Finance Basics & Recommended Reading

I’ve done some serious thinking as to where FrugalBeautiful is headed.  Originally, I started FruBu with the intention of showing women how to maximize their purchases, find good deals and live the beautiful life for a fraction of the price…

…but I began to realize- if you want to save money, there are plenty of websites out there.  Google “coupons” and you find thousands of other women bloggers out there who spend their whole day typing up coupon codes- good for them!
The problem is-  saving 50 cents on your next ketchup purchase or getting a great deal on a designer handbag (which I can so help you do!) is fabulous, but it’s not a long term strategy.  Saving money will help you make money.  If you’re not really focusing on making money, you’re going to end up short every month, regardless of frugality.

In my personal life, I am woefully ignorant about money, investing, wealth building and lifestyle design. I know that it is important to invest money into our future through savings and the funding of retirement plans, but other than that? I know and do very little about how to really maximize my personal wealth potential.

The fact of the matter is, I know I’m not the only one. I think as a human being and a blogger it will do both me and my readers a world of good if we can continue the conversation about money. If you are a woman reading this, know we typically make less, incur more care expenses on behalf of our loved ones and we live longer.  We are brilliant at saving money in the short term, but in order to stay afloat we will need to learn to make money in the long term.

Clipping coupons is not enough. Being frugal or finding clearance items is not enough.  Getting out of debt is not enough.  These are all great tactics I personally employ- but it’s not a real strategy.

This summer, I’m on vacation from graduate school- but I’m not taking a vacation from learning. I have a ton of books lined up to read and I hope to share what I learn with you.   Here’s what I have planned, a list of books that I’ve seen mentioned on other blogs and have started reading or will read myself:
The Books on Finance:

(See all Personal Transformation Books)The Pledge: Your Master Plan for an Abundant Life: I came across this book on a blog somewhere and so far it’s offered me some great insights on how to incorporate my longterm goals in to smaller, every day steps and how to prioritize what matters. If you’re wanting to craft a better life but aren’t sure where to start, check this one out- I’ve really enjoyed reading it.

The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime. I heard MJ Demarco speak on Pat Flynn’s Smart Passive Income Podcast and really was so enthused by what he had to say that I got the book on Amazon immediately. DeMarco isn’t a “get rich quick” guy, nor does he suggest you try and “get rich slowly,” in fact- he’s anti-frugal if you want to get wealthy as he suggests it’s a foolish and impossible long term strategy. Frugality, he says, is awesome, but it can’t be the only trick up your sleeve.

Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money–That the Poor and Middle Class Do Not! (Paperback) This is one of the most notable finance books out there. It’s a bit much for those of us who don’t know where to start, but the concepts are truly foundational and will change how you think about money. Do you *really* know the difference between an asset and a liability? Like, really? Is a car an asset? Nope. A house. Also not. Either can be sold in a pinch, but will get MAKE you money? Hmm- this book is worth a re-read now that I’m looking for ideas and direction.

All Your Worth: The Ultimate Lifetime Money Plan Elizabeth Warren is one of my favorite people. She is working as an assistant to the President of the United States and has done a lot to raise awareness about foreclosures and unfair lending and credit practices in the U.S. I will be interested to see if her book has anything to offer!

Cash Flow Quadrant This is another book by the author of Rich Dad, Poor Dad. It was recommended me from Matt at TheDoOverGuy.com on his latest podcast (he read my question on air!), and I’m going to give it a good read.

The Millionaire Next Door: Surprising Secrets of America’s Wealthy My goal is to look at money in different ways, and be able to craft forms of passive income through investing and other ventures. I know it’s not enough to hope that your money earning 2% (if that) in a bank somewhere will make you rich, or even keep your dollars up with the rising costs of gasoline, but what else is out there? I heard this is a good starter book for newbies like myself.

Find Your Strongest Life: What the Happiest and Most Successful Women Do Differently So what’s the deal with women and finances? Do we need a different approach to money? Surely we have different problems that men don’t have (Oh yes ladies, we have the babies and we take care of the sick folk in the family) but will a different approach be useful? Let’s find out.

Books on Career and Business:

The Thank You EconomyVaynerchuck is a famous wine connoisseur who has made an impact (and quite a business) by blogging and marketing what he loves (drinking good wine!) In this book he details how marketing and entrepreneurship has changed and utilizing these changes to their utmost potential.

Enchantment: The Art of Changing Hearts, Minds, and Actions I’ve heard Guy Kawasaki on several podcasts- he’s a great speaker and has some fabulous ideas on how to better serve your customers and readers through the various internet modalities out there. Whether you sell candles or sell insurance, I hear this is a great book to read!

So there you have it- these are just the books I’m starting with, and all but one I am getting FREE from the library (see, I just can’t stop being frugal, my lovelies!)  and you can too.  Expensive bookstores and unnecessary clutter just don’t do it for me anymore! 😉

Do you know of any good books I should have on this list?  I need more suggestions!