I love reading. I spend a vast quantity of time reading. And I find that it’s one of the best ways to learn just about anything. So, of course, when I decided to wrangle my terrible money habits, I turned to the library. Books are still an amazing resource, and anyone who tells you otherwise is either a liar or ill-educated.
The only thing that you absolutely have to know, is the location of the library. – Albert Einstein
And hey, if it’s good enough for Einstein, it’s good enough for me.
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- The Barefoot Investor: The Only Money Guide You’ll Ever Need by Scott Pape. I cannot recommend this book enough. This guy makes looking after your money into an easy, step-by-step plan that a trained monkey could follow. He tells you what to look for in a bank account, how to tell if you’re being ripped off by your super fund, and which insurance policies you need to buy. If you want to understand how to look after your money, this book will teach you how. Not to mention, the guy is Australian, so he talks about super instead of 401(k) and he talks about how you’ll have to get a mortgage to buy a house in Australia. If you’re American, another book to look at is Dave Ramsey’s The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness. You can find The Barefoot Investor’s blog right here.
- Living Well Spending Less: 12 Secrets of the Good Life by Ruth Soukup. This book is an inspiration to those of us who have struggled with bad spending habits. Ruth talks about how her own money issues had her on the brink of divorce, and her journey to repair her life, get her family back on track, and find meaning in an area other than the $2 specials at Target. You can find out more about Ruth on her website here.
- Get Rich, Lucky Bitch!: Release Your Money Blocks and Live a First Class Life by Denise Duffield-Thomas. Have you ever read The Secret and thought it was a load of claptrap? Well, this book will walk you through manifesting money by changing your mindset, except that it’s full of the actionable steps that The Secret didn’t bother to cover. Denise walks you through changing the way that you think about money, especially dealing with the guilt and bad connotations most of us associate with having money in the bank. Even better, this one is available on Kindle Unlimited. You can find Denise’s website here.
- Debt Free, Cashed Up and Laughing by Cath Armstrong. Hooray for another book by an Australian. This book is all about how to cope when the brown stuff hits the fan. It’s full of basic advice about where you can scrimp and save when the rug is pulled out from under you, leaving you wondering how on earth you’re going to pay your rent next week. Cath also runs The Cheapskates Club, which is an awesome resource of money saving tips and ideas. You can sign up for their free newsletter here.
- The Richest Man in Babylon by George Clason. This book is a series of parables in simple language that outline the basic principles of money management. It’s a little bit less direct than just being told what to do with your money, like you’d get from Scott Pape or Dave Ramsey, but it covers some pretty awesome ways to view your hard earned pennies.
So, there you have it. The books I most highly recommend if you’re feeling disillusioned about your ability to handle your own finances. Just remember, no one cares about your money more than you do, so don’t pull a Johnny Depp and sign over control of your money to someone else. It’s just not worth it. The better plan is to learn enough to handle your money on your own terms.