Author Topic: Book recommendation, please!  (Read 5725 times)

cpostache

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Book recommendation, please!
« on: January 05, 2016, 01:55:16 AM »
So my wife and I have made great progress since deciding to live a much more frugal life.  I'm in the Navy, retire in four years, maxed out TSP for the first time in 2015 (will continue until I retire), and plan to save as much as possible before I retire.

She's on board with the MM lifestyle and FIRE idea.  But here's my problem.  She's a SAHM, has never worked, and was never taught the importance of financial management and FI.  Her parents pretty much taught her things find a way of paying for themselves.  After eight years of marriage, she sees things differently now.  She doesn't spend ridiculous sums of money, but does spend without realizing it ($500 unexplained spending per month is not uncommon).  Her goal this year, her idea not mine, was to start using cash only and envelopes to help her avoid unnecessary spending.

I've mentioned MMM before and she's checked it out a time or two.  But I don't think this blog appeals to her.  All that to say, do you guys have any recommendations for blogs/books that may appeal more to a SAHM with Christian values?  I don't think she'd enjoy anything that is too specific in terms of explaining financial tools, etc. 

Thank you!

kpd905

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Re: Book recommendation, please!
« Reply #1 on: January 05, 2016, 06:07:13 AM »
The Total Money Makeover by Dave Ramsey is a good one that does talk about applying the aspects to the Christian Faith.

Otherwise, Your Money or Your Life is a great one that really drives the point home well.

Kitsune

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Re: Book recommendation, please!
« Reply #2 on: January 05, 2016, 09:54:31 AM »
Otherwise, Your Money or Your Life is a great one that really drives the point home well.

Seconded.

chweezzy

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Re: Book recommendation, please!
« Reply #3 on: January 05, 2016, 10:39:57 AM »
Essentialism: the disciplend pursuit of less
http://www.amazon.ca/Essentialism-The-Disciplined-Pursuit-Less/dp/0804137382

Best book I have ever read.


cpostache

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Re: Book recommendation, please!
« Reply #4 on: January 05, 2016, 10:41:45 AM »
Thanks, guys!

maco

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Re: Book recommendation, please!
« Reply #5 on: January 06, 2016, 02:56:39 PM »
A financial class series based on Your Money Or Your Life was given at my old congregation. We're one of them "simple living" denominations, so that kind of makes sense.

FLA

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Re: Book recommendation, please!
« Reply #6 on: January 07, 2016, 04:09:05 AM »
Affluenza: How Overconsumption Is Killing Us and How to Fight Back, 3rd edition

NestEggChick (formerly PFgal)

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Re: Book recommendation, please!
« Reply #7 on: January 25, 2016, 11:10:05 AM »
Of course Your Money or Your Life was the first that came to mind, but I remember my first read: Smart Women Finish Rich by David Bach. That was a real game-changer for me. I'd recommend that one, too. It might appeal to her more as an opener, and then YMOYL can come next.

Lizzy B.

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Re: Book recommendation, please!
« Reply #8 on: January 27, 2016, 01:38:25 PM »
Dave Ramsey, mentioned previously, is helpful, but is not into the early retirement. He's more about avoiding debt and living within your means, but he's been a first step for many here. Also, Millionare Nextdoor is good. There's a fair amount of data in that, but you can skip the tables and still get the main points.

JimLahey

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Re: Book recommendation, please!
« Reply #9 on: January 28, 2016, 08:35:57 AM »
Essentialism: the disciplend pursuit of less
http://www.amazon.ca/Essentialism-The-Disciplined-Pursuit-Less/dp/0804137382

Best book I have ever read.

Currently reading this. Checked it out from the library of course. Love the Overdrive app.

solon

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Re: Book recommendation, please!
« Reply #10 on: February 14, 2016, 04:20:17 PM »
I really liked the Money Map, by Howard Dayton.

http://amzn.com/0802468683

It's simple to read and understand. And it's a great alternative to Dave Ramsey, if you don't like him.

Bracken_Joy

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Re: Book recommendation, please!
« Reply #11 on: February 14, 2016, 07:24:04 PM »
Not a book, and not financial per se. But I have found there are a lot of simple living blogs that really cater to christian values and really resonate with the SAHM mom crowd in particular. So I personally would recommend perusing the blog-o-sphere.

I love Slow Your Home, and there is a podcast as well.

Oh! I did think of a book, although it hadn't aged well. The Simple Living Guide by Janet Luehr (sp?) has always really inspired me.

Parizade

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Re: Book recommendation, please!
« Reply #12 on: February 15, 2016, 06:13:44 AM »
How to turn you money life around, by Ruth Hayden.
http://www.amazon.com/Turn-Your-Money-Life-Around/dp/1558742255

This is an older book, but it is written specifically for women who never really got financial training or advice. And for the record, it actually did turn my money life around.

pbkmaine

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Re: Book recommendation, please!
« Reply #13 on: February 15, 2016, 07:13:25 AM »

MDM

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Re: Book recommendation, please!
« Reply #14 on: February 15, 2016, 07:31:04 AM »
She doesn't spend ridiculous sums of money, but does spend without realizing it ($500 unexplained spending per month is not uncommon).  Her goal this year, her idea not mine, was to start using cash only and envelopes to help her avoid unnecessary spending.
Some things to consider about cash vs. credit:

Cash
 - Once you spend it, it's gone and you can't spend any more - at least, not until you go to the ATM and withdraw more.
 - Unless you make a note of it, there is no way to tell what it was spent on.

