The Voluntary Life

This week's episode is a review of the classic personal finance book Your Money or Your Life. Topics covered include: The inspiring story of the author Joe Dominguez—an early retiree who devoted his life to promoting financial independence for everyoneAn overview of the 9 steps to financial independence suggested in the bookStrengths of the book, especially its focus on actionable steps that you can take to change your lifeWeaknesses of the book, especially regarding the discussion of investment. Show Notes: Your Money or Your Life by Vicki Robin and Joe DominguezPrevious episodes about the Permanent Portfolio strategyListen to Episode 194 (21 mins)

This episode is a review of the book Cashing in on the American Dream: How to Retire at 35 by Paul Terhorst. Paul and his wife Vicky have been living the early retirement lifestyle successfully for the last 30 years, as perpetual travellers. This book was written back in the 1980s and was one of the first books to suggest a strategy for financial independence. The book is aimed towards employees (rather than entrepreneurs) and especially people in well-paid jobs. Paul discusses how to tackle the challenges of quitting a lucrative career and radically changing your lifestyle. His strategy is an early example of the extreme saving approach that I discussed in my presentation on four ways to quit the rat race. The investment suggestions in the book are out of date now and all the numbers have to be doubled for inflation, however it still contains a lot of useful ideas that will be of interest to anyone aiming for financial independence. Show Notes Cashing in on the American Dream: How to Retire at 35 by Paul TerhorstPaul and Vicky's WebsiteArticle about Paul Terhorst nowprevious episodes about the permanent portfolio conceptFour Ways To Quit The Rat Race presentationListen To Episode 193 (17 mins)

I got rid of my TV about 15 years ago and I have never regretted it. In this episode, I provide suggestions for how to upgrade your media diet using far better sources than broadcast media. Here's a summary of the system that I adopted for my media diet: I got rid of my TV (and radio and newspapers too). I did this because vegging out in from of the TV was an addictive path of least resistance for media consumption. I didn't want my choice of what to watch to be limited to what TV channels would broadcast.I actively collect things to watch later from the internet, from streaming services and social media. Everything goes into my media queue. This is very easy to do with capture tools like pocket, instapaper, WatchLater app and Evernote.  I also collect things to listen to later and read later in the same way.I tag everything in my media queue with my own tags, so that I know why I have collected each media item. These tags allow me to organise my media queue by projects I am doing, topics I am interesed in, or just different moods I am in.When I want to watch something, I look at my tag lists and make a conscious decision about what to watch. Having a media queue helps me be more discerning about what media I consume. I end up deleting many of the videos before watching them because they don't seem interesting after all. I highly recommend trying life without a TV.Show Notes: Business Insider Article on TV useTVL Episode 120: Eight Tools That Will Free Your MindPocket AppInstapaper AppWatchLater AppEvernoteVoice Dream AppPhoto Credit: jason a. cinaListen To Episode 192 (20 mins)

Whatever you want to get done in life, a task management app is the most valuable productivity tool that I can recommend to help you. In this episode, I explain what a task management app is and outline why it is so useful. I provide examples of how I use a task management app to help reach my goals, as well as some tips for power users. Topics covered include: Origins of task management apps and some current examplesThe benefits of a task management app over simple "to do" lists.The inefficiency of switching tasks and the value of focussed workHow to use an app to create well-defined tasks that are easier to completeThe power of filtering your commitments by contextThe value of checklists and how a task manager can store themcreating your own "perspectives" on tasksThe most valuable feature to look for in a task management app: filtering by availability Show Notes: Omnifocus App by OmnigroupThings App by Cultured CodeThe Checklist Manifesto by Atul Gawande Listen to Episode 191 (22 mins)

Comedian Rosie Tran interviews entrepreneur, financial freedom advocate, and author of Becoming an Entrepreneur, Jake Desyllas. They discuss the psychology behind financial freedom and the baggage that many people have associated with money, the importance of being on the same page as your significant other, and why less is always more! Great tips on breaking out of the employee mindset and becoming a free thinker! Show Notes: Out Of The Box Podcast Listen to Episode 190

