Those who have asked as to when the light bulb went out in my head and decided to quit drowning in debt and start handling my money seriously:
It was around this time that I moved out of New York City and into the suburbs. Now that I don’t have to worry about the city commute, I have more time to think logically. That’s when I realized my financial situation was only going to get worse if I don’t change my ways.
I came upon the Financial Independence group on Facebook and began purchasing books recommended by people who had attained financial independence.
Here are a handful of my personal favorites.
The Simple Path to Wealth: Your road map to financial independence and a rich, free life
This book will show you how to invest without paying attention to social trends, avoid tireless research and how to better spend time, and how to invest the easy way.
It will keep you engaged till the very end.
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
This book will shift your perspective on money. Some of the book’s views may be debatable depending on your background, but you’ll appreciate the educational value.
This is the boost you need to change your money perspective.
Think and Grow Rich: The Landmark Bestseller–Now Revised and Updated for the 21st Century
This book provides you with the necessary skills to demonstrate that you can better your financial and professional situation. Despite the fact that it does not specifically address finance, it does discuss the law of attraction. This book contains information that may be used today and future generations.
The Intelligent Investor: The Definitive Book on Value Investing
This book is