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The internet is a treasure trove of knowledge on a variety of aspects and personal finance is no different. If you want to understand how index funds work, repay your debts faster, or save money on groceries, there are plenty of articles out there. That being said, a lot of these pieces of advice can be derived from books, even deep financial philosophies or money mindsets. It’s for this reason why no matter how many articles are out there, nothing can beat a good ol’ fashion book. When you are out and about, consider picking out these specific books, it’s an investment, but well worth it.
The first book on our list is the book by Laura Vanderkam “All the Money in the World“. It was published in 2012 and to this day provides a great resource for personal finance. It goes beyond talking about saving money, budgeting, or opening an RRSP or IRA. This book focuses on combatting frugality by telling you how to spend money and get the most value out of every single dollar you spend. For example, if you hate chores, spend your money outsourcing your laundry and errands to other people so you can devote more time to your hobbies, family, or work. If you enjoy date nights with your partner, spend your money on babysitters as opposed to buying new clothing or shoes.
For those looking to pay off debt quickly, consider “The Total Money Makeover” by Dave Ramsey. If you’re not familiar with this guy, he is a legend amongst the finance world ever since he published his first book in 1997 called Financial Peace. With this book released a decade later, this is the book that helped Deacon Hayes of WellKeptWallet pay off over $52,000 in the span of 18 months. In this book, Ramsey shares incredible transformations people have gone through where people paid off thousands in short periods of times. There are even references to the snowball method which Ramsey recommends people do in order to beat back debt.
The third book is geared more towards the younger audiences and that is “Money A to Z” by Scott Alan Turner. It’s got some key elements for adults, however, they say that a kid learns money and budgeting habits from their parents. So by being familiar with finances and enforcing it through this book can help your children be better managers of money in the future.
The fourth book in our list is one for the investors called “The Little Book of Common Sense.” Written by John C. Bogle, the book explains exactly what it says on the title. It provides specific advice for investing that is practical because it makes sense. Bogle himself is the founder of The Vanguard Group, which is an investment firm that’s famously known for their index funds. He believed that index funds, specifically the S&P 500 will provide better returns than throwing money at individual stocks. In short, if you can understand the concepts presented in this book, that is all you’ll ever really need to know about investing.
The final book we will cover is for those who are shopaholics. In her book “The Recovering Spender“, Lauren Greutman shares her story of being someone who spends so much shopping. Many readers of this book can relate to what Greutman explains in the book and by reading it, you’ll learn better methods of dealing with your shopping addictions.