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Book Club: Beginning Tracking

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I completed my first read thru of Your Money or Your Life and am so excited for our book club discussion in a few weeks. With that being said, I have decided to start my work on the varying steps. Therefore tomorrow, I will start tracking EVERY penny in and EVERY penny out. I decided that the first of the month was the ideal time to do that…and it’s key to moving forward with the steps.

The Book

I read a chapter a night, and after the first chapter have not had any more reservations about the process. The concepts around Enough, Purpose and Values that are stress throughout the book really speak to me. I’m trying now to reveal too much. But needless to say, the theories presented in this book really speak to the heart of the matter for me. My relationship with money.

Book Club

My thoughts for our discussions is that we tackle a chapter a week. Is that too slow? I will post a synopsis and my opinion every Monday (beginning March 5th) and then we can use that for discussion for the week. I’ve never done an online book club, if you have suggestions I’d love to hear them.

With that being said, I am going to begin my tracking so that by the end of March I’m ready to do a full month’s analysis. I’m sure it’s going to be pretty funky since I essentially have no steady income, but I’ve got to start somewhere, right?

While this downtime is a bit stressful, I’m fully utilizing it to get my head on straight and focus on some things I really need to master. For those of you who have read this particular book, do you have any other books you would recommend? I am excited to move through this journey of changing my money mindset and relationship.

 


Book Club: Your Money or Your Life

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A few weeks ago, a BAD reader I follow on Facebook posted a recommendation for the book Your Money or Your Life by Joe Dominguez and Vicki Robin.  It was originally published back in 1992 and Joe has passed away since then. But Vicki did an update in 2008 and then again in 2018 bringing the contents up to date in regards to the new world of technology and various different financial changes since the early 90’s.

I ordered it that day…I’m ready for some serious changes in my financial life. It arrived this past week and I’ve been slowly working my way through it.  I wondered if anyone else would like to read it and we could have a book club of sorts in a month or so to compare notes and thoughts.

A Slow Start

Mr. Money Mustache wrote the foreword. And then there is some background on Vicki and Joe’s history and the original concept for the book. While the information was interesting, I was anxious to get to the meat of the book. But the beginning of first chapter almost had me putting it down permanently. It is filled with references to the planet and limited resources and so on. And the longer that dragged on, the more I thought “this book is not for me.”  I stuck with it though. And I’ve made it to chapter 2 and I am intrigued.

My Relationship with Money

The authors encourage you to read the book through before you put in the work. The work is broken is broken down into 9 steps. I’m just getting to Step 2 in my reading. But what I am finding is that the book focuses on your thoughts on money, the psychology of that relationship versus more common “steps to save” money or such.  And I believe that this is exactly what I need.

I wrote recently about Money Principles and that has led me to more reading on Money Traps. The thing these two have in common is that they are mindset tools versus practical how to spend or not spend your money tools.  I think this mindset is what I personally have been missing.

Book Club Discussion – in a month

So here I am, sitting in Starbucks while my kids train for their sports, reading Your Money or Your Life. Will you join me?  I figure I can complete my first read through in the next week or so (helps to not have a job to do, plenty of reading time.) I’ll plan to open a discussion on it a month for now for anyone who wants to dive in with me.

I personally couldn’t find a online version of the book, but maybe someone else can. I ordered mine from Amazon.

Previous Book Club Posts

Your Money or Your Life Introduction

Chapter 1: What is Your Enough?

Chapter 2: What are you Trading Your Life Energy For?

Chapter 3: The Opposite of a Budget

Chapter 4: Coming Monday, May 21st


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