M: Welcome to the Book Club. Today's guest is Susan Lane, the author of a new book on personal finances that has already sold half a million copies. Hi, Susan, your book is extremely successful. Why do you think that is?
W: I think that's because of my message, which is making happiness a priority over money. So many of us in my generation have spent decades trying to earn more money, just to consume more, but it made us more miserable.
M: You yourself were once caught in that cycle, working for two decades as an executive and earning a high salary, but still accumulating debt.
W: I most certainly was. I earned millions, but by the time I quit my job four years ago to become a writer, I owed over $30,000.
M: So how did you escape that pattern? And what would you advise other people to do?
W: The first change is in what we value. We need to emphasize things that actually make us happy, like relationships, the environment or even our hobbies. Once we make the right things our priority, our goals will change and so will our financial behavior.
M: How does that translate into practical action? Can you give our audience examples of what you are talking about on an everyday basis?
W: The major areas for action are usually housing, food and transportation. So people might share a home with friends instead of living on their own, bring lunch from home instead of going to restaurants, and use public transport instead of owning a car.
M: Those sound like major sacrifices, I could never share my home, I need my own space.
W: But they aren't sacrifices. When people change their values, their desires change. So in the example of housing, if we value relationships, sharing a home isn't depriving ourselves of space, but giving us an opportunity to spend more time with our loved ones.
M: Indeed it is.