Made me rethink the impact of work and money in my life. ( )

Something made me pick up this book, maybe it was because a frugal friend asked how much was my monthly housing cost, I gave her what I thought was a pretty low number, esp for the expensive city I lived in. She tallied up the total over 20 years and it was a huge sum. I shrugged it off, said there was no way to get around spending that much, as long as we lived in the city, or was there? The book breaks down a lot of assumptions and lies we tell ourselves about how much we need to spend, and how much we need to make to have money to spend, and of course we needed a job to sustain all this, even if the job itself created little fulfillment for us and made us spend more money simply to "decompress" and "get away" from the stress. Amazon has some detailed and thorough reviews from other enlightened readers, check them out and get the book -- from the library. ( )

I will wait to rate this book until after I've taken the time to do some of the steps to see how well they work for me and my family. The book takes a very interesting approach to the subject of managing money and aligning it to your life goals and values. I am going to try to implement steps 1-8 in earnest (I agree with previous reviewers that the steps on investing are too conservative and more a matter of personal choice).

I found the "preachiness" of the book very irritating. I am all in favor of examining how to live a more value-driven life, but the authors spend too much time proselytizing THEIR values and THEIR definition of how to live a financially independent life. I found myself skimming whole sections that had nothing to do with the steps and everything to do with their personal views. I should note, too, that I am a committed environmentalist, so if I found it went overboard, I can only imagine how off-putting it would be to someone less focused on those issues.

In spite of the preachy tone, I am glad I read the book and will edit my review after I am able to assess the effectiveness of the steps.

An important book for people seeking/wanting life-balance. And, most especially, for people whose high-paying jobs are consuming their lives - leaving them exhausted and empty. ( )

Excellent book on comparing the value of your time (working) with the value of money (the results of work) with the value of your future time (retirement).

The -.5 stars is for the final chapters, which focuses on 100% bond investments (a very conservative method of investing). I've seen this book recommended all over the internet, and everyone (including myself) says "Read this book, ignore the ending when he starts talking about how to invest".

Anyway, great book for anyone interested (or trying to convince someone else) of simplifying their life. ( )

I bought this book several years ago and have read it off and on since then. Simplifying my life has always been one of those back burner desires for years. I have always wondered if there was an answer to the commercialized rat race we call Life in These United States. This book talks about this directly. It is a seven step process whereby you really dig into your life and determine just how much is enough. It attempts to change the way you look at money and working. Instead of living to work, it proposes working to live. They maintain that if you follow the steps, you will be able to determine just how much is enough and then be able to become financially independent to the point of not having to work. How long it takes depends on a couple factors (namely how much you earn, how deep in debt you are and just how much is enough), but several instances in the book talk about being financially independent in 5 - 10 years. They not only cover how to get out of debt, but how to set up your finances so it generates guaranteed income to support your life once you reach independence.

So why did it take me so long to finish the book? Quite honestly, I believe I had to digest it. A lot. I had to really examine my life and decide just what I want and that process has taken me years. I don't believe it was until I lost my job that it came more into focus. As I begin to attempt to figure out what I really want in a job, it has forced me to really evaluate what I liked and disliked in my previous jobs. It also has caused me to look at how I do spend money. Has it been a life changing moment, forever to be frugal? Probably not. I'm human after all and there isn't a tool made I wouldn't like to get to know. But it definitely is helping me make sure I don't make some of the same mistakes again.

The authors do espouse certain beliefs and occasionally get a little quasi-religious in their zeal, but for the most part the concepts are sound and important. I have to admit I had found it impossible to believe that someone could be financially independent in this age without the wealth of Bill Gates, but after getting to the last couple chapters, I am beginning to believe that it is not only possible, but probable for anyone who really wants to accomplish the feat. Denise is reading the book now and then we will discuss what we want to do and how it will effect our lives. Interesting book. Highly recommended only if you are fed up with the world and wonder if there is more. ( )

Good points in book, although focus on treasury bonds may be too conservative. ( )

A great book on living a purposeful life rather than one ruled by money. ( )

I tried to follow this books recommendations for a while... having family members sure complicates things...
I'd like to try it again sometime, though.

Summary: A 10-step program to create a new way of thinking about money and spending that is counter to mainstream idea of biggering and biggering and BIGGERING your money. To have more money, both make more and spend less. Figure out how much you really have in total assets, drawer by drawer, and where your money is going, penny by penny. Figure out how much you really need to live on, and if your spending and saving are in line with your values.
Review: I'd call this one of the most practical and useful books of the voluntary simplicity movement, even though some of the financial information is not as relevant as it used to be (8% interest rates on treasury bonds? ha!). It really opened my eyes about making real choices on my spending and seeing how little things (a cookie here, a cafeteria lunch there) make a big difference. And how the stress of working costs more in time, energy, and money than I used to think. I'm not FI yet, but my husband and I did take a year-and-a-half off to be with our young kids and we hope to inch our way toward FI still.

Of all the "self help" financial books published, this one stands out. It takes you (at your speed) from wherever you are in life (financially), to the point of not having to work for money again.

At times a bit dry to read, but stick with it. If I had to suggest but one single book re.: personal finances, this is the one. It works 100 %, if you work it.
Aaron ( )

http://community.livejournal.com/50bo... ( )

By definition it seems all books written on personal finance are as inspiring as reading the phone book only spiced up a bit with neat little graphs and pie charts. However, what this book does is take a step back from the usual sermon about compound interest, dollar cost averaging, putting ten percent away, (you are getting board already, aren’t you?) and address the cost of money as well as the value of money. More than a financial book this is more of a practical philosophy book that considers quality of life as much as net worth. I would recommend you buy this book, but as a practical consideration, if you are trying to control spending, a trip to the library may prove wiser. ( )

If you are having trouble with spending I highly recommend this book. While the writing is a little drawn out at times the ideas are fantastic. Both practical money saving ideas and some great philosophical ideas about what’s really important in life. Even though I was not in debt I wanted to save more for a career change. Following his advice over a two year period I was able to quite my job and go back to school. This is my top personal finance book. ( )

This book provides some really great tips on getting your finances under control. I think anybody can gain something from reading this book, no matter what your situation is. ( )

A classic guide to simplifying your financial life and spending your money as you should. The book is not about telling you specifically what to spend your money on but getting you to focus on buying only the things that truly bring you happiness. The primary gain that I took from the book was the habit of truly thinking before I buy.

It requires a bit of homework so be prepared. My approach has been to read it once for the general idea and then to re-read if I believe in the approach enough to invest the time in the exercises. I'm about to read it for the second time in a week or so (and doing the work). I've already asked my wife and a couple of friends to read it and I'll encourage others as well.

My only beef (no pun intended) is that the book gets a bit heavy on "green" living/treehugging at times. I suppose this is closely bound to simplification being the core of the book. While I don't consider myself numb to the world around me, I'm not drumming up donations for Greenpeace either. It's this component of the book that keeps this one at 4.5 stars instead of 5.

HIGHLY RECOMMENDED. ( )

I've read this book many times, and always get something new from it. It's the book I always recommend to anyone learning about or struggling with finances.

This is a great book. The program requires some homework on your part - I've chosen to read through the book and then go back and follow all the step listed to really get going. The main idea is to live within your means by determining what is truly important in your life. Maybe your current job is standing between you and fulfillment.