Budgeting

5 Things to Stop Buying to Save Money

December 7, 2018 By Christina Majaski Leave a Comment

Are you looking for new ways to cut expenses? Here are some things to stop buying to save money, and how it can really add up.

5 Things to Stop Buying to Save Money

Sure, we all know we spend a little too much on lattes and buying lunch instead of making it and bringing it from home. However, there are probably lots of other things we spend money on that we don’t even realize is a waste.

Branded Grocery Items That Are the Same As Generic

Generic grocery items once had a bad reputation of being poor quality groceries. In the past, you only bought store brand or generic groceries if you absolutely had to and if you were willing to feed your family subpar food. However, over the years, shoppers have learned that many generic/store brands are just as good as branded items, and for the most part, are usually significantly cheaper. For example, if you check our Costco price list for Kirkland diapers, cost about $0.15 per diaper versus Huggies, which cost about $0.20 per diaper. Plus, remember this comparison is at Costco, where prices are already lower than other grocery stores.

Savings >$100/month: This will depend on your grocery bill, but because the difference between store brand and name brand groceries is almost 50 percent, you could save $100 or more. That’s half of your grocery bill that can now go into your savings account.

Bathroom Cleaner, Kitchen Cleaner, Soap, and Other Cleaning Products

Very few of us like cleaning anyway, so why not just quit and put the money you’d spend on various scrubbing solutions and cleansers into your savings account?

Well, not really. We can’t just stop cleaning. However, you could save some money if you make your cleaning products instead of buying them. Plus, a lot of the cleaning products on the market consist of harmful chemicals you probably don’t want in your house anyway. We have a list of cleaning product recipes you can use instead.

Savings >$10/month: This might not seem like an enormous chunk of change but it could add up to a couple of hundred dollars per year. Just make sure you use products you already have at home to save even more.

Fast Fashion – More Jeans, Socks, Sweaters, and Other Clothing

Did you know that we buy and get rid of so much clothing that it’s becoming an environmental crisis? Sure, you probably donate and sell your old clothes when you’ve outgrown them or just gotten tired of them. However, a lot of that clothing is ending up in landfills because there just isn’t anything else to do with it.

Instead of buying new clothes, rework what you have. Before you buy another 6-pack of socks that are on sale, think about whether or not you actually need six more pairs of socks – even if they are super cheap.

Savings >$150/month: The average adult spends about $150 per month on clothing. This isn’t even counting what you might spend on your children as well. Put this money in your savings account and also help the environment a little in the meantime.

You Don’t Have to Buy Everything Organic

Many people buy organic food because of the peace of mind you get from eating something that is cleaner and healthier. However, some organic products aren’t cleaner or healthier, and just cost you nearly 50 percent more than the alternatives. Some of the foods you can buy non-organic include:

Onions
Pineapple
Avocado
Cabbage
Melons

You might notice many of the safer non-organic products have some kind of outer covering that protects it from harmful pesticides and chemicals. This is why you’re generally safe buying non-organic.

Savings >$50/month: The savings amount varies according to your grocery bill, but adding this with the change to generic products can add at least $150 per month to your savings account.

Personal Checks – Try Online Bill Payment and Banking Instead

Because of mobile payment options, online banking and payment processors like Venmo and Paypal, consumers have found themselves writing fewer and fewer paper checks. Even if you do still depend on checks to make your payments, consider making the change to save some extra money. There’s a chance that payment checks will be completely obsolete in the future anyway, with some speculating as early as 2021.

Savings >$10-$25: The cost of personal checks varies according to the bank or company where you buy them. They generally cost about $10 to $25 for a book of 100-200. If you make the transition to online bill payment and banking instead of buying checks twice per year, it can be an additional $20-$50 to your savings account.

Bottom Line

In order to save more money, you’ll need to take a serious look at your budget to figure out where exactly your money is going. Things like generic grocery items, personal paper checks, and cleaning products are extra expenses you might not have realized you don’t need to buy. Once you evaluate, you’ll likely find a lot of other things you can stop buying to save money.

What have you stopped buying to save money? Share with us in the comments below.

OnTrajectory: Small Changes, Big Effects

November 20, 2018 By Tyson Koska Leave a Comment

Relatively small “lifestyle” changes can have MASSIVE effects over the course of one’s life. Whether you have a weakness for eating-out, heating your house to 80 degrees, or everyone’s favorite punching bag, upscale coffee – understanding how small amounts build, and what they can “buy” you later in life – is critical to creating a secure financial future.

