Your Money or Your Life:
9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence

By: Vicki Robin, Joe Dominguez | | Rockstar Review | Categories: Mindset, Debt, Frugality, How Tos, Money Management
A book on how to gain control of your money and finally begin to make a life, rather than just a living. With an easy-to-use index and anecdotes particularly relevant today - it tells you how to: get out of debt and develop savings, reorder material priorities and live well for less, resolve inner conflicts between values and lifestyle, save the planet while saving money and more.
Recommended by the following bloggers:

What Bloggers Are Saying...

"One of the most practical financial books I've read, period."
"It was the first one I read, like many people it seems, and it definitely got me started on the path to FI with concepts like real hourly wage and life energy spent. I don't have a graph hanging up anywhere and I haven't completed all of the steps, but it was a life-changing mindset shift."
"This book begins with simple principals the people at any stage can apply to their life, and then aims everyone (no matter what their current financial status) toward the goal of Financial Independence. Also, any book advocating Values Based Budgeting... *swoon* ...is going to appeal to me."
"Listened to her podcast recently by Mad Fientist and absolutely love her style of talking. Can't wait to read her book next (also on my list for this weekend)."
"True financial independence at it's core. How to plot the path where your money generates money for living expenses. Gives another POV on how we can be 'free'"
"This book makes it clear that there is a way to live life on our terms and that is: the faster we get our money working for us rather than us working for our money the better. It explains how to do it and how to track our progress. It's a real game changer and should be required reading for everyone. Period."
"Oddly enough, I actually found this book difficult to get through. It's still one of my favorites because it has incredible ideas. My favorite is to calculate how much of my life energy I'm using to get to and do my job everyday. It's not just 8 hours a day for X number of dollars. I need to add preparing my breakfast and lunch, commuting, buying work clothes, etc. My other major takeaway from this book is calculating the cost of everything in terms of hours of work or life energy. So if I make $20/hr and want to buy a shirt that is $100, I have to work 5 hours to earn it (not taking into consideration taxes). That has really changed the way I look at things like needs vs wants and helped me purchase much less stuff."
"This book has the potential to transform the way you think about money. I'll even admit: I'm not all the way through it yet (because I stop to do the exercises!), but it's something that would be life-changing if you read it early into your working years."
"Classic book on financial independence"
"A good psychological look at your money and how you view it and what it does to you."
"Actually looking at the costs of things in terms of time and not money is life-changing."
"It's the one book my husband read. It got him to understand better what I was blabbing about for months."
"The main point of the book for me was HOW to think about money. By using your money to buy things, rather than experiences, you let your money control you. There was a big shift in my way of thinking about money when I realized that everything I buy required me to spend X number of hours working."
"The original FI philosophy is laid out in this book!"
  - Joel @ fi180.com
"Inspired my wife and i to retire in our 40s."
"This book changed my perspective on money and life. It seriously was an investment that paid for itself a thousand times over. By realizing that money is simply a means to achieving freedom, I began to change around my financial situation."
"A good guide on changing how you think about how to earn and use money and use it to create the life you want."
"Dominguez and Robin outline how you can live very well on less. It's not about living less, but acting less like a corporate buying unit. The first edition struck me with the amount of money it took to live. I'm frugal, but Dominguez takes to a whole new level and still maintained quality of life. Money is important, but as Dominguez and Robin illustrate, living life is far more important."
"Has a unique and good perspective on time versus money. It really makes you think about what you're spending your life on by working so much."
"Just a great book that really puts things in perspective"
"This is the book that provided me the guidance and the tools to begin to take control over my finances. It also planted the seed of FIRE, well before it was even called that."
"The classic. The life-changer. The fountain of knowledge from which we all drink."
"This book was life changing for me. It made me think totally different about money - and work. And it got me to act, rather than just think. Learning to figure out my true hourly wage was crazy. That is something EVERYONE should do - no matter what job you hold. You can likely work a job you love for as much as (or sometimes really close) to what you're making at a job you hate - if you do the math."
"This is the book I read in the 90s that got me thinking about early retirement and prioritizing living a rich life over living like a rich person."
