When all else fails in our attempt to get a control over our finances, it’s time to turn our attention to books. I’ve made a list of five books on personal finances that are highly appreciated:
1. The Total Money Makeover: A Proven Plan for Financial Fitness, by Dave Ramsey
Money guru Dave Ramsey teaches you how to get out of debt and make sure you never get back into debt again, how to build an emergency fund and only get into it for a REAL emergency (and Christmas is definitely not considered an emergency), and how to recognize the most dangerous money myths. His plan is simple and straightforward and does not cut any corners. Everybody can follow it!
2. Get a Financial Life: Personal Finance In Your Twenties and Thirties, by Beth Kobliner Shaw
If you want to understand the basics of personal finances and get your finances on track, this might be the book for you. It is a book for everyone in their twenties and thirties, but not only. It’s basically a book for any adult who wants to live debt free, start saving, pay off credit cards and loans, invest wisely, buy a home, and build a satisfying life without spending every second worrying about debt.
3. Pound Foolish: Exposing the Dark Side of the Personal Finance Industry, by Helaine Olen
This book exposes the myths, contradictions and lies perpetuated by personal finance gurus. Journalist Helaine Olen shows how the industry is selling us products and services that offer little if any help, calling out some of the biggest names in the business and revealing their questionable practices. “Pound Foolish” features interviews with experts, interesting studies and original reporting.
4. No More Debt: How To Get Out And Stay Out Of Debt Forever. Proven Methods, Techniques And Tips To Eliminate Debt, by Jim Turner
The title is pretty self-explanatory. Getting in debt is a huge problem nowadays and there seems to be this conception that you can’t get out of debt unless your situation somehow magically improves. This book is meant to prove you otherwise. You will find out about possible situations that lead to debt, learn how to create your budgeting, and how to prevent debt and manage the ones you already have.
5. Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live By, by Cary Siegel
How come in this day and age we don’t have classes in personal money management? School is meant to prepare you for life, and while math and English classes are certainly useful and necessary, there is nothing practical to prepare you for managing your finances. The book focuses on 99 principles meant to enhance your money management skills in an easy to digest and practical way. Nothing too complicated or fancy.
Have you read any of these books? If you have, let me know what you think of them or what other interesting books on personal finances you’ve been reading.