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Worry-Free Money: The guilt-free approach to managing your money and your life
NATIONAL BESTSELLER "A fresh way to think about your money." David Chilton, author of The Wealthy Barber Stop budgeting. Start living. Managing your money can be frustrating and confusing. Life is expensive. Whether you make $30,000 or $130,000 a year, it can feel like you’re constantly broke. Can you afford that new car, that vacation, that night out? You think so, but it feels impossible to know. And rigid budgets that force you to spend your money in unrealistic ways (like $9.50 per week for pants) don’t make things any clearer. But what if there was a new way to manage your money? One that left you certain you had your bases covered—both for your monthly bills and your future retirement—and then let you enjoy your money by spending it. (Yes, really.) Enter Shannon Lee Simmons, a fresh voice in the world of personal finance, one who understands the new and very real pressures to survive modern life and keep up in the age of social media. Shannon doesn’t lecture, judge or patronize. The founder of the wildly popular New School of Finance, Shannon recognized that most of her thousands of financial planning clients felt broke, no matter what their income. And feeling broke can be as bad as actually being broke, because it leads to overspending and misery. So she came up with a new Worry-Free Money . Worry-Free Money takes a fresh approach to finances, looking at the root cause of the pressure to spend and showing why traditional budgets don’t work. It is a deeply practical book that will help you break the cycle of guilt, understand why you overspend, banish unhappy spending from your life, learn to recognize your f*ck it moments and find hope—and fun—in getting your money under control.
328 pages, Paperback
First published December 19, 2017
204 people are currently reading
2076 people want to read
About the author
Shannon Lee Simmons
4 books53 followersShannon is a Certified Financial Planner (CFP), Chartered Investment Manager (CIM), media personality, personal finance expert and founder of the New School of Finance.
Simmons is widely recognized as a trailblazer in the Canadian financial planning industry and an expert in Millennial personal finances and money in the digital world. She was named one of Canada’s Top 30 Under 30, the 2014 Notable Award for Best In Finance and New School of Finance recently won the 2016 Wealth Professional Award for Digital Innovation. She is a regular financial expert in the media and has a monthly column for Globe and Mail personal finance section and is the host of Coral TV’s Money Awesomeness.
Shannon has put a dollop of red nail polish on the top right of EVERY SINGLE calculator she’s ever had since high school…… why? We aren’t sure, and neither is she.
Simmons is widely recognized as a trailblazer in the Canadian financial planning industry and an expert in Millennial personal finances and money in the digital world. She was named one of Canada’s Top 30 Under 30, the 2014 Notable Award for Best In Finance and New School of Finance recently won the 2016 Wealth Professional Award for Digital Innovation. She is a regular financial expert in the media and has a monthly column for Globe and Mail personal finance section and is the host of Coral TV’s Money Awesomeness.
Shannon has put a dollop of red nail polish on the top right of EVERY SINGLE calculator she’s ever had since high school…… why? We aren’t sure, and neither is she.
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Displaying 1 - 30 of 163 reviews
January 19, 2019
I genuinely learned things from this book.It is simplistic in its philosophies but that was welcomed by a novice like me. Also it's Canadian so we don't have to skip chapters upon chapters about 401Ks
January 11, 2018
I want everyone to read this book!!! It revolutionized the way I handle my finances. I now know that I'm doing better financially than I thought I was. Implementing her strategies feels good and I can see me using it long-term. The examples she gives are a bit too upper-class for me to relate to but are still informative. Spread the Money Love!
April 28, 2019
Instead of reading this book, go get yourself a copy of Ramit Sethi's I Will Teach You To Be Rich. These books offer similar concepts, but Ramit gives much more solid advice and better actionable steps.
The big thing Ramit and Shannon have in common that I like is their form of anti-budget: put aside the money you need for rent, savings etc FIRST, then spend whatever is leftover, guilt-free.
But I like Ramit better since he advocates to ruthlessly hack away at expenses that you get no joy from.
Shannon does this too but I find her approach too.....wussy? (Oh no, watch out, I'm using some "Money Hate" language). Listing all recurring expenses as "fixed" costs that cannot be changed is silly.
A $200 phone bill, while a recurring expense, can be negotiated to a lower price. You can always change providers or change to a different plan.
$100 on cable and struggling to survive? Cut the cord!
Shannon lists gym memberships and other subsriptions under "fixed" expenses as well, and that bothered me. I'm all for gym memberships and paying for subscriptions if they truly bring you happiness, but these expenses are by no means "fixed."
Shannon also advises to have several bank accounts to keep track of money you can and can't spend. I agree, I think that's a good idea for some people. However, she and I disagree on the point that bank fees are okay. Nu-unh. You are paying the bank to borrow YOUR money. No no no. You lose tons of money to the bank this way.
RAMIT SAID NO FEES!!! (Probably my fave quote from Ramit's book - seriously, go read that book instead).
