
Throw my name in the hat to win this book. I have been wanting to read it, but haven’t had the extra cash to purchase. Once I finish reading, I’ll pass it on also.
I’ve heard of this book so much, but I haven’t had a chance to get my hands on a copy yet. If I don’t win it here, then I’ll check for it at my library.
And if I do win it, I’ll read it and then keep the book going by giving it away
Have you read “The Purpose Driven Life”? I’m reading it right now. You’re supposed to read one chapter per day for 40 days, so the content will sink in and you can ponder one point at a time. So far, I really like it!
I keep hearing about how good this books is, so I’m trying to save money by getting it free! Help!
Hi Lynnae,
I really have realized that it’s literally “my money or my life” before I even heard of this book. I’m not allowed to spend any money in stores for the foreseeable future so ….
Would luv to read and pass it on.
Please enter me!
I’d love a chance to win, and I’ll continue passing it on if I do. I’m trying to reduce my spending AND my clutter.
I love reading, especially PF books. It helps keep me motivated!
Love your blog! Count me in!
Please enter me! And I do have a US address you could ship too.
I would love to read this. I have heard so much about this book. It would be perfect for a college student preparing to graduate soon.
I am in dire need of that book, ready to start my own financial journey as well. Please enter me in!
I’ve been wanting to buy this book, but haven’t yet. Please enter me!
Please enter me! I love finance books.
Hi Lynnae! I have had this on my “to read” list for like a year. Because I don’t *need* to buy it I haven’t done just that, but I would love to win it! This is a cool idea. Anyway, here’s my hopeful submission! And think how cheap the shipping will be to WA
*wills random.org*
I’d love to win this book. I recently checked it out from the library, but haven’t started it yet because I can tell it won’t be a quick read. Hopefully I can renew the book after two weeks!
I’ve heard a lot about this book, and I would absolutely love to win a copy.
Thanks!
Please enter me - Thank you!
I’d love to read this! Thanks for the chance!
Valerie
wvgreenb@gmail.com
Sounds interesting!
Would love to read this! Thank you for sharing your book with someone else!
I heard a lot about this book from others so I’d really love to read it!!! Please enter me!! =)
I would love to read this. Please pick me.
I’d love a chance to win! Thanks!
I would love to read this book, please enter me!
I would love to read this book, I have heard so much about it, but I am restricting my book buying(I am truly addicted!) and it is never available at our library.
Sign me up…Although I have yet to read the last book I won
Take Care
LJ
Please enter me - this is definitely a book I want to read. Thanks!!
Looks like a good read, please enter me!
I started getting my finances together in November and even started posting my struggles and successes on my own PF blog. I’ve heard good things about this book.
Please enter my name in your drawing.
Thanks!
I’ve heard great things about this book. Please enter me into the giveaway!
pls. share some of names of the 12 books on finance you plan.? would like to read your money or your life pls. enter me thank you
wow this is great I want to win that book too! thanks for the offer and i wish you the best of luck reading 12 books in 12 months ^_^
I’d like to enter. I may add it to the stack I’m reading…
I’d also be interest to know when you start to find a repetitive point… Most PF books I’ve read all state the same stuff. Spend less than you make and do something smart with the difference. Some just do it with a little more flare.
The thesis you presented is not new to me but I don’t think I’ve seen an entire book with that thesis.
I’d like to enter. We’re in the process of becoming debt free and love to learn new tips about how to be financially responsible.
Everything in life is a trade off ~~ you spend your time each day only once. We became debt free early in life ~ because we waited for things we wanted till we had the money to pay for them. We skimped a bit on our needs when we had to - but we have no debt, our business (23 years old) has no debt, and having experienced that freedom (from debt) and I would encourage others to give it a try.
Wow. I think this is a great giveaway. Especially since I am actively trying to get out of debt. Please enter me in the drawing.
This sounds like something I need to read. Thanks for your giveaway.
I have heard so much about this book. If I don’t win I will check and see if the library has it. Love your blog.
Hi, I would enjoy reading and studying this book. I need to read a book like this one! I am in Debtor’s Anonymous and have learned many financial aspects the difficult way. Simplify is the word these days and I want to do it! Please enter me in your drawing. I appreciate it…..Thanks,Cindi
I’d love to read it — sign me up
I have been looking for this book. please enter me!
Please enter me. I have been on a waiting list for this book for months at the local library. Looks like I am still 10th in line. That will be another couple months of waiting. I have heard nothing but good things about the book, but I am too cheap to buy it. Thanks, Blair
please randomly pick me!!
sounds like a great book. my fiance and i could definitely use some guidance!
I’ve been wanting to read this. Thanks!
Thanks for this giveaway. It would be helpful to have this book. Love to learn from it.
I love reading finance books.Everytime,I read a finance book, I learn a lot from it.Hopefully I will be the lucky winner!