Updated: Jan 30
With the COVID-19 situation causing job loss and stress, it may feel like you've lost control in your own life. The good news is that you CAN take back some of that control by committing to read books on topics important or interesting to you. And at a time when the job market is greatly in flux, learning more about improving your own personal finance situation would be a great place to start! Commit to spending some time EACH DAY reading personal finance resources (blog articles, books, ebooks, etc). If you recently faced getting laid off or a reduction in work hours then making and saving money is an even bigger priority for you right now! This blog article highlights 5 great books with literally thousands of combined tips for saving and making money. I have read all the books recommended in this article and I personally own a copy. These books have helped me over the years and I know they can help you as well.
Disclaimer: This post contains affiliate links. This means if you make a purchase via my affiliate links, I will be paid a small commission at no extra charge to you.
My primary goal is to provide advice through That Purple Book for free as much as possible. In that spirit, I recommend you check out these books from your local public library or borrow from a friend if possible. First, make sure to check the latest COVID-19-related closings or restrictions for your area to see whether you can still access resources from the the library. I actually read each of these books for the first time by checking them out for free from my local public library. Later, I decided that they were so helpful that I wanted to have my own copy to re-read and write notes in the margins as needed. If you can't access these books from the library, they are available online through sites such as Amazon. Also check with your friends to see if they have a copy of these books that you can borrow before you decide to purchase.
1. "10,0001 Ways to Live Large on a Small Budget" - by the writers of Wise Bread
My favorite thing about this book is that because it is FULL of so many options, I feel like no matter if I have 2 minutes or 2 hours to read the book, I can always gain at least a few tips during that time. I've referred back to this book often depending on what types of money saving tips I'm looking for - saving on groceries versus saving on gift giving, etc. Just some of the money saving areas covered in this book include: Health & beauty, travel, green living, credit cards & debt, financial planning & budgeting and even money MAKING ideas!
Over the years since I purchased this book, I have gone through and checked off the tips as I've used them. That small action confirms with myself the progress that I've made over time. Because let's face it, sometimes it feels like we will never make progress and that feeling can be overwhelming. The good news is that even by taking small steps, we CAN make progress to move forward.
When you're ready to buy, you can use this link to purchase*: https://amzn.to/3fauU4C
Also make sure to check out the Money-related blog articles on my website!
2. "All Your Worth-The Ultimate Lifetime Money Plan" - by Elizabeth Warren & Amelia Warren Tyagi
What I appreciate about this book is that it covers many topics that do span your lifetime. I ended up buying this book because I wanted to refer back to different sections as they became important to me. I had purchased my first home as a single woman when I was just 24 years old, and while that is a great accomplishment, I still didn't have my FINANCIAL house in order. I had over $30,000 in student loan debt and a $12,000 car loan. I had a small amount of credit card debt as well and needed a better way to manage my finances so I wasn't stressed and stretched each month. The steps laid out in this book are easy to comprehend and easy to take steps to then put into practice. I saw improvement over time with my own financial situation and am happy to report that I paid off my car loan and student loans in just under 2 years after creating my new money saving plan!
This book will help you get your financial life into balance in three areas: Your must-haves, your wants, and your savings. The toughest part is reviewing your current situation and determining your plan forward. The BEST part about a plan though is that you then just have to follow it!
When you're ready to buy, you can use this link to purchase*: https://amzn.to/3aVaOYL
3. "Living Green-The Missing Manual" by Nancy Conner
What I appreciate about this book is that it goes beyond the typical 'reduce, reuse, recycle' (which is still REALLY important) and also provides ways to not only GO green but to SAVE some green. From tips about greening up your home, your shopping, your diet and more, this book offers a lot of great information. This book also provides details and metrics about how your green changes have an impact overall. How much waste can you save each year if you try composting? How much energy (and savings on your monthly bills) can you save if you switch to Energy Star-rated appliances?
No matter your current situation, there are tips included that will be helpful to you. For example, you don't need to live in a single family house to take advantage of gardening tips. And from water to electricity usage, to transportation costs (gas, etc) and home remodeling ideas, there are numerous ways you can make a difference in your own environment (at home) as well as make a difference for your finances.
When you're ready to buy, you can use this link to purchase*.
4. "Shop Smart, Save More" by Teri Gault with Sheryl Berk
Okay, I LOVE this book which is why I purchased my own copy years ago. That said, it would be most helpful if you're prepared to keep lists and track things and do some math. I would say it takes some preparation to put some of these tips into practice BUT they are worth it when you do use them. I personally saved hundreds of dollars in the span of a couple years based on the couponing (yes, couponing) and sales strategies listed in this book. The good news is that you don't have to coupon to save money at the grocery store.
Coupons can save you a lot of money but if that's not your thing or you're concerned you don't have the time or mental space to care about tracking coupons, it's OKAY. There are still many other ways to save on your grocery bill. As an example, the book includes information about the seasonality of various foods and sales patterns throughout the year. Since June is National Diary month, you are likely to see more sales for dairy-based foods at that time. No couponing required! Just becoming more aware of sales patterns throughout the year can help you identify the best times to buy ahead on certain products so that you can get the best price. Once you learn these general patterns, it can become a positive habit that you incorporate into your regular shopping throughout the year.
When you're ready to buy, you can use this link to purchase*: https://amzn.to/2zQe22V
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5. "Your Money or Your Life-Transforming Your Relationship with Money & Achieving Financial Independence" by Joe Dominguez and Vicki Robin
I like this book because it focuses on a nine-step process to live a more meaningful life, which includes getting out of debt and saving money for your dreams. This book goes beyond just the financial numbers and can help you identify that which matters to you most. Like the title states, the book is about transforming your RELATIONSHIP with money, not just the dollars and cents. What are your priorities in life? In your career? With your family? The best part is there are no wrong answers! Once you have your priorities identified, it's easier to focus on how to use your money to support those priorities.
When you're ready to buy, you can use this link to purchase*: https://amzn.to/2SpMg3u
In summary, commit to spending some time each day reading about personal finance and ways to save or make money. No matter your current financial situation, the tips in these 5 books can help you make a big impact! If you've read one or more of these books already, drop a comment below and let me know what you thought? Also, if you have other money-related help books that you would recommend, list those in the comments below as well!
* Check the status of your local public library to see if it is open where you can check out these books right now.
* If you can't access these books for free, consider purchasing one now and spend time each day reviewing the tips and then make a list of the tips you plan to implement in your own life.
* Share this article with others who may need some additional support to take some control over their personal finances.
* Check out the Money-related blog articles on my website!
* Become a Community Member (it's FREE!) to access more career resources.
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Connect with me at Sarah@ThatPurpleBook.com with questions.
*Disclaimer: This post contains affiliate links. This means if you make a purchase via my affiliate links, I will be paid a small commission at no extra charge to you.