"The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life" by Jill Schlesinger explores the possibility of achieving your dream life without compromising financial security. In a world where many people stay in their jobs primarily for the steady paycheck, the book acknowledges that the COVID-19 pandemic has prompted individuals to reevaluate their careers and lifestyles, seeking more meaningful and fulfilling lives. It emphasizes the importance of thoughtful planning to make significant changes and introduces the concept of the "Great Money Reset."
The book introduces five key financial areas, referred to as the "Fabulous Five," that readers should assess before making major life changes. These areas include income, debt and liabilities, housing costs, monthly spending, and financial obligations to others. By thoroughly evaluating these aspects, individuals can gain confidence in their ability to make successful changes in their lives or identify areas where smaller adjustments may be more suitable.
One of the book's central ideas is the importance of controlling spending to bring dreams within reach. It suggests examining current habits and cutting unnecessary costs, as well as conducting short experiments to test one's ability to reduce spending. This approach can lead to financial empowerment and greater flexibility in pursuing one's dreams.
The book also provides guidance on negotiating for a better role within one's current job, offering a framework for making a "Big Ask" and understanding its implications for both the employer and the individual. It emphasizes the importance of being strategic, practicing, and maintaining a professional demeanor during negotiations to achieve desired outcomes.
Additionally, the book explores the role of home ownership in achieving financial flexibility and provides insights into when and how to sell or downsize one's home to fund major life changes. It emphasizes the need to make rational decisions based on financial considerations rather than emotional attachments.
Finally, the book encourages readers to design their own dream jobs, highlighting the possibility of pursuing passions and side-hustles while maintaining their current employment. It advises a gradual approach to entrepreneurship and offers guidance on transitioning from a side-hustle to a full-time pursuit. The book also emphasizes the importance of resilience and creativity in adapting to unexpected challenges in business.
In conclusion, "The Great Money Reset" by Jill Schlesinger offers practical advice and strategies for individuals looking to align their financial lives with their dreams and values. It emphasizes the importance of thoughtful planning, controlled spending, negotiation skills, and incremental changes to achieve a more fulfilling and authentic future.