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5 Money Books Will Change Your Life Financially!
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Do you wonder if it is possible to read 5 easy to read books to move your finances forward? This post will show you the 5 books that have taught over millions of people how to be on their way to a millionaire. Take the stress out of finances! Plus Christmas is just around the corner — add them to your list!
Automatic Millionaire by David Bach
What we think will change your life.
This book is 100% on how to set it and forget it. No one really wants to think about money all the time and have it be consuming your life. This book is the best to teach you how to set up your money life to be able to be automatically so you can live your life where it matters.
What we loved about it.
We were doing like 85% of these items he talked about so it was an affirmation for us to keep going on our path. Gave us an easy read. I mean I read it in 2 days with a baby. I usually cannot finish books or it takes me a long time. I am learning though as a SAHM I want to enjoy reading and learning to keep my brain fresh of topics to teach you all!
The new thing we learned.
We do not have a mortgage of course because my goal is to pay for a house with cash, but it did teach me you can pay your mortgage biweekly to pay off your home early! Most mortgage companies do this. Just ask! Or if you do not want to pay biweekly you can pay one extra payment once a year to pay off your home early. (Which I figured this as we pry all did) please laugh at the humor!
Complete Guide to Money by Dave Ramsey
What we think will change your life.
It is a back to the basic book that will change your life! It will give you all you need to know to get started paying off your debt and on your path to debt free. If you are already debt free, it will give you motivation to stay out of debt.
What we loved about it.
As we took the Financial Peace University, this book was a good reminder tool for us when we had days we just wanted to spend a little bit too much or when our budget was getting out of wack. We are human and sometimes even professional budgeters have to pull themselves back into the budget! That’s why people love working with us because we are real and down to earth!
The new thing we learned.
I love the story of Ben VS Arthur. It shows Ben starting to save at 19 and invests $2,000 until 26 and ends up with $2.2 Million. Arthur starting at 27 and invests $2,000 until 65 and ends up with $1.5 Million. The power of compound interest!
Add these books to your Christmas list and start saving for the Holiday!
I Will Teach you to be rich by Ramit Sethi
What we think will change your life.
You have to find what brings you joy in life and how you want to be rich. He sets an entire chapter on spending and spending money on what you love. I love this because he explains that his friend spent $21,000 per year going out guilt free. If your marriage strives by having weekly date nights, then I would say you need to spend money if you have it and not on a credit card. Maybe, not as much as $21,000, but you do you! Have no guilt if it is paid with cash and you’re saving for your future!
What we loved about it.
It is a different perspective than Dave Ramsey. We love how he embraces that everyone is different and have a different importance to how they will be rich.
The new thing we learned.
If you want to spend $5 on coffee every day because it makes you happy. Do it! Do what makes you happy! You want to spend money on travel because it makes you happy do it! There is a happy medium between spending money and savings.
The Money Book for the young, fabulous, and broke by Suze Orman
What we think will change your life.
Chapter 4 talks about student debt and a lot of different scenarios. It will give you the information you need to repay your student loans whether you are just married and both of you have debt, or you are single, or you have lost your job.
What we loved about it.
It is a good book to reference each part of your life. We got this book back in college and used the student loan section to really get hyped about paying off student loan, then once my student loans were payed off. I referred back to it for the car section to pay cash for a car. Now, my husband and I referred back to it just this year when we were looking at buying our first home. However, after reading it we realized we are still not quite ready to buy a home! Because we want to be financially prepared yet. It is in our path though! Patience is key. Patience. Patience.
The new thing we learned.
A higher deductible on your car insurance reduces the rate by 30% and keeps you in the insurances companies good grace. We all love ways to save money on car insurance even during the pandemic!
The Cheapskate Nextdoor by Jeff Yeager
This book was actually a gift from my older sisters and even shares a good card in it for me to remember money is a gift from God and where ever we are is a gift from God.
What we think will change your life.
They mention the power of communication and compromise. This will hit home for you if you are marriage, and will even do so if you are single and, in a relationship, and thinking about getting married in the future. Because frankly you want to ensure you are on the same page financially. It will save your marriage! Most marriages end up in divorces because of money fights – do not let it be you!
What we loved about it.
It gives you good ideas on how to cut costs. We are all about looking for ways to cut cost and it reminded us we can do a meatless money for our meal planning.
The new thing we learned.
The key to negotiate. He shares 12 of his bartering tips and the basics of bartering. It is really neat how it works because it really did work for us and the car we bought with cash!
Bonus
Everyday Millionaires. How Ordinary People Built Extraordinary Wealth- and How You Can Too by Chris Hogan
What we think will change your life.
Many people they surveyed in the book were just regular people and telling us how they did it. If you are in the middle of your financial journey and are feeling a rut. This is a must-read book and to show you anything is possible. Nothing is impossible! Everyone can become a millionaire!
What we loved about it.
Knowing we are on the right path to become millionaires, and we can teach you how to become a millionaire to when you keep following and reading our blog.
The new thing we learned.
A little nugget we took from it was that when we buy our dream home once we are done living tiny. We can upgrade our home if we buy a fixer upper in our time frame and financially pay cash for it. This means saving up $5,000 to redo a bathroom, and then doing it. Then saving up again another $5,000 and doing another room. Instead of taking out a home equity loan to redo it all at once with a $20,000 loan.
Thanks for reading! We encourage you to take one step and move your finances!
Those are some amazing books, right? 5 easy to read books that millions of people have read-does it get any better than that? You can check out more articles that will help you move your finances.
Like if you have read one of these books and it has helped your financial journey!
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We are the Maloneys!
We are here to help you live a better life by believing, budgeting, and growing your networth!
We paid off 112k worth of debt in 6.5 years, cash funded our $10k wedding, saved $10k for our baby, paid for 2 cars with cash, and grew our networth to six figures!
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