So, let’s pick on coffee one more time – say you’re a fresh college grad with a mild macchiato addiction. Of course, this could alternatively be replaced by a weakness for lattes, mochas, or any of a number of delicious coffee-based concoctions. We’ll assume the habit remains more-or-less consistent throughout your life.

Now, to the numbers…

Three macchiatos per week, that’s $15. Over the course of one’s life (3,536 weeks * $15), that’s $53,040. Assuming 3% inflation, you’re looking at $115,054. Ouch.

By brewing at home, however, and purchasing one macchiato per week – you could save about $500/yr. What if that $500 was invested in a moderate risk, tax-deferred account? Using OnTrajectory.com (software for building a “Personal Financial Model”) to see the full financial impact.

This software allows you to enter all of your Income streams, Expenses, Investments, etc. – and map all the data to show your financial future. To illustrate this scenario the following data was used:

Income: This college grad has a pretty decent job – maybe an entry-level computer programmer or something hot like that. This example assumes an average 5% raise per year until the age of 40. Thereafter, their salary is assumed to keep pace with inflation.

Expenses: This example was modeled with “grouped” recurring expenses in three age ranges:

Ages 22-29 includes rent,
Ages 30-67 includes the purchase of a home,
Ages 68-90 includes basic expenses dropping during retirement years.

In addition, we see this individual is planning to purchase a boat at 45, and also plans for an extravagant vacation later in life. Finally, we see their coffee expense broken out separately at $780/year.

Accounts & Taxes: This individual has just one investment account. They are planning for 5% growth before retirement and 3% after. Their effective tax-rates are based on their income level. They don’t have any tax-deferred/retirement accounts or any other types of investments defined.

Subsequently, their financial trajectory looks like this:

We can clearly see how funds accumulate at different rates during different periods in their life. The steep increase at 60 is a result of the mortgage being paid-off – but as you can see it’s not quite enough, and this individual runs out of cash at the age of 88 and is $139,713 in the hole by age 90.

Now, by making some relatively small changes in their life, and by taking advantage of a Retirement account – they can produce a completely different outcome. By reducing their coffee expense from $780 to $280 per year, and investing the savings into a tax-deferred retirement account with an average rate of return of 5% (which is the average for moderate-risk mutual funds) – here’s the final result:

Notice that not only do they stay financially afloat throughout life, there’s a tidy $320k surplus at the end.

This is the MATH of compound interest – and it’s powerful stuff. The truth is, small lifestyle changes CAN have half-million dollar impacts over the course of one’s life. Using a tool like OnTrajectory can help you identify and visualize those impacts.

DISCLAIMER: Please be aware that no information contained in this communication should be considered investing advice. All financial information is solely for educational purposes. Please see your own professional for personal investment advice.

How Effective Are The Dave Ramsey Baby Steps?

October 9, 2018 By Amanda Stewart 1 Comment

Dave Ramsey has been someone people looked to for financial advice for years. In fact, more than 4.5 million people have participated in his Financial Peace University. This program outlines steps to becoming financially free, but how effective are the Dave Ramsey baby steps?

What Are The Dave Ramsey Baby Steps?

Before jumping into how effective they are, you should know there are seven baby steps. Each requires you to take a good look at your finances and helps you map out your way to financial freedom. Here they are …

1. Create a $1,000 Emergency Fund

As with most financial programs, you need to establish an emergency fund before doing anything else. This will keep you from going into more debt when something unexpected happens. Because of this, it is Dave Ramsey’s first baby step.

2. Pay Off All Debt Using the Snowball Method

Depending on how much debt you have, this may seem daunting. Any extra cash you have left over at the end of the month should go towards paying off your debt. Ramsey even goes as far as to say you shouldn’t eat out, don’t do anything entertainment wise that isn’t free, until your debt is paid in full.

3. Get 3 to 6 Months of Expenses in Savings

After you’ve paid off all your debt, you’ll be surprised at how quickly you’re able to save even more cash. Then you can pad your emergency savings with a bit of extra cash. Ramsey generally recommends up to six months of expenses in a savings account. This will help in the event that you or someone in your household find themselves out of work for an extended period of time.

4. Invest 15% of Household Income Into Roth IRAs and Pre-Tax Retirement

Once your savings are up to par, it is time to invest in yourself and your retirement. As a general rule of thumb, Ramsey recommends putting 15% of your household income towards your retirement accounts.

