There are some great books out there to pick up some best practices and find new ways to save. Sometimes, the personal finance section at Indigo can be dauntingly big, and you never seem to make it into the library. And so here are some book I have found helpful, and you can simply type the name in on Amazon, and hopefully get yourself a used copy:
1) The Wealthy Barber and 2) The Wealthy Barber Returns. David Chilton has attempted to put Southern Ontario on the map, but mostly just put together a great book about budgeting, saving and the basics of personal finance. Even if you only take out ‘Pay Yourself First’, it is definitely worth your read.
3) All Your Worth. Written by a mother/daughter combo south of the border, and albeit them being Americans, it is still very relatable, and their money savings plan (Live off 50%, save 20%, 30% fun money) is a solid system. This book was hugely influential on me, I think I even sold my condo because of it! (I bought 2 floors down, and used the profits from my sale to pay off my mortgage).
4) The New Financial Advisor. Written more for advisors, I think this is a beneficial read for anyone who wants to get more out of their advisor relationship, or those without an advisor who are looking for what to expect when they get an advisor. Nick Murray has done a great job of putting together a very readable book.
5) Liar’s Poker. (Or any of Michael Lewis’s books) While definitely not a personal finance book, Michael Lewis has an extraordinary story telling talent when it comes to writing about the financial world, and making us see the financial world, its players and problems, in a different way. I think it is important that we do understand things beyond our our personal balance statements, and he is an easy writer to start with!
6)The Intelligent Investor. Endorsed by Buffett, this is probably the definitive book on value investing. Even though it was written a very long time ago, it is still relevant, and allows you to the details of investing (and what your portfolio manager is looking for) when it comes to your portfolio.
7) Adventure Capitalist/Investment Biker. Travellers – this ones for you! I picked this one up in an English secondhand bookstore in Antigua, Guatemala, and he recounts his trip around the world – the first time by bike, the second, 10 years later in a car with his brand new wife, finding out his investment research firsthand. He brings together all factors, such as wars he drove through, how hard it is for certain countries just to get things in and out of, the people and culture, and relate it back into his insights on the country, and whether he added or sold his investments there. I even added a few countries he went to to my ‘top 5’ list of countries I have yet to see!
8)The Black Swan. This is not the book that Natalie Portman’ Oscar winning performance in the movie is based on. Actually, it has nothing to do with ballet. It is a very easily read book on the unpredictability of markets. A fast read, and very interesting.
9) Living Thin. Ladies – This one is for you! This is actually a personal finance novel about one woman’s journey from being financially irresponsible and frivolous, to taking control of her life, and in turn seeing the rest of her life come together, written by a young author out of Australia, Antonia Magee.