“Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence” is a bestselling personal finance book by Vicki Robin and Joe Dominguez, with later contributions by Monique Tilford.
Key Details:
First Published: 1992
Updated Edition: A revised version was published in 2018 to address modern financial challenges.
Authors:
Vicki Robin: A social innovator and advocate for sustainable living.
Joe Dominguez: A former Wall Street analyst who retired early to promote financial independence.
Summary:
The book introduces a 9-step program to help readers:
- Understand their financial habits: Track every dollar spent and earned.
- Calculate their “real hourly wage”: Assess how much time and effort each dollar costs.
- Align spending with personal values: Prioritize happiness and meaningful experiences over consumerism.
- Achieve financial independence: Reduce expenses, eliminate debt, and save to build long-term financial security.
It emphasizes frugality, mindful spending, and the concept of “enough” to create a fulfilling life beyond the pursuit of money.