Also, Worry-Free Money is filled with far too many examples instead of actual steps to follow. I don't care how Sam and Dani are doing. How are you helping ME?
I understand that examples make the advice look more approachable and real, but there were far too many of them.
I couldn't get over this example: At one point Shannon tells the story of a couple buying a truck. Apparently, $25,000 for a new truck is a no-no. But $18,000 for a used truck is a-ok.
Is there seriously not an option to get a cheaper used truck??! I can't imagine that being the best deal available.
And although Shannon helps people save and budget, I was disappointed to find that there's zero info on investing.
Shannon also uses random buzz words throughout the book like "Hard Limit", "Fixed Expense", "F*ck-it Moment," "Life Checklist".... ick. Stop saying "fetch," it's not going to happen.
And she's clearly into astrology.
"'...The part that wants the house in the suburbs and the family, and the other part that wants to be more carefree and travel for six months a year.' (He's a Gemini. So, you know, it made sense.)"
"Being an overachieving Capricorn and hell-bent for leather towards financial security, I headed straight to the Internet and started researching places for sale."
Barf. This is not for me. I must not be her target demographic.
Worry-Free Money just didn't click with me.
But if you are just starting out and want basic, encouraging, fluffy financial advise, this book could be for you.
The big thing Ramit and Shannon have in common that I like is their form of anti-budget: put aside the money you need for rent, savings etc FIRST, then spend whatever is leftover, guilt-free.
But I like Ramit better since he advocates to ruthlessly hack away at expenses that you get no joy from.
Shannon does this too but I find her approach too.....wussy? (Oh no, watch out, I'm using some "Money Hate" language). Listing all recurring expenses as "fixed" costs that cannot be changed is silly.
A $200 phone bill, while a recurring expense, can be negotiated to a lower price. You can always change providers or change to a different plan.
$100 on cable and struggling to survive? Cut the cord!
Shannon lists gym memberships and other subsriptions under "fixed" expenses as well, and that bothered me. I'm all for gym memberships and paying for subscriptions if they truly bring you happiness, but these expenses are by no means "fixed."
Shannon also advises to have several bank accounts to keep track of money you can and can't spend. I agree, I think that's a good idea for some people. However, she and I disagree on the point that bank fees are okay. Nu-unh. You are paying the bank to borrow YOUR money. No no no. You lose tons of money to the bank this way.
RAMIT SAID NO FEES!!! (Probably my fave quote from Ramit's book - seriously, go read that book instead).
Also, Worry-Free Money is filled with far too many examples instead of actual steps to follow. I don't care how Sam and Dani are doing. How are you helping ME?
I understand that examples make the advice look more approachable and real, but there were far too many of them.
I couldn't get over this example: At one point Shannon tells the story of a couple buying a truck. Apparently, $25,000 for a new truck is a no-no. But $18,000 for a used truck is a-ok.
Is there seriously not an option to get a cheaper used truck??! I can't imagine that being the best deal available.
And although Shannon helps people save and budget, I was disappointed to find that there's zero info on investing.
Shannon also uses random buzz words throughout the book like "Hard Limit", "Fixed Expense", "F*ck-it Moment," "Life Checklist".... ick. Stop saying "fetch," it's not going to happen.
And she's clearly into astrology.
"'...The part that wants the house in the suburbs and the family, and the other part that wants to be more carefree and travel for six months a year.' (He's a Gemini. So, you know, it made sense.)"
"Being an overachieving Capricorn and hell-bent for leather towards financial security, I headed straight to the Internet and started researching places for sale."
Barf. This is not for me. I must not be her target demographic.
Worry-Free Money just didn't click with me.
But if you are just starting out and want basic, encouraging, fluffy financial advise, this book could be for you.
January 10, 2019
Great book if you're looking for a happier way to budget your money so you don't feel so strapped down. I'm a finance major so I love learning new ways of organizing finances and budgeting so I enjoyed this book, it's very practical.
Basically you figure out where all your money is going, and mark it down as either a fixed expense (which you can't change, like hydro, car insurance, etc.), and everything else you spend your money on. You look at your expenses and find out what's most and least important to you and get rid of the expenses that are unimportant. That way you can create an Emergency account, a Short term savings account (trips, upgrade car, etc), and a long term savings plan (retirement). The thing that's different about this book is that Simmons sections out a sort of allowance, a guilt free account that you're allowed to spend on whatever you wish, literally called the "Happy spending account."
I'd say the majority of the book is going through examples of different people's finances. Whether it be a young couple, a divorcee, an older couple trying to retire, literally all walks of life. There are soooo many examples walking through all their expenses and cutting out what and prioritizing what they really want.
When we are faced with situations that we want to spend additional money we need to sit back and calculate if it’s within our means, and ensure we would still be able to pay our fixed expenses and savings.
Write down every category of expenses and rate from 1-5, 5 being must and 1 being unimportant to you, work through the 1-3’s to see if you can eliminate those expenses.
