Financial Books?

[Luv2trav]

I looking to buy some good financial books to read. I already have Dave Ramsey's Total money makeover. I am looking for other similar to his. Any suggestions?

 

[Marbear]

"The Millionnaire Next Door" is a good read.

 

[Debbie]

The Automatic Millionaire by David Bach and The Wealthy Barber by David Chilton.

I think that I should have named my boys "David". It seems like a rich name!

 

[crisi]

I'm really fond of "Personal Finance for Dummies" by Eric Tyson.

 

[disneysteve]

I'll second both Marbear's and Debbie's recommendations. Those are all excellent books.

I'll add "Start Late, Finish Rich," also by David Bach.

I recently read "The Two-Income Family Trap" by Elizabeth Warren. Though not a personal finance guide as such, it is a very interesting read about how so many people have gotten into so much trouble financially. There is some really eye-opening information in this book.

Pretty much anything by Suze Orman is always a good bet, too.

 

[ChristyJ]

I bought my DH 2 books by David Bach-The Automatic Millionaire & Smart Couples Finish Rich. He loved both books and I'm now in the process of reading them as well.

They're an easy read and make sense.

 

[chrissyk]

My all time favorite is still "Your Money or Your Life" by Joe Dominguez. It's an oldie but a goodie...it's really a timeless book on personal finance IMHO. Also, Suze Orman's older stuff ("The 9 Steps to Financial Freedom") is good. Her newer stuff ("The Money Book For the Young, Fabulous, and Broke") didn't strike the right chord with me. I bought it and pre-read it for my younger sister, and I ended up making all kinds of notes in the margins when I disagreed with Suze. I didn't want my sister to think that "judiciously" running up credit cards was ever a good idea (yes, that's in that book!).

 

[Luv2trav]

Thank you for all the suggestions. I am going to buy some this weekend...

 

[chrissyk]

Thank you for all the suggestions. I am going to buy some this weekend...

You can get the older Suze Orman books and Your Money or Your Life cheaply on half.com

 

[disneysteve]

Thank you for all the suggestions. I am going to buy some this weekend...

Come on. This is the Budget Board. We don't buy our books. Not new, at least. Start at your local library. Borrow and read a few of the recommendations. Then if you feel you really want to own any of them, check out ebay or amazon for used copies.

I don't know if this tip is in any of those books, but its a good one.

 

[KelNottAt]

I second "The Wealthy Barber."

 

[Luv2trav]

Come on. This is the Budget Board. We don't buy our books. Not new, at least. Start at your local library. Borrow and read a few of the recommendations. Then if you feel you really want to own any of them, check out ebay or amazon for used copies.

I don't know if this tip is in any of those books, but its a good one.

haha,,, I knew someone would tell me that...

 

[Free4Life11]

Her newer stuff ("The Money Book For the Young, Fabulous, and Broke") didn't strike the right chord with me. I bought it and pre-read it for my younger sister, and I ended up making all kinds of notes in the margins when I disagreed with Suze. I didn't want my sister to think that "judiciously" running up credit cards was ever a good idea (yes, that's in that book!).

I don't really think that's she ever advocated "running" credit cards. No she didn't say to go cut up all your credit cards and never use them. On the contrary, she said that they can be a useful tool when you are just starting out in life and may not be making a lot of money. But she was very clear that you aren't to use them to buy a $300 paid of jeans, but using them for necessary expenses (groceries, appointments, etc.) can be a good way of helping yourself out financially and provided guidelines, like figuring out how much is an acceptable amount of a credit card.

I like the book a lot. It didn't necessarily tell me WHAT I should do, but rather gave a lot of good information on how the systems work, things to do to improve your credit score, smart plans for retirement, etc. It was an easy read and the information presented was very applicable to my life and situation.

ETA - I totall agree about checking books out at the library!! Every book has a different feel and I think it's best to preview the book. Some books are ones that I would definitely keep, others have good information but I wouldn't necessarily want a copy to refer to.

 

[chrissyk]

I don't really think that's she ever advocated "running" credit cards. No she didn't say to go cut up all your credit cards and never use them. On the contrary, she said that they can be a useful tool when you are just starting out in life and may not be making a lot of money. But she was very clear that you aren't to use them to buy a $300 paid of jeans, but using them for necessary expenses (groceries, appointments, etc.) can be a good way of helping yourself out financially and provided guidelines, like figuring out how much is an acceptable amount of a credit card.

You are correct in terms of her reasoning, but I just didn't like the fact that she was advocating carrying a cc balance for ANY reason. It was so contradictory to her older material. I felt like she was pandering to the young crowd to try to make a buck selling books and other materials. This is JMHO. If the book is helpful to people, then it is a good thing. For my younger sis, I cringed at the advice to carry a cc balance. Luckily, that's not her way, but still...I don't like the idea of a "professional" advocating the idea to impressionable "YF&Bers" who might not quite comprehend the difference between a want and a need, KWIM?!

BTW, I also like the library idea, but sometimes you can get older books for very cheap money on sites like half.com. Some of these books are nice to have around as references, so it's worth the $3 shipped

 

[Free4Life11]

Yeah I understand what you're saying, because what she says does sound good on paper, but I doubt that most young people truly have the self-control to not charge up their CC's. I know I've had trouble with it, I'm just glad it happened early on and I learned my lesson quickly.

 

[chrissyk]

Yeah I understand what you're saying, because what she says does sound good on paper, but I doubt that most young people truly have the self-control to not charge up their CC's. I know I've had trouble with it, I'm just glad it happened early on and I learned my lesson quickly.

Same here. DH and I did some real damage on the cc's in our early 20's. The ironic thing is that we used Suze Orman's old stuff ("The 9 Steps to Financial Freedom") as a blueprint to get ourselves out of cc debt and ensure that we always paid in full after that. What she is saying in the YF&B book DOES sound good on paper, but it's way too easy to give yourself "permission" to carry a balance, and then to suddenly start seeing wants as needs. It's like..."what the heck, I'm already in debt, so why not buy these $300 jeans on the cc?" That's the way that I saw it, anyways. Her advice about "judicious" use of credit cards is potentially a good idea in principle, but probably not a good idea in practice for most people.

 

[NeverlandClub23]

Yeah I understand what you're saying, because what she says does sound good on paper, but I doubt that most young people truly have the self-control to not charge up their CC's. I know I've had trouble with it, I'm just glad it happened early on and I learned my lesson quickly.

I'm almost 24 and when I was 18-19 I thought credit cards were perfect! Someone "gives" you $5,000 and all you have to pay them is $100 a month? Great! Yeah not so great 5 years later but I'm glad I learned now and can start getting myself out now before I purchase my own house or have to make even more choices based on my credit. I'll be headed to the library tonight...

 

[figment52]

I second "The Wealthy Barber."

ANother vote for the Wealthy Barber. It is a relevant todayas it was whenI firstread it over 15 years ago. (ok, and I am slightly partial because Port Huron is home).

Seriously, it is a very easy read and full of logic and good sense/advice.