I have read over five dozen books on financial matters, frugality, and wealth accumulation. The books listed below are the ones that I believe will give you the quickest start along your own road to financial independence. For each I give a brief review of its main principles and a dollar-sign grade regarding my opinion of their use to you..
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A "must read" to get you started saving money and decreasing expenses
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A good read after you've been tracking your expenses for a month
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A motivational read to keep you on the wealth-building trail
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A "maybe" read, if your personal vision suggests it will interest you.
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A volume dedicated to the other side of the wealth-building equation (income growth) rather than frugality and savings
Happy reading and good luck getting the flow of money initiated in your life!
$$$$ Aslett, Don; Clutter's Last Stand and Not for Packrats Only; 1984 A good friend said to me, ''Janine, you're doing these financial seminars, you've mentored me for awhile, and you've got to talk about clutter.'' I think Aslett does a much better job talking about clutter than I ever will. He ran a cleaning company; I immediately fell in love with these books because I put myself through school by cleaning homes. My first reaction after reading his books was, ''Where was he when I was doing this?'' I would have done my job faster and more efficiently. His style is light and humorous and I enjoyed the line art that is used to drive his point home. It is a fast read as well as powerful. Most importantly, the connection between too much stuff and poor financial habits is real, and Aslett's philosophy will help you to break the chain on the, ''I have too much stuff'' end.
$$$ Avanzini, John; 30, 60, Hundred Fold-Your Financial Harvest Released; 1989 I recommend you get this out-of-print book from the library. The last two chapters are the most powerful; however, you have to read the whole book to understand why the last two chapters have such punch. Avanzini talks about how our moving from an agrarian society to an industrial one cost us our understanding of how money grows. It is an excellent description on how the Universe handles philanthropy. He uses the analogy of the farmer and a field of wheat. It is a fascinating story showing us how we've lost our understanding of money since we no longer grow our own food. Avanzini is a Baptist minister and there are frequent scriptural references. If you're not a Christian, you will find yourself skimming through a lot of it, but the financial principles are sound.
$$$$$ Bach, David; The Automatic Millionaire; 2004 Bach is a financial planner and calls upon an interesting couple that came to him for advice on financial independence. Their story, which is the basis of the book, tells how they taught him to become wealthy. This book is a fast read and gives excellent pointers on how to make your wealth accumulation program automatic. In my experience, the less you have to think about it and make adjustments, the better off you'll be.
$$$$$ Bolon, Janine; Money…It's Not Just for Rich People!; 2005 Yep, this is a totally shameless recommendation of my own book on the subject of wealth accumulation and financial independence. On the other hand, this volume is filled with tools that really work, tools that you will need to change your attitude and habits about money and confront the main mental obstacles you harbor that have kept you from becoming wealthy. I give you simple systems and exercises to allow you to start doing small things each week that will rapidly move you from a mentality of poverty to a mindset of abundance.
$$$$ Dacyczyn, Amy; The Tightwad Gazette (three volumes), 1995 I recommend that anybody who wants to truly learn how to be frugal, even if you already think that you're frugal, buy this book. Dacyczyn (pronounced ''decision'') is incredible when it comes to saving money. I guarantee that you will learn something.
$$$$ Dominguez, Joe and Robin, Vicki; Your Money or Your Life; 1999 The authors of this book do a wonderful job of assisting you to work through the emotions that are distorting your view of money. I use this book all the time in my seminars, and believe that the principles described here are pivotal in assisting people to get out of debt and into financial independence. Brad and I suggest that you take the advice on investing (buy bonds and nothing else) with a truckload of salt. When the book was first written in the 1970s, bonds were commanding a hefty 13% return!
$$$ Harris, Blaine & Coonradt, Charles, The Four Laws of Debt-Free Prosperity, 1996 This is a great refresher book. It is one man's walk from a heavy debt load to financial peace with the guidance of a kindly neighbor. I like the style of it told in story form, and I enjoyed the witty tit-for-tat between the main character, Paul, and his wealthy neighbor, Mary.
$$$$ Hunt, Mary; The Complete Cheapskate, 2003 This book is excellent if you have credit card debt. It will help you work through addictive behaviors that are not in your best interest as a wealth accumulator wanna-be. Mary describes her own dependency on credit, how her family took 14 years to pay off the debt and her vision to keep others out of that consumer credit trap.
$$$ King, Dean; The Penny Pincher's Almanac Handbook for Modern Frugality; 1992 This is a small book, but it packs punch! There are hundreds of simple ways to save yourself money. Some of the topics discussed are shopping strategies, food, home, appliances, utilities, clothing, automobiles, health, money management, education and enjoying the life you're leading.
$ Kiyosaki, Robert; Rich Dad Poor Dad; 1998 Once you have learned to live within your means and you have all your credit card debt paid off, this is a great book to start learning how to double your income. This will help you to the next phase of wealth accumulation. Keep in mind that the principles will apply even if you choose another means than real estate (the route that Kiyosaki advocates for building wealth).
$$ Long, Charles, How to Live Without a Salary, 1980 I enjoy Long's laid back view on life and his ability to haggle. I learned the art of barter through this book and how to think through what I thought I needed versus what I really needed. You'll find his real life examples charming and informative.
$$ Orman, Suze; The 9 Steps to Financial Freedom; 1997 Orman is a certified financial planner who spent a good part of this book discussing attitudes about money and how we hurt our financial future by not addressing them. I liked her practical approach to investments, estate and retirement planning. When you are out of debt and ready to invest, this is a good book to start you on your way to being your own best financial councilor.
$$$ Stanley, Thomas and Danko, William; The Millionaire Next Door; 1996 I recommend this book if you think you're alone in your goals. You'll find out how real millionaires live. If you want to learn more about the lifestyle, this is the book for you. The research Stanley and Danko have done is eye opening as they asked 385 millionaires about their lifestyles, how they spend their money and what they do for leisure.
$$ Stanley, Thomas; Millionaire Women Next Door; 2004 Stanley continued his research and came up with a sample population of 233 women who had a net worth over $1 million or more. He then discussed the difference between millionaire women and men as well as the attitudes that others had about these two different populations. Wonderful stories of successful women and how they impact their communities.
$$$$$ Start Late, Finish Rich by David Bach; 2005 So you feel you've started late? You're not alone. This is what David Bach has to say in this wonderful volume. This book is a great resource for anyone over the age of 30 who has just begun to think of their future retirement plans as well as becoming financially independent.
$$$$$ The Jackrabbit Factor I just finished this great book by Leslie Householder. I highly recommend it for those of you trying to understand how to get money flowing in your life! This book is wonderful at demostrating how money works, why the debt-free cycle works and how important the abundance attitude is in breaking out of debt. Leslie has written this book in the format of a story and it is very compelling how her fictional family moves from desperation to abundance after some emotional lows that morph into triumph.
