Want to serve as a YMoYL regional coordinator?

Although some people are able to reach financial independence all by themselves after reading Your Money or Your Life, most of the people I know prefer to work the program together with other like-minded individuals. In fact, we get at least one email a day from someone in the U.S. or Canada who wants us to help them find other YMoYL advocates. Would you like to help others successfully implement the Your Money or Your

You heard it here way back in the 20th century

When Tom Friedman – famous tout-er of globalization – uses his columns to challenge the growth paradigm, you know the world is changing. He quotes here two long time prophets (back a few years ago they called them Cassandras) of coming climate change, Joe Romm and Paul Gilding) and asserts that 2008 will be seen at the beginning of the “Great Disruption” when “Mother Nature and Father Greed have hit the wall at once”.  When

“Don’t buy stuff if you don’t have the money” by SNL?

Once again, Saturday Night Live nailed it. Watch this clip about “Don’t buy stuff if you don’t have the money”.  Of course, that’s obvious to you. And me. But don’t be surprised if you try to teach others about this approach to money and run into this kind of confusion… If you have been an FI educator, how have people responded to you? Anything like Steve Martin?

Q&A with Vicki in the news

Two great website authors have interviewed me via email recently – the Simple Dollar and US News and World Report – and the articles are now on the web. They are quick to read, and interesting imho.  Kimberly Palmer is a senior editor for U.S. News & World Report, writing about how to save money, avoid scams, manage debt, and be a savvy shopper. Her review is here.  Trent Hamm is the host and author

Planning for the Prime Years of Life

With the stock market sinking daily, it’s hard for many investors to stomach the thought of putting money back into the market. That’s totally understandable. As a short-term strategy, many people are keeping their cash in money market accounts or short term savings accounts. If that helps you sleep at night, then that’s what you need to do. But eventually, things will stabilize, markets will go back up, and you’ll need to start planning for

The Power of Being FI

When I first read Your Money or Your Life in 1992, the concept of transforming your relationship with money and achieving financial independence seemed like a worthy goal. I remember thinking and hoping I could skip the transformation work and move quickly to the financial independence part. As usual, I wanted my dessert first. As I learned soon enough, no shortcuts allowed. Now, 17 years later, and living through the worst financial crisis in a

Advice from Joe’s old boss

Joe Dominguez worked for Loeb Rhodes and Co, an investment banking firm, for five years as a technical analyst and author of a weekly market letter. His  boss was John Loeb, an  imperious banker formed in the 1930’s through 1960’s. Interestingly, Loeb’s sage advice popped up this week in FORTUNE on CNN.com – first in a series of articles on the financial crisis.  Reading it I hear Joe, too – astute, distanced from daily ups

Everything (almost) you ever wanted to know about Comparison Shopping

Take my last two cars, for example. I saved up enough cash for the purchase. I did my research and picked the precise car for me. I called all the dealers within 100 miles and said, “I have cash to make a purchase today. What’s your best price for this car?” In both cases (my Toyota Tercel 4WD in 1984 and my Honda Insight in 2002) there was a 30% difference between the top and

Help! My spouse doesn’t support the program

We recently received an email from a reader who has been married for many years. He said he loves his wife very much but that he is getting frustrated because her spending is not in alignment with his and is threatening his overall success in practicing the Your Money or Your Life program. What should he do? The truth is that many people have struggled with this issue and have found a variety of creative

7 good money (habits) after bad

Who is responsible for your money life? Of course, the FI program says, “You are” and offers tools and perspectives for steering your money life back into alignment with your goals, dreams and values. The social sciences of neuroeconomics and behavioral economics can help explain why your brain goes to sleep or gets distracted by baubles – and a recent article from bankrate.com describes seven money traps and how to get out of them. Here’s

“Where should I put my money now?”

Vicki, Mark and I have been doing radio interviews all week to help promote Your Money or Your Life. One question we keep getting is “Where should I put my money now?” First of all, it’s important to remember that the primary message of the book is all about the importance of accumulating a nest egg and then putting it in conservative investments that can grow without too much risk. Given that context, here is

Tips for hard times #1: Patience, Priorities, People

Speaking is 10% preparation and 90% listening to the audience – which is what I’ve been doing on tour. You’ve told me so much through your questions, and I’ll be blogging a lot this week to catch you all up. The meta question of course is “What do we do now… investing, saving, earning, spending, whatever?” What seemed stable – the growth economy – is still roiling, shedding jobs, toppling the Dow from over 14,000

Tips for the Self-Employed

Thanks to all of you who have emailed us at info@yourmoneyoryourlife.info to share information or to ask us specific questions about the Your Money or Your Life program. We recently got an inquiry from a man who wanted to know how freelancers and self-employed people are supposed to apply the real hourly wage concept. The short answer is that we encourage practitioners to calculate the average from all income sources to determine one’s hourly wage