In identifying the best resources with financial advice for women out there, this week we are looking at the best finance books available at the moment.
My list of six books is a compilation of old and new, with both classic and the most up-to-date advice. What I love about books is that you can read passages over and over again, underline them, write notes on the margins. I have been a book lover since my girlhood, and there is nothing like a good book to help you straighten out your thinking about everything—even money. Maybe, especially money!
Blogger and New York Times bestselling author Ramit Sethi wrote this book in 2009, and it has changed people’s lives. Ramit is punchy and funny and smart—and so if you books about money are boring, this one will change your mind.
From the beginning of the book, where Ramit compares how we eat to how we spend, you’ll get hooked. But the best thing about the book is that it’s interactive, he makes you do “action steps” that make you think and actually do the work of getting smart about your finances.
His premise is based on strengthening your knowledge on the four pliers of personal finance: banking, saving, budgeting, and investing, and helps you to actually get on the road to getting rich.
Last month I wrote that the number one best piece of money advice for women is to take charge of their own money—this book shows us all how. For every woman who once believed (wrongly!) that if she got married she would never have to think about money again, this is the wake-up call.
But more than that, Barbara Stanny doesn’t just bust the myth that a man will solve all your financial woes. What she actually does is bust all myths of that kind—that an inheritance or a raise or some other windfall is the solution to all of our money issues.
I like this book a lot because it tackles where women are emotionally and psychologically when it comes to money, and firmly sets our feet on solid ground. A big bonus is her stories of women who stepped out and invested, and did very well for themselves financially. Very inspiring!
Pro-tip: Make sure the copy you get is the updated 2007 version because the one published in the ‘90s is too outdated.
True confessions: I love Jean Chatzky’s HerMoney podcast, and listen to it almost religiously. It will show up in next week’s list, just to give you a little hint.
In the book Jean (I keep referring to these authors by their first names because by now they feel like my friends) lists over 90 rules for wealth-building. If that sounds exhausting, let me tell you, it’s anything but that. She lays it out so matter-of-factly and actually removes the stress that comes with dealing with money, so that can have the financial stability we want and quite frankly, deserve.
Here are some examples:
- If you canʼt explain it, donʼt invest in it.
- Hope is not an investment strategy.
- You can fix any financial mistake by saving more.
Just everyday, not-so-common-sense practical money rules to live by.
This is one of her favorite rules. #49: Don’t budget while you’re dieting. Don’t diet while your budgeting. Jean says: “This one speaks to me because it reminds me that we’re all human. We can’t, research tells us, do it all at once. We can work on our willpower, work on building good habits that will take us where we want to go. But in the end, we have to remember that we’re not going to be perfect. If we fall back, we need to give ourselves a break, take a deep breath, and try once again.”
The subtitle of this book is “A Modern Girl’s Guide to Personal Finance,” followed by
- Save and Invest Wisely
- Achieve Financial Security
- Own Your Finances, Own Your Life
Originally published in 2007, the authors recently released a new edition with more updated information. It gives smart, no nonsense practical advice on credit cards, insurance, budgeting, going from saving to investing and so much more.
Personally, if I had a daughter, I would give her this book, as well as to my nieces and all their friends. It’s like a Bible of sorts for personal finances and is extremely useful to every woman.
Looking for books on investment? Don’t you worry because we’ve got the 6 Greatest Investment Books You Must Read to recommend to you.
The last book I’m recommending is an even bigger classic than Ramit Sethi’s book. You almost cannot talk about personal finance books without at least mentioning Dave Ramsey, who is a forefather of sorts when it comes to the subject. After all, he pioneered the “envelope method” of keeping track of personal expenses, which thousands of families have been using for some time now.
Not everyone will agree with Dave’s advice, since some may find some parts of it to be too radical. That’s all right. You don’t have to adopt everything these financial gurus are teaching, see what works best for you and use that.
But his book is foundational enough that it should be recommended for everyone serious about their finances. Dave is a myth buster when it comes to debt, and stresses the importance of both the retirement fund and the emergency fund, which makes him a hero in my eyes!
Do you want more financial advice? We’ve got a whole library of downloadable ebooks of all kinds of financial resources just for you.Recommend0 recommendationsPublished in