Patricia's Reviews > The New Frugality: How to Consume Less, Save More, and Live Better

The New Frugality by Chris Farrell

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664515
's review
Oct 10, 10

bookshelves: read-in-2010, money
Read in October, 2010

In some ways a run-of-the-mill financial planning book. Its main difference is that the advice comes from the "consume less" angle rather than the "budget and hope for the best" angle. There was a very good chapter about home ownership and how to figure out what the author calls your P/R ratio, the "Price to Rent" ratio. This chapter might be good to read for people who are currently renting and frustrated with it.

There is also a lot of talk about living long and prospering, a subject that I believe we who read a lot of financial planning books will see more of in the next ten years. The author points out that we all will probably not have the retirement our grandparents have and will keep working and working, at least part time until at least our 70s. He points out that our "retirement jobs" can be half time work and contain the best parts of our "career" jobs without all the baggage. Farrell gives the good advice to start to volunteer with organizations you care about in your forties, so that when you retire they know you, your strengths and you can work together.

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Comments (showing 1-2 of 2) (2 new)

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message 1: by Matt (new)

Matt Volunteer for a place for 30 years just in case you need something to do when you're older? THat sounds a little much.


Patricia Well, it's more establish a relationship with them, then instead of being 60 and saying out of the blue, "What can I do for you guys?" you and the organization will be familiar with each others strengths and needs and can perhaps work out something you can do for a paycheck.

Besides, you should be volunteering anyway.


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