The Richer by the Day blog recently posted a review of my book Passion Saving: The Path to Plentiful Free Time and Soul-Satisfying Work.
It’s good stuff. It’s clear that the blog author spent a good bit of time going though the entire book and thinking through a number of the issues raised.
Juicy Excerpt: While both Passion Saving and Your Money or Your Life advocate finding meaning in life and focusing energy on those activities, a major philosophical difference between the two books remains. In my review of Your Money or Your Life, I mentioned how the concept of “enough” was personally liberating and something that I could really relate to. Passion Saving seems to advise that you can never have enough…. Past a very low basic threshold, spending more doesn’t bring me joy. The claim that “spending adds to life” is true, but only until you reach the peak on the fulfillment curve. After that, additional spending takes away from life.
Juicy Excerpt: Passion Saving seemed to be contradictory at times and focused not on taking the right actions, but taking the right actions for the right reasons. On this last point I got the sense that saving 20% “blindly” by paying yourself first would be seen as an inferior method to saving 15% in ways that you were passionate about. To me, the result is much more important than the method even if it doesn’t have a catchy title or start a movement. The self proclaimed bumper sticker summary of Passion Saving, “Save the Way You Spend” goes to the main reason I had a hard time connecting with this book. I hardly spend any money, so should I also hardly save any? While I seem to have many common goals as the author, we seem to have different methods and motivations to achieve those goals.
Rob’s Comment: The author of this review does a great job at hitting on some important ways in which the Passion Saving approach differs from the Your Money or Your Life approach. He’s right to say that I believe that one can always add to one’s enjoyment of life through additional spending. I can think of many things that I would spend more money on if I had more money available to me. And, if I reached a point where there was nothing else I wanted to spend money on for my personal enjoyment, I could finance start-up businesses or give to charities. I don’t possess an anti-spending mindset and I think it is fair to say that the authors of Your Money or Your Life do. The review describes the differing positions effectively. The author of the review doesn’t share my take but he is fair in his presentation of the differences. I am grateful for the considerable effort he put into this review.