Credit
 - You can spend up to your credit limit at any time.
 - You can download your monthly bills into Quicken/Mint/etc. and know exactly what it was spent on.

Going either to "all cash" or "all credit" might be the right answer, depending on the question.

Kitsune

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Re: Book recommendation, please!
« Reply #15 on: February 15, 2016, 09:30:33 AM »
She doesn't spend ridiculous sums of money, but does spend without realizing it ($500 unexplained spending per month is not uncommon).  Her goal this year, her idea not mine, was to start using cash only and envelopes to help her avoid unnecessary spending.
Some things to consider about cash vs. credit:

Cash
 - Once you spend it, it's gone and you can't spend any more - at least, not until you go to the ATM and withdraw more.
 - Unless you make a note of it, there is no way to tell what it was spent on.

Credit
 - You can spend up to your credit limit at any time.
 - You can download your monthly bills into Quicken/Mint/etc. and know exactly what it was spent on.

Going either to "all cash" or "all credit" might be the right answer, depending on the question.

This. The 'all cash envelopes' advice has always mystified me, because it's the GUARANTEED way for my husband an I to lose track of where our money went (you took out 100$ last week, what did it go on? Oh, 60$ went to that thing, and then... huh... I dunno... stuff...). Credit card statements, on the other hand, are clear and trackable (I use YNAB4, but whatever works), we know exactly how much we've spent on groceries so far this month, and there's no '40$ went missing' situations, there's just '40$ on this thing, can we discuss'.


maco

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Re: Book recommendation, please!
« Reply #16 on: February 15, 2016, 01:58:32 PM »
She doesn't spend ridiculous sums of money, but does spend without realizing it ($500 unexplained spending per month is not uncommon).  Her goal this year, her idea not mine, was to start using cash only and envelopes to help her avoid unnecessary spending.
Some things to consider about cash vs. credit:

Cash
 - Once you spend it, it's gone and you can't spend any more - at least, not until you go to the ATM and withdraw more.
 - Unless you make a note of it, there is no way to tell what it was spent on.

Credit
 - You can spend up to your credit limit at any time.
 - You can download your monthly bills into Quicken/Mint/etc. and know exactly what it was spent on.

Going either to "all cash" or "all credit" might be the right answer, depending on the question.

This. The 'all cash envelopes' advice has always mystified me, because it's the GUARANTEED way for my husband an I to lose track of where our money went (you took out 100$ last week, what did it go on? Oh, 60$ went to that thing, and then... huh... I dunno... stuff...). Credit card statements, on the other hand, are clear and trackable (I use YNAB4, but whatever works), we know exactly how much we've spent on groceries so far this month, and there's no '40$ went missing' situations, there's just '40$ on this thing, can we discuss'.
The idea would be you have like 20 envelopes, and each one is for a particular thing. So groceries only come out of the grocery envelope. Restaurants only come from the restaurant envelope. Gas only comes from the gas envelope.

Kitsune

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Re: Book recommendation, please!
« Reply #17 on: February 15, 2016, 06:39:06 PM »
She doesn't spend ridiculous sums of money, but does spend without realizing it ($500 unexplained spending per month is not uncommon).  Her goal this year, her idea not mine, was to start using cash only and envelopes to help her avoid unnecessary spending.
Some things to consider about cash vs. credit:

Cash
 - Once you spend it, it's gone and you can't spend any more - at least, not until you go to the ATM and withdraw more.
 - Unless you make a note of it, there is no way to tell what it was spent on.

Credit
 - You can spend up to your credit limit at any time.
 - You can download your monthly bills into Quicken/Mint/etc. and know exactly what it was spent on.

Going either to "all cash" or "all credit" might be the right answer, depending on the question.

This. The 'all cash envelopes' advice has always mystified me, because it's the GUARANTEED way for my husband an I to lose track of where our money went (you took out 100$ last week, what did it go on? Oh, 60$ went to that thing, and then... huh... I dunno... stuff...). Credit card statements, on the other hand, are clear and trackable (I use YNAB4, but whatever works), we know exactly how much we've spent on groceries so far this month, and there's no '40$ went missing' situations, there's just '40$ on this thing, can we discuss'.
The idea would be you have like 20 envelopes, and each one is for a particular thing. So groceries only come out of the grocery envelope. Restaurants only come from the restaurant envelope. Gas only comes from the gas envelope.

I guess... But since our credit use is responsible, we carry no interest payments, and we made 568$ on our credit cards last year, I really can't see us shifting to that method. If it works for others, great, but it's a bit too hands-on-management for us, considering the lack of benefit.

jfisher3

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Re: Book recommendation, please!
« Reply #18 on: February 18, 2016, 07:18:49 AM »
frugalwoods.com has been a big help to my wife. She found MMM to be too "mean", but the FWs have a much more relaxed (not to mean ineffective) approach to FI... Not to mention, new baby, shopping for homestead.... and we're having a new baby and closing on our homestead tomorrow... she associates with them a lot more.

That's the other main one I follow that's specifically about FIRE.