How to Pick the Personal Finance Book That’s Right For You

In 1997 I picked up my first personal finance book, The Millionaire Next Door. I had heard that the book revealed to the world that millionaires were cheap folks who drove old cars and didn’t send their kids to college. Nothing could have been further from the truth. In fact the book revealed to me the common qualities of millionaires and that becoming one is not that far fetched an idea. They have certain characteristics and habits and developing them is the surest way to join the ranks of the world’s millionaires.

Truthfully, personal finance books are a dime a dozen. You cannot roll a boulder without hitting one. What makes one book better for you than another? Since 1997 I have read 10-15 personal finance books per year. Well over 100 books later, there are only 10 who have made a genuine difference in my life. The rest were filler. At 10 dollars a book that is a lot to spend on filler.

How can you pick the right book for you and still keep your money in the bank? No, I am not just going to suggest that you get a library card. Wasting time on the wrong book is just as bad as wasting money. There are a few simple steps to follow that will help you pick the right book for the stage you are in life.

Ten action steps for selecting the right book for you:

1) Before you go to the bookstore or the library, decide what is most important for you at your particular point in time. Are debt elimination, starting a savings plan or investing most important for you?
2) Look for a book that teaches a new concept about an idea. In its first few pages, Rich Dad, Poor Dad introduced the balance sheet in simple, easy-to-understand way.
3) Look through the table of contents. Is there a chapter there that appears to address your problem? If so scan that chapter to make sure it contains information valuable to you.
4) Is there a glossary of terms? Or will you need to have your financial dictionary or Internet connection handy to understand your book?
5) Read the preface, does the author communicate his or her purpose for the book and is it in line with your personal philosophy?
6) Is the author’s language style appropriate for you? In the 1990′s personal finance books were written for baby boomers in their late 30s and older. The language was pretty staid. Today’s personal finance books are written for Gen x, Gen y, and Gen Whatever. The language style is more aggressive.
7) Is the book filled with exercises you won’t do? Be honest here. One of the main reasons that people don’t finish a personal finance book is because it is filled with exercises they won’t do. These exercises are very different from action steps, the steps designed to help you remedy your current situation. Exercises in personal finance books are often aimed at helping you figure out how desperate your current situation is. If you didn’t already know how desperate your current situation was, you wouldn’t be looking for a personal finance book in the first place. You need action steps not psychoanalysis.
8) What are other people saying about the book? The Internet allows any one to connect with book reviews. Folks are generally pretty open about their situations. Has the book you are considering helped someone in a situation similar to yours?
9) Is the book simply a rehash of something you have already read? Many financial books, especially books by the same author, are merely “also-rans”, books that rehash the same material repackaged for a different audience.
10) Is the book an end in and of itself or simply a promotional piece for a financial seminar? I cannot stress this enough. You are looking to solve your current financial situation through education not become part of some author’s marketing machine.

Once you master the basics there is much in the world of money mastery to know. Right now my focus is on books that teach new concepts about work, play and life. Just because I find a book intriguing I don’t run out and buy it. Instead, I place it in my queue and wait. I am always reprioritizing and looking at the materials I already have; if that book is relevant in 30 days, I will put it in my active queue to purchase and read.

Using the 10 steps I just outlined will help you gain the most book for your buck, avoid the unnecessary and redundant purchases, save you time and help you keep more of your money in the bank.

Finance Books to Learn and Manage Your Money

Personal finance is hard enough as it is. It’s absolutely daunting to doing the whole thing by ourselves, especially if we’re not very well-versed in keeping logs of earnings and expenses, calculating our own net worth, reducing debts, and managing our finances by ourselves We could all use a little input from experts, especially when it gets really confusing and we don’t know where to start. Here are several finance book recommends:

Total Money Makeover by Dave Ramsey
Dave Ramsey is a great material for looking up information about personal finance. There are hundreds if not thousands of people who are inspired to get their finances straight all because of the Total Money Makeover book.

The book also tackles debt reduction by giving great advice on how best to approach this problem and gradually take shed off the ball and chains to their finances. It is especially for those who are just starting out.

The unique thing about Dave Ramsey’s book is that it includes Christian thinking and values, as well as bible teachings that he relates to money. If you’re the person who isn’t bothered by religious thinking seeping inside a finance book then this book is for you. There are Dave Ramsey fans accumulated over the years, sticking by to what they learned from the publications to help them get over their financial difficulties.

Five Years to Financial Freedom by Morris Kaplan
The book is unlike any other because it presents a somewhat clearer and more defined rule on how to
fix your finances over time.

It helps you answer the questions you ask when you find yourself in a financial constraint. It tackles how people spend more than they earn, how to change jobs, how money affects your relationships. This book helps you realize several aspects of your life that money plays a part of.

It doesn’t promise that you’ll get rich overnight, but what it does is give you a huge resource of information on how to clear all bad debts, paying for mortgage, start investing, branching out, looking into tax benefits and saving money.

