The Millionaire Next Door by Thomas J. Stanley and William D. Danko
This book profiles US households with net worths of at least $1,000,000. Not only does it dispel the myth that most millionaires inherit their money, but it also details the saving and spending habits that helped these individuals accumulate their wealth. Since this book focuses on their lifestyle choices rather than investments, you don’t have to know anything about investing to benefit from reading it.
Why Smart People Make Big Money Mistakes and How to Correct Them by Gary Belsky and Thomas Gilovich
This book studies why we make the decisions we make when it comes to spending, saving, and investing. The authors believe - and I wholeheartedly agree - that by studying the psychological factors behind your economic decisions you'll be able to change your behavior in ways that will benefit you financially.
Investing in an Uncertain Economy for Dummies® by Sheryl Garret and Members of the Garrett Planning Network
This book contains over 80 investing and financial planning "tips" from independent, fee-only advisors. The fact that it touches on so many topics - rather than focusing on a single area like "mutual funds" or "insurance" - makes it a great resource for new investors or a reference for experienced investors. Full disclosure: although I’m a contributor to this book, I don’t receive any compensation when someone purchases a copy.
Common Sense on Mutual Funds by John C. Bogle
Most investors are better off investing in mutual funds rather than selecting individual stocks and bonds. Unfortunately, even if you narrow down your investment choices to “mutual funds”, you're still left with thousands of alternatives. This book will help you sort through the noise and get a better understanding of the world of mutual funds.
Deal with Your Debt: The Right Way to Manage Your Bills and Pay Off What You Owe by Liz Pulliam Weston
Most books on debt focus on how to eliminate it completely and encourage readers to avoid debt at all costs. But since most people find completely avoiding debt unrealistic, this book helps readers understand how to manage it effectively. It covers strategies for dealing with every form of debt including credit cards, student loans, auto loans, and mortgages.
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