5. Start a College Fund for Your Children

If you have kids, once you’ve started to invest in your retirement, you can begin saving for their future. There is no recommended monthly or annual amount you should put towards this. It is up to your own discretion. However, you do want to keep in mind, if you can prevent your children from holding a ton of student loan debt, you should.

6. Pay Your Home Off Early

Now that your child’s college fund has been padded, you can look to paying off your mortgage early. And, if you don’t have children, this would be the next thing to tackle. You could save yourself thousands of dollars by paying your home off early. Not to mention, it will get rid of the last bit of debt you owe.

7. Build Wealth and Give

So, now you’ve paid off all your debt, accrued savings, paid off your mortgage, and invested in yourself. What do you do now? Ramsey recommends continuing step number four and max out your contributions to retirement accounts each year. You can also look for new things to invest in and build wealth.

Lastly, Ramsey is a huge believer in donating money if you are well off. Find a good organization you’d like to donate to or give to your church. Not only are these donations tax-deductible but they will make you feel great. In fact, Ramsey says it is one of the most rewarding things about being debt free.

How Effective is the Program?

The program has proven to be extremely effective for many people. In fact, there are numerous testimonials on Dave Ramsey’s website about how many families this has helped. One family gave credit to Ramsey’s Baby Steps for helping them paying off $162,000 of debt in just seven years.

Those who have followed the program closely have seen great success, proving Dave Ramsey’s Baby Steps. So, how do you get access to the program and become financially successful like these folks?

Getting Access to the Baby Steps

As previously mentioned, these baby steps are part of Ramsey’s Financial Peace University course. The program is nine weeks long. It walks you through each baby step and how to put them to work in your own life. It generally costs about $129. Occasionally, you can find it on sale. So, if you are interested in starting the program, check Ramsey’s site regularly.

If you’re looking for a cheaper way to get access to Ramsey’s baby steps, you can also look into purchasing his best-selling book The Total Money Makeover. The book shares inspiring stories of others who have become financially free by following the Dave Ramsey Baby Steps.

Lastly, you can also sign up on Dave’s site for a seven-day email series that provides tips on how to work the Baby Steps faster. The email series is 100% free.

All in all, Dave Ramsey has been able to help millions of people climb out of debt and get back on top of their lives financially.

Have you taken the nine-week Financial Peace University course or otherwise followed Ramsey’s Baby Steps? Did you have success with the program?

Celebrate International Coffee Day With These Deals and Savings

September 28, 2018 By Tamila McDonald 2 Comments

In celebration of International Coffee Day, shoppers around the country have one more reason to enjoy an extra cup of joe. You can make that cup of coffee even better by scoring one at a discount. Whether you usually make coffee at home or head to a local café, make sure you check out these deals and savings.

Getting a Great Deal on Coffee

Finding a way to save on coffee can be incredibly helpful, especially if you’re trying to manage your budget. Many coffee drinkers enjoy at least one cup per day — either at home or in a café or restaurant. By finding a way to get the classic morning beverage at discount prices, the savings over the course of a year can be substantial.

International Coffee Day Deals

On International Coffee Day, some restaurants and gas stations run coffee specials. For example, you may be able to get a cup for free. Now to get coffee free, it may be with or without an additional purchase. You may also find other bargains, like buy-one-get-one deals.

In 2018, International Coffee Day is September 29. Dunkin Donuts has a BOGO deal — if you purchase a coffee, you’ll get a free coffee to give to a friend, coworker, or family member. Krispy Kreme will give you a free cup, no purchase necessary. PJ’s Coffee will give you a free 12-ounce cup of Ruby Roast on the 29^th and Cinnabon offers a free 12-ounce deal as well.

While such celebrations can make a single cup more affordable, they won’t do much to keep your regular coffee costs down. If you want to get great deals on coffee all year-round, here are some places worth exploring.

Amazon

If you want a wide selection, home delivery, and reasonable prices, it’s hard to beat Amazon. You can find coffee in nearly any form, including K-cups, ground, whole bean, instant, bottled, and even unroasted coffee beans.

Plus, you’ll find brands that aren’t usually available in stores. If you’re open to buying in bulk or sign up through auto-delivery through Amazon pantry, you can typically score a price reduction on each cup, making a daily coffee habit more affordable.

