[Jen]

Based off of the recent topics regarding having a large amount in savings. (Kudos!) Why not post here books that you have read that have helped you save and invest wisely? What would you suggest for people to read at each stage of life to start since not everyone starts at a young age? Maybe this will help others. Just an idea.

[Robyn]

I have taken the Dave Ramsey course twice. It was very helpful for us as we went through our journey.

[Christine]

The Tightwad Gazette…it’s dated but still has a lot of ways to adapt our thinking to save.

[Virginia]

I think the most important thing to remember is that there are very few “lottery tickets” to saving money.

It’s a matter of staying in control of the small stuff. Learning frugal skills early is a great investment in yourself; if you didn’t learn it from your parents, it is a matter of self-schooling.

Awareness of what you have is key, as is understanding the difference between a need and a want.

Sitting down and figuring out your real hourly wage as soon as you start working can make you more aware of how much time your purchases and activities are truly costing you. Finally, (I really don’t mean to be a curmudgeon about this, but it frustrates me…) aim to be content. Contentment is a state of gratitude that can be maintained.

I see people frantically dashing about trying to be happy, which often means more stuff, more activities, more expense. Abundance is lovely, but endless increasing abundance is an unsustainable goal.

I tend to think about it as a teeter totter with contentment in the middle, lack at one end and over-abundance at the other end. Interesting question, thanks for the chance to respond!

Recommended: Can anyone recommend a good website to order books?

[Susie]

Your Money or Your Life was one of the first books I ever read and it changed my attitude toward money and spending. Not only should you be reading about finances, but frugal shopping, cooking, preserving, etc. And of course, you are getting all of these books and resources at your FREE library! They may even have seminars available at your library.

Pick and choose from each “system”. You have to make it “your own” or you are not likely to stick with it. Be prepared to make course corrections along the way. Circumstances can change and maybe your frugal path needs to adapt.

Blessings on your journey!

[Ashley]

Live Your Life For Half the Price and Debt Proof Living by Mary Hunt.

They’re from before the Great Recession, so some of the information is a bit dated or obsolete (like the couponing advice and some of the websites, those don’t really exist any more), but it’s good, sound money advice presented in no frills, no jargon, simple to understand language for those who are just starting out and intimidated by finance.

And as always, borrow books from the library first. If you want to buy your own copies, go secondhand. I hit mine off Thriftbooks for a fraction of the price as new.

[Donna]

I read “The Millionaire Next Door “. Then the sequel. One thing that hit home was, someone driving a Mercedes only proves that they can borrow enough money to buy one, not that they are rich. I got very serious about saving for my “old age” at 24. My Dad told me “You will never regret the money you have saved for retirement.”

[Shelli]

A Must Read is The Richest Man in Babylon. Short and a method even a very poor person can use.

[Jackie]

Suze Orman’s Women & Money, 20 years ago got me started. Her advice has probably changed since financial markets have changed but her advice to open a ROTH IRA was excellent and I tell young folks to invest in their employers IRA to the match then the ROTH to the max allowed.

When you’re young you’re in a lower tax bracket because you have mortgage interest and dependent deductions. I also would never retire if I still had a mortgage payment.

You’ll need that money for maintenance on your home. We’ve needed a $26,000 roof, $17,000 heating system, $ 15,000 deck replacement and $7000 AC replacement in the 11 years since retirement.

That’s $500 monthly for 11 years. I learned to constantly ask myself is this a WANT or a NEED, it’s been my mantra to keep from unnecessary spending.

Proposed: What are good investment options for a 16-year-old with $4k? Any recommended books for early retirement?

Good luck on your frugal journey- it’s worth it to have financial security.

[Amber]

I will teach you to be rich by Ramit Sethi. He also has a podcast, he is truly amazing with what he teaches. It’s not complicated and he talks to real couples each week and helps them out.

[Michelle]

The Latte Factor isn’t perfect… it can be frustrating because they don’t address privilege at all and there’s a big focus on small everyday expenses and not so much on the big ones. Anyways, it’s still a good and quick read to help people understand being more intentional with money and the impact of compound interest.

Otherwise, some helpful books include The Simple Path to Wealth, Psychology of Money, and Broke Millennial

[Kristi]

I found the Motley Fool website when I was first married in 2000. Reading their articles gave me enough confidence to opt in to a 401k at my job in 2002.

We didn’t need my ($6/hr) salary at the time so I maxed out my 401k at 60%, the first 6% was matched.

I think many people would think the amounts were so low as to be laughable. But time is your very best friend when investing.

The earlier you start, the better!

[Linda]

Dave Ramsey turned our financial lives around!

However, I didn’t agree with taking our checking account down to zero every month (with tight budgeting) Just not comfortable with that. Something unexpected always pops up out of the blue. Like with everything, I take what I need and leave the rest. It’s an excellent program and you can use it not written in stone!

[Jayne]

I took a personal finance & income tax course while in college back in my 20s. As far as books – I guess it would be the class textbook. The instructor was a local CPA & Financial Advisor.

[Author]

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