By: Joe Dominguez and Vicki Robin
When this book first came onto my radar as a book I might like to read, it was with reviews from my fellow personal finance bloggers that described it as one that will change your life, and that will make your finances follow you rather than the other way around. Both of those descriptions are pretty accurate.
For someone like myself, who’s been writing on personal finance for over 5 years (Beating Broke turns 4 next month!), I’ve seen just about every bit of advice and every bit of financial knowledge that there is out there. Or, at least I think I have. Then something like this book comes along and puts it all together in a different way, or expresses it in a slightly different way, and I learn something new.
So, here’s the short review. If you find yourself struggling with your money, and with how your money and your life can meet, this is most certainly a book for you. It’s not your typical personal finance book that’s going to tell you how to balance your checkbook, what to spend on (and what not to), or anything of the sort. What it is going to do is give you the tools to tracking what you’re spending your money on and then coming to terms with whether those spending habits are habits that are putting you on a track towards a much more fulfilled life. They go a bit further than that, and get into how you can take your reformed spending habits, track them, and then turn your life into something that you want it to be, that uses money as a tool to further your life-long goals rather than postpone them.
It’s not just a book for those that are struggling with money, either. I found several small things that I’ll be working on implementing over the next few months that I hope will bring my finances into further alignment with goals and ambitions that have little to do with work, or money.
Have you read it? What was your reaction? Did you follow it’s steps, and how did they help (or not) you?
I started this blog to share what I know and what I was learning about personal finance. Along the way I’ve met and found many blogging friends. Please feel free to connect with me on the Beating Broke accounts: Twitter and Facebook.
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This is my favorite personal finance book and the one that got me really interested in personal finance. I read it when it first came out back in the early 90’s. If I had followed the book carefully I’d be financially independent by now. It has allowed me to live fairly well for my meager income. This post reminds me that I should read the book again.
I’ll have to check out this book. I constantly have a personal finance book on the go – reading 30min every night before bed. I’m always looking for the next one! =)
Sounds like a great book! Thanks so much for the review. I like when a book can take personal finance education to the next level, or really beneath the surface level. It’s so often less of a practical knowledge issue than it is a deeper heart and mind issue.
@Andy I think I must have gotten the same copy! lol. The copy I read was one of the first few printings of the book. I do kind of wish I had gotten a bit more updated version, but I think the idea came across just fine either way.
@Julie I’ve almost always got 1 or 2 (or 3) books going at a time. Usually try to have one non-fiction and one fiction to keep my mind guessing whether it was the wizards and goblins that were attacking the castle, or if it was the budget sheets…
@impulsesave It was! If personal finance was merely a practical knowledge issue, there would be a whole lot less people with money problems.
I’ve heard a lot of good things about this one, but haven’t picked it up yet. I’m all for books that get more into changing habits and lifestyle.