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Post by violet on Aug 5, 2006 16:25:02 GMT 10
Has anyone else read this book, by Vicki Robins and Joe Dominiquez (both spelt incorrectly, I'm sure)? A friend lent me a copy around 10 years ago; I later bought it. It's a money book with a difference in that they discuss money as a tool, not an end in itself. Spending less is treated as an awareness issue. It's great reading, very interesting.
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Post by lucie on Aug 6, 2006 4:28:35 GMT 10
Yes, I read it many years ago...probably 10 years ago, also..and I loved it. It has been the begining for us to become dept free and financially free. We worked hard at it...we are dept free, but still not financially free...that's a more difiicult to attain and especially when you have 4 children living a t home. I loved the book, Violet. If you like we could have discussions about it...  |
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Post by braided-rug on Aug 6, 2006 11:14:42 GMT 10
I'll start.
What does financially free mean?
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Post by violet on Aug 6, 2006 13:44:18 GMT 10
Lucie, I'm finding that the kids are becoming our most expensive luxury as they get older. Yes, of course, they're worth more than money, but gosh the costs do keep rising.
Br, financially free in terms of the YMOYL book means not having to work for money. It means having enough money invested that you can live off the interest/earnings, plus having a set number of months living expenses readily available. Rather like our superannuation system here. The YMOYL authors are very conservative in their investment style.
The way to achieve financial freedom is to spend less than you earn, consistently, and save that money until you reach "crossover point" where the interest/earnings on your invested money is the same as your living expenses. They emphasise living in a way that keeps living expenses to a minumum, too.
The point of the exercise is to have more choices, whether it's to stay home and raise a family, or travel, or volunteer locally or overseas - living your beliefs.
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Post by braided-rug on Aug 6, 2006 14:05:42 GMT 10
Yes, I am all for that.
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Post by braided-rug on Aug 6, 2006 14:07:23 GMT 10
Lucie I was thinking I am so glad I live 1 1/2 hours from the good shops. However, then I remembered that one of my biggest consumers lives right next to a mall. On the whole though I am glad I don't live near them.
I am always amazed at why the brochures still make their way here though.
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