The psychological benefit of having an emergency account is better than putting a few grand into your debt repayment plan. Me personally, instead of putting it into a 1% savings account which isn’t even beating inflation out it into a GIC that you can tap into if necessary, in your portfolio anyway you should have some GIC’s anyways, low risk investments. But that's just me, I know most people would benefit psychologically by having an emergency account.
Basically you figure out where all your money is going, and mark it down as either a fixed expense (which you can't change, like hydro, car insurance, etc.), and everything else you spend your money on. You look at your expenses and find out what's most and least important to you and get rid of the expenses that are unimportant. That way you can create an Emergency account, a Short term savings account (trips, upgrade car, etc), and a long term savings plan (retirement). The thing that's different about this book is that Simmons sections out a sort of allowance, a guilt free account that you're allowed to spend on whatever you wish, literally called the "Happy spending account."
I'd say the majority of the book is going through examples of different people's finances. Whether it be a young couple, a divorcee, an older couple trying to retire, literally all walks of life. There are soooo many examples walking through all their expenses and cutting out what and prioritizing what they really want.
When we are faced with situations that we want to spend additional money we need to sit back and calculate if it’s within our means, and ensure we would still be able to pay our fixed expenses and savings.
Write down every category of expenses and rate from 1-5, 5 being must and 1 being unimportant to you, work through the 1-3’s to see if you can eliminate those expenses.
The psychological benefit of having an emergency account is better than putting a few grand into your debt repayment plan. Me personally, instead of putting it into a 1% savings account which isn’t even beating inflation out it into a GIC that you can tap into if necessary, in your portfolio anyway you should have some GIC’s anyways, low risk investments. But that's just me, I know most people would benefit psychologically by having an emergency account.
February 17, 2021
Good for beginners, but, for my taste, too many anecdotes and superficial advice.
September 27, 2018
Loved this book! Shannon writes about finances in a fun and relatable way. She breaks down the basics and makes you feel like what you want in life when it comes to money is actually achievable. This is a must read for everyone!
"Getting control of your finances means living within your means without hating your life."
"Getting control of your finances means living within your means without hating your life."
January 14, 2020
This was a simple read that was easy to follow. I love that fact that it was Canadian. I find it so hard to follow other books because Canadians don’t have the same systems such as 401k. I genuinely was able to learn from this book!
August 6, 2020
This book was fantastic for understanding some of the psychology around money and budgeting, as well as practical, tactical advice. I would say this + Wealthing Like Rabbits is my new go-to financial starter kit for those looking to learn more about personal finance.
December 10, 2018
The most different, simplest, and emotionally intelligent personal finance book I've read. And in my career I've gone through quite a few. I'm what people would call "good" with money - and I changed my own approach after reading this.
Shannon Lee Simmons forgets all the regular advice about spending and very simply says: pay your essentials; make some savings; then spend the rest of your money guilt-free because you've taken care of the important things. She's not prescriptive with percentages or categories or amounts. Instead, she works with what's realistic. And always takes into account how money makes you feel (and believe me I'm not a touchy-feely guy). Because if it's always weighing you down with guilt you'll eventually ditch your plan and go back to old habits.
So pick this up. Change or tweak your money. And feel great about it.
Shannon Lee Simmons forgets all the regular advice about spending and very simply says: pay your essentials; make some savings; then spend the rest of your money guilt-free because you've taken care of the important things. She's not prescriptive with percentages or categories or amounts. Instead, she works with what's realistic. And always takes into account how money makes you feel (and believe me I'm not a touchy-feely guy). Because if it's always weighing you down with guilt you'll eventually ditch your plan and go back to old habits.
So pick this up. Change or tweak your money. And feel great about it.
July 10, 2019
I thought this was a very good book, more so for those who have not had any experience in managing their money (which I personally think finances should be taught in high school). Not the best Financial book I have read, but I did like it and got one or two nuggets of information that I will carry with me.
Shannon pointed out a lot of new influences that contribute to how we spend our money - "fear of missing out", social media, fitting in, etc. I did like how she brought this into the mix - this will probably resonate more with a younger generation.
One thing she talked about, that I have been subscribing to in my way of thinking about spending money is it a "need" vs a "want". Think about why you want to buy that and what is its emotional return on investment in your life.
Definitely worth the read if you need that extra help with your money.
Shannon pointed out a lot of new influences that contribute to how we spend our money - "fear of missing out", social media, fitting in, etc. I did like how she brought this into the mix - this will probably resonate more with a younger generation.
One thing she talked about, that I have been subscribing to in my way of thinking about spending money is it a "need" vs a "want". Think about why you want to buy that and what is its emotional return on investment in your life.
Definitely worth the read if you need that extra help with your money.
March 9, 2018
Did I and the other reviewers read the same book? This book was incredibly basic and offered zero valuable insight. Unless you want to hear this woman talk at great lengths about her choice of couch, do yourself a favour and get The Wealthy Barber instead.