Walmart

In most cases, Walmart is considered a quintessential discount retailer. Their coffee product prices are usually pretty affordable in comparison to regular grocery stores, especially if you are open to trying the company’s Great Value brand.

If you use the Walmart Savings Catcher app, you are practically guaranteed to get the lowest price on coffee available in your area. If the coffee you chose is on sale at a nearby grocery store, you’ll receive the difference back as a Walmart e-gift card, ensuring you get the best possible price.

Office Supply Stores

When you need to hunt down affordable coffee, consider stopping in at your local office supply store. Shops like Staples and Office Depot actually sell coffee, and the prices can be very reasonable. Plus, many office stores give you the ability to subscribe and save, commonly throwing free shipping into the mix.

Typically, office supply stores focus on selling coffee in large quantities since business shoppers are their main market. However, anyone can buy coffee from these stores, so they are worth checking out if you like to shop in bulk.

Groupon

Many shoppers are surprised to learn that Groupon actually has coffee deals. While finding a discount for a café or restaurant is what you expect from the site, they also sell coffee packs for home use.

The value of the coffee deals vary, but you’ll find plenty of steals. Just make sure to ignore the percentage discount claims and focus on the actual price. In some cases, the discounts are somewhat inflated as they aren’t based on the actual retail price you can find in many stores.

Costco

Warehouse stores like Costco usually have coffee in one if their aisles and the prices are very competitive. If you like to buy coffee en masse or head to Costco regularly, then see what they have available at discount prices.

The only trick to buying coffee at Costco is you can’t always be sure what brands are available. If you are very brand loyal, you may not be able to find your preferred brew. However, Costco’s Kirkland coffee is generally well-received, and they have a wide variety of flavors and strengths available, including organic options. So, if you want to score a deal, consider trying the Kirkland coffee and see if it will meet your needs. (Also, make sure you check out the coffee coupons in October’s Costco Coupon book.)

Off-Price Department Stores

If you are flexible with your coffee brand and want to focus on discounts, consider heading to off-price department stores. Shops like Ross Dress for Less, TJ Maxx, Marshalls, and Big Lots all have coffee available, and the prices are fairly affordable. But, their inventory can be inconsistent, not unlike Costco, so you need to be open-minded about your coffee to get the best deals.

Get Coffee Deals with Coupons

Sometimes, the easiest way to get a deal on coffee is with a coupon. Many manufacturers like Folgers and Maxwell House regularly have coupons in local papers or online.

If you have a favorite brand, sign up for their e-newsletter. Usually, you’ll get coupons every so often, helping you save on your favorite coffee. Similarly, if you have a preferred grocery store, sign up for their loyalty card and use their store app for additional discounts.

You can also explore online coupon sites, like Coupons.com. Then, you can print the ones you want and bring them to participating stores.

If you’d rather go the rebate route, check out the savings through apps like iBotta and Checkout 51. While coffee rebates aren’t always available through the apps, they do come up regularly. Plus, the app is free, and once you have enough credits, you can cash out with ease.

Combine Savings Techniques

All of the techniques above can help you get great deals on coffee. You can even combine a few when you use a rebate app, coupon, and store sale to get more savings. And, if you are out and about on International Coffee Day, make sure to get your free cup from participating stores. Ultimately, nothing beats free, so take advantage of the offers and enjoy an extra cup at no-cost to you.

Where do you usually find great deals on coffee? Tell us about it in the comments below.

Read More:

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

How Much Money Can You Save Yearly in a Polygamous Relationship?

September 21, 2018 By Tamila McDonald Leave a Comment

When it comes to finances, being in a relationship inherently makes things more difficult. Even if there are only two adults in the equation, that means serious discussions. Add more partners to the mix and the financial complexity increases. On the other side of the equation, a multi-partner or polygamous relationship might actually save you money.

Polyamorous vs. Polygamous Relationships

Before discussing the potential money-saving advantages of having multiple partners, it is important to point out the difference between polyamory and polygamy.

Many people assume the terms are interchangeable. However, they refer to two separate things. Polygamy involves being in more than one relationship that is treated as a marriage and is illegal under U.S. law.

Polyamory is a form of nonmonogamy. This type of relationship includes multiple romantic partners but no more than one (and, at times, none) are considered married. Polyamory is legal in the U.S., as long as the relationships don’t shift into being polygamous.

How Much Money Can You Save?

