I have YMOYL on hold at the library… hopefully I get it soon… One of the things I did during my blogging break was catch up on some reading. As Mr. Money Mustache notes in his foreword, the root of your … The only chart that we have up right now is the balance on the next credit card we have targeted to pay off – following a modified snowball method. I just recently started using Personal Capital. Northern Expenditure is for informational and entertainment purposes only. Start off with 150 Swagbucks and earn Amazon gift cards (this is how we purchase Christmas presents). Sorry, your blog cannot share posts by email. Your Money or Your Life - Micro MOOC: Welcome; Overview of the Program Nine Steps > > > > > > > > > > > > Life Income Worksheet. I wasn’t sure if I wanted to buy it but then I read this post! My mom has been tracking every penny my parents spend since 1970, so I grew up with this concept. I LOVE the spreadsheet (PS -I’m sad you’ve stopped blogging. Yes! So I got a piece of graph paper and stuck it on the wall over my desk. How much of your life energy you are using to pay for things that may or may not bring fulfillment. For more than twenty-five years, Your Money or Your Life has been considered the go-to book for taking back your life by changing your relationship with money. We bought a new house in March 2020. Your Money or Your Life is not a book about managing money. But one concept that really resonated with me in YMOYL was the idea of a wall chart. Track for one month every penny that you spend. It’s so simple, so profound, and so awesome. The goal is to find and have “enough” (and then some) rather than always seeking “more”. But either way, whether you read the book or the Cliff Notes, it’s got a lot of good ideas and inspiration packed into it. I read Your Money or Your Life after reading The Overspent American, and realizing I needed serious help. A large part of the program involves creating a chart. Sticking with the … Totally playing around with this over the weekend! This means when you sign up or purchase things through our links, we are often compensated financially at no cost to you. Subscribe . Hundreds of thousands of people have followed this nine-step program, learning to live more deliberately and meaningfully with Vicki Robin’s guidance. July was a tough month, as we made a trip to Costco in June that was on July’s credit card bill, and also paid our annual homeowners insurance policy (which went up about 25% over last year because there have been so many claims… yikes!). Powered by WordPress & Theme by Anders Norén. Value life energy by minimizing spending. Hundreds of thousands of people have followed this nine-step program, learning to live more deliberately and meaningfully with Vicki Robin’s guidance. Once you have changed the nature and function of your interaction with money, through following the steps in this book, your relationship with money will be transformed. Should you start if your monthly investment income is nothing? It will guide you towards financially independent thinking, coach you on financial intelligence, and give you some motivation for financial integrity. In this book, the authors present a nine-step process for achieving financial independence. And you’re going to love the book! So we’re able to save a large chunk of what we earn each month, and we’re both on board with how important – and satisfying – that is. We have plenty of “wants” that we spend money on these days, and the wall chart is a handy reminder to pull back on unnecessary spending and focus on long-term goals. 1:11:47. I've repaired my awful credit, de-cluttered, bought a house, and I've learned what This fully revised and updated edition with a foreword by "the Frugal Guru" Upcoming Events. I’ve been tracking monthly savings v. 4% income. We’ve definitely loosened our purse strings a bit over the last few years, and our pennies no longer squeal from all the pinching, but our frugal habits aren’t going anywhere. I couldn't figure out why it was so darned hard to make the rent! Get your chart up! Microsoft Research Recommended for you. Isn’t it a great one?! Here’s to an awesome school year, and to all the other mamas and papas out there getting their little ones ready for it! I’m not charting expenses – just after-tax income and savings, along with dividend/interest income (expenses are pretty obvious from the chart, since the difference between income and savings is our expenses each month). The vertical axis represents money. Early retirees should probably plan for a lower rate than 4%. ), Retiring Early? They describe taking a big piece of paper, sticking it on the wall, and charting your spending and your income over time. For hand-made charts, use graph paper (at least 18”x22”) with 10 squares per centimeter or inch. You don’t seem to really get that with Personal Capital. What I need to be tracking is monthly EXPENSES v. 4% income. The book, Your Money or Your Life. I haven’t read the book yet, but it’s somethings I’ve been meaning to do. The goal is to get the savings dot as close to the income dot as possible, using our SALAP strategy. Want weekly emails with EXCLUSIVE content? Seek out a child-rearing professional before attempting any child-rearing. I finally read Your Money or Your Life… I know, I’ve been blogging about frugal living since 2006 and I’d never read that book?! We currently have about 40 boxes between our expenses and our monthly investment income, but the chart is a huge motivator for closing that gap! Ah, it is very similar. One thought is that the 4% SWR was established for a 30 year retirement horizon. I just finished YMOYL a week or two ago! I believe that spreadsheets win out for me because of the hands on approach of tracking all expenses. The authors were early retirees before there were early retiree blogs all over the place (or an internet, for that matter), and their philosophies on life will likely ring true with a lot of my frugal readers. So far, so good. Step 5. Buy The Book Subscribe to Blog via Email. "The seminal guide to the new morality of personal money management" ( Los Angeles Times (on the first edition)) In an age of great economic uncertainty when everyone is concerned about money and how they spend what they have, this new edition of the bestselling Your Money or Your Life is … 3. Your Money or Your Life is even more relevant today than it was when the book first hit the stands, and a great publicity campaign will bring this … For example, if you make $5000 a month and work 160 hours a month, your hourly income is $31.25. Seek out a financial professional before making a financial decision. This work requires rigor, honesty and a radical willingness to change. This site uses Akismet to reduce spam. Loving it! You pay for money with your time. Email Address . We did not read the book, but I chart something similar on my blog. You even get a welcome bonus. Step Two: Using felt pens, Sharpies, or any other writing utensils, as well as stickers or Post-It notes, fill in your name, birth date, and the subsequent decades of your life. Raise is where I buy all my discounted gift cards to save money on my basic shopping! Our