May 26, 2018
Well written. Shannon 's approach is very realistic, and up to date. Amust read for everyone whether you are in your 20's or 50's . I read the Wealthy Barber years ago but I definitely can say I enjoyed reading this book. better. I felt like I was listening to Shannon speaking.
March 27, 2023
This book definitely could have been crunched into 20 pages. There were just too many client stories that pretty much resulted in the same financial tip - have an emergency savings account, meaningful savings, and short-term savings. The rest you can spend however you want until the last dollar.
March 17, 2020
I found this book recommended on Half Banked financial website (super recommend that website btw), and immediately borrowed it from the library.
I was initially hoping for some Canadian-specific general financial advice about investing and financial planning. I didn't get the investing piece (that's okay) but I did get a lot out of this book.
Shannon Lee Simmons takes a really no-nonsense, accessible approach about realistically adjusting your spending and creating financial plans for you. A lot of the tips she includes I've either done or try to do (which made me feel relieved not going to lie) but I also did a lot of the exercises she provided and reflecting on my financial goals.
While, like any advice book, she has "terms" for different things (like Hard Limits on spending, Meaningful Savings, Happy Spending vs. Unhappy Spending) it's not cheesy or annoying for me personally - you have to call your savings something after all!
This isn't for people who are genuinely, truly poor/living under the poverty line/facing systemic societal money issues. And she acknowledges that at the beginning of the book. But if you're someone who makes at least okay money but struggles with how to 'budget', how to pay down debt, how to avoid being house-poor or constantly stressed about money, or just want to get a new perspective on your finances, it's worth taking a look.
And it's Canadian. Which I really, really appreciated.
Also build an emergency savings fund. It will save your ass. Guaranteed.
I was initially hoping for some Canadian-specific general financial advice about investing and financial planning. I didn't get the investing piece (that's okay) but I did get a lot out of this book.
Shannon Lee Simmons takes a really no-nonsense, accessible approach about realistically adjusting your spending and creating financial plans for you. A lot of the tips she includes I've either done or try to do (which made me feel relieved not going to lie) but I also did a lot of the exercises she provided and reflecting on my financial goals.
While, like any advice book, she has "terms" for different things (like Hard Limits on spending, Meaningful Savings, Happy Spending vs. Unhappy Spending) it's not cheesy or annoying for me personally - you have to call your savings something after all!
This isn't for people who are genuinely, truly poor/living under the poverty line/facing systemic societal money issues. And she acknowledges that at the beginning of the book. But if you're someone who makes at least okay money but struggles with how to 'budget', how to pay down debt, how to avoid being house-poor or constantly stressed about money, or just want to get a new perspective on your finances, it's worth taking a look.
And it's Canadian. Which I really, really appreciated.
Also build an emergency savings fund. It will save your ass. Guaranteed.
March 8, 2019
I really liked this book. I learned things!! And didn’t feel frustrated/lost/bored while reading about personal finances!! It’s practical, realistic, and has a great resource section… and! It’s! Canadian! Simmons tone is warm and accessible — and who would have guessed I would ever describe a personal finance guide as a book I was eager to return to and continue reading???? ¯\_(ツ)_/¯. A note: Simmons acknowledges her book is likely to be most helpful for those working with a steady middle-ish range of income, and it covers the basics. Simmon’s approaches are refreshing — no budgeting, a ‘hard-limit’, happy vs. unhappy spending — and they all stem from a philosophy rooted in looking at societal pressures/human nature. There’s no shaming tone, her strategies, systems, and tips are realistic and relevant, and it felt largely ~ in-touch ~ throughout (I also really enjoyed the variety of her client examples/stories peppered throughout). Would definitely recommend.
February 22, 2019
Completely and totally life-changing!
February 13, 2020
I saw her speak at the Regina Public Library and really liked her personality and approach to personal finances. Some of what she said in her talk totally changed the way I look at budgeting. I would recommend the book to anyone — it’s very reader-friendly, with real-life examples of situations many of us find ourselves in. I actually did all of the exercises and found them quite helpful. Looking forward to putting this new system in action!
April 3, 2021
Game changer for building good $$ habits. Highly recommend!!!
October 9, 2023
Very realistic, flexible, emotionally intelligent take on managing finances - such a great read!
January 25, 2023
I know Shannon indirectly and I am so impressed with her work. She is very down to earth and relatable in this book and the Ikea story is what got me hooked. The book felt like it was dragging closer to the end, but I enjoyed the content and it made me think about how to better structure my relationship with my family and money!
Thanks Shannon!!
Thanks Shannon!!
December 26, 2022
Have read this book twice. So helpful!
July 11, 2020
A great, comprehensive and realistic approach for people struggling with money. This book is perfect for people who want to start getting their financial life in order.
