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What's the best overall Money Management book?
Old 11-20-2012, 06:48 AM   #1
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What's the best overall Money Management book?

I'm looking for some opinions for a very good Financial/Money Management book for young families that will provide some good basic overall insight and tools on how to management and pay down debt, save for and buy a home, build a 6 month emergency reserve, and invest for retirement.

I see that Suze Orman and Dave Ramsey have several books, but not sure which would be the best, so I'm hoping some of you guys can provide some insight.

Thank you
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Old 11-20-2012, 07:19 AM   #2
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Dave Ramsey's approach doesn't make the best objective sense. But in my opinion it does provide the best practical sense for people with multiple debts and having difficulty digging out of that debt.
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Old 11-20-2012, 07:19 AM   #3
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I know that some people will barf at this, but I am a big fan of Money magazine. I seem to recall that they offered some useful "guides" that may be in the vein of what you are looking for that were bonuses for subscriptions.

The "problem" with Money and similar magazines is that while they offer a lot of solid advice (like investing regularly in no-load, low-cost index funds long before it was fashionable), they also have articles that could encourage one to do some undesirable things if you don't put them in perspective (like trumpeting the currently hot mutual funds or stocks). You just need to be able to sort through the chaff for the wheat.
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Old 11-20-2012, 07:57 AM   #4
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One of the first books I read many moons ago that got me started on what I call financial maturity, More Wealth Without Risk by Charles Givens.

More Wealth Without Risk: Charles J. Givens: 9780671694036: Amazon.com: Books
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Old 11-20-2012, 10:22 AM   #5
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If a book is the way you want to go, I understand that. I read about a dozen of them back when... BC (Before personal Computers).

With the breadth of knowledge & opinions on the internet, if I were to do it today (what am I saying? I am doing it again today) I'd establish a sort of Table of Contents (topics I'm interested in learning about) and then reading many articles on those topics -- a chapter at a time -- to get a broader big picture perspective. YMMV.

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Old 11-20-2012, 11:52 AM   #6
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One of those big thick books by Jane Bryant Quinn such as
Amazon.com: Making The Most of Your Money (9780671786694): Jane Bryant Quinn: Books
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Old 11-20-2012, 11:55 AM   #7
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Quote:
Originally Posted by marc515
I'm looking for some opinions for a very good Financial/Money Management book for young families that will provide some good basic overall insight and tools on how to management and pay down debt, save for and buy a home, build a 6 month emergency reserve, and invest for retirement....
Our children in their late teens both read Personal Finance for Dummies, although they are far from being dummies (and both ended up in corporate finance). It may be too basic in terms of what you're looking for, but the book covers everything you describe in a clear logical way and DD especially took it to heart.
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Old 11-20-2012, 01:01 PM   #8
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Quote:
Originally Posted by LOL! View Post
One of those big thick books by Jane Bryant Quinn such as
Amazon.com: Making The Most of Your Money (9780671786694): Jane Bryant Quinn: Books
A Big + 1 for the Jane Bryant Quinn Book. In case you didn't already know. Jane Bryant Quinn wrote a newspaper syndicated finance column for 27 years and really knows her stuff. So the writing is very clear and easy to follow.

The book was originally written in 1991 , updated in 1997, and updated again in 2009.

I suggest you buy the 2009 updated version. Although I couldn't help but notice that the older version (which I have) is for sale used for a penny (plus $3.99 shipping) on Amazon. That's my kind of deal.

By the way the link provided was for the audio - books on tape version.

The (older version) hardcover version is here:

http://www.amazon.com/Making-The-Most-Your-Money/dp/0684811766/ref=tmm_hrd_title_0/189-0612732-4378555
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Old 11-20-2012, 02:25 PM   #9
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The book that turned me around and got me headed in the right direction, was Personal Finance for Dummies.

Like most of the "For Dummies" series, it is clear, concise, well written, and gets the point across. I also think it is written with an uncommon amount of good sense.
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Old 11-20-2012, 03:15 PM   #10
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+1 for Dave Ramsey's Total Money Makeover. I have several friends who credit it with helping them talk about money as a couple for the first time.

For a magazine, I strongly prefer Kiplinger to Money.
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Old 11-20-2012, 06:20 PM   #11
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I inherited a bunch of investment real estate when my dad died. Unfortunately, I also inherited a family in each of them that had never been on time with a payment in their lives.

I've bought many of them the Dave Ramsey Total Money Makeover Book. One of them actually read it, and took it to heart, and now pays on time, in cash. All the rest of them are still chewing on the covers.

It's a great, practical advice, common sense book. Common sense seems to be sorely lacking in the majority of Americans these days, at least the ones I inherited.


P.S. If you love your children, you won't leave them real estate.
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Old 11-20-2012, 06:55 PM   #12
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It appears that I am lacking in this department. I even read one or two of the recommended books but my focus was on retirement and investment. So after reading 50 or so investment books, I don't know what to recommend to a young person for overall sound money advice, in general.
More reading:
Personal Finance for Dummies (again, or was it Investment/Retirement for...)
Total Money Makeover (I wouldn't have thunk it from listening to the radio show but...)
More Wealth Without Risk
Making the Most of Your Money
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Old 11-20-2012, 07:15 PM   #13
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"Rich Dad, Poor Dad"
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Old 11-20-2012, 09:42 PM   #14
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I really enjoyed the Jane Bryant Quinn and "... For Dummies" finances books too, but today's young whippersnappers might regard those as books that their parents read.

You could try Liz Weston's "10 Commandments of Money". She's one of the best speakers I've ever heard on the subject.

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"Rich Dad, Poor Dad"
Sure, it's an entertaining read, as long as you ignore everything about the personal life of the author.
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Old 11-20-2012, 09:43 PM   #15
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My vote is for Random walk down wall street.
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Old 11-26-2012, 02:15 PM   #16
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Thanks guys!
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Old 11-26-2012, 04:16 PM   #17
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This is as simple as it comes and a wealth of practical information...and it's a short read.

The Elements of Investing by Burton G. Malkiel and Charles D. Ellis
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Old 11-26-2012, 08:31 PM   #18
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Why Smart people make dumb money mistakes, Gary Belski.
Anything (3 books I know of) by William Bernstein
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Old 11-27-2012, 06:54 AM   #19
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Ric Edelman's "The Truth About Money" and "The New Rules Of Money"
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