income has grown considerably over the last decade, but our expenses haven’t increased much at all, especially when you account for the fact that we have two additional family members now. So go! But I’ve never stuck with it, and I’m ok with that (we put everything on one credit card and pay it off at the end of the month, so the credit card statement provides a pretty good tracking tool if we need it). I do track my monthly savings – the money I put towards savings monthly, but not the the total monthly savings in my account. It is super motivating to see all the numbers! I was talking with my husband about it, and he agrees we don’t really need to track our spending, because our strategy is SALAP… Spend As Little As Possible :-) Since we’ve made that a habit for many years, it’s second nature now. Learn why having a budget is so important here. His best friend is in his class again this year, along with several other really great kids from his kindergarten class. Greetings from my dusty little corner of the internet! I think a wall chart might be fun! I currently have graphs for items 1, 2 & 4 but investing is still something I have to push myself to commit to. I’m sure a lot of you have read YMOYL, probably many years before I did. Divide the hours into your salary. New customers can save $5 off orders $75+ with code RAISE75AF through this link. My husband’s family was here for a couple weeks as well… great to see everyone, but not conducive to getting stuff done! You’ll have to add your own lines for debt and amount saved. I kept a chart on my wall for a few years alongside the spreadsheet I was running, but I got lazy and now I just keep the spreadsheet (to be fair it’s on my phone so I can see it anywhere!). Our son was so excited this evening that he almost couldn’t fall asleep. No matter what you think money is, there’s one truth about money that applies to everyone: Money is something you trade your life energy for. Almost all of the money we save from our take-home pay goes into a taxable account now, although we’re continuing to max out the SEP-IRAs because we aren’t convinced that we should focus solely on saving for an early retirement… we certainly want to retire well ahead of the traditional schedule, but it will be nice to have a financial buffer that kicks in once we reach our mid-60s. Well, this how to budget money saving chart is here to help. Our son picked our his outfit this evening: shorts and a cool shirt that I got at a garage sale last weekend for 50 cents each. Maybe that can be my project this weekend. I call it the amber index. Not without any motives, as there's a growing demand for such a format that is universal to allow folks to share their thoughts and work on the internet. That’s true. Your Money or Your Life de Vicki Robin et Joe Dominguez est un livre à lire absolument si vous vous intéressez de près à la gestion de vos finances personnelles. And I’ve dabbled with it several times as an adult. I like that Personal Capital updates all of my accounts in one place, but as far as playing with future numbers, Excel is the way to go. Before that it was all spreadsheets. August is looking better in terms of percentage saved (about 55%), but I really want to see September be over 60%, and my handy wall chart is a great inspiration. I love it – It’s more more satisfying to get out the markers at the end of the month and plot the points than let Excel generate it for me. I like the wall idea too! I like it! You will ideally want to find a spot where you can easily access it to update anytime with events as you recall them. The purpose of this book is to transform your relationship with money. Not bad… $1.50 for the whole back-to-school outfit! . Enter your email address to subscribe to this blog and receive notifications of new posts by email. It’s really the best book for anyone, like you say! I love the idea of a visual reminder of how our savings are coming along. It’s fabulous. Found on Fiscal Fitness . Visibility helps keep you on track because you can’t hide from it! But school starts tomorrow, so we’re back to getting up early and juggling the school schedule into our days. When the line actually gets closer to our expenses line, we can figure out more details. Charting savings is a lot more fun though – if you’re still in the debt phase, keep going, because it gets even better! Use the space below to begin listing your assets and liabilities. There’s also a nearly-new pair of shoes that were also 50 cents. I’m happier that way, and there is no temptation for us to start spending money willy-nilly. Monthly savings does me no good in this equation. We save at least 50% of our take-home pay each month, and our corporation also puts funds into our SEP-IRAs totalling 25% of our salaries (technically, our company contributes that money, but since we’re the sole owners/employees of the company, our paychecks would just be higher if we didn’t have the employer retirement fund). And well done on your progress! Apologies for the blogging hiatus – it’s been a busy summer. is said to have introduced the term “Financial Independence” and offers a very specific road map for achieving it. We use it as an initial benchmark. The purpose of Your Money or Your Life is to transform your relationship with money. I’m thinking that one of these charts would be helpful too – we’re paying down other debt, increasing our income, and decreasing our expenses. Maybe we’ll make one too, after all! Plot out the next 5 years. This empties as we pay our mortgage down. You're getting us that much closer to early retirement! In times like these, it's more important than ever to know the difference between making a living and making a life. This site has affiliate links and advertisements. … though it has been fun to see such high numbers on my savings chart . Love the book (and the title captures it all). And also fitting in plenty of work time while our older son is in school. At the end of each month, use dots It’s a book about transforming your relationship with money.. Vicki and Joe start by examining the concept of money: Material: Money is cash, credit cards, the stuff of daily transactions. August 18, 2014 By Frugal Babe. The basic (and genius!) No matter how much money we’re able to put into savings each month, I will still buy back-to-school clothes at garage sales, and search Craigslist when our son needs a desk to do his homework. I love that you have the actual paper chart. You Need a Budget: The Proven System for Breaking the Paycheck-to-Paycheck Cycle, Getting Out of Debt, and Living the Life You Want . It would probably be motivating to track all of those numbers on a regular basis too. Your Money or Your Life will help you create your own financial road map, if you don’t know where to start. Make your chart and then come back and tell me your favorite part about it! Right now, I only have our numbers in Excel but love the idea of having the chart in a highly visible spot. To put it differently, you can store, transmit and exchange data with any other computer user using the system with different configurations. . You will LOVE IT. 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