January 27, 2020
Such a good read! Love the fresh perspective on finances. Shannon's humor used made for an interesting read. I love the ease of implementing her plan and we immediately followed through. My only regret is that I wish I had read it sooner!
January 6, 2021
What? A book about (non)budgeting and finances AND bettering life? Count me in. I drank the kool-aid. I'm in the Worry-Free 'cult' and telling everyone I know about it. Encouraging book on not only getting a grasp on money but on not feeling inadequate and guilty.
February 10, 2021
Great resource and super motivating! Right after the first few chapters, I had my notebook out and had figured out my expenses as pr the book. I also sent an email to my bank and asked if I can open up a secondary bank account as suggested. I truly think this book is a perfect got to for those looking to freshen up their financial situation. Some of the information was quite repetitive (like the examples) but overall, definitely worth the read!
March 11, 2019
It’s rare that I can say I loved reading a finance book, but this is one. The author really takes a holistic approach to finance, not just looking at it in a vacuum as an isolated facet of life. Love it or hate it, money is what makes the world go round, and it’s necessary for life. I appreciate the way the author flips the script away from the traditional strict budgeting approach to one that considers both musts-dos and wants, and ultimately guides you to making sound decisions based on happiness. Happiness and finance are in fact not mutually-exclusive in this approach. Another positive- this system is equally appropriate for low earners and high earners. There are excellent resources, ample real-life examples, and it’s ultimately very readable and, fun (no, really). Highly recommended for anyone who has experienced a sense of financial dread or felt like they aren’t living up to financial/life expectations. This was a library loan, but I’m purchasing a copy for my personal library so I may highlight and reference it time and again.
January 2, 2018
This is one of the best and most practical money books I've ever read (and I've read a lot!)
How do you answer the question "can I afford this?" with any kind of accuracy? Without going into debt? Without sacrificing your financial future? How do you know how much you should be putting away?
The book starts by covering money mindset, FOMO, and lifestyle expectations so you understand how/why you feel the way you do about your money. One of my favourite things is how she acknowledges that we get ourselves into trouble through a series of "F*** it moments."
Everything is so relatable and written in a modern day perspective and understanding (aka, credit cards are not the devil, but you need to really understand how to use to your advantage).
Then she dives into how to actually break down your monthly spending into a system THAT MAKES SENSE and works. It helps you answer the question "can i afford this?" with a real system and understanding behind why or why not, and what happens if/when you decide to buy something you can't afford. She equips you with a more educated understanding of finances so that you make less poor choices, and really understand what you can and cannot afford.
Then—one of the missing pieces—she explains how to put into a place a STRATEGIC BANKING PLAN. This is where she gets specific about what happens to your money after each paycheck, and how to make sure you don't feel stretched too thin.
This is the only system I've read and implemented that I can actually see working in the long term, and really has helped me understand current day financial situation, plus also allows me to understand the future impact of my day to day decisions. I was spreadsheeting the crap out of everything during and after reading the book.
Another great concept? Distinguishing between happy and unhappy spending, so you actually have a budget for the things you love, and really work to reduce the "stuff" that doesn't bring you a ton of happiness.
SO many good nuggets, just buy the damn book. This is the most clear picture I've ever had of my finances, and I'm actually excited to use this system.
It's also really great to see so many real-world examples of people's finances along with her recommendations, and shows how all the numbers shake out over time.
It's maybe cliche to say, but it really is a game-changer!!
How do you answer the question "can I afford this?" with any kind of accuracy? Without going into debt? Without sacrificing your financial future? How do you know how much you should be putting away?
The book starts by covering money mindset, FOMO, and lifestyle expectations so you understand how/why you feel the way you do about your money. One of my favourite things is how she acknowledges that we get ourselves into trouble through a series of "F*** it moments."
Everything is so relatable and written in a modern day perspective and understanding (aka, credit cards are not the devil, but you need to really understand how to use to your advantage).
Then she dives into how to actually break down your monthly spending into a system THAT MAKES SENSE and works. It helps you answer the question "can i afford this?" with a real system and understanding behind why or why not, and what happens if/when you decide to buy something you can't afford. She equips you with a more educated understanding of finances so that you make less poor choices, and really understand what you can and cannot afford.
Then—one of the missing pieces—she explains how to put into a place a STRATEGIC BANKING PLAN. This is where she gets specific about what happens to your money after each paycheck, and how to make sure you don't feel stretched too thin.
This is the only system I've read and implemented that I can actually see working in the long term, and really has helped me understand current day financial situation, plus also allows me to understand the future impact of my day to day decisions. I was spreadsheeting the crap out of everything during and after reading the book.
Another great concept? Distinguishing between happy and unhappy spending, so you actually have a budget for the things you love, and really work to reduce the "stuff" that doesn't bring you a ton of happiness.
SO many good nuggets, just buy the damn book. This is the most clear picture I've ever had of my finances, and I'm actually excited to use this system.
