Summer is almost here, so it’s time to get your beach reading in order. If you’ll be going on vacation soon and have a bit of free time, why not expand your personal finance knowledge? Here are a few suggestions to help you get started.
1. The Debt Escape Plan
“One of the things I know from my own experience is that when you’re in credit card debt, you feel awful. You feel alone and like you’re the only one who has made such terrible money mistakes. I want people to know that this can happen to anyone. And I want them to also know that they can get through this and pay off their debt,” Harzog told The Cheat Sheet.
2. The Thin Green Line
“The visual of the thin green line in the title. Think about it as a stock chart over the past 50 years, starting out low and gradually rising, in fits and starts, to a much higher point. You want to be on top of that line, standing comfortably whether you’re near the bottom or at the peak. In either place, your choices have to reflect your resources and your goals. You do not want to be on the other side of that line, hanging beneath, by your fingertips, or in free fall. That’s when choices will be made for you — many of which you won’t like. Keep that green line in mind no matter what financial decisions you’re making,” Sullivan told The Cheat Sheet.
3. Live Richer Challenge
Author Tiffany “The Budgetnista” Aliche provides advice on how to improve finances through proper budgeting, credit management, and saving.
“This book is ideal for beginners who want to be “bread crumbed” to financial success. In 36 days this book will help you master your money through simple, daily financial tasks,” said Aliche in an interview with The Cheat Sheet.
The Cheat Sheet also asked top financial experts to share some of their favorite personal finance books. Paul Vachon, founder of The Frugal Toad, and budgeting guru Tiffany “The Budgetnista” Aliche gave us these picks.
4. The Automatic Millionaire
“This book should be on everyone’s summer reading list for the simple fact that David Bach shows you step-by-step how ridiculously easy it is to automate your finances and build real wealth,” said Vachon.
Favorite quote: “The quote that stands out for me is ‘most of us work barely 22 minutes a day for ourselves.’ That is alarming and is at the heart of why Americans are not saving enough for retirement. In fact, 1 in 5 of us don’t save anything. Everyone should have a pay yourself first mindset!”
5. Smart Couples Finish Rich
“Money issues are the top reasons why many couples break up. This book can help you and your honey get on the same page. David Bach writes in a conversational tone that gives the reader encouragement as he guides you step-by-step on your financial journey towards wealth,” said Aliche.
Favorite quote: “My favorite quote from this book is, ‘When two people work together to accomplish a goal, they can usually achieve it twice as fast as either of them would have working alone.’ This resonated with me because I believe collaboration is the best way to achieve a goal. In a relationship, collaboration is essential to your joint success. In my own relationship, I’ve seen just how quickly working together can expedite goals.”
6. The Richest Man in Babylon
“This oldie but goodie is one of my favorite financial books. The simple principles in this book by George Clason can transform the way you look at your money forever! Written as eight stories in parable form, this quick read will upgrade your money mindset,” said Aliche.
Favorite quote: “My favorite quote from this book is ‘where the determination is, the way can be found.’ This quote resonated with me because it’s a reminder that there is a solution to every financial problem. It encourages me and the reader to not give up.”
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