New Delhi, Nov. 8 -- "Your Money or Your Life" offers a clear programme for financial independence. Vicki Robin wrote it with Joe Dominguez. Its big idea is simple. Money is something you trade your life energy for. Here are five lessons from the book.

The book asks how much life energy you trade for each rupee or dollar. Most people divide pay by hours worked. The authors say this is too simple. Be ready to be surprised. Add the time and money your job demands.

Think of commuting, work clothes and meals bought because you are busy. Add the hours you need to unwind and the holidays you take to recover. Subtract these costs from your pay. The result is your "real hourly wage."

The book asks you to total your monthly spending. Then conve...