Today I’m taking part in a “traveling book review” written by Rockstar Finance bloggers. Each day, a different blogger will review one chapter of one of the best money books I’ve ever read, Your Money or Your Life. Written by Vicki Robin and Joe Dominguez, Vicki’s original coauthor who’s since died, the updated version contains timeless wisdom and current, practical tips for anyone working to make sense of their finances, their work/life balance, and life in general.
If you’d like to read reviews for each chapter, I recommend reading Rockstar Finance’s introduction post with links to reviews of each chapter.
The American Dream–on a Shoestring
Chapter 6 is perhaps the most relevant chapter to my life of the entire book. “Laurie,” it seemed to be saying to me the whole time, “read these words and internalize this message: if you want to achieve true freedom, you must learn to control your spending.”
A few years ago, I would have scoffed at this notion. “As if,” I can hear old me saying,”I’m going to earn more and buy whatever I want.”
This would be a terrific strategy if it worked–if it allowed me to increase my net worth, say, or even my happiness. Then we could get all the stuff we wanted just by working harder, and that would make us happier, and we’d all live happily ever after. All the millionaires and multi-millionaires would never declare bankruptcy or feel sad. Hollywood stars, paid millions per film, would never divorce or go through public scandals.
Unfortunately, life doesn’t work that way. As Robin wisely and gently explains, more stuff doesn’t necessarily bring more happiness. Especially once you’ve got your basic needs met. Continue reading “Your Money Or Your Life: Chapter 6 (Traveling Book Review)”