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Your Money or Your Life

Transforming Your Relationship with Money and Achieving Financial Independence

Joe Dominguez and Vicki Robin

Penguin, 1999
First Edition: 1992

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The old expectations about economic security, such as working for one company until you retire and then collecting a pension, no longer apply. However, you can use certain timeless common-sense principles and methods to make money matters comprehensible and to attain "financial independence." Joe Dominguez and Vicki Robin explain a nine-step approach to lowering your personal expenses and achieving a more manageable, pleasurable lifestyle that reflects your true values. getAbstract recommends this classic approach to getting a grip on your finances instead of being strangled by them. The bedrock of this program is coming to understand that you exchange your life for money. Now, doesn’t that bear closer scrutiny?

Summary

"The Money Trap: The Old Road Map for Money"

Fiscal security rests on having certain knowledge of how you are spending your life, not just your dollars. Financial independence means creating an income apart from your job, but it also means independence from old ideas and beliefs about how money works. Like most people, you probably believe that what you do for money has little to do with who you really are. It’s just a way to pay the bills.

Beyond depending on their jobs for income, people often derive their sense of self from their occupations. For many, work takes over, displacing time they once spent with their friends and family. Americans typically work more than 40 hours a week - add in commuting and job preparation time, and the week has few waking hours left for you to be a human being.

Despite longer hours on the job, most Americans haven’t saved much money. In fact, people now save less and are more in debt than ever. This way of life is debilitating, stressful, and hard on your health, relationships and family. And what are you working so hard to get? Well, usually to get more than you need to have. Consumerism destroys the earth, individual lives ...

About the Authors

Joe Dominguez and Vicki Robin both retired early and devoted their lives to explaining money issues to consumers. Over time they established The New Road Map Foundation to spread ideas about building a sustainable fiscal future.

Your Money or Your Life

Transforming Your Relationship with Money and Achieving Financial Independence

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"The Money Trap: The Old Road Map for Money"

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