It's also really great to see so many real-world examples of people's finances along with her recommendations, and shows how all the numbers shake out over time.
It's maybe cliche to say, but it really is a game-changer!!
March 6, 2022
Worry-Free Money is a book that I think everyone I know should read.
This book was incredibly informative while also interesting and well written. It was surprisingly validating. The author is transparent about which financial groups will benefit from this book: typically middle class and higher income earners. Lower-middle class earners and those on starter salaries can benefit also. As with the other financially focused books I have picked up this year, I am doing a “No Shop New Year” and looking for advice and motivation for a more sustainable strategy when I complete my challenge.
The author takes a holistic approach to finances and budgeting, even arguing against more conservative styles of financial planning. She recognizes that the way you spend money is an investment on how much you enjoy life and discusses the idea of EROI, emotional return on investment. She distinguishes between hard spending (things you must pay every month like mortgage/ rent, phone bills, car payments, savings, etc. that have a set monthly fee) and spending money (everything else; groceries, bills, clothes, entertainment, etc. spending that fluctuates every month). She makes the case that the spending money is really all you have control over and thus the need for considering how these purchases make you frustrated or happy. In later chapters, she looks more closely at things like saving for a specific purchase and emergency funds.
The Author
This a great author because you can tell this book is written with genuine care and good intentions. The author is realistic about the emotional attachment people have to money in a way that is validating to the reader.
“When we work hard, we want to be rewarded. Buying things and experiences that fill us up emotionally are ways of celebrating our achievements, enjoying the fruits of our labour. Money is the reason why we work.”
She discusses how feeling inadequate, specifically financially, feeling like we cannot afford the life we want leads to overspending and being more broke. She discusses what she calls, “F*ck-It Moments”, which as the name suggests, are when we feel deprived and give up - likening strict budgeting to dieting. She offers a lot of insight and commentary on this cycle of feeling broke and inadequate using emotional vocabulary like guilt, frustrated, ashamed, fear, etc. She shows a good understanding of feeling suffocated or restricted by your budget through personal anecdotes and commentary.
The chapter called, “The Joneses and The Life Checklist” offers up a fresh look on what keeping up really looks like and how it can manifest into your lifestyle without being the flashy house, car, or handbags we often liken it to. She discusses how it usually has more to do with looking at our peers or personal expectations and feeling like we should have achieved more by now.
“Ask yourself: What are my lifestyle expectations? How do I measure my financial success relative to my peers. Who are my Joneses? There are bound to be some Life Checklist goals that you have already accomplished and some that you fantasize about achieving, even if they aren’t realistic in terms of what you can actually afford.”
The Not-So Good
There were many skimmable sections like the number of specific case studies explored. They cannot all apply to everyone but there is a high likelihood you will find at least one applicable to you. I think they all hold valuable truths, if not directly in the numbers, but in the commentary.
Some of the example costs were a bit unrealistic though. They were lower than they should have been and made the savings plans and sacrifices easier to implement than they would be in real life. For example, my husband, an avid cyclist, and I laughed really hard at one case study where the husband wanted to save for a $700 CAD triathlon bike, taxes included. Triathlon bikes are notoriously expensive with the cheapest new ones currently retailing for about $3,000. He says that back in 2017 it is plausible that a second hand one could be that price, but he is convinced it is a typo and supposed to be $7,000. These things didn’t necessarily change the value of the message, but they detracted from the value of the case studies.
There were also some uses of slang or verbiage like, ‘legit’, that seemed out of place in this otherwise thoughtful book. I think the author was attempting to appeal to a younger audience but it just came off as awkward. At times it did make me question the author, was she joking or serious? Should I be taking her seriously?
“Being an overachieving Capricorn and hell-bent for leather towards financial security…”
There was a lot of stuff in this book that I wish I had read ten years ago, so perhaps it was intended for younger people to connect with.
Final Thoughts
I gave this book 4/ 5 stars, even though there were sections that didn’t apply to my situation, there were many good takeaways on how to better allocate my finances. I started to add EROI, emotional return on investments, to my monthly financial spreadsheets. This is a scale of 1 /5 used to classify your level of enjoyment on a purchase (1 being frustrated). This has been such a great addition to my records because it helps me, as the author suggests in the book, look for areas in my spending that I can eliminate to save more. An example of how this changed my behavior is bringing coffee from home instead of buying it from a cafe near work. At the end of the month, I found my EROI on work coffee was really low. It informs spending I will make in the future, knowing things like books, enjoying coffee at a cafe in free time, and gift giving all have a high EROI. This is just one example of the tangible recommendations made in the book that I have already implemented into my lifestyle.
I highly recommend this book to anyone looking for better strategies to save money and who now feels lost when making purchases. True to the title, this book really does show you how to allocate your income to spend money on things you enjoy while also making room for it in your budget and not worrying about every purchase you make.