The exact amount of money a person can save in a polyamorous or polygamous relationship depends on a range of factors. The savings will vary depending on the unique circumstances surrounding the relationships.

If multiple partners choose to reside under the same roof, the potential to save on housing costs can be significant. For example, an average mortgage payment in the U.S. is $1,029. If this is split by a couple, each person is responsible for $514.50. However, if a third person is there, each partner pays just $343.

The same division of costs could apply to any household expenses. Help with utilities and maintenance expenses can result in savings for each person. Similarly, food costs could be split, saving each individual a bit of cash.

However, property insurance can be more complex. You may only be able to secure homeowner’s insurance for those who are legal owners. So, unless every partner is a legal owner of the house, a single policy won’t cover everyone. Separate renter’s insurance policies may be necessary for certain partners.

Child Care Savings

Another potential point of savings is child care. If a partner can stay home with the children, savings can be major. Eliminating the need for child care, results in a savings of $6,615 to $19,805 annually, depending on your state. But, if someone has to quit their job to stay home, it will offset the savings. Job loss lowers the household’s total income.

You may be able to reduce other expenses as well. For instance, you may be able to carpool. Eliminating the need for a vehicle or lowering fuel costs helps with savings. If two partners wear similar size clothes, they may be able to share parts of their wardrobe. If large household purchases, like televisions or appliances, are split equally, each person only pays part of the total cost.

Ultimately, there is potential for significant savings, especially if all of the partners choose to live together.

Can You Really Save Money?

To put it simply, no, there is no guarantee that a polyamorous or polygamous relationship will save you money. For example, if multiple partners move in together, each person can save on housing costs. However, if you end up maintaining more than one home, those expenses go up.

Having more than two romantic partners doesn’t mean everyone wants to live together. This could leave some people contributing to more than one partner’s household. Expenses such as splitting rent or mortgage payments, utilities, maintenance costs, or others, add up quickly.

Similarly, maintaining multiple romantic relationships could create costs beyond being in one relationship. For instance, you might pay for more date nights, birthday and Christmas gifts, or similar expenses could be higher.

If saving money is the goal, then each person needs to review their budgets and income as a starting point. Then, open discussions are necessary to ensure everyone does their fair share in maintaining the household(s) or for deciding if cohabitating is the best approach.

Significant Risks of a Polygamous Relationship

If a relationship is genuinely polygamous, there are additional risks. First, criminal charges are a possibility. This can lead to serious financial costs, ranging from lawyer’s fees to fines. Plus, if there is jail time, that results in lost wages and potential employment difficulties in the future.

Second, estate planning in a polygamous relationship is also challenging. Multiple marriages complicate who has rights to a person’s property or financial assets after their passing. These complexities are one of the reasons polygamous relationships are illegal, especially in common law marriage states where a formal marriage isn’t a requirement to gain certain rights.

Even individuals exploring polyamory can find estate planning difficult, particularly if they want to leave assets to their various partners. With this in mind, it’s always wise to explore state laws regarding polyamorous and polygamous relationships, as the definitions and requirements can vary from one jurisdiction to the next.

Money Saving Opportunities Do Exist

Ultimately, polyamorous and polygamous relationships can result in money-saving opportunities. They can also come with additional costs. Open communication and active planning steps are necessities. Otherwise, it will be challenging to find workable solutions that can help each person to save.

Additionally, it’s wise to avoid crossing into polygamy. The legal ramifications are significant. They can also be potentially dire, and incredibly costly if there are any charges.

Polyamory doesn’t necessarily come with the same risks. If you want to maintain multiple relationships, it’s wise to explore state and federal laws thoroughly, especially in common law marriage states. That way, everyone can stay on the right side of the law and avoid the legal and financial complications.

Are you in a polygamous or polyamorous relationship? Share your thoughts about finances in the comments below.

Looking for more articles about relationships and money? Give these a try:

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

You Need These Top 13 Finance Books To Change Your Life

September 20, 2018 By Tamila McDonald Leave a Comment

Where are you in your financial journey? Maybe you’ve just landed your first job or your company has offered a 401(k). Whatever your journey is, there are tons of books that can help make it easier. Here are some of the best personal finance books of 2018 that can change your financial life.

The Total Money Makeover – Dave Ramsey

If being debt-free is your goal, it’s hard to go wrong with Dave Ramsey’s The Total Money Makeover. His tried-and-true approach is touted for its simplicity and effectiveness, and his brutally honest style doesn’t sugarcoat anything.

