Beating Broke

Personal Finance from the Broke Perspective

The Work Revolution

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The Work Revolution

By: Dr. Julie Clow

There are so many gurus and life coaches out there that are telling everyone that they can that the only way to truly be happy with work, is to leave work, and get on an entrepreneurial journey.  There’s books, seminars, and more than enough websites that are dedicated to helping you find a way to escape the daily grind that is your work.  Dr. Clow thinks there’s a better way to go about it.  In The Work Revolution, Dr. Clow lays down the argument that it isn’t that you need to find an escape from work, but that work as we know it is in need of a revolution.

The 9-5 workday has it’s roots deep in the factories and assembly lines of the industrial revolution.  Dr. Clow posits that we are deep into the throws of a new revolution.  An information revolution.  No longer are we constrained by the physical localities that we work, and often find ourselves working with others within our company that are in entirely different timezones, and even different continents, than we are.  Work needs to change, she says, and we have to help it.

Of course, the book isn’t all about just the hours we work.  And, it’s not just about what we as the employees and workers can do to change work.  Each of the sections has a dedicated section for employers and leaders on how they too can help change the way we work, and make our companies better.

If you aren’t ready to make the jump to self-employment and entrepreneurship, or just don’t want to, but aren’t satisfied with the work environment that you are in, take the time to read this book.  It’s full of lots of information and new ideas on how work can be given a push in the right direction towards change.

On a more personal note, it’s interesting to me that I ended up with this book for review at almost the exact same time that I was making a decision on returning to the workforce.  Many of the points that Dr. Clow makes on how work is broken, and how companies are dysfunctional stuck out to me as things that I had become unhappy with in my old job.  At the same time, I saw many of the things that she suggests as ways to make a move towards a work revolution that were already happening at what would become my new job.  Just that fact alone has made me much more comfortable with making the decision to take the job.  Proof positive that The Work Revolution is a good book to read even if you’re currently looking for a job!

Money Rules by Jean Chatzky

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Money Rules by Jean ChatzkyMoney Rules : The Simple Path to Lifelong Security

By: Jean Chatzky

Chatzky is a pretty big name in the realm of personal finance media, so when I was asked if I wanted to review her latest book, I jumped at the chance.  In Money Rules, Chatzky aims to break down personal finance into it’s most simple denominators and give it out in a set of rules.  Overall, there’s 94 rules.  Each is a paragraph or two long.  And, each is pretty solid.  I had a hard time finding any of the rules that I could argue against.  There are a few that are borderline, but I think that they get a pass in the sense that they can be considered a standard personal finance rule.

There are some readily acceptable rules too.  Increasing savings with each raise, not treating your primary home as an investment, not shopping hungry, and 90 others.  From the longer ones, to the shorter ones, the book is a quick read, at 114 pages, so you don’t really have any good reason to not read it.  I think that it’s one of those books that you can read quickly, and refer back to occasionally for guidance and reaffirmation of some basic personal finance principles.  Because of it’s size, you’re not going to get bogged down in the nitty-gritty details of each point, but merely get the point and be able to find ways to apply it in your own life.

Currently, the book is a bit over $10 at Amazon in paperback, and a bit over $9 for the Kindle.

P.S. I’ve got a couple of copies to give away, so come back tomorrow to see the details on that!

The Millionaire Fastlane

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The Millionaire Fastlane

By: MJ Demarco

If there was ever a case for a little less “hype-y” title for a book, this is it.  I’m not sure what else I would have named it, but the title just seems like a whole bunch of get-rich-quick hype, and it kept me from reading the book sooner than I did.  Which turned out to be a bit of a downer, since it’s really a good book.  Demarco spends about half of the book describing his ideas on the different types of life travelers.  There’s the “sidewalkers”, the “slowlaners”, and then, the “fastlaners”.  Each describes a way of thinking about how we travel through our life, financially.

The “sidewalkers” are the people who subscribe to a 9-5 work life and save as much as they can in hopes that they can one day retire on a decent budget.  The “slowlaners” are those that have started to break away from the 9-5 lifestyle and have some side income coming in, but they just don’t (or won’t) make the jump and get into the fast lane.  The “fastlaners” are those who have made the jump to business ownership, entrepreneurship, and are making their money on their own terms.

The second half of the book is dedicated to the “fastlaners”.  Demarco talks about the dynamics of earning money and how the way you make and spend your money is so important to becoming a “fastlaner”.

As someone who regularly writes about frugality, saving, and making the most of what money you do make, I have to admit that I was a bit off-put by the first half of the book.  There is a large contingent of the world that will work most of their lives, save for retirement, and then enjoy the rewards of having done so.  His arguement, of course, is that we shouldn’t have to work our lives away until we’re 60+ years old only to have our body break down on us and not be able to enjoy our hard-earned money in retirement.  Instead, he talks about becoming a “fastlaner”, and creating your own wealth so that you have control over your life and your income.

On the flip side, as someone who recently quit my job, and am trying to make a go of it as an entrepreneur, I really felt that I connected with many of the “fastlaner” ideas.  Going to college, getting a job, and working until you’ve got enough to retire on does seem like a long, fruitless pursuit.  Going solo and building something worth a great deal of money that enables you to retire early and live life the way you want to sounds a lot less long and more fruitful.  I think he makes a great point that many won’t be willing to make that jump and will, instead, settle for the “slowlane” lifestyle.

If you’ve ever given though to starting your own business, or are just unhappy with your job, I think this is an excellent book to read.  It’s inspirational in that it really gives a good idea of what is really possible.  Demarco comes across as someone who really is trying to help people out of the “slowlane” and into a “fastlane” mindset.  I think some will struggle with the concept, and surely, with the ingrained mindset that we’ve all been taught growing up, but seeing that, and beginning to break away from it are excellent steps.  Steps that will be helped by reading this book.