The Wealthy Barber by David Chilton
Some people have noticed that this book is one of the most well-loved finance books of all time. The Wealthy Barber provides sensible advice, deep insights into finances how it affects our lives. It is incredibly easy to take in as the book is written like a story or a short, light novel.

The book is always recommended for those who are venturing out in understanding personal money management, because even if you don’t have much background on finance and accounting, it will not be difficult for you to understand.

The Wealthy barber guides the reader to implement the steps in managing their money by thinking of what we truly want in life and how we can get it. It also has a great chapter on getting rid of materialistic thinking, getting spending under our control and minimizing our debts.

For the Young, Broke and Fabulous by Suze Orman
Suze “Suzy” Orman is a famous household name. You can see her in the news, hear her name on the radio, and her face is plastered on countless publications. She is famous for her personal finance books that are sold worldwide and known for her straight-talking and no-nonsense approach to money and debt.

The book “For the Young, Broke and Fabulous” has garnered a lot of following because the message hits the younger generation, targeting their lifestyle and giving out advice on getting started in the workforce, making the best out of your first few years on the corporate ladder, and following your dreams without sacrificing your future. Suze Orman discusses how the young generation has so much potential in them and how they can save, eliminate debt, and have enough to experience life at its fullest.

Rich Dad, Poor Dad by Robert Kiyosaki and Sharon Lechter
The book has changed thousands of its reader’s outlook on how they lead their life. Rich Dad, Poor Dad is all about acquiring financial knowledge and know-how. It illustrates to us how our perspectives about what it takes to be successful in our own rights. It provides practical guidelines including how to build wealth and buy assets, avoid debt and liabilities, planning for the future while living your life today, and how to go rich by living within your means.

Rich Dad, Poor Dad is full of amazing insights about money in general. Learning about your next step, and knowing the difference between an asset and a liability.

The Three Top Selling Personal Finance Books

In the recent times, there are many personal finance books available to you in lots of different selections. Once you go to the book stores, you actually just need to look into the best selling books in order to get the right books. This will help not to waste your times searching the one best of hundreds books available to you. Check out the best selling books of personal finance and get one that meet your personal needs.

Your Money Or Your Life: Transforming Your Relationship with Money & Achieving Financial Independence – the Book

Book entitled “Your Money or Your Life: Transforming Your Relationship with Money & Achieving Financial Independence” is the best choice for you. This is one of personal finance books which will answer all of your questions related to personal finance. If you get this book, you’ll find that this will meet all of your need of finance information.

This incredible book provides you valuable insights into changing jobs even if you can’t afford to create the switch. By read up this personal finance book, you can to improve your financial condition even you are in debt, need to alter your finance condition, or financially well-off.

“The Unofficial Guide to Managing Your Personal Finances” is the third choice of the excellent individual finance books are concerned. This is a practical guide that assists one manage one’s personal finances. Furthermore, this supplies useful insights into applying credit cards, dealing with banks, making investments, and how to shop for your car or house without breaking up the bank in the process.

If you want to manage your finance as well as want to have a better financial condition for a better future, you really need to check out these books. Although there are hundreds of personal finance books available to you, make certain you look into these three admirable books.

The Best Car Insurance Rates

If your car insurance is due for renewal and you are considering buying another policy then this article will provide you with important facts that you should know about. Car insurance policies are getting increasingly expensive and you should do all that you can to reduce your costs. How much you have to pay for your car insurance is dictated by a variety of factors as they apply to you and your vehicle.

In this article we will examine coverage limits, your age, gender and marital status, your location and insuring other household members. All of these factors will have a great influence on how much you will have to pay for your policy.

Coverage limits are generally dictated by the price that you are willing to pay for your insurance. A higher level of coverage will generally result in higher premiums. The best way to find a good value policy is to comparison shop. Nowadays it is generally accepted that the best way to do this is by using a car insurance comparison website.

Your age, gender and marital status will have a great effect on the auto insurance rates that you are offered. Insurers rate drivers using a variety of criteria, if you are a young single male driver you will usually have to pay higher rates. If you are a middle-aged female married driver then your rates will be lower. Insurers calculate the best car insurance rates for you by comparing levels of risk. Those groups which are statistically more likely to be involved in an accident have to pay correspondingly higher rates.

Location plays an important part in deciding how much your premiums will cost. Drivers who live in an urban environment will usually pay more than those from a rural area. This is because drivers who live in cities and heavily populated areas are more likely to be involved in an accident, or to have their car stolen or vandalized. Insurers generally offer better rates if you’re able to demonstrate that you keep your vehicle in a garage at night. You may also be able to improve the security arrangements of your automobile by fitting an alarm, immobilizer and steering wheel lock.

Insuring other household members will have an influence on the cost of your policy and the best car insurance rates that you offered. If you have teenage family members living with you and they are added to your policy, then your costs will increase. This may still work out cheaper than if your teenage driver were to have a separate policy in their own name.

In conclusion, there are a variety of different factors which can affect your ability to be offered the best insurance rates. Some of these are coverage limits, how old you are, whether you are male or female and whether you are married or single. Your rates will also be affected by the area where you live and whether other household members are included in your policy.