In the early days of being straddled with debt, I made a commitment to learning as much as I could about money and my relationship with it. I read as many of the best financial books I could get my hands on.
What I quickly realized was my problems were rooted in my beliefs about money. What I learned as a child had carried over into my adulthood and most of it no longer served me well. You can read more about my personal story here.
What I also learned was how I used money in so many unhealthy ways as a substitute to fill my unmet needs. If you’re not sure what I mean, I encourage you to join the 28 Days of Spending Zero -The No Spend Challenge. The entire purpose of the challenge is to help other’s struggling with overspending and debt realize why they spend they way they do!
Over the years I’ve talked with hundreds if not thousands of women and men who thought paying off their debt was enough. They didn’t see the value in cultivating a relationship with money and learning the motivation behind their spending, savings and investment habits.
One the best ways to develop a better understanding of money is to read as many books as you can on the subject.
1. The Money Mirror by Annette Lieberman & Vicki Lindner
Not for the faint of heart, this financial guide will change the way you understand why you both desire and fear money. It offers the tools needed to understand and alter the ways in which you think about money.
Other Resources Worth Reading: Why You Should Learn To Love Your Money
2. Over Coming Under Earning by Barbara Stanny
This book is an excellent resource for those of you who are living paycheck to paycheck. Underearners struggle with their self-worth which is translated into how much they earn. Good exercises and tools to break the cycle and start making more money and break the cycle of living from pay check to pay check.
Other Resources Worth Reading: How To Budget When You’re Living Paycheck to Paycheck
3. The Energy of Money by Maria Nemeth,P h.D.
By far one of the best books ever written on the subject. The book will help you uncover all those nasty hidden beliefs we carry around like bricks and then give you the tools and techniques to break free from them once and for all. This is a must read!
Other Resources Worth Reading: The 30 Day Money Mindset Challenge
4. Financial Recovery by Karen McCall
This is like therapy wrapped up between two covers. Jammed packed with useful information to help you overcome underearning, low or no savings, yo-yo debting, overspending and chronic debt. Filled with lots of tools and strategies to help you change your financial circumstances and regain peace of mind.
Other Resources Worth Reading: How To Reach Your New Year Financial Resolutions
5. You’re Broke Because You Want To Be by Larry Winget
I read this book after several years after my financial recovery, and so it didn’t impact me in the same way as some of the other books. But one of the reasons why I include it here is because of the straight, no bullshit approach Larry takes. It’s like a slap in the face, in a nice way and some people may better respond with that approach. One particular area I continued to struggle with was pretty much cured after reading this book despite how far I had come in my journey. Either way, I think you’ll enjoy reading it.
Other Resources Worth Reading: My Debt Free Journey
6. The Total Money Makeover by Dave Ramsey
The bible of all financial debt management books out there. This is a much read for anyone suffering with debt. Although I don’t always agree 100% with Dave, I personally learned a lot about becoming a better steward of my money by reading his book.
Other Resources Worth Reading: The Joy of Saving
What are some of your best financial book recommendations? I’m always interested in reading new material on the subject or old favorites, so if you have a great recommendation leave it in the comments section.
MY FAVORITE MONEY-SAVING TOOLS
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DIGIT: Like the idea of saving but need something automatic? Digit is the perfect solution if trying to automate your savings strategy. In essence, what Digit does is use an algorithm to detect spare money and then transfers it to a secure savings account – so you’ll always have something to fall back on. Sign up for free!
GROCERY BUDGET MAKEOVER: Is your grocery budget giving you a serious kick in your families spending plan? Grocery Budget Makeover helped my family slash $6,000 a year from our food bill! Learn more about how Grocery Budget Makeover can help you save money too!