Your Money Or Your Life- Book Summary
In the introduction part of Your Money Or Your Life the authors start by saying that saving is the true freedom, savings means freedom from debt, freedom to leave your job when your boss graduate to a boss hole or benefits have just been yanked, freedom to own land or business without you borrowing, freedom to keep your house and car in case of a job loss.
When it comes to income this book helps you to get out of the competition game and shows you how to focus on what makes life better. You shift from more mentality to enough mentality; you end up with more of what money can’t buy.
“More Is Better” is no longer the name of the road to happiness.
What it comes to debt this book helps you to realize that there are many benefits of rejecting a lifestyle of hyper-consumption which means you end up with less stress and more happiness. The point is to embrace living below your mean. It will help you also to get out of humongous debt much faster.
Financial Intelligence is getting out of debt and having at least six months of basic living expenses in the bank.
What it comes to a job this book teaches you a different perspective on employment, one that opens up far wider possibilities for income, security, and providing for your needs. Your job becomes an important part of your life, but no longer the centerpiece and biggest robber of your time.
THE MONEY TRAP: THE OLD ROAD MAP FOR MONEY
MONEY: THE TENDER TRAP?
Since we hate our job the authors of Your Money Or Your Life says that we’re no longer making a living from our jobs but we are actually ‘making a dying’ we are killing our health, sense of joy our relationships for our jobs. We are sacrificing our lives for money, and it happening at snail’s pace that we are oblivious to it. We fetch much value from our job that we are giving mundane occupation title to elevate our status and we have allowed our paycheck to determine how much we are worth.
Most people are tied to their nine-to-five jobs by lack of savings and debt ranging from mortgage, car, credit card et al. Saving can’t be minimized and people who ignore this sooner or later find themselves sleeping in cars or streets.
After making a dying at work an average consumer spends income on the weekend, buying stuff to satisfy their fantasies. The authors of Your Money Or Your Life say that people don’t work to pay bills but to pay for things they need not which send them to work only to get more stuff because they have an identity to maintain.
The amount of money you need to be happy is always more than you have now, in short, more money doesn’t make anyone happier.
Thinking more is better is pervasive consumer myth. The truth is the more we have the more we want and the less content we are. Reason being there are more things out there to go for. There are people who have more than we have, and there are better, prestigious things created every day that is why we trade cars after few years, buy new designer clothes, and new gadgets.