In this post I thought that I'd share a few of the tips that really resonated with me and what I loved about some of the books I've read so far.
1) 397 Ways To Save Money by Kerry K. Taylor:
Feature I loved: Month-by-Month Maintenance Checklist
Best Tip: Fly from a U.S. airport.....great for those of us who live close to a border!
2) Rich by Thirty by Lesley Scorgie:
Feature I loved: A list of file folder topics for a standard filing system
Best Tip: Always take free money. In my last job my employer matched RRSP contributions up to 4% of your income. It baffled me that not all of my colleagues were taking advantage of this money.
3) The Automatic Millionaire Homeowner by David Bach
Feature I loved: The Double Latte Factor Challenge - included writing down each bagel, donut, coffee, phone service, modem rental, etc. that you charge each month and tracking if the item can be either eliminated or reduced.
Best Tip: Don't be afraid to ask for a better deal when shopping around for a mortgage (not necessarily on the rate, but perhaps on the closing costs)
4) Thrifty: Living the Frugal Life with Style by Marjorie Harris
Feature I loved: The shopping tips - for a mattress, dishwasher, home decor, auction and estate items, and especially the garage sale how-to
Best Tip: Buy well and you buy once. Quality is the hallmark of thrifty shopping.
5) The RRSP Secret by Greg Habstritt
Feature I loved: The sample mortgages. Having never purchased a home I'd never seen a mortgage document.
Best Tip: Do the math on your deal and you may find out that what seems like a high interest rate allows you to create a significant profit.
6) Home Girl by Brenda Bouw
Feature I loved: The Checklist and Common Mistakes to Avoid at the end of each chapter
Best Tip: To avoid nasty surprises [when buying a home] spend some time in your desired neightbourhood at different times of the day.
There are some wonderful books out there, and these are just a snapshot of the books I've enjoyed.
What are your favourite personal finance books and what are the best tips you've learned?
Definitely The Wealthy Barber. I particularly liked the section on insurance (as it explained to me why I don't actually need life insurance and what the difference is between term and comprehensive insurance).
ReplyDeleteIf you haven't yet read "Debt Free Forever" by Gail Vaz - Oxlade, I suggest you give it a read. One of the best I've ever read. You can probably borrow it from your local library.
ReplyDeleteI read teh Dave Ramsey book since everyone raves about him...I couldn't get into it though. I felt like it was such a chore to read and I'm not entirely sure I agree with his principles all that much...
ReplyDeleteI'll add those to the list of future books!
ReplyDeleteI've read a lot about the Dave Ramsey's snowball strategy to paying off debt on PF blogs. I wonder if he covers savings as well, or only debt?