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Books for budgeting, investing, etc.

Posted on 7/1/15 at 9:49 pm
Posted by MadtownTiger
Texas
Member since Sep 2010
4204 posts
Posted on 7/1/15 at 9:49 pm
Hey guys, I lurk this board a good amount. I'm not the best with everything money talk related, and would like to learn more. I have read several of the threads in the sticky, but was kind of wondering what books y'all have read on general life budgeting, investing, etc.

Was turned on to Dave Ramsey's classes from my sister, who just recently started working with an investment company, but being in graduate school I don't necessarily have the funds for one of his $150 classes.

Thanks for any information.
This post was edited on 7/1/15 at 9:49 pm
Posted by GenesChin
The Promise Land
Member since Feb 2012
37706 posts
Posted on 7/1/15 at 10:08 pm to
Read Mr. Money Mustache free online

The key to being smart with money is recognizing the difference between what you want and what you need. If you buy only what you need long enough, you won't even blink an eye at spending money on what you want.

For example, people want a new car but they onlyneed transportation. If your car runs, there is no reason to buy a new one.

Just start doing that in every part of your life. Food, clothes, phone + service, cable etc.


Posted by Omada
Member since Jun 2015
695 posts
Posted on 7/1/15 at 10:09 pm to
Haven't read any budgeting books really, but that might have something to do with me being a finance guy. Financial books I have read...
Investing: One Up on Wall Street by Peter Lynch, Common Stocks and Uncommon Profits by Phil Fisher, The Black Swan by Nassim Taleb, The Intelligent Investor by Benjamin Graham
Other Financial Books: Rich Dad, Poor Dad by Robert Kiyosaki, Think and Grow Rich by Napoleon Hill, The Millionaire Fastlane by MJ DeMarco

My best recommendation, since you are strapped for cash, is to use Google to find a pdf file of the book for free (legally). That's how I get most of my books. However, some books, especially newer ones, may not be available.
Posted by Volvagia
Fort Worth
Member since Mar 2006
51894 posts
Posted on 7/1/15 at 11:36 pm to
Look at the podcast "Money for the Rest of us"

Good and informative, and geared for a novice.

Not to meation free.

If he seems like your cup of tea, he gets more detailed with monthly market analyses in a subscriber only thing around ~20 bucks a month as well as gets into more detail about his weekly topics.

He does not offer investment advice or "hot stock" picks, so if that is what you are looking for move on.
This post was edited on 7/2/15 at 12:40 am
Posted by Azazello
Member since Sep 2011
3182 posts
Posted on 7/2/15 at 9:41 am to
Read these two blogs:

Mr. Money Mustache
Retire Before Dad

That's all you need.
Posted by gpburdell
ATL
Member since Jun 2015
1419 posts
Posted on 7/2/15 at 9:54 am to
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 7/2/15 at 10:04 am to
MMM is a bit extreme for me

"For a windfall over $5000, you may get yourself one gourmet coffee or a Chipotle Burrito, but that’s about it"

bullshite.
Posted by bayoubengals88
LA
Member since Sep 2007
18883 posts
Posted on 7/2/15 at 10:07 am to
seriously?

I thought Dave Ramsey was a bit extreme, but apparently he's not.

"Total Money Makeover" if you're a Christian or can get through the Christian theme. Some it bothers, some it doesn't.
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 7/2/15 at 10:14 am to
Bet your arse if I get a $5000 bonus I'm gonna have a nice steak as a start
Posted by StringedInstruments
Member since Oct 2013
18330 posts
Posted on 7/2/15 at 12:13 pm to
quote:

MMM is a bit extreme for me

"For a windfall over $5000, you may get yourself one gourmet coffee or a Chipotle Burrito, but that’s about it"

bullshite.


But MMM to me is great for developing a philosophy for why you are saving money.

An easy example is cutting the cord. You can look at it like you are saving $100 a month or $1200 a year.

Or you could look at $1200 a year as a nice vacation.

Or you could look at $1200 a year as $12000 in ten years, which turns into $12000 + 4% return.

Or you could look at $1200 a year as $36000 in thirty years, which could be a monthly income of $1000/month for three years of your life.

MMM also discusses how experiences and enjoyment of life isn't about stuff and purchases now but rather found in other opportunities in life such as camping with your family or hiking a mountain or going for a bike ride.

It's a good read.
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