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Weekend Challenge 8: Book Report

By , About.com Guide

The weekend challenge this week is to read a book about money. You can choose one of the ones I recommend or any book that explains something to do with finances. You can choose something that introduces you to a broader aspect of money management or you can choose a topic that is more focused. Here are my favorite books about money management. I read most of them while I was in college or just after I graduated and the things I learned are still true today.

1. The Millionaire Next Door

The Millionaire Next Door examines the spending habits of people who became millionaires. This book points out that most millionaires do not spend a lot of money, and have a regular pattern of saving and budgeting. This was an eye opening study, and can really help you get a grasp on how to build wealth over time.

2. The Total Money Makeover

The Total Money Makeover by Dave Ramsey is a seven step plan that will help you get out of debt and begin to build wealth. in this book, Dave Ramsey shares stories from people who followed his plan and got out of debt. He also outlines how to manage your money once you have gotten out of debt. Although the steps he outlines are pretty basic, he does a great job of motivating you to get started on getting out debt.

3. The Tightwad Gazette

The Tightwad Gazette is a collection of newsletters that were originally published in the 1990s. They are full of ideas on how you can save money on everything from your groceries to remodeling your home. Some of the idea can be a bit extreme. The books is well written and is enjoyable to read.The author does a great job of helping you break things down according to the costs of both your time and money. She also explains how to use a price book to save you money at the grocery store.

4. First Comes Love Then Comes Money

This book is a must read if you are getting married in the next year. It is also a good resource if you are married and you and your spouse have occasional money fights or major money issues. It can help you see how you each view money differently and then come together to work out a financial plan that you are both comfortable following.

5. Your Money or Your Life: Transforming Your Relationship with Money

This book will challenge the way you think about money. It will help you to change your perspective about money versus your time. It talks about building up savings that you can live off of while working minimally, so that you can live the type of life you have always wanted to. It is a very interesting read, and it will change the way you think about your money and your time.