Find your ‘money mojo’: Summer reads
Like to start the year with a fresh slate? With the right books on all-things financial, you can.
Ah, summer – the season we can finally flock to the beach and press pause on our everyday lives. And between a swim and another, you may even find some time to boost your financial knowledge. Here are great books to take with you on holiday (even if it’s a staycation).
I will teach you to be rich, by Ramit Sethi
What if there were steps you could take to live out your ‘rich life’? I will teach you to be rich is a fun, down-to-earth and most importantly practical handbook full of sound advice – especially for young people approaching their financial life for the first time. The book is set up for a six-week programme, but you can also just focus on the key tips, like automating your finances and spending consciously.
Rich enough? A laid-back guide for every Kiwi, by Mary Holm
‘How much money is enough?’ Well, that depends on what you’d like to achieve with it. Personal finance writer Mary Holm tackled this question with a New Zealand-centric, laid-back approach – from how to reduce your debt through to ways to curb your spending and save more. The result is a book that’s comprehensive yet broad enough to appeal to readers of any age.
So, how much do you need to save for retirement? We can’t tell you right off the bat, but we’ve put together a handy guide to help you calculate it.
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence, by Vicki Robin
Your money or your life? If you have a plan for financial independence, you don’t have to choose one or the other. The overarching message of this book is that having the right mindset – one of financial awareness – can make all the difference and pave the way for long-term investment moves. It’s the good ol’ big-picture thinking that matters.
Tales from a financial hot mess, by Frances Cook
Sometimes, it takes a few mistakes to end up in the right place. In this book, personal finance author Frances Cook shares her journey from cash-strapped financial anxiety to money expert. Any Kiwi can find some good lessons here, from a normal person to other normal people who want to get started on managing their money better.
Like some more personal finance tips? Check out our article on How to avoid the 10 biggest financial mistakes.
How I Invest My Money, by Joshua Brown and Brian Portnoy
Have you ever wondered how financial advisers and other money experts invest their money? Brian Portnoy and Joshua Brown interviewed 25 of them, providing a kaleidoscope of views that sets this book apart from others on the same topic. Approaches vary widely, but there are some common themes, and this book gives you permission to choose your own adventure.
Have you ever considered getting financial advice? Here are the benefits of seeking professional help.
The Barefoot Investor, by Scott Pape
Save, don’t live beyond your means, have manageable levels of debt. It may sound easier said than done, but these are the key principles outlined in The Barefoot Investor. No complex formulas or how-tos – just great core principles that many readers will find inspiring.
And speaking of core principles… Don’t forget about the importance of diversifying your portfolio, especially in times of market turmoil: here’s why.
The Psychology of Money, by Morgan Housel
There are so many quotes to choose from this book, but if we had to pick one, that would be: “Building wealth has little to do with your income or investment returns, and lots to do with your savings rate.” Using real-life examples, Morgan delves into the psychology of finance to show just how different people’s approach to money can be. A must-read if financial independence is your goal.
For more on emotional investing (and how to avoid it), have a read of our guide on Breaking the cycle of emotional investing.