The Simple Dollar Morning Roundup: Announcing The Simple Dollar Book Club

One idea that I’ve had churning about inside of me for a while now is the idea of starting an online book club for personal finance books. After mulling over the idea for months and looking at various ways of doing it, I’ve decided to give it a shot. So consider this an announcement of The Simple Dollar Book Club.

How will it work? Every other month, I am going to start reading a top-shelf personal finance book in detail, writing an extensive commentary on it. My plan is for it to take the entire month or a little bit more, so I can break the book down into pieces that are ten to fifteen pages in length.

Each day, I’ll post one of these pieces for discussion. If you have the book at home, you can read the ten or so pages I’m talking about and then offer your own commentary in the comments section, or even if you haven’t read the book, you can post your own thoughts. From there, the discussion can pretty much roll whatever way everyone wants it to go by adding their own voice to the conversation.

The best way for you to get something out of this is to read along at home, a few pages each night, then read the discussion each day. I’ll provide some pretty clear guidance as to how much I’m going to cover the next day so you have an idea of how much to read. I’ll also link all of the discussions forward each day so that, if you get behind, you can easily follow the discussion and catch up. Even better, if you choose not to read the book now and then read it later, the discussions will be archived and waiting for you.

Your MoneyInterested? The Simple Dollar Book Club will start its inagural book on October 1 – that book will be Your Money or Your Life by Joe Dominguez and Vicki Robin. I previously reviewed this book and found it to be an incredibly valuable read. If you want to follow along, I encourage you to check out Your Money or Your Life from your library or pick it up on amazon.com before October 1.

What about other book choices? I’m giving this book club a trial run in October; after it’s over, I’ll post asking for feedback on the book club. If the club idea is well-liked and the readers want to continue it, I’ll post a short list of books for you to choose from for the next entry in the book club.

I hope you’ll all give this a shot – and I hope that it will be as interesting and successful as I think it will be.

A Few Changes Made A Big Difference In Our Electric Bill Want to see how much of a difference CFLs and unplugging unused devices can make? Here’s some raw data for you – and it’s sweet. (@ blogging away debt)

Live Simple: A Free eBook About Simplifying Your Life This is a pretty nifty resource for people who are all about the frugality. (@ get rich slowly)

Five Things We’ll Pay More For For me, I pay more for appliances and kitchen equipment. When I cook something, I don’t want to mess around with crappy knives and an uneven oven. (@ we’re in debt)

The Simple Dollar Retro: We Share A Joint Account, But I Don’t Trust My Partner’s Spending Habits It’s all about the trust, really. This story is almost painful to read because it makes you question the trust level in this relationship.

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  1. dong says:

    Trent, I feel like you’re assigning me homework…

  2. Amanda says:

    I am interested in participating. I read this book many years ago, but will check it out again for this.

  3. rita says:

    I don’t have a copy of the book and have never heard of it here in the Philippines.

    But I love the idea of a book club. Count me in!

  4. Trent says:

    You don’t have to read the book to participate and follow along, but the pieces might have more oomph if you do.

  5. Susan says:

    I have this book and read it a hundred years ago. But I have always been so broke as a single parent that implementing their principles seemed off the charts for me. However, now that my kids are grown and I make more money, it might be possible.

  6. Tyler says:

    Trent, nice business sense on this one. This is a great way to keep your readers coming back and driving up your adsense revenue. You’re a little furtive about it but still a good concept.

  7. Steve says:

    Trent, how about compiling a list of great books as well? One of my favorite’s that’s still in print is “Nobody’s Fool – A Skeptic’s Guide to Prosperity.” Those just a couple of years old, it’s still in print and has plain-talk chapters dealing with spending and borrowing, making sound investments, the truth about Social Security, and how to avoid being victimized by America’s many intimidating institutions. I found this book eye-opening as it comes not from a “how to” perspective which most books do, but from a “you better know this!” Just a lot of info that I didn’t know…and it gave me lots to think on. Author is Al Jacobs.

  8. Wendy says:

    This sounds great. I just picked up this book and want to dig in, but I don’t think I’m going to have time until October anyway.

  9. Rachel says:

    Fun Trent! Can’t wait. I got this book a few months ago but haven’t had the motivation to really read a lot of it. Now I definitely will read it with your Club. I look forward to all your insights on this book.

  10. Sput says:

    I actually just finished reading this book two nights ago! Looking forward to the discussions.

  11. Brian says:

    When Trent recommended this book a few months ago, I read it for the first time. The book’s advice is solid and original. Good idea starting the “book club”… I will come back here for what should be good discussions.

  12. Dawnry says:

    I think I still have a copy!!!

  13. Nebraska Jess says:

    I’m in! I actually run a blog that is primarily book reviews – check out http://litwitreviews.blogspot.com . I haven’t had a chance to review any personal finance books yet, mostly because all of the requests I have gotten have been in the fiction genre. But I love personal finance and can’t wait to participate – and create my own reviews on my blog!

  14. Nebraska Jess says:

    Ok, second try – for some reason I can’t get my comments to post. :) I’m definitely in on this one – I actually run my own book review blog, which you can check out at litwitreviews.blogspot.com . Sounds like fun!

  15. jotrys says:

    OK. Got the book. Let’s start.

  16. Evelyn cruz says:

    I have been reading the symple dollar for a while and I love it..this is my dilema:I am going to be a first home buyer any recomendation that you may have? I will apretiate on the subject.And looking forward to the book club

  17. Brad says:

    I have a small library of personal finance books and and books on investing that I’ve been accumulating for decades, and I can honestly say that “Your Money or Your Life”, along with Jerrold Mundis’s book on getting out of debt are the two most important volumes on my shelf. They trump every one of the fancy Invest-Like-Buffet books that surround them. Great choice to start the book club, Trent. Looking forward to your comments and the discussion.

  18. lorax says:

    I like the book club idea. Some of us probably have different editions though… will the page numbers match up? (Perhaps subdivisions of chapters?)

  19. Daisy says:

    what a coincidence that I just ordered that book from Amazon! it’ll get here on the last week of September. :D

    ok, so not really much of a coincidence since I first heard of the book on your blog then decided to check it out.

    in other words, I’m in!

  20. John says:

    Trent, I’m really looking forward to this. Great book to kick-off the book club with. I just re-read this book on my honeymoon, and it prompted a lot of healthy discussions about life goals and money issues with the new spouse. I’ve started “working the program” and am interested in hearing others’ impressions of YMOYL and in sharing my own results.

    Thanks for a great blog!

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