Financial advice books can further assist you in your financial dreams, whether you feel like you make enough money or not. The advantages of a book are that you can bookmark, jump ahead, or back, take your time and soak up all the knowledge that you need. Additionally, there are so many authors out there with all different philosophies you are sure to find a method to meet your own goals.
Everyone, from the highest paid attorney to the busting your tail waiter to the cashier at the grocery store all have goals in life. Maybe you just want to see your kids grow up healthy and strong. Maybe you want to have plenty of time and money to pursue your hobbies, or maybe begin your newlywed financial plans. Maybe you just want a big, fancy house and a big fancy car. Those take money, and sometimes planning. Money is good because it is simply an exchange of your work for things you want and need in life.
Now, financial advice books can help you reach your financial goals no matter how big or small they seem to you. They range in advice from traditional "save up your money" to just "doing what works". While it is good to learn the rules of anything prior to breaking the rules, when is it time to stay the traditional course? When is it time to veer from the course? It is important to know what you want from your money first and foremost, and then break the rules to meet your dreams.
The financial advice books are plentiful on the shelves, whether it is an electronic reader or the good old paper variety. To learn the basics, learn from traditionalists first. Learn how to divvy up your monthly income to pay all your bills. This is basically a budget. And, that is a fantastic starting point.
But, it is also important to learn where you are actually spending your money. Keep a journal for one month, and record every last purchase, and income. It is important to compare your budget against your actual spending habits.
This can help you cut excessive spending that is undermining your financial goals. It is important to not go overboard. There are instances of people sleeping on their (former) friends' couches for months to save up enough to get a down payment on a house. Put people first, as some financial advice books recommend. Relationships are priceless, money can always be earned again.
Keep your financial goals in mind when moving your money around at all. The traditionalists will always recommend spreading out your money, so you lessen your risks. They will recommend that you save 20 percent down when buying a home, save the maximum in your 401k and Roth IRA -- every year! One near drawback to the financial advice books is that the advice can be doled out as one-size fits all. Authors' advice in financial advice books are not quite as fine-tuned as an investment advisor.
Well, if you are living paycheck to paycheck you may feel overlooked by the financial advice books. But, do remember that there are people who have lived on very low to modest incomes who have surpassed their high income friends. They have finished ahead, reaping the rewards of careful planning and frugal living.
It is how you treat your money and a little luck that can help you out along your way. Financial advice books address every avenue of life, including affording parenthood, your college education and retirement planning. You may find that debt is your biggest demon.
If debt is in the way, there are ways to pay it off, and keep it away. Some recommend building a savings nest egg while you pay off your debts, so that you may avoid using credit and avoid rebuilding your debt. Others say to just pay the highest interest first, and forgo the savings while paying credit cards.
There are two kinds of debt, they will tell you: good debt and bad debt. Good debt is an investment that will increase your income over time, such as the university or technical school debt. The car that gets you to your job, when walking and public transportation are not an option, that is a semi-good debt.
Financial advice books are a great starting off point. They offer the basics of money advice via an easy vehicle: books. Consider the advice but remember what works for everyone else may not pertain to you. Books are wonderful because they allow you so many options, so many money philosophies. And, if the advice of some books does not suit you, there are always more money books to read. Books can be kept as a reference as you make progress.
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