by Susan Paige
Consumer debt in America has risen 4.3% from last year, totaling a staggering $4.1 trillion dollars. It’s hard to get your head around that kind of money.
Now more than ever with credit card companies, banks, and car dealerships ever-willing to hand out loans at high-interest rates, people need help managing their finances.
Debt can be crippling, especially for the struggling middle class. Do you need help managing your finances or getting out of debt? Here are the best money management books you should read before the year goes.
Rich Dad Poor Dad by Robert Kiyosaki
Published over 20 years ago, this is the best-selling financial book of all time. It’s in part memoir and in part a self-help book for financial prosperity.
Kiyosaki outlines in great detail his not-so-rich upbringing and talks at length about what he learned from a friend’s rich dad.
In essence, it’s a book that outlines his observations about the contrast between the rich and poor–and what can be learned about each.
The footnotes: not all debt is bad, and budgeting is king. He recently published a reissue that tackles the differences in the economy and new advice for the current day.
The Richest Man in Babylon by George Classon
A short, snappy read, The Richest Man in Babylon looks at the modern economy using Babylonian wisdom.
George Classon urges his readers to practice self-control and discipline above all. His main message? Save at least 10% of whatever you earn.
If buying new books isn’t in the budget, check out these amazon free eBooks to get ahead on your new, frugal lifestyle.
Your Money or Your Life by Various Authors
This collaboration between authors Joseph R. Dominguez, Monique Telford, and Vicki Robin is a must-read for anyone interested in taking control of their finances and achieving financial independence.
And really, who doesn’t fall under that category? The authors go into detail about how a job shouldn’t make you miserable, and that it’s possible to live well while keeping frugality in mind.
The real moral of the story: learn to live within your means. A well-paying job does not equate to happiness if it makes you dread your job on the daily. Live cheaper, and enjoy your life.
Why Didn’t They Teach Me This in School By Cary Siegel
Aimed at millennials and people in their 20s, this book offers 99 Personal Money Management Principles to Live By and though it was written with young adults in mind, it’s never too late to take Siegel’s advice to heart.
If 99 tidbits of advice seem like a lot, don’t fret. It’s only 200 pages and broken down into 8 basic, easily readable concepts.
The main takeaway? How to be in control of your money so it’s not in control of you.
You Are a Badass at Making Money by Jen Sincero
A follow-up to her critically acclaimed You Are a Badass: How to Start Doubting Greatness and Start Living an Awesome Life, this book is a must-read for those looking for a comical but smart approach to finance.
Its main principle is teaching people how they can get rid of their most damaging financial habits and replace them with new, shiny, productive ones.
It’ll Take More Than Reading the Best Money Management Books
These are all awesome resources to get a handle on your personal finances. But even the best money management books won’t do the work for you. You’ll have to put the work in to shift your priorities and crack down on your financial discipline.
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