Why are "haters gonna hate"? This episode is a review of a fascinating book called Envy: A Theory of Social Behaviour by Helmut Schoek. Here are some of ideas that are discussed in the review: What envy is and how it differs from jealousy or a desire to emulateThe key feature of envy being strongest where status differences are small Why envy exists in every society and why it could never be completely eliminatedWhy envy is camouflaged The link between envy and irrational thinkingSchoeck's theory of why envy exists and how it might have some positive role (as well as being highly destructive)You can cure yourself of envious feelings by turning it into creativity instead of destructivenessWhy you must never let haters stop you from doing something wonderfulShow Notes: Envy: A Theory Of Social Behaviour By Helmut Schoeck Listen To Episode 189 (23m)

This episode is about how personal relationships can either be the most important source of support in achieving financial independence, or the biggest hinderance. Topics covered include: Romantic relationshipsFriends and neighboursFamilyShow Notes E166 Retired at 33: Interview with Justin from Root of GoodE164 We Plan To Retire At 30: Interview with Mike and LaurenThe Millionaire Next Door by Thomas StanleyE162 Spend Little, Save More, Travel the World: Interview with Go Curry CrackerE147 Rosie Tran Interview: Financial Freedom and Personal DevelopmentTrading Up: Why Consumers Want New Luxury Goods by Silverstein and FiskeThe Overspent American by Juliet SchorE171 From Million Dollar House To Tiny Home: Interview With Jacki Rigoni118 Decluttering And Community Selling: Interview with Jorja LeavittFinancial Independence From ParentsImage Credit: Charlie Foster Listen to Episode 188 (20 mins)

This week's show is a discussion with my lovely wife Hannah Braime about how to read more than 50 books per year (Hannah reads over 100 per year!). Hannah is a life coach and the host of the website Becoming Who You Are. In the episode we talk about why reading matters and share all the hacks we know for getting more reading done. Show Notes: Becoming Who You AreHow many books can you read in a lifetime? from Cosmos by Carl SaganCalibre free e-book library management applicationVoice Dream iOS AppKindle Highlight FeatureMacJournalGoodReadsDrafts iOS appEvernoteListen to Episode 187 (34 mins) 

As an entrepreneur, I wanted to learn more about the project planning because I needed to delegate and collaborate with others. I now see project planning as integral to getting things done in all areas of life. This episode is my own take on an approach called the natural planning model. These are the three minimal steps I use in planning every project: Naming the outcomeIdentifying the next actionReviewing each project regularlyIf I am stuck on a project, the more detailed planning I do includes: MindmapsCreating a project documentation template in EvernoteWriting down more details about the purpose and mission to clarify this for myselfJournaling and brainstormingIdentifying project components and milestonesScheduling and programming tasks in a task management app (I use Omnifocus)Show Notes: Getting Things Done: The Art of Stress-Free Productivity by David AllenOmnifocusEvernoteImage: Kamil LehmannListen to Episode 186 (20 mins)

For many years I wanted to set meaningful goals for the year ahead, but struggled with the process. I never knew quite where to start and I often felt like I was just making goals up, without any real emotional connection to them. Consequently, I wasn't really committed to my goals and I found the whole process of making annual goals frustrating. I often gave up and didn't bother with the whole thing. Over time, I've developed a method of setting annual goals as part of my overall productivity systems.  Now that I have a method, I find setting and meeting goals much easier and, best of all, the goal-setting process has many other benefits, regardless of whether I meet a goal. In this episode I explain my method of goal setting. Here is a very short overview of the steps: Divide up your life into all your Areas Of Responsibility. I have 15 of them with names like Finances, Health, Relationship, Friends, Writing, Podcasting etc.Make a page for each Area Of Responsibility. I use Evernote, but use whatever works for you.On each AOR page, work out what this aspect of your life means to you. I do this using Mindmaps, unstructured journalling, and some structured writing (details are in the podcast).Add a section to each AOR page where you write down all your specific aims: what you want to change, implement, improve, or enhance about this aspect of your life.  For inspiration, review your vision board for each AOR (If you don't know about vision boards see episode 101 on How To Dream Big).Put all your list of aims together and read through to get an overview of everything you want from all aspects of your life.From your list, choose 4 or 5 Big Hairy Audacious Goals for the year ahead—whatever you feel most emotionally committed to.I also choose some Less Hairy goals for the year ahead too.Set yourself a reminder to review your list of goals regularly throughout the year (at least quarterly).Tick off the goals as you reach them. Celebrate reaching your goals. Be supportive to yourself- if you only got to 70% of an original goal at year-end, celebrate the 70% win too.Rinse and repeat at the end of the year.Show Notes: Episode 101 How To Dream BigGetting Things Done by David AllenThe Simple Way To Achieve Your Big Hairy Audacious Goals by Hannah BraimePhoto Credit: kmillard92 ccListen to Episode 185 (17 minutes)

