As we continue with the Book Club, I love the comparison Vicki Robin makes in Chapter 3 of Your Money or Your Life between a person on a diet and money management. She references a book titled Diets Don’t Work! by Bob Schwartz. And specifically gives these rules for getting out of the diet mindset.
- Eat when you’re hungry.
- Eat exactly what your body wants.
- Eat each bite consciously.
- Stop when your body has had enough.
Essentially you must be aware of your needs and wants, knowing the difference and learning to listen to yourself.
The Same can be Said About Money
As we begin to go through the steps lined out in this book, we become very aware of our money triggers, our goals and eventually how we are spending our life energy. The key is to be aware of our spending habits over a long period of time.
This is where this book is different then other money mindsets. Rather than focusing on living by a strict budget, sometimes depriving yourself, you are aware of what you are trading your time for. You make conscious decisions that may result in pain during the adjustment period over time are freeing.
Breaking it Down
I love how they break down the Categories into Sub-Categories and then evaluate them based on the money spent as well as the life energy cost. That is eye opening to me. Using the formulas presented in this chapter really opened my eyes for how I’m using my time.
I am really glad I read the book in full before coming back through to work on each exercise. Taken individually, these steps are overwhelming and often confusing, but knowing the end goal has made a real difference for me.
What question would you most like to ask a friend about money? An expert? A relative?
What are your top priorities and how does your spending support them-or not?
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