The Frugal Frenchie x
Most of us aren’t taught about money in school. But why not?
Chances are you use money every single day. Money – or lack of it – can affect our comfort, stress levels and daily life like nothing else. I’d argue it’s the most important thing you can spend time learning about!
Luckily, there are loads of great books out there that can help you out. Whether you want to learn about budgeting or investing, living with less or earning more, there’s a book that can answer all your questions.
Here’s my pick of five great books to start you off on the right foot.
If you only read one book about money, make it this. Erin blogs about money over at Broke Millennial, and she’s recently released her first book by the same name.
This one book covers absolutely everything you wanted to know about money but didn’t know who to ask. From personal finance basics such as understanding credit scores and student loans to trickier issues such as awkward money conversations with your partner or asking your boss for a pay rise – it’s all here.
You can read this book cover to cover or keep it as a kind of reference guide to dip in and out of. Also, this book is funny and easy to read. It feels like having an honest chat with a particularly savvy friend.
Andrew Hallam became a millionaire in his 30s while earning a very normal salary as a teacher. In this book, he explains how you can make your first million too! And no, you don’t have to score a record contract or invent a groundbreaking new tech product. Andrew’s method is based on living simply, saving and investing – a method accessible to anyone, at any age and on any salary.
I often hear people from our age group wondering what’s the point in saving when we don’t seem to earn enough. If that’s you, this book will prove you wrong. Not only will it change your money mindset and explain exactly why you should want to save and invest, it gives you a step-by- step road map to follow.
Hint: Andrew’s recommended form of investing is nothing to do with yelling down the phone at your stock broker like you see in films. It’s called “passive investing” and it takes just an hour of your time… per year.
Even if you’ve never considered investing before, you’ll be itching to open your first account before you even finish this book!
With a title like that, how can you resist! I Will Teach You to Be Rich is a six-week plan to get your financial act together. If you follow the easy steps in each chapter, you’ll go from knowing zero about money to having the best possible bank accounts and credit cards, a plan to pay off debt, a super simple budget, and automated savings and investment accounts.
The best thing is, the plan is designed for lazy people. This book will teach you how to set it and forget it so you can get on with living life, without juggling piles of bills and receipts each month. I Will Teach You to Be Rich is aimed mostly at young professionals with a bit of disposable income – but anyone who reads this book will learn something to improve their finances. It also comes with loads of extras, such as downloadable spreadsheets, scripts for tricky phone calls to the bank, and links to online tools.
There’s a UK edition and a US edition, so make sure you pick up the one that’s most relevant to you.
Your Money or Your Life by Vicki Robin and Joe Dominguez
This is a personal finance classic that will completely change the way you think about money.
Your Money or Your Life came out around 20 years ago but it still feels really fresh and modern to me. It encourages a lifestyle based on simple, frugal living, anti-consumerism and mindfulness. It teaches you to see money in terms of your time and energy and helps you work out your real priorities in life.
This is the book that kicked off a whole movement based on retirement. Yes, there are people who retire early – seriously early, like in their 30s – and it’s possible for you, too! Your Money or Your Life is a must for anyone who feels like money worries rule their life, and wants to embrace a different way of living.
The 4-Hour Work Week: Escape the 9-5, Live Anywhere and Join the New Rich by Timothy Ferriss
Ok, this isn’t strictly a ‘money book’, but I had to include it because a) it’s brilliant, and b), it will totally change the way you relate to working life – which is basically all about money anyway.
The 4-Hour Work Week will change the way you think about careers, entrepreneurship, and what you’re doing with your life. This is an awesome book for millennials staring down the road of 40+ long years before retirement. It will fire you up and arm you with practical suggestions on how to live a different life.
There are loads of fantastic tips on time management and productivity which will serve you well whether you’re a student, employee or wannabe entrepreneur. It even gives you a step-by- step guide on how to start your own side business.
What do you think of my selection? Do you have any other favourite money books? I’d love to hear your suggestions, let me know in the comments below! Alternatively, you can tweet me at @BoostMyBudget