This week's episode is an excerpt from the audiobook edition of Becoming an Entrepreneur. If you would like to review the audiobook, get in touch and I will be happy to send you a code to download a review copy from Audible. If you prefer reading, you can get the ebook and paperback editions on Amazon. The paperback edition is the perfect christmas gift to encourage your friends to become entrepreneurs! Show Notes: Audiobook on Audible.comAudiobook on Audible.co.ukE-book, paperback, or audiobook on Amazon.comE-book, paperback, or audiobook on Amazon.co.ukListen to Episode 184

This episode is about the main barrier to financial independence: consuming for status instead of investing for wealth. You have a choice: you can either buy status symbols or your can buy financial freedom, but not both. Topics covered in the episode include: Why everything you think about "the rich" is probably wrongHow most high income people blow their chance at financial independenceHow you can buy financial freedom instead of getting caught in the culture of capital consumption Show Notes: Stop Acting Rich by Thomas StanleyImage Credit: Jonas Nilsson Lee Listen to Episode 183

There are many different routes to financial independence. In past episodes I've interviewed people who have achieved financial independence through extreme saving as a salaried employee. My own route was through entrepreneurship—growing and selling a business. Whichever route you take, you need a strategy to address common challenges. There are three core questions that your plan needs to address: How do you plan to make good money? How do you plan to save a huge amount of what you make?How do you plan to invest what you have saved?  In this episode I suggest important things to consider for each of these three components of your plan. As always with money topics, you will need to do your own research. I'm not a financial advisor. Show Notes Previous episodes on InvestingThe Millionaire Next Door by Thomas StanleyHow I Found Freedom in an Unfree World by Harry BrowneImage: Sylwia Bartyzel Listen to Episode 182

Understanding your personal finances is crucial if you want to achieve financial independence and gain more freedom in your life. Most people don't learn anything useful about personal finances growing up and are not taught about it in school (I certainly wasn't). It took me a long time to work out what I really need to know about my personal finances. I hope that by sharing what I've learned, I can help you acquire financial literacy faster than I did.  This podcast episode covers the three most important things that you need to get in place immediately: Tracking and categorising of all your expenditure and incomeCalculating and tracking your net worthUsing a budget to stay on track with your financial goalsIn the episode I provide an overview of these three topics and explain how you can use personal finance software to help automate the process of tracking them.  As always, you are responsible for your money and you will need to do your own research. I am not a financial advisor. Show Notes: ibank for macMintThe Millionaire Next Door by Thomas StanleyImage credit Tracy O via Compfight cc Listen to Episode 181

We're selling our apartment, selling all our stuff, and leaving England behind to travel the world indefinitely. Really. This means taking minimalism to the next level, since we'll only take with us those few possessions that will fit into two bags that we can fly with. To help with the task of getting rid of so much, I've created an inventory of everything that I own. This is a useful tool that I first heard about from the blog Man Vs Debt and read about in Your Money or Your Life. I'm convinced that making an inventory of all your stuff can benefit everyone, not just those who plan to sell it all as we do. In this podcast episode, I explain some of the advantages of making an inventory of your stuff. An inventory can help you- get an overview of what you own (most people have lost track of all the stuff they have accumulated)identify the value of your possessions, as part of calculating your net worth.develop a more conscious ownership of your stuff, so that you can get rid of all the clutter that you are not using.make money by selling what you don't need. I used a dedicated application called Home Inventory to create my inventory. In the podcast I suggest some of the useful things you can do if you use a database or dedicated inventory app. Show Notes: Episode 133 Going MinimalistAll Previous Episodes on MinimalismPictures of Every Single Item We Own by Adam Baker (Man Vs Debt)Your Money or Your Life by Joe Dominguez and Vicky RubinHome Inventory App for MacListen To Episode 180 Photo: Everything must go. All my stuff, boxed up in 2011 (the last time I moved).