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Showing posts with label Book Reviews. Show all posts
Showing posts with label Book Reviews. Show all posts

Sunday, July 5, 2015

25 IS THE NEW 65: How To "Retire" Outrageously Early And Do Whatever The Heck You Want

Book Review- 25 Is The New 65 by Travis Hornsby

I recently stumbled across Travis Hornsby's book 25 Is The New 65: How To "Retire" Outrageously Early And Do Whatever The Heck You Want while it was free on Amazon for a 3-day promotion when it was launched.  This book is about how Travis (aka TMONEY on his blog) was able to get through college with a respectable amount of savings and lived a very frugal lifestyle while working full-time a few years.  Travis clearly did not enjoy his time working in the corporate world and decided to get out and go a different way.  Living a frugal lifestyle allowed Travis to save and invest enough after working only a few years to "retire" at a very early age.

In this case, "retirement" does not mean never working again, but instead means working part-time or working on things that he enjoys and wants to do to continue to make some money.  Also, this sort of retirement will require living a very frugal lifestyle, living on about $16,000 per year.

This is clearly not the path for everyone.  There is a trade-off between having time to do whatever you want and having money to experience things that cost money.  I am fortunate that I have a career that is interesting, so I don't see working as a form or torture.  Of course, I would like to retire someday, but for me I don't mind the lifestyle of having a professional career and making lots of money for awhile.

This book does have some good examples of how you can live frugally to minimize expenses and boost your savings and investment contributions.  I liked his examples of "typical" spending by young people out of college and how this could lead to working for a very long time to pay off debt.

Many people do not learn to control spending until later in life, this book provides an example of what is possible with extreme financial discipline early in life.  If you are dealing with debt, this book can provide some motivation to cut expenses, boost savings, and get rid of that debt to find your path to freedom.

I enjoyed the exercise of thinking about how frugal I want to be and what trade-offs I am willing to make to have time available to pursue my interests.

Copyright © 2015 by Dr. Penny Pincher.  All Rights Reserved.  Privacy Policy

Saturday, May 30, 2015

Real Life on a Budget by Jessi Fearon

Book Review- Real Life on a Budget by Jessi Fearon

Real Life on a Budget by Jessi Fearon

If you are looking to improve your financial situation, having a budget that you can follow to meet your goals is essential.  Real Life on a Budget is easy to read and provides some solid advice on how to get on the right track financially.  This is the third book written by Jessi Fearon who also writes at the personal finance site The Budget Mama.

Real Life on a Budget is written in short chapters that cover topics related to setting financial goals, setting up an emergency fund, paying off debt, planning a budget, and dealing with issues that can derail a budget.  Each chapter ends with a "challenge" which prompts the reader to implement the concepts that were covered in each chapter.

I think most people who want to improve their financial situation will be able to relate to this book since it is written from the perspective of someone who was deep in debt from using credit cards to live above her means and was able to turn things around through frugal living and staying on a carefully planned budget.  Jessi describes the challenges of staying on a budget while balancing life with her husband and kids- this is the "real life" that is mentioned in the title.

If you don't have a budget, or have a budget that is not working for you, Real Life on a Budget would be useful reading.  This book is well-written and provides specific steps to set goals, plan a budget, get out of debt, and tips to stay on your budget.

Thanks to Jessi for providing an advance copy of the book to review here on Penny Pincher Journal.  The book will be distributed starting June 30, 2015 on Amazon and can be pre-ordered now.

Copyright © 2015 by Dr. Penny Pincher.  All Rights Reserved.  Privacy Policy