When I set my goal for this year, one of my goals was to read one personal finance book every month this year. I’m currently working on Your Money or Your Life by Joe Domingez and Vicki Robin. I haven’t decided what to read for the rest of the year though, so I thought I’d ask for suggestions. I also thought I’d let you know about a few of the books that have inspired me to live more frugally and get my debt under control.
1. Debt-Proof Living by Mary Hunt. I’ve talked about this book before. I really appreciate this book, Mary Hunt has climbed out of the debt pit herself. She provides a solid plan for getting out of debt that is especially good for people who don’t like to take big risks. Save a contingency fund, make sure your budget is funding your irregular expenses, and then pay off your debt.
2. The Total Money Makeover by Dave Ramsey. Despite the issues I have with gazelle intensity, Dave Ramsey has also been a huge inspiration in my quest to get out of debt. I like the Total Money Makeover, because it breaks down the journey to financial freedom into clear cut steps. It’s always good to have a plan, and Dave does the work of making a plan for you. To follow Dave’s plan, you have to be a little more willing to take risks, as he only advocates a $1000 emergency fund before paying off your debts. I’ve modified my own plan so that it falls somewhere between Dave Ramsey and Mary Hunt.
3. The Complete Tightwad Gazette by Amy Dacyczyn. This book is chock full of tips for living more frugally. Some of the tips are farther than I’m willing to go in trying to live a frugal life, but a lot of the tips are quite good. If you read through this book, you will find ideas for cutting back in every area of your life. Even though you might not use all the tips, there’s surely something in this book for everyone.
Now that you know what my top three personal finance books are, what are yours? Do you have any suggestions for things I should be reading over the next year?
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I'm just an average mom, trying to live a frugal life and get out of debt. I write about things that have (and haven't) worked to improve my family's financial situation. What works for me may or may not work for you, and you should always consult a financial advisor before making important financial decisions.
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