Have You Really Considered How You Are Trading Your Time and Energy? – ToDay We Discuss The Book By Vick Robin, “Your Money or Your Life”.
This post today will change many lives. I came across a very interesting article this past weekend about Millennial Millionaires and one thing I notice that several of them mentioned was a book that had changed their views on money.
I had to check it out…..
Do you want to know what it was? I did too!
Our most precious resource is our time and our life energy. When you begin to think about how many hours of your life that it took to pay for something, you will begin to make a shift in your decisions and relationship with your money.
What Are The Key 9 Steps That Can Change Your Joy and Freedom?
Step 1. How much money has come into your life and what do you have to show for it?
This step is about taking a clear, honest look at your current financial situation and how you got there. This is important in orienting yourself toward positive change.
Step 2. Being in the present: Tracking your life energy
With Step 2 you’ll start to take a closer look at the way money moves in and out of your life, day in and day out.
Step 3. Where is it all going: Monthly tabulation
With Step 3 you use the information gathered in tracking to see what patterns are emerging. You establish your own spending categories and create a monthly summary or “tabulation” of your expenses and income, including how these activities affect your bottom line at the end of each month
Step 4. Three questions that will transform your life
In Step 4 you’ll evaluate how you earn and spend money and if it aligns with what you want to do and be in your life. You’ll achieve this by reviewing each category of your monthly tabulation in the context of three life-changing questions:
- Did I receive fulfillment in proportion to life energy spent?
- Was this in alignment with my values, goals and purpose?
- How would this change if I didn’t have to work for a living?
These questions will help you adjust your current behavior to achieve maximum fulfillment in relation to money.
Step 5. Making life energy visible: Your wall chart
Step 5 is to create a visual tool to show how money flows in and out of your life over time – a wall chart of your monthly financial progress. By plotting your monthly income and expenses in a graph you can see a visual picture of your life energy in action, over time.
Step 6. Respecting your life energy: Minimizing spending
With Step 6 you look at ways to lower those expenses – because you respect your life energy and want to conserve it.
Stop spending life energy on stuff that is not bringing you maximum fulfillment in proportion to the life energy you spent on it. Think about how much space and time that might give you to focus on living your life in alignment with your goals and values!
Step 7. Respecting your life energy: Maximizing income
Step 7 is increasing your earnings, exchanging the life energy you put into your job for the highest possible income, without compromising your values or your health, for a self-defined period of time.
Step 8. Capital and the crossover point
With Step 8 you look at how your savings — your conserved life energy — can be used as capital to earn investment income.
Step 9. Securing your financial independence
In this step, you will establish your own long-term investment program to guarantee sufficient income from a source other than paid employment for the foreseeable future. The purpose of this step is to enable you to live freely, without worrying about your finances — neither your employment nor your portfolio. If only I had discovered and read this book when I was younger. I have a gift of knowing how to earn money but have not made wise decisions on how I have spent money that I have earned. It is never too late to make changes! I think that this book should be required reading by all students. Any thoughts?
This book should be in the library of every person on the planet. I think this would make a fanstatic gift for a young person.
Here is a link to the book on Amazon.