Monday, November 15, 2010

Personal Finance Resources...

So what if your favorite personal finance book that you recommend I read?

Over the next month, I will commit to reading 2-3 personal finance books, reviewing the works and developing a debt repayment plan.


Anonymous said...

Total Money Makeover by Dave Ramsey. It is such a quick and easy read.

Theresa d said...

2nd the Total Money Makeover by Dave Ramsey

other idea is Smart Women Finish Rich by David Bach

Anonymous said...

Please read your money or your life. One of the central themes of the book is how much life energy you are prepared to spend working to buy crap and stuff ala coach bags:)

velvet jones said...

I second Your Money or Your Life. Total Money Makeover is good only for the budgeting/getting out of debt part. The investment information is not to be followed. You're better getting that information elsewhere.

DreamChaser57 said...

I thought you'd never ask -*wink*

The Millionaire Next Door (Stanley & Danko) -Challenges the myths about wealth

The Automatic Millionaire (Bach)
-Encourages people to evaluate what you're really working for?

The Richest Man in Babylon (Clason)
(Archane language, told in story form, classic timeless themes)

Total Money Makeover (Ramsey) -It will get you fired up and provide you with a step by step plan

Personal Finance is not always intuitive, these books helped me to change my mentality

Best of Luck!

Anonymous said...

I really like All Your Worth by Elizabeth Warren and her daughter, Amelia Warren Tyagi. She (Elizabeth) has been an advocate for a while now for the "little person" and it's a great read. They use the 50-30-20% spending plan. 50% Needs, 30% Wants and 20% Saving/Debt Repayment.

Chitown said...

Okay...So it looks like there is a consensus on the Total Money Makeover by Dave Ramsey. I also downloaded his iPhone App.

Here is the thing...I think his principles teach that 1) you are only supposed to have a $1,000 eFund and 2) you are supposed to pay off your balances from smallest to largest.

So....does that mean, I take what I have left in my short-term savings and put it towards debt sans $1,000. My car repairs earlier this year cost more than $1,000.

Also, I really want to get rid of my credit card debt first since it carries the largest payment.

Chitown said...

I will buy/download the eBook for Ramsey tonight and start reading it. I will also check into the cost for Your Money and Your Life and download that book once I finish Ramsey's. Thanks guys!!!

Anonymous said...

no dont buy it get it free from the library!

buy nothing!

MAH said...


You are correct on your understanding of Dave's baby steps. My recommendation is to read the book in its entirety before making any decisions.

I have worked with many people to customize the 7 Baby Steps. You should do what you feel comfortable with. The important thing is to have a plan, so it is okay (even though it is not advised) if you change the order of your debts.

If you are interested I have a spread sheet that will allow you to enter your debt information and compare strategies. Email me at and I can send it to you.

Discount Brokers Pro said...

Very interesting list of personal finance books! So useful, I will add it to my que as well ;) thanks for opening this discussion.

Delirious After Work said...

I second (or third) the Money or Your Life book which definitely helped, especially the idea of equating what you spend with how many hours you will have to work to get the money back.

Reading blogs is also good for keeping the saving habit going !! yours is a good one :)

Good luck with the reading list