Comments on: What is It Really Going to Cost?

By: Lily

Lily — Wed, 23 Jul 2008 03:04:33 +0000

This is a GREAT post! The Hourly Disposable Income exercise really puts things in perspective. Thanks!

By: Melaniesd

Melaniesd — Tue, 08 Jul 2008 22:28:21 +0000

I just reserved it from the library! Thanks Gail.

By: Annie

Annie — Tue, 08 Jul 2008 14:59:31 +0000

@ Tony: Joe Dominguez and Vicki Robin are the authors! I’m on Chapter Two right now and learning a LOT. Good luck!

By: Tony

Tony — Tue, 08 Jul 2008 13:40:35 +0000

Thanks Annie for the heads up, I’ll have to get a copy.

By: Jo

Jo — Mon, 07 Jul 2008 22:36:31 +0000

I read “Your Money or Your Life” a few years ago and it was life-changing for me. What’s especially cool about it is that the authors used the proceeds to start “The New Roadmap Foundation.” Both continued to live on very very small amounts of money ($6,000 at first, I believe). Joe Dominguez died of cancer a number of years ago, but Vicki Robin is still going strong trying to educate people to change their relationships with money.

It is because of this book that I expect to reach “financial independence” at age 35 - a little under three years from now

By: Andrea

Andrea — Mon, 07 Jul 2008 19:39:42 +0000

Great post Gail! Also I think it would hammer home how much your daily cost of living is. You may also want to think about is that house with the white picket fence really worth my freedom? Personally my husband and I have chosen to live in a smaller condo townhouse and people wonder how we are able to travel so much. Next year we are off to Europe. I love my house and it’s plenty big for both of us and a small family in the future.

By: Lisa

Lisa — Mon, 07 Jul 2008 17:59:04 +0000

I love Your Money or Your Life! A great book. I was wondering when you were going to mention it on this blog. Your calculation is actually a bit different than the one they use in the book, but just as effective! Once again, being conscious of where you’re spending and whether it’s worth it in terms of your life energy is the key.

By: Frugal Trenches

Frugal Trenches — Mon, 07 Jul 2008 16:51:31 +0000

Sheer brilliance and I am sure this is where people go wrong! They think they earn 100,000 a year, but actually once you minus your cost of living its more likely you have less than 5k a year to play with! All of a sudden spending $300 seems unrealistic!

By: NR

NR — Mon, 07 Jul 2008 16:24:29 +0000

Perfect timing. For the past 4 days I’ve been trying to decide whether or not I should purchase a non-essential $200 “want” item. The husband is fine with me buying it as long as I would use it. It would require a significant amount of my time (90 min/week) in order to make good use out of it. This blog has made my decision for me. Not only is it the money, but its also the cost of my time. When you have 2 young kids (1 and 3 year old), time is as valuable as money. Thanks Gail.

By: Tracy J

Tracy J — Mon, 07 Jul 2008 15:19:46 +0000

I am used to doing a similar calculation when I want to buy something (vs needs to buy something)…. yours is was more brutal though!

Gail, I hope you don’t mind that I copied and pasted this one into an email and sent it to my sister…. the queen of impulse shopping…. (full credit to you and a link to your blog, of course)