If you’re ready to make some major changes in your financial life, then check these five no-nonsense books about money. We read them all to help you choose the best one for you. Whether you’re trying to decide if you’re ready to launch your own business, start a family, or just get ahead in the world, here’s a guide to the latest personal finance and money management books, hot off the presses:
For young professionals trying to get ahead:
In Generation Earn, author Kimberly Palmer helps 20-, 30-, and 40-somethings get on top of their finances by saving more, living more frugally and supporting their growing families. Palmer, the personal finance columnist for US News & World Report, helps readers figure out when and how to pay off debts, how to earn more money, where to put savings, when to buy a house, and how to share money with romantic partners. She also disproves the stereotype that young people are bad with money and shows how the recession taught young professionals some useful lessons.
For psychology lovers looking for some insight into their spending habits:
In Farnoosh Torabi’s Psych Yourself Rich, the television personality explores why we make so many irrational decisions about money, and how to deal with that tendency. She interviews everyone from behavioral economists to ordinary consumers and shares her own life lessons, as well. Those lessons can help us all develop better discipline – and in some cases, more rational decision-making – when confronting financial choices.
For families considering big financial decisions:
Carmen Wong Ulrich’s easy-to-read The Real Cost of Living takes the reader on a personal tour of huge money decisions. Ulrich points out the “real cost” of many habits and lifestyle choices, from starting your own business to smoking to having a baby. She points out that the “real cost” isn’t always obvious, and even the way economists and the media talk about money can be misleading. For example, we’ve all heard of the “motherhood penalty,” but do mothers feel penalized for having children? Maybe financially, but children are such a joy, the personal and family benefits are immeasurable.
For people trying to master money basics:
Liz Pulliam Weston, the queen of online financial gurus, has come out with a new book, The Ten Commandments of Money, where she once again provides clearly written, easy-to-understand advice for people who are starting at square one with their finances. If you are struggling with debt, or to grasp the meaning of the term “credit score,” then Weston is for you.
For women in relationships:
In Get Financially Naked by Manisha Thakor and her coauthor Sharon Kednar point out that women often make the mistake of trusting their male partners too much – with money, that is. That’s why this dynamic duo recommends asking important questions before moving into together or getting married, especially about debt, credit scores, spending habits, and career plans. A financially healthy relationship starts with some honest talk, and this book can help you start the conversation.
Silicon Valley Blogger (SVB) runs The Digerati Life and The Smarter Wallet, where she writes about general personal finance topics such as investing, budgeting, debt management and small business ideas.