“Sometimes you have to redefine what success looks like for you, and that may mean opting out of some of the items on your Life Checklist. It means you are choosing to live differently from how you thought you would. It means you’re choosing happiness.” (Ch. 13 Making Financial Lemonade)
“Remember as well that life isn't fair. Bad things sometimes happen to good people, and vice versa. That doesn't make it easier to swallow, but it happens. And there’s no point dwelling on things you couldn't have known in advance and cannot control.” (Ch. 15 No Regrets: There’s More to Life Than Money)
This book was incredibly informative while also interesting and well written. It was surprisingly validating. The author is transparent about which financial groups will benefit from this book: typically middle class and higher income earners. Lower-middle class earners and those on starter salaries can benefit also. As with the other financially focused books I have picked up this year, I am doing a “No Shop New Year” and looking for advice and motivation for a more sustainable strategy when I complete my challenge.
The author takes a holistic approach to finances and budgeting, even arguing against more conservative styles of financial planning. She recognizes that the way you spend money is an investment on how much you enjoy life and discusses the idea of EROI, emotional return on investment. She distinguishes between hard spending (things you must pay every month like mortgage/ rent, phone bills, car payments, savings, etc. that have a set monthly fee) and spending money (everything else; groceries, bills, clothes, entertainment, etc. spending that fluctuates every month). She makes the case that the spending money is really all you have control over and thus the need for considering how these purchases make you frustrated or happy. In later chapters, she looks more closely at things like saving for a specific purchase and emergency funds.
The Author
This a great author because you can tell this book is written with genuine care and good intentions. The author is realistic about the emotional attachment people have to money in a way that is validating to the reader.
“When we work hard, we want to be rewarded. Buying things and experiences that fill us up emotionally are ways of celebrating our achievements, enjoying the fruits of our labour. Money is the reason why we work.”
She discusses how feeling inadequate, specifically financially, feeling like we cannot afford the life we want leads to overspending and being more broke. She discusses what she calls, “F*ck-It Moments”, which as the name suggests, are when we feel deprived and give up - likening strict budgeting to dieting. She offers a lot of insight and commentary on this cycle of feeling broke and inadequate using emotional vocabulary like guilt, frustrated, ashamed, fear, etc. She shows a good understanding of feeling suffocated or restricted by your budget through personal anecdotes and commentary.
The chapter called, “The Joneses and The Life Checklist” offers up a fresh look on what keeping up really looks like and how it can manifest into your lifestyle without being the flashy house, car, or handbags we often liken it to. She discusses how it usually has more to do with looking at our peers or personal expectations and feeling like we should have achieved more by now.
“Ask yourself: What are my lifestyle expectations? How do I measure my financial success relative to my peers. Who are my Joneses? There are bound to be some Life Checklist goals that you have already accomplished and some that you fantasize about achieving, even if they aren’t realistic in terms of what you can actually afford.”
The Not-So Good
There were many skimmable sections like the number of specific case studies explored. They cannot all apply to everyone but there is a high likelihood you will find at least one applicable to you. I think they all hold valuable truths, if not directly in the numbers, but in the commentary.
Some of the example costs were a bit unrealistic though. They were lower than they should have been and made the savings plans and sacrifices easier to implement than they would be in real life. For example, my husband, an avid cyclist, and I laughed really hard at one case study where the husband wanted to save for a $700 CAD triathlon bike, taxes included. Triathlon bikes are notoriously expensive with the cheapest new ones currently retailing for about $3,000. He says that back in 2017 it is plausible that a second hand one could be that price, but he is convinced it is a typo and supposed to be $7,000. These things didn’t necessarily change the value of the message, but they detracted from the value of the case studies.
There were also some uses of slang or verbiage like, ‘legit’, that seemed out of place in this otherwise thoughtful book. I think the author was attempting to appeal to a younger audience but it just came off as awkward. At times it did make me question the author, was she joking or serious? Should I be taking her seriously?
“Being an overachieving Capricorn and hell-bent for leather towards financial security…”
There was a lot of stuff in this book that I wish I had read ten years ago, so perhaps it was intended for younger people to connect with.
Final Thoughts
I gave this book 4/ 5 stars, even though there were sections that didn’t apply to my situation, there were many good takeaways on how to better allocate my finances. I started to add EROI, emotional return on investments, to my monthly financial spreadsheets. This is a scale of 1 /5 used to classify your level of enjoyment on a purchase (1 being frustrated). This has been such a great addition to my records because it helps me, as the author suggests in the book, look for areas in my spending that I can eliminate to save more. An example of how this changed my behavior is bringing coffee from home instead of buying it from a cafe near work. At the end of the month, I found my EROI on work coffee was really low. It informs spending I will make in the future, knowing things like books, enjoying coffee at a cafe in free time, and gift giving all have a high EROI. This is just one example of the tangible recommendations made in the book that I have already implemented into my lifestyle.
