Summary of Your Money or Your Life

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Rating

8 Overall

9 Applicability

6 Innovation

8 Style

Recommendation

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?

In this summary, you will learn

  • How to become more aware of what your income and expenditures mean;
  • How to take nine steps to attain "financial independence"; and
  • How frugal living will add to your happiness and sense of freedom.
 

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.

 

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...

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