The other great book that I have mentioned that has revolutionized my financial thinking lately- Your Money or Your Life and it works very well with Smart Couples Finish Rich.
Part of SCFR that I enjoyed was that it worked well with YMOYL by helping me define my life goals not just in terms of finances or money. It's easy for people to say "I want to have a million dollars" or "I want to retire when I'm 40", but those statements don't get to the heart of what you really desire or why achieving those goals would bring fulfillment.
By forcing myself to write out the things that I valued most on my life, I was able to find a renewed purpose for financial planning. We've paid off all of our consumer debt, so we're now able to save aggressively. But save for what? Save it all for retirement? Retire and do what then? What about enjoying life now? How do we want to spend our money the next 20, 40 or 60 years?
The first part of the book is lots of facts and figures and anecdotal stories to tell you how messed up people's finances are. He presents lots of charts and graphs showing how much you could have at some future date if you had started saving in junior high. The middle portion of the book, where he focuses on goal setting and defining your value is the most valuable part to me. The rest of the book was composed of very elementary personal finance lessons, which weren't relevant to me.
Another more complete review of the book is available here at The Simple Dollar, a great personal finance blog (which also contains reviews of many other personal finance books).
GOOD NEWS OF THE DAY: I finally have dental insurance and I'm going to the dentist today!
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