Y’all I am really trying to get my finances sorted cause i have a new baby. I spend money impulsively and I have no other stream of income other than my job. I was talking to someone at my gym and he told me about the book “multiple streams of income” but I saw that it is pretty outdated. Can y’all recommend me a book similar to that which helped get your finances sorted and get other forms of income?
by Nice-Tonight-2073
4 Comments
The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
by Dave Ramsey
Is the best book by far on getting your finances sorted. He has a lot of haters , especially on Reddit, so take them with a grain of salt and make up your own mind.
For what it’s worth, no book is going to do you any good unless you put it into practise. Are you actually going to read the book, or is it going to be just another impulsive purchase?
Before you start venturing too far into money making, I HIGHLY recommend reading the Psychology of Money by Morgan Hansel. No get rich quick schemes, but fundamentally sets the right mindset when it comes to money, both earning, saving, investing, spending etc.
Psychology of Money is probably a much better book. Along with The Simple Path to Wealth.
fuck all this multiple income stream bullshit, those people aren’t showing you anything, they’re just trying to sell a book, that’s their multiple income stream. Beware the BS.
Psychology of Money will teach you about your relationship to money. Simple Path to Wealth shows you the simple path to financial freedom (it’s really not that hard, so long as you make sufficient money that you can save every month, that’s the real rub anymore).
Both are reasonably well respected. Ramsey can get bent. MLM type books like those you talked about as “multiple income streams” can get bent. Avoid those types of things.
Ramsey is extreme and not realistic imo. The big points from him are:
* Don’t carry debt, pay it off before anything else (he has several strategies, snow ball, or avalanche, just google them)
* Budget