I've quietly kept an eye on this forum....and now I'm moving in for the kill......
Here's my 2 cents on this book. I have
not read it, in its entirety, except for the couple of chapters Jesse has sent us. However, from all the reviews I've read, I will probably recommend it to some of the kids of my clients at work. Judging the book by its cover (pardon the pun!), it seems to be a wake-up call to the generation that has taken consumerism to its current astronomical heights. As I read in another blog, it seems to target not just the younger generation, but a younger generation who hasn't even started THINKING about saving or organizing its money in any kind of proactive way. Again, it's kind of like a wake-up call and in this respect, I hope a good percentage of the kids who have picked it up or zoned into the website, will feel the need for a change. I feel like Sethi is targeting the "techno" generation and trying to give them a wake up call to explore all the wonderful "technical tools" the financial world has to offer, in addition to the music, cell phone, ipod etc. stuff.......the message being, "...put your finances on auto drive and keep enjoying your 'consumerism' life...". I mean, if you're a techno-wizard-junkie, why not take advantage of it with all the tools the financial world has to offer? Kudos.
I guess I was a little disappointed when I read the "free" Chapter 5 we were all sent, as it pertains to his discussion about a "conscious spending plan" (read: YNAB). He never mentions YNAB, yet he markets Quicken, Mint, Lifehacker (blog)...to mention just a few....so why not YNAB? For various reasons beyond this forum, I have done a lot of research on some of the very high-level positive recommendations and reviews by highly educated, highly qualified individuals in regards to YNAB. Why wouldn't he mention YNAB (even if just once) in his book? Or even on his "Scrooge Strategy" page on his website? He goes on and on about how he hates "frugality" tips, yet he knows YNAB helps us intuitively be frugal, so why wouldn't he point to it. I'm sorry, but is MINT more attractive to the younger generation? Or wouldn't they want to "envelope" their money without thinking about it, which is what YNAB intuitively guides?
I have two kids 6 and 8 years old. It is my hope to someday start them on their own personal versions of YNAB and help show them how to plan their money. I might sprinkle my lessons with books like "I Will Teach You To Be Rich" or whatever the "books of the day" might be at the time. To me, "I Will Teach You To Be Rich" is a gate opener for the younger generation, opening the way to all the other money classics........so I'm positive on the book from this perspective..........but......
.....I'm really REALLY (
hint, hint) looking forward to a new recommendation for this YNAB book club.