Not only can this book help you work your way out of debt, but it also gives you skills for avoiding it in the future. Ultimately, if you are struggling with debt and can only choose one book, this should be the one.

Your Money or Your Life – Vicki Robin and Others

Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence extols the benefits of frugal living, and not just from a financial perspective. It also shows how, by budgeting and saving, you can lead a happier life by having access to more choices.

The book focuses on learning to live within your means while planning for the future. Many people consider it a personal finance must-have. Just make sure you look for the most recent release (currently a 2018 update), as there have been multiple versions of this book over the years.

Personal Finance for Dummies – Eric Tyson

If you don’t know the basics of personal finance, starting with Personal Finance for Dummies is a smart move. Terms are clearly explained throughout, and the concepts are simplified to assist with learning. Plus, a broad selection of categories is covered, making it great for those who need a solid foundation.

The Index Card – Helaine Olen and Harold Pollack

The Index Card: Why Personal Finance Doesn’t Have to Be Complicated, is another book that focuses on the essentials. The tips are highly actionable, giving you clear direction for improving your financial life.

Additionally, the book avoids being long-winded so that you can derive value from it quickly. Plus, its very easy to digest, making it great for personal finance beginners and beyond.

The Automatic Millionaire – David Bach

For those who appreciate simplicity, The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich is actually a one-step plan to help you achieve success. While it almost seems too good to be true, it includes success stories focusing on individuals with modest incomes. Plus, it avoids headache-inducing steps like hardcore budgeting. Even better, you can get started without a six-figure income.

While the original version came out in 2004, it has since been updated. Just make sure to find a recent edition if you want the most valuable information.

Rich Dad Poor Dad – Robert Kiyosaki

Part memoir, part money guide, Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! was updated in 2017. The book includes money management tips for adults. It also offers information on helping your kids thrive financially.

Even if you don’t have a substantial income today, or are living paycheck to paycheck, this book can help you start on the path toward wealth.

You Are a Badass at Making Money – Jen Sincero

You Are a Badass at Making Money: Master the Mindset of Wealth is an exceptional book for learning how to evaluate your habits, such as things that may be hindering your financial success. It is filled with anecdotes and easy to understand concepts. It’s a candid and even humorous read that is chocked full of wisdom and insight.

Why Didn’t They Teach Me This in School? – Cary Siegel

A great book for teens and young adults, Why Didn’t They Teach Me This in School: 99 Personal Money Management Principles to Live By covers information that many kids don’t receive while they are growing up. The content is easy to digest and focuses on learning to manage money, ensuring it doesn’t control your life.

The Behavior Gap – Carl Richards

The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money, makes it easy to understand why so many people make mistakes with money. It shows how bad habits can develop, and helps the reader step away from the trappings that may have them stuck. Plus, it makes adopting a healthier mindset about money easier, which is something that can serve the reader for years to come.

The Millionaire Next Door – Thomas J. Stanley and William D. Danko

When most people picture millionaires, they imagine a glamorous lifestyle. However, the reality is actually quite different in many cases.

In The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, you learn about the habits that helped people cross into millionaire territory and achieve financial freedom. Most of their techniques can apply to any person’s life, making this a great personal finance book for any collection.

All the Money in the World – Laura Vanderkam

All the Money in the World: What the Happiest People Know About Wealth, takes on the personal finance topic a bit differently. Instead of stressing pure frugality, the book discusses how to get the most personal value from your money by spending in alignment with your priorities.

Admittedly, it shouldn’t be the first book on most people’s list, especially those who are battling significant debt loads or lack any savings. But, if you have the basics in order, it’s certainly worth reading.

The Little Book of Common Sense Investing – John C. Bogle

Another option for those who have the personal finance basics down, The Little Book of Common Sense Investing explains why index funds are such valuable options. Plus, the information is very easy to understand, making it a great choice for those who are new to investing and want it to feel more accessible.

Money A to Z – Scott Alan Turner

Money A to Z is actually a children’s book. It uses the alphabet to teach kids about personal finance concepts, giving them a solid foundation in their earlier years.

Anyone with a young child should consider picking it up. After all, it’s never too early to start teaching your children good money habits.

What have been your best personal finance books of 2018? Tell us about it in the comments below.

Looking for more great articles? Here are a few to get you started:

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.