Book Review: Your Money or Your Life

If you’re looking for a full financial makeover, you’ve just found your inspiration. Vicki Robin, co-author of Your Money or Your Life, is also known as the mother of the FI (Financial Independence) life. She is a talented writer and a renaissance woman in her own right. I was interested in reading her book after hearing her podcast interview with Paula Pant. Though the book was originally published in the 90’s, a fully revised edition was released earlier this year.

Favorite Points

This is a great book if you’re looking for a guide to help you really examine your life and your finances. The book includes lots of thought provoking exercises and insights around leading an intentional life and being intentional with your money. It prompts you to go through your beliefs around money with a fine-tooth comb, and includes a lot of advice and guidance for doing so. One such nugget of wisdom is the mantra “no shame, no blame.” Vicki brings this up when asking us to examine our financial pasts. This is very important advice for anyone trying to remake their financial life. We can’t change our financial pasts, but Your Money or Your Life Book Review: At Peace With Moneywe don’t need to stew and feel bad about them. The best thing we can do is move on and take action to enhance our financial futures. This mantra helps us remember that instead of being distracted by our past mistakes, we should look forward and act now. 

Included above is another nugget of wisdom. The chart indicates the sweet spot our finances can allow us to live in without letting our jobs and our need for income control us. This is marked by the top of the chart labeled “enough.” The writers explain that to achieve FI, we need to find our own “enough” zone, a place where our financial needs are sustainable and satisfying. In our culture of material excess, this is a very profound point. This insight alone can easily revolutionize your financial outlook!

I definitely recommend taking a good deal of time to read this book and do the steps. It is chock-full of information. Especially if you’re new to the world of FI, each chapter takes a while to absorb. Don’t let that intimidate you! With serious commitment, this book can change your financial life. If it sounds intriguing, please check it out. I also recommend having a look at the book’s website, it includes a lot of other helpful tools and resources if you want to get started!

Angela

Image Sources: Free in Ten Years, Your Money or Your Life

Book Review: The One Thing

At Peace With Money: Book Review: The-One-ThingThis summer, I read The One Thing by Gary Keller (no relation), and my initial reaction was irritation. Essentially, the book advises us to focus on one big goal that you want to accomplish and then break that goal down into smaller time chunks.The goal is to do something small to work toward that goal every day. The key is focusing. That’s probably why it irritated me.

Staying focused is definitely something that I struggle with. As a business owner, as a wife and mother, as a person in today’s world of distracting gadgets – focusing is difficult!  It seems there is always a fire to put out, a need to be met. Always there is an idea that is nibbling your brain, or a rabbit hole to dive into and lose 45 minutes of your life. My reaction was about something I need to work on in myself rather than the idea the author presents.  

He also suggests scheduling that focused time into your calendar and protecting it – another challenge for me. On top of that, he debunks the idea of multi-tasking. This felt blasphemous to me at first. What mother do you know who does not pride herself on juggling multiple balls in the air on a daily basis!?! It seemed to me that Gary Keller was basically trying topull the rug out from under my life! This book made me so angry that I had to take a few months to calm down enough to even write this review.

Practical Applications

But somehow, this morning I woke up thinking about this book again. A practical example to apply his basic techniques popped into my mind. Let’s say you want to save $30,000 to buy a house over the next 5 years. That sounds like a lot of money to save and a crazy goal! But if we break it down to saving $6,000 this year and saving $500 each month which means saving about $17 each day, it becomes manageable. To reach this goal, we ask, what’s the one thing we can do today to get that started? Perhaps you open the savings account. Maybe you start a side hustle and allocate all the income to that goal. You might start saving your cash in a money jar to deposit at month end. Maybe you resolve to pack your lunch.

The One Thing Book Review: At Peace With MoneyWhat’s important is getting started by taking some action today to make the goals you have for your future turn into a reality.  That is a lesson I can take from this book.

I might have to work on my focus, and reexamine my views on multitasking. However, I do feel I stand behind the ultimate message of this book: get clear on your goal, focus on it, and work towards it every day. If you do that, you will achieve what you’re after. Whether that’s saving for a house or starting a business, this is an important reminder in how we approach our financial goals. If you need an accountability partner to help you get started, please feel free to reach out.  I would love to help you reach your goals (and I promise not to forbid you from multitasking!)

 

Angela

Image Sources: Squidhub, Bonehead Business

Book Review: Steal Like an Artist

Steal Like an Artist Book Review: At Peace With MoneyThere are so many good books out there that could benefit solopreneurs and people looking to educate themselves about personal finance. I’m an avid reader myself, and lately I’ve been devouring books on the subjects of small business, finance, and retirement. I thought it may be useful to you all to hear about my reading discoveries, so I’m sharing a book review of one of my most recent reads, Steal Like an Artist by Austin Kleon. 

The Read

This is an easy read. It gets straight to the point while offering up entertaining anecdotes and doodles. It starts off with the premise that creativity is something everyone has, and that the advice contained in the books can be applied to a number of professions. Personally, I believe this is great reading material for any business owner, not just creative types. After reading, I found myself thinking creatively about my own business. 

Just Start

Kleon’s points are inspiring and motivating. One of my favorites: don’t wait until you know everything, just get started. This advice applies to business so well, and is something I’ve touched on in my writing about starting a business. Feeling the need to have everything planned or figured out can often stop solopreneurs in their tracks. Kleon encourages readers to not let this stop you, and to take up a mindset of learning as you go.

Digital Vs. Analog

Kleon also writes about how he divides his desk into digital and analog tasks and materials. He goes back and forth between the two modes very intentionally. Even if you aren’t an artist working with your hands, it is important to get away from your computer. Our brains respond differently to physical and embodied tasks. If you give your brain and body different surroundings, it is likely you will free up new ideas and insights. My favorite way to get the creative juices flowing is to take a walk through the woods with my dogevery morning. On the walk, I notice if I am not listening to podcasts or messing with my phone, I tend to come up with a lot of ideas at this time. Getting away from digital distractors is an equally important piece of the creative process.

I hope some of you are inspired to give this book a read. I definitely found it inspiring and encouraging for my own inner solopreneur!

Angela

Image Source: Austin Kleon