Review: Personal Finance Books

Books:

-Total Money Makeover - Dave Ramsey (abridged)

-The Millionaire Next Door - Thomas J. Stanley, William D. Danko

-Get a Financial Life - Beth Kobliner

-The Perfect Balance - Hannah McQueen

Date completed: September 2016

I had taken a Dave Ramsey's personal finance class for teenagers back when I was in my early teens and it served me well to the present. Now that I'm student-loan free (woot!) I was on the market for some more adult-focused financial advice and coincidentally another listener of the book recommendation podcast I listen to was in the same boat. So, I was able to put together a short list of books to checkout from the library. I listened to abridged versions of The Millionaire Next Door and the Total Money Makeover. Then read Get a Financial Life: Personal Finance in our 20s & 30s and The Perfect Balance: How to get ahead financially and still have a life. Of them all, I really appreciated The Perfect Balance and if I were asked to recommend a book to a friend, this would be it. As the title implies, it provided a very balanced approach to managing one's finances.

Rather than a one-sized fits all approach, she took into account people's personalities, goals, and lifestyles more than the other books I read. I liked how she includes even the smallest and seemingly silliest "must-have" items into someone's overall financial goals and plan. If having that designer coffee each morning and a vacation once a year will help you stay on the overall track for long term goals, factor those things in rather than feel deprived for years on end and eventually bail out.

Keep in mind that the author lives in New Zealand, so some of the details and examples she gave are specific to that country's unique economy and laws, but the general principles are applicable beyond kiwi borders.

I'm glad I took a few weeks to read through several financial experts' advice and have found renewed inspiration to continue paying off my auto loan and mortgage early. I felt empowered to re-work parts of my budget to keep a lifestyle I am comfortable with, but still work steadily towards my financial goals.