Money Diaries is like a combination smart personal finance class-slash-dirty secret. There is something seriously naughty about snooping through the intimate details of other people’s daily expenses. Would I be willing to share mine? *snort* Not likely! Even posting everything I read on Goodreads is pushing my limits.
This is a very smart book, partly because it shows people making what may not always come across as smart decisions. These stories are unique, though, and each person makes different spending priorities. I like reading the examples from women who earn significantly more than I do and imagining if I would spend my income in the same way. This, among other reasons, makes Money Diaries a great book to share with a romantic partner. You can pick through the details and talk out whose side you take. This is how a couple starts to form a united front and start making team financial decisions.
This book is aimed at younger, urban people. While it does touch on “extreme” savings and debt reduction, this is definitely not a frugality book or a financial independence book. As such, it may be a better choice for those who are repelled by austerity measures. This makes it more pragmatic than other books, especially because it includes realistic material about wine, birthday presents, yoga, therapy, and other personal necessities like buying hardcover books to read during chemo.
I respect Money Diaries as an approachable and practical book about financial literacy. All the case studies are not only fun to read, but enlightening, and they make sense of abstract, complicated topics like health savings accounts. Money Diaries reads like a glossy magazine, if there were any glossy magazines that could get you out of debt and help you set up a retirement account.
Maybe we don’t even realize that we’re doing it, but it’s easy to get caught up in thinking that we should be able to afford those lifestyles.
Real wealth is about being able to make choices.
I've been working with chronic disorganization, squalor, and hoarding for over 20 years. I'm also a marathon runner who was diagnosed with fibromyalgia and thyroid disease 17 years ago.
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