book chat - money, money, money

Happy New Year! As promised, here are the two books that changed how I deal with my money. 

Your Money or Your Life by Joe Dominguez and Vicki Robin, originally Published September 1st 1992 by Viking Press (there have been a couple updates since)

I've been budgeting in a real way for a few years now - using Dave Ramsey's baby steps (from the book below) to get out of debt, save up an emergency fund and know where my money is going. So, I already spend less than I make, regularly save and put money away for retirement. And I've broken out of the habit of working myself to death, instead valuing my time more than earning more money. So why read this book? To take a more in depth look at where my money is still going and whether or not I need to make more changes. Dave focuses more on cutting costs, while this book may have you actually increasing spending in certain areas while cutting back on others. Sure, I stay within my budget each month, but I'm still buying things I don't need (as evidenced by my current decluttering and the amount of stuff I'm happily donating). Asking myself the three questions suggested of each purchase will help me determine before I buy if the purchase aligns with my values, my future plans and if I'm getting the satisfaction/value commensurate with my life energy cost. With a new month looming, I'll be doing some extra tracking and paying more attention why and on what I'm spending. I'm already thinking differently about some of my regular purchases... The ultimate goal of course being financial independence. Who doesn't want working for money to be optional?

The Total Money Makeover by Dave Ramsey, Published February 1st 2007 by Nelson Books (first published 2003) 

Excellent, old-fashioned money advice. Set a budget, spend less than you make, save for emergencies/retirement, don't go into debt. Simple, right? But so many of us don't follow this advice and need a reminder. =) This plan really does work if you follow it!

Both of these books have been around for a good long while (for good reason). Both have been updated in recent years. If, however, you are looking to keep costs down, check your local library! Or look for a secondhand copy in a local store or online. While the older versions won't have the updates, the basics haven't changed.