Monday, March 5, 2012

YMOYL Online Book Club: Who's In?

I just finished reading Your Money or Your Life for the second time. It's definitely a good book with some great personal finance tips. What's more, it's inspired me to tighten my already tight belt a bit more after the second reading., But I still feel like I'm missing something, because I just don't seem to be getting quite the same life-changing value out of it that everyone else does. And there have been many questions popping up as I read the book (especially about this whole real living wage idea) that I'd really like to discuss with someone.

See, I think what I'm missing from reading the book all by my lonesome is good discussion with other frugal-minded folk which is why I'm forming the YMOYL Book Club right here, right now. That's where you come in!

I know, you're busy, I'm busy, so I'm aiming to make this as simple as possible. Starting this Saturday (which will give you some time to buy, beg or borrow a copy of the book), we'll take it nice and slow and tackle a chapter/step a week. There's nine chapters, which makes (watch these mad math skills come out. Wait for it....) nine weeks of frugal, finance goodness.

The nine-week program

Week 1: Making Peace with the Past (Step 1)
Week 2: Being in the Present - Tracking Your Life Energy (Step 2)
Week 3: Monthly Tabulation (Step 3)
Week 4: Three Questions That Will Transform Your Life (Step 4)
Week 5: Making Life Energy Visible (Step 5)
Week 6: Valuing Your Life Energy - Minimizing Spending (Step 6)
Week 7: Valuing Your Life Energy - Maximizing Income (Step 7)
Week 8: Capital and the Crossover Point (Step 8)
Week 9: Managing Your Finances (Step 9)

The Rules
The rules of the YMOYL Book Club are simple; tell everyone about YMOYL Book Club. Nah, just kidding, there are no stinkin' rules. Participate as much or as little as you want. Don't wanna actually do the exercises? No problemo. Going out of town in three weeks? Jump back in when you get back. Not comfortable giving the deets on your finances to the internets and beyond? Me either. We don't have to be specific. Already read the book and are willing to share your experiences? Heck yes, we want you too!

In fact you don't even have to get the book if you don't want to, although I'd definitely recommend reading it sometime. You can just go to and download the free program guide, which outlines the steps that make up the program. Yes, the book includes much more information, including stories from other program participants, but my point is the more the merrier.

Sounds simple enough, right? So, who's in?


  1. I'm totally in! Although I'm not sure if I still have a copy lying around... I tend to give them away like party favors because I just think that EVERYBODY should enjoy this life altering program. But I'm sure I can find one somewhere. I haven't read any of the newer editions, so maybe this will be a good excuse. Which edition are you using?

    I may have to draw on historical info since I haven't had a real job for 5-6 years now... thinking of the real wage stuff. And I can't promise I'll be super diligent about charts and stuff, but I'm certainly happy to blather about my experiences (blathering is my forte after all!)

  2. Yay, thanks Cat, I was feeling a little desperate and dateless over here! I'm using the 2008 revised edition, but anything works.

  3. I'm in of course! You can read my initial thoughts (or later, since you may want to form your own opinions first):

    1. Thanks OG! And of course writing on your own blog and linking up is encouraged!

  4. Hi, just found you through EcoCatLady. My husband and I both read the book a couple of years ago, but didn't really do anything with it. Maybe this is the kick in the pants that I need. I just downloaded the program guide, and I already started crunching numbers (which I love, actually). I'll try to keep up with the discussion here.

    1. Melissa - Great, welcome aboard! I figured doing this publicly and as a group would be the kick in the pants I need as well.

  5. I'm in! I read the book a few months ago and track our spending, but that's where I stopped.

  6. I would love to join in!
    I have the book and it changed my life about 4 years ago! I have never gone through it 'properly' just done the big picture frugal living pay off debts and save thing : )
    Ruth in Western Australia

    1. Glad to have you Ruth! The fun should start later today.

  7. I'm in. (Found you via Grumpy Rumblings' link.) I've read it a few times and given it to a few people myself. I've never fully done all the homework and probably never will (I don't want to inventory all my stuff). Still, I haven't done much with it in the past few years, and it will be interesting to re-run some of the numbers, maybe do some extra stuff, and just re-inoculate myself with the good thinking.

    @EcoCatLady, I've heard the editions are very similar except for the chapter on investing which is very different. I have the earlier edition myself.

    1. Oops, the above post was mine.

    2. Great, welcome Debbie, happy to have you!

  8. For me the best part about this book is the no shame no blame attitude, which really makes it less intimidating to do the calculations. I skipped the lifetime income part but finally got around to figuring out a rough actual monthly income -- don't want to skip ahead though! -- My main thought on Chapter one of this book is that it is eye-opening and very different from what I expected out of a finance book.

    I'm at Chapter 3 and posted about my current thoughts already. Chapter 4 thoughts coming soon...

  9. I'm late to the game but really excited to start. Currently on Step 2B and will be doing it til end of the month. The self-help style of the book is a bit grating but if I want literary merit I should go read Shakespeare, right? So count me in, all the way.


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