Concept
The course developed through this project is a web based supplement to the financial integrity curriculum detailed in the book Your Money or Your Life by Vicki Robin, Joe Dominguez and Monique Tilford. The nonprofit group, the New Road Map Foundation, currently maintains a wiki site which includes resources such as templates and also printable materials to aid in individuals and small groups pursuing study of the book. At this time there are no interactive elements, but the New Road Map Foundation is eager to have such an online course supplement available. This course follows the nine step outline used in the book and utilizes existing and newly developed materials to adhere to the plan and principles outlined in the book.
The design metaphor used in this project is the concept of the learner ascending a staircase. Since the Your Money or Your Life program is divided into nine steps, using the word “step” with a different, yet congruent, meaning seems like a natural fit for the project. The staircase is used on the heading of each page to visually aid the learner in his or her location in the program and also to gauge progress along the overall progress of the program. After the nine lessons have been completed the learner will be at the “top” of the staircase, having completed the progression of the course.
The design metaphor used in this project is the concept of the learner ascending a staircase. Since the Your Money or Your Life program is divided into nine steps, using the word “step” with a different, yet congruent, meaning seems like a natural fit for the project. The staircase is used on the heading of each page to visually aid the learner in his or her location in the program and also to gauge progress along the overall progress of the program. After the nine lessons have been completed the learner will be at the “top” of the staircase, having completed the progression of the course.
Audience
The audience for this course includes a broad swath of society. Readers of the book come from nearly every background possible. It is developed for English speaking adult learners who have some proficiency using a computer to access the internet. For many learners this may be their first experience with an online course. The financial expertise of learners may range from novice to expert, but is tailored to those with little financial management experience who are eager to change their financial habits.
Objectives
To sync with the book and study guides, the material in this online course is divided into nine steps, which will each be a separate lesson. Each lesson should take the learner approximately one hour and 15 minutes to complete. The lessons will also be supplemented with exercises that will be completed away from the computer, such as requesting a statement from the Social Security Administration, or completing monthly spending tabulations. The lessons will be presented as follows:
Objective: Create Lifetime Income Estimate
Objective: Create Personal Balance Sheet
Objective: Calculate real hourly wage (RHW)
Objective: Create and follow a method to record all daily money transactions
Objective: Establish spending categories and patterns based on monthly tabulation
Objective: Evaluate how you earn and spend money by reviewing categories in the context of these three questions:
Did I receive fulfillment in proportion to life energy spent?
Was this in alignment with my values, goals and purpose?
How would this change if I didn’t have to work for a living?
Objective: Create a visual tool to show how money moves in and out of your life – wall chart
Objectives:
Evaluate each purchase in relation to fulfillment, goals and values
Reduce spending that doesn’t bring maximum fulfillment
Spend consciously by requiring maximum value for your money
Consciously eliminate unnecessary spending altogether and find non-monetary ways of meeting those needs
Objective: Explore ways to increase earnings without compromising values or health
Objective: Utilize wall chart created in Step 5 to predict crossover point, where investment income meets monthly expenses
Objective: Establish long term investment plan/program
- Step 1. How much money has come into your life and what do you have to show for it?
Objective: Create Lifetime Income Estimate
Objective: Create Personal Balance Sheet
- Step 2. Being in the present: Tracking your life energy
Objective: Calculate real hourly wage (RHW)
Objective: Create and follow a method to record all daily money transactions
- Step 3. Where is it all going: Monthly tabulation
Objective: Establish spending categories and patterns based on monthly tabulation
- Step 4. Three questions that will transform your life
Objective: Evaluate how you earn and spend money by reviewing categories in the context of these three questions:
Did I receive fulfillment in proportion to life energy spent?
Was this in alignment with my values, goals and purpose?
How would this change if I didn’t have to work for a living?
- Step 5. Making life energy visible: Your wall chart
Objective: Create a visual tool to show how money moves in and out of your life – wall chart
- Step 6. Respecting your life energy: Minimizing spending
Objectives:
Evaluate each purchase in relation to fulfillment, goals and values
Reduce spending that doesn’t bring maximum fulfillment
Spend consciously by requiring maximum value for your money
Consciously eliminate unnecessary spending altogether and find non-monetary ways of meeting those needs
- Step 7. Respecting your life energy: Maximizing income
Objective: Explore ways to increase earnings without compromising values or health
- Step 8. Capital and the crossover point
Objective: Utilize wall chart created in Step 5 to predict crossover point, where investment income meets monthly expenses
- Step 9. Securing your financial independence
Objective: Establish long term investment plan/program
Learner Gains
Learners are taking this course for personal satisfaction and to gain skills in managing their finances and strengthen their overall relationship with money. This program involves nine distinct hands-on steps that integrate classic financial wisdom into daily financial activities. The program materials state that “having ‘financial integrity’ means understanding the true impact of your economic interactions, and having that impact reflect your true intentions. The purpose of engaging in the exercises and practices outlined in the FI Program is merely -- and profoundly -- for you to transform your relationship with money.” The overarching goals as defined by the program are detailed as follows:
- Get out of debt
- Spend less
- Develop savings
- Learn to base your transactions (the getting, spending, investing and giving of your resources) on your own personal principles
- Achieve a degree of financial independence that allows you to spend your time doing what is fulfilling for you