I highly recommend this book to anyone looking for better strategies to save money and who now feels lost when making purchases. True to the title, this book really does show you how to allocate your income to spend money on things you enjoy while also making room for it in your budget and not worrying about every purchase you make.
“Sometimes you have to redefine what success looks like for you, and that may mean opting out of some of the items on your Life Checklist. It means you are choosing to live differently from how you thought you would. It means you’re choosing happiness.” (Ch. 13 Making Financial Lemonade)
“Remember as well that life isn't fair. Bad things sometimes happen to good people, and vice versa. That doesn't make it easier to swallow, but it happens. And there’s no point dwelling on things you couldn't have known in advance and cannot control.” (Ch. 15 No Regrets: There’s More to Life Than Money)
Read
January 14, 2019If I could give this book endless negative stars, I totally would. Alas, there is no such option on Goodreads. I read this book till about 23%. Every page was a struggle, and I DNF. I flipped through the rest of the book, and no, it didn’t get any better.
It’s been a really long time since a book rubbed me the wrong way so much. This started from the first page and didn’t end. At one point, the author uses F-word at every other sentence of one of the chapters. And I cringe. I hate when people swear.
To sum up my feelings about this book: WHAT she says is wrong, and HOW she says it is even more wrong. On top of that, I looked up the author on LinkedIn and on her website, and I have very strong doubts in her having the necessary knowledge and experience to advise anything to anybody, let alone writing a book about money.
I don’t know the author personally, but she is a colleague here in Toronto, Canada. We work exactly in the same field. I have a lot of compassion and empathy for all people, and even more so for women in finance. It’s an old boys’ club, no matter if somebody tells you otherwise. I really wanted to be kind, but I just can’t. And it makes me very sad.
Before you follow somebody’s advice, figure out if they are the right person to ask. Please research if they have knowledge, experience, and education to even give any advice to you.
I could have said a lot more, and maybe I will. But I want to stop right here for now. If you want to read about money, please read something else, just not this book.
It’s been a really long time since a book rubbed me the wrong way so much. This started from the first page and didn’t end. At one point, the author uses F-word at every other sentence of one of the chapters. And I cringe. I hate when people swear.
To sum up my feelings about this book: WHAT she says is wrong, and HOW she says it is even more wrong. On top of that, I looked up the author on LinkedIn and on her website, and I have very strong doubts in her having the necessary knowledge and experience to advise anything to anybody, let alone writing a book about money.
I don’t know the author personally, but she is a colleague here in Toronto, Canada. We work exactly in the same field. I have a lot of compassion and empathy for all people, and even more so for women in finance. It’s an old boys’ club, no matter if somebody tells you otherwise. I really wanted to be kind, but I just can’t. And it makes me very sad.
Before you follow somebody’s advice, figure out if they are the right person to ask. Please research if they have knowledge, experience, and education to even give any advice to you.
I could have said a lot more, and maybe I will. But I want to stop right here for now. If you want to read about money, please read something else, just not this book.
August 8, 2025
It took someone like Shannon Lee Simmons to make me : 1) pick up a book about personal finances 2) read it almost compulsively 3) take and apply the advices and 4) get (almost) excited about building a retirement plan.
Briefly, I learned a great deal reading this book and I do recommend it! Having finished reading it, I feel like I just discovered how short-sighted I was, since Simmons made me try a pair of glasses. I don't feel as dumb anymore, thanks to the guilt-free, shame-free approach of the author and her realism. I loved how she just preached for "money love" talk instead of "money-hate", how she encourages vulnerability and honesty around money. I found her approach to be, in part, intuitive. It really aligned with my vision.
Simmons shares stories of her own, of friends and clients, all of which have different financial backgrounds and lifestyle. She share stories of neverending line of credits, of bad breakup that leave you alone and broke. She shares stories of families being house-poor, students who struggle with money and single-moms who wonder how and when to retire.
The reason I gave three star is basically because the book is soooo long. So many passages could have been cut out, or shortened for it to be as effective in its message. Also, her reflections on life and the suggested introspective “life checklist” questions were too simplistic for me to gain much from it.
Briefly, I learned a great deal reading this book and I do recommend it! Having finished reading it, I feel like I just discovered how short-sighted I was, since Simmons made me try a pair of glasses. I don't feel as dumb anymore, thanks to the guilt-free, shame-free approach of the author and her realism. I loved how she just preached for "money love" talk instead of "money-hate", how she encourages vulnerability and honesty around money. I found her approach to be, in part, intuitive. It really aligned with my vision.
Simmons shares stories of her own, of friends and clients, all of which have different financial backgrounds and lifestyle. She share stories of neverending line of credits, of bad breakup that leave you alone and broke. She shares stories of families being house-poor, students who struggle with money and single-moms who wonder how and when to retire.
The reason I gave three star is basically because the book is soooo long. So many passages could have been cut out, or shortened for it to be as effective in its message. Also, her reflections on life and the suggested introspective “life checklist” questions were too simplistic for me to gain much from it.
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