"Radically transforms ones thinking to equate time with money. Life changing concept,"
"This book really helped me make the connection between the choices I make today and the choices that will be available to me tomorrow. The concepts are simple, yet there are thorough explanations and plenty of examples to give meat to the simple concepts."
"It reframed how I viewed money. I began seeing it as a tool to be used to build and move closer to dreams."
"You learn how to gain control of your finances with simple and easy to use tools that stick over time."
"It provides a much needed other option! This book shows people how to pursue a life that energizes them by spending frugally and working intentionally, instead of trading their precious hours sitting in a cubicle for 30 years."
"This book helped inspire me on the road to financial independence-by looking at the trade off between your time (life energy) and money in a different way. Parts of the book are outdated but the core concept is as powerful as ever"
"I'm a finance nerd and love the different ways this books make you think about money and wealth and how to track it. While calculating your net worth is important, the other formulas they present really will help you grow your wealth."
"It's relateable without being pretentious and in your face...like me? Haha!"
"It's a classic and it just makes total sense (minus the investment advice, bonds? yea I wish)"
"Perhaps one of the first books that really got me going towards early retirement and realizing that time and money are really the same thing."
"You don't need to be a committed FIer to get something from this book. It really gets you thinking about how you spend your money and whether these purchases are really making you happier. The exercise in working out your real hourly wage is worth the cover price alone. I hear co-author Vicki Robin is writing an updated version for millennials, which sounds interesting."
"Trading hours of your life for stuff, how more eye opening does it get than that."
"This is the book that laid out a 9-step blueprint for financial independence even before there was an internet or a FIRE community. A key takeaway for me was the idea of charting your progress towards your goals every month and putting those charts where you can see them and be motivated by them everyday. Updating my charts every month helps keep me motivated. Any time I need a reminder of how far we've come I just need glance at the charts."
"I love the message about frugality being freedom, about valuing money not as time but as your life energy that you can choose to exchange or not and about financial independence. Also, it is practical & concise - the new edition will also keep the investment side up to date."
"Needs no explanation. The one that started it all in this movement. Some of the investment advice is outdated, but it's a classic."
"Changed my life completely! So wish I read it earlier in life. But better now than never!"
"Whilst I understood the benefits of knowing how much my time was worth, until I read Your Money or Your Life I didn't calculate the total cost of employment (e.g. clothes, gas etc) or the total employment time (commuting, lunch breaks etc). These both made a huge difference to my time value and thus have changed my perspective on what I would of paid someone to previously do."
"People think that living below your means is crazy, but it actually has made my outlook on life much better. This books explains why."
"Reading YMOYL opened my eyes to the concept of time and money and my life's energy. Suddenly I was looking at my job in a whole different light. The concept of all the extra hours you effectively work at your job through commuting, decompression time etc really hit home and made me re-evaluate how I approached work."
"Good to help change a persons mindset regarding finances"
"It changed how I viewed money."
"This introduced me to the concept that working is exchanging your life energy for money. Also, it got me in the habit of tracking every penny I spend."
"It has changed my outlook on money and jobs, and given me new goals in life. This book is actually the catalyst for my blog. The review of the book is the blog's first post! I recommend this book to everyone I know. I genuinely believe it is one of the best personal finance books ever written. Many personal finance books talk about saving and investing tips and how to get more money. While this book contains these elements, it’s also a guide on how to reach financial independence. Financial independence retire early (FIRE) is a trending term these days. When I first heard about the movement, I was enamoured by it. It’s exactly what I want to do, but I didn’t know the first thing about how to achieve it. This book shows you the way. Here's more information about why I love this book: https://www.mommoneymap.com/how-to-reach-early-retirement-in-9-steps/"
"It epitomizes the FI/RE lifestyle."
"I only recently read the revised edition recently but I really enjoyed it. I like the focus on mindset and improving the world overall with financial independence."
"Comprehensive and Holistic. Has stood the test of time."
"It's kind of the one that started it all I think."
"This book teaches us that every time we purchase something we exchange life hours for it. Thinking this way can really adjust our spending habits in a way that will drastically improve our financial positions."
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