By Trent Hamm
As I’ve mentioned before, the single most valuable personal finance book I’ve ever read is Your Money or Your Life by Joe Dominguez and Vicki Robin. I read this book at a key point in my financial turnaround: the point at which I had hit my financial “bottom” but hadn’t really started to turn my finances around in a real way yet.
One key idea that I took away from this book (and has stayed with me ever since) is the concept that the money in your pocket is merely a representation of time and effort.
First, let’s look at the money in your pocket. Let’s say you have a job that earns you $10 an hour. That means you net $400 per week. However, after taxes, you’re bringing home only $320 per week. You’re also spending... More...
