The Book That Changed My Relationship With Money

In this episode of book club we're looking at Your Money or Your Life by Vicki Robin which looks at how we can transform our relationship with money, work and our lives. It has been a best selling book for nearly 3 decades and in this video we look at a couple of the key themes including how we should define work, what is 'enough' and why we should equate money with life energy.

Timestamps

00:00 Intro
00:27 Redefining Work
01:58 What is enough
03:24 Money = Life Energy
05:08 Three Key Questions About Life Energy

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[aliabdaal]

Timestamps

00:00 Intro
00:27 Redefining Work
01:58 What is enough
03:24 Money = Life Energy
05:08 Three Key Questions About Life Energy

[QuestionEverythingButWHY]

“Don't tell me where your priorities are. Show me where you spend your money and I'll tell you what they are.”
--James W. Frick

[Azn_Bran]

“Freedom is not achieved by satisfying desire, but by eliminating it.” True wealth lies in wanting less. “No person has the power to have everything they want, ” Seneca says, “but it is in their power not to want what they don’t have, and to cheerfully put to good use what they do have.” Our goal should be to “seek riches, not from Fortune, but from ourselves.”

[QuestionEverythingButWHY]

“Don't think money does everything or you are going to end up doing everything for money.”
― Voltaire

[QuestionEverythingButWHY]

“Too many people spend money they haven't earned, to buy things they don't want, to impress people that they don't like.”
― Will Rogers

[thesevenstudent]

Netflix, you need to give this man a Netflix show now!!!

[DianneSullivan]

The point about spending money to impress peers is so true. I have been working from home since March 2020 and I have spent way less money on clothes than I usually would. It's as much to do with no feeling that I have to 'dress up' for work and wear something different every day as it is to do with not being influenced by what my colleagues are wearing. Just seeing heads on screen certainly helps with shoe envy!

[unluckytourist]

Read this many years ago. I didn't follow it completely, but it left a large impression on me and changed how I spent money and even how I approached work. I became a lot more money AND time conscious.

[xenrin]

The idea of money is bought with time was really well illustrated by the film "In Time", where people get paid (and pay for things) with time credits. (hit zero and you're dead) It really does change how you think of what you buy. I'd like to add, that your equation for determining hours worked for an iPad, doesn't account that the money is post tax. If the tax rate is 40%, you need to calculate the time based on 60% of your salary. I appreciate that you may have trying to keep the math simple. I find it helps if I think of an item at twice the listed price and ask myself if I still want it.

[CodyBanks]

In most the of the channels that I'm following, this one seems to growing at a much higher rate. Big up Ali!!

[ThatMarkGilroy]

That fulfilment curve reminded me of one of my favourite quotes - “if you don’t know how much is enough, the default is always more.”

[GrowWithWill]

Knowing what is enough is crucial for long term joy as well. One of the best takeaways from The Book of Joy for me.

[CXYJoanne]

I always enjoy how you so smoothly incorporate your sponsor in like its part of your sharing!!

[anjaneudorfer]

I've just finished the book "Happy Money" by Ken Honda and he also mentions how important it is to only spend your money (and energy) on things or people you really love because of not it's just useless for that specific case
And thanks for sharing another great book with us Ali!

[swapnilchand]

"Status " is something for which we blindly follow the tradition of earning money, otherwise I think more people would have been pursuing their interests instead. Just what Sandeep Maheshwari says.
Great job Ali

[midlife_minimalist]

I think age is a factor in that “enough” point. Assuming I don’t live beyond 100, I’m in the latter half of my life and you get to a place (at least I have) where you realize life was better before all the stuff and complexity it brings. It’s really past the point of enough - you actually re-define what is enough and want to reverse course.

[moneyb]

Ali Abdaal, Matt D'Avella, Thomas Frank: All upload at the same time
My brain: Time to get smart 🤓

[BeAnEntrepreneur_Taresh]

*Thank you sir for all the wonderful videos that have helped me*

[parkswithpj]

It’s so very true - it’s a mindset I’ve used for a few years. Before I make a purchase, I walk around for a bit imagining how much joy it really will bring as I’ve wasted so much money before on frivolous purchases that brought me...can you guess? Zero fulfilment. Great post & great book! 😁🙏🏼

[tammiepulley]

I read that book about 30 years ago. It really opened my eyes. Thanks for visiting it on YouTube.