However, women also have weak points where money is concerned. Women tend to be more cost-conscious shoppers, save more of our income, and be more cautious about debt. Numerous studies show that women handle money differently from men. By “paying yourself first” and making your plan automatic, he argues, you can build wealth steadily, even if you don’t earn a high income. He explains how to redirect a few dollars per day into investments by looking for what he calls your personal “latte factor” - small regular expenses that add up. The key to Bach’s system is setting up an automatic investment plan through which you invest just a few dollars every single day. In this volume, he outlines a plan not to get rich fast but to get rich slowly and surely over your lifetime. 1 spot on The New York Times bestseller list. Of David Bach’s 12 books on personal finance, 11 have been national bestsellers, and two - including “ The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich” - have hit the No. “The Automatic Millionaire” by David Bach This book is an excellent choice for beginners and anyone who likes easily digestible advice that’s easy to remember. But they’re also laid out in a list you can copy onto an index card for easy reference. Pollack and Olen focus on common-sense rules, such as “strive to save 10 to 20% of your income” and “pay your credit card balance in full every month.” Each of these principles gets its own chapter. It prompted a flood of requests for such a card and eventually inspired the two to turn the idea into a book. The idea grew out of a 2013 interview of Olen in which Pollack offhandedly commented that the best financial advice could fit on an index card. If you want a more modern, straightforward approach to personal finance, check out “ The Index Card: Why Personal Finance Doesn’t Have to Be Complicated.” It boils down the basics of money management to 10 simple rules short enough to fit on a 4-by-6-inch index card. “The Index Card” by Helaine Olen and Harold Pollack But if you prefer a bound copy, you can buy it from Amazon or Bookshop. It emphasizes principles like living within your means, saving for retirement, and avoiding risky investments and get-rich-quick schemes.īecause this older book is no longer under copyright, you can read the full text for free online at the Internet Archive. This classic text remains popular with 21st-century readers because it presents sound financial wisdom in a clear, compelling way. The stories were such a hit in 1926 that they were bound together and published as a book. Clason illustrated financial principles through parables - specifically, short stories set in ancient Babylon. But he didn’t simply lay out facts like a textbook. Clason wrote a series of informational pamphlets for banks and insurance companies to hand out to their customers. “The Richest Man in Babylon” by George S. They’re the perfect way for financial newbies to learn the basics of earning, saving, investing, and developing smart money habits. There are several books on money that offer a broad, all-around primer on personal finance and money management. Most books on a particular financial topic cover pretty much the same ground. Of course, there’s no way you could read every single personal finance book on the market. At your local library or bookstore, there are hundreds of books on all aspects of dealing with money, from basic budgeting to early retirement. One way to improve your financial literacy is to read up on the subject. In a 2019 survey by The National Financial Educators Council, 1,500 Americans said their poor financial fitness had cost them an average of $1,230 in the past year. A 2018 study by the FINRA Foundation found that only one in three Americans could correctly answer at least four out of five questions about simple financial concepts like compound interest and inflation. Most Americans today are woefully lacking in financial literacy.
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