Are there folks out there just starting the YMOYL 9 Steps program? Or others who have completed the steps but are willing to share their experiences with the newbies? I read YMOYL 7 years ago, but got side-tracked from fully implementing the steps by a very consuming job (yes, I know, ironic). I am starting fresh and would like some company on the journey! LeeLee, I think you were starting recently?
Last edited by EarthSky; 2-24-11 at 1:02pm. Reason: typos
I'm definitely interested in re-reading the book and jumpstarting the program again. BUT I have to admit I'm so flustered by the first step--inventory taking. I did this previously, do you think I'd have to re-do it all again? I didn't like it--I guessed a LOT and was very down on myself afterwards. If I can avoid this step I'd be interested in re-starting YMOL. Do you have a new copy of the book? I'm wondering if I should get a newer version...
The newer version does have some updated information, but the basic principals and steps are the same - so I think it's up to you whether you get the newer version.
I got stuck in the step 1 before also. If you still have the inventory, I'm thinking you don't need to repeat that? Or perhaps do a brief update of what you have already done (removing and adding significant items?)
Hmmm, that's a good idea. I'll have to see if I can find it. I know I had kept it for awhile--hopefully it's still around somewhere! How should we proceed? Any others out there interested????
Been a while since I read the book, so I googled to see what's involved.
Find out how much money you have earned in your lifetime That statement Social Security sends out does that right quick. The first time I got one years ago it said I had earned almost $100k. My first question was where's my $100k? Where's even $10k? $1k? It was the spark that lit the fuse of more intense saving. Really makes you stop and think about how you are managing the flow of money through your life.
The step of calculating your net worth tells you how much of that flow has been corralled for your future benefit. I've been calculating net worth for a couple of decades, every year or so. This is a mostly intangible asset thing (except the car and condo). The tangibles are in the inventory:
I have an inventory in Excel. It started years ago when I briefly had contents insurance. Then I expanded it for YMOL step 1. I've been keeping it up (yes, I have very little else to do with my time, lol!) partly to remind me how well-off I am in physical goods, partly to let me know my progress in living more simply. Recently I added a column each for counting up how many things I own that require electricity or batteries. It was interesting to learn that although I live in a tiny efficiency condo, I have 27 things that use electricity and 7 that need batteries. That's a lot of technology for one room. My personal take on material goods is that I want the things I own to be realistic: things I actually use or love. Not distracting excess that I might need or used to like.
IIRC, the purpose of tallying up the money and money-stored-as-goods in your life is to light that spark of taking conscious control of the fruits of your labor.
A thought on the inventory - if it's a thing you don't really enjoy, you'd probably get most of the intended benefit by starting with big ticket items, and dealing with the finer details later.
I agree with just using the social security statements ... granted it doesn't include stuff like cash-based work, gifts, etc. but it should get you "close enough".
I have been meaning to post on this thread for a while. I started the steps of YMOYL in 2004 and have approached it with varying degrees of intensity since then. I never completed step 1a, the figuring out how much you've earned in your life part, but did a pretty thorough calculation of my net worth (1b). I didn't probably do it to the level suggested in the book, but it was a MAJOR eye-opener for me in terms of just how much crap I had. I think that's where the power lies. An earnest attempt is going to produce good results, or at least it did for me. I didn't need to finish it to see that I had waaaaaaay too much stuff and that it was bogging me down and that lots of my life energy had gone into obtaining that crap. I just set up a simple spread sheet on my laptop and sat myself down in an area of a room and looked around and logged what I saw. As far as office supplies and whatnot, I think I did a lump entry.
I also did steps 2-6 in varying degrees over the years. I would actually really like to recommit to YMOYL. My hubby and I are feeling vulnerable with all the political rancor toward teachers and like maybe we should find a way to be a little more independent of that income. I have maintaned a wall chart throughout all the years, but we don't do the monthly questions, we haven't figured out our real hourly wage in a while, etc. I'd love to do that again.
One last thing: when I was super dedicated to working on YMOYL, I blogged about my progress on 43 Things. Here are all my old entries. It's been a while - since then we are out of debt, so that's a major accomplishment.
I'm back to the forum and thread. What do you all think about setting ourselves a goal - a date by which we will work through the basics in Step 1 (money earned in lifetime, net worth, inventory of tangiblesw) - so we can hold each other accountable? (Or, we can start smaller, and set a date for 1a, then 1b, etc., LOL!)
I need a 'kick' to get over my anxiety and just 'Start and Keep Going' !
How 'bout Easter for Step 1?
That would give enough time to request and receive the Soc Sec statement if you don't already have one.Originally Posted by Madsen
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