Your Money Or Your Life discussion thread starting in one week!

[catherine]

September 15 is the target date for beginning discussion of YMOYL by Vicki Robin and Joe Dominguez. It's a classic, and I'm looking forward to hearing everyone's thoughts and experiences with it!

Here are the nuts and bolts:


We'll discuss one chapter a week
Please read the first chapter, "The Money Trap: The Old Road Map for Money" BY September 15
I'll moderate, but by all means, let's keep it a free-flowing discussion!
You don't have to buy the newer edition. Many of us have our old copies, and that will be fine.
As you read the first chapter, jot down notes, or highlight passages that you think might make good points for discussion.
Drop-ins welcome!


Let me know if you have any questions!

[freshstart]

thanks for setting this up and moderating

[Tybee]

indeed, this is such a great idea! thank you

[catherine]

thanks for setting this up and moderating

You're welcome :)

BTW: Feel free to do Step 1, which is part of Chapter 1. Of course, no one will be expected to share personal financial information, but I might ask what, if anything, you learned from that exercise.

In anticipation of this group, I started Step 1, where you tally up ALL the money that's come into your life. and then you do a basic asset/liability balance sheet. it's really pretty interesting, considering I have four decades of work life to add up. I relied on the annual SS statement that comes in the mail, and then I thought back to large gifts, inheritances, etc.

I did NOT include my husband's earnings, even though it was a big part of our household income. Maybe I should.

[Tybee]

I think that is a great question for discussion in the first week!

[rosarugosa]

I would love to join in. Currently trying to locate my copy; I think I loaned it out.

[jp1]

I've actually never owned a copy, just borrowed it from the library a couple of times. Just reserved it. I should have it by saturday so I can get started!

[greenclaire]

Thank you for getting this started. Have downloaded the kindle version and will get reading this weekend :)

[Zoe Girl]

I hope I have time to join in, I am going back to basics on some financial things but having an expensive month

[ToomuchStuff]

You're welcome :)

BTW: Feel free to do Step 1, which is part of Chapter 1. Of course, no one will be expected to share personal financial information, but I might ask what, if anything, you learned from that exercise.

In anticipation of this group, I started Step 1, where you tally up ALL the money that's come into your life. and then you do a basic asset/liability balance sheet. it's really pretty interesting, considering I have four decades of work life to add up. I relied on the annual SS statement that comes in the mail, and then I thought back to large gifts, inheritances, etc.

I did NOT include my husband's earnings, even though it was a big part of our household income. Maybe I should.

You were the one that emphasized ALL the money that comes into your life.
I am hoping to restart this book, but I have spent four days under the weather, and am now getting back up and running. (so running behind)

[greenclaire]

Well I have spent some of today doing Step one. Some of it going back to jobs as a teenager were estimates as I have no records of what I actually earned. We don't have SS annual statements here to help! The last five years were more accurate as I have tax records from then. Anyway, all in all: depressing! Well it was depressing when I looked at the totals but then I reflected and thought about all the experiences that I have had on the way. I don't have many assets financially now - I rent a house, don't own a car, have no savings or investments BUT I have travelled extensively across four continents, spent time back and forth across the Atlantic Ocean etc Things that I have no financial gain from but I wouldn't change for any amount of extra money in a savings account now!

[catherine]

Well I have spent some of today doing Step one. Some of it going back to jobs as a teenager were estimates as I have no records of what I actually earned. We don't have SS annual statements here to help! The last five years were more accurate as I have tax records from then. Anyway, all in all: depressing! Well it was depressing when I looked at the totals but then I reflected and thought about all the experiences that I have had on the way. I don't have many assets financially now - I rent a house, don't own a car, have no savings or investments BUT I have travelled extensively across four continents, spent time back and forth across the Atlantic Ocean etc Things that I have no financial gain from but I wouldn't change for any amount of extra money in a savings account now!

That is EXACTLY the point of the program, greenclaire! To invest your life energy in high value ways. Good for you! You can go to the head of the class already! :)

[Tybee]

My new old book arrived yesterday afternoon. So we are doing chapter 1, right? So that includes what we have made in our life and our net worth, right? Sorry, just refamiliarizing myself with the book and the process.

Okay, my first realization here is that I am older than Joe was when he died. And in a very different place, financially and age wise, when I first did this exercise. Hmm.