Thrashing Stinks

I’m only 28 pages into Your Money or Your Life, but so far it’s fantastic. I can’t wait to get back to it and that’s awful strange to say about a finance book. If you’re like me, you’re truly skeptical of books like these, but do yourself a favor the next time you’re in Borders and read from the end of the Prologue onward as far as you can. Sure, there’s some of it I can’t relate to so far (like spending more than I bring in), but that’s expected.

Based on their West Coast self-help seminars, Dominguez and Robin here map a route to financial security through a relaxed, prudent and environmentally-friendly way of life. Systemically analyzing one’s overspending, as in the case histories cited, and calculating the “life-energy” cost (time, expenses, stress) of a competitive career, the authors maintain, can lead to reduced occupational expectations and to surprisingly large economies effected by pre-pricing food, clothing, transportation, loan rates, heath care and so on. Resulting surpluses, invested in Treasury bonds, will yield compound income eventually covering the reduced expenses. This “crossover point” brings financial independence, according to the authors, and freedom to choose one’s work for greater personal satisfaction and the “commonweal.” Some readers may be put off by the finicky detail and intense tone of the course, but few will fail to find here new insight and encouragement.