What’s the Best PF Book For Beginners? I Need Your Recommendation.
June 3, 2009 – 6:43 am
Good morning fellow readers. I just want to take a moment and thank those of you reading this blog, especially the feed subscribers. I also need you help.
If you’re taking time to read a financial blog then it’s probably safe to assume that you fall in the top 5% of people regarding personal finance knowledge. I have two people in my life currently that I would like to assist, and I would like your advice and book recommendation(s).
The two people are:
- my sister-in-law (30, single, Christian, software developer, logical thinker), who lives within her means but doesn’t keep a budget.
- a friend of my wife’s friend (20, single, Christian, just going to college). She lived in China for 4+ years with her missionary parents, and has little or no financial or “street” experience.
What book would you recommend I give her in an effort to influence a behavior change in this area? I’ve read quite a few books, and here are the choices that come to mind easily (in no particular order):
- The Wealthy Barber. I like this book because it covers a wide variety of topics, but I’m not sure a “parable”-style book will cause the reader to take action.
- The Richest Man in Babylon. This is another “parable”-style book, and although I enjoyed it I’m not sure either of these two people will be receptive based on the title (neither probably desire to be “rich”)
- Your Money Or Your Life. This is my favorite book of all time in PF, but the investment information is dated and I’d hate to think of sending a 20 year old down a path of investing in treasure bonds for life.
- Master Your Money. This book is written from a Christian perspective which will be well received by these two people (both strong Christians).
- The Total Money Makeover. I like Dave Ramsey and agree with about 90% of what he teaches (I agree with 100% of what he teaches for beginners). This book just didn’t seem all that impressive to me, but it’s entirely likely that I’m not the right audience for it.
This would be much easier for me if I could recommend five or ten books to a single person, but I’m not sure either of my friends will read more than one book. Do you have single book that you would recommend to my sister-in-law and friend of the family (they can be different books for each if you want)?
Image Credit: eleaf
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3 Responses to “What’s the Best PF Book For Beginners? I Need Your Recommendation.”
How about Financial Peace, also by Dave Ramsey? Or perhaps one of Suse Orman’s books – I think there is one called Young, Broke and ..? My personal favorite financial book is the Richest Man In Babylon, and Debt Free Living (Mary Hunt.) But if neither of them are in debt or never have been,then they might not truly appreciate DFL.
By laneerg on Jun 3, 2009
The first personal finance book I read was The Total Money Makeover. It was a great way to get some foundation and start to understand the topic. Plus I started to look for other books related to personal finance after. I think that for a starter it is probably a great option.
By Matt @ My Financial Recovery on Jun 5, 2009
The Wealthy Barber might be easier to digest for someone with no real world money experience. It gives an overview of budgeting, investing, retirement planning, and real estate, and could spark a person’s interest in their financial education. It was one of the first personal finance books that I read, and I found it very easy to follow.
By Corporate Barbarian on Jun 6, 2009