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17 April . 2018

Need a great book club pick? These personal finance books offer rewarding reading

Drama. Intrigue. Suspense. Exhilarating highs and heartbreaking lows. Who says that personal finance and investing can’t be fascinating topics for your next book club selection?

Here are 5 personal finance books recommended by 5 different publications and websites for 2018. All are available on Amazon.com.

  1. On NerdWallet, personal finance expert Liz Weston recommends “Your Money or Your Life,” by Vicki Robin and Joe Dominguez. Weston says: “Everyone should read (this book) that encompasses savings, paying off debt, and how ordinary people can achieve financial independence.” She says the book is especially appealing to people who want to retire early or simplify their lives. It offers some new basic strategies for getting smarter about money, including viewing spending in terms of the time it costs you to earn the money.

  2. The Cut has a list of “9 Books About Money That Every Woman Should Read.” Topping the list is “The Index Card,” described as perfect for “the minimalist who loves lists.” This book promises to deliver everything you need to know about managing your money in 10 rules that fit onto a single four-by-six-inch index card. The 10th rule is, “Remember the index card,” so there are actually only nine rules to remember. Each short chapter expands upon rules such as “Your financial advisor is not your friend.”

  3. Topping The Balance’s list of the year’s nine best personal finance books is an updated version of what it calls the No. 1 bestselling personal finance book of all time, “Rick Dad, Poor Dad” by Robert Kiyosaki. The book’s subtitle delivers the basic message: “What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not.” Now 20 years old, the book’s advice is as timely as ever, such as gaining the perspective that not all debt is bad, and how to work your way to wealth even without a huge income.

  4. CNBC recommends the intriguing “The Millionaire Next Door: The Surprising Secrets of America’s Wealth,” by Thomas J. Stanley and William D. Danko.  Based on the premise that truly wealthy Americans live frugal lifestyles and rarely indulge in flashy spending, this book lays a foundation for living within one’s means and offers advice for gaining financial freedom. It explains how all decisions, from buying a home to purchasing a car, can impact long-term wealth.

  5. Frugal Rules recommends “The Art of Money: A Life-Changing Guide to Financial Happiness,” by Bari Tessler. Calling herself a financial therapist, Tessler offers the possibility of “money healing” by examining your relationship with money, and exploring that relationship as a gateway to self-awareness.

These books should help reduce some of the stress that comes with the topic of personal finance, which 62% of respondents listed as their biggest source of anxiety and worry in the American Psychological Association’s 2017 Stress in America poll.

Another good option for relieving stress could be make a smart decision to invest in a new home in a community like Sweetwater, which devotes roughly half of its 1,400-acre master plan to parks, trails, recreational amenities and natural open spaces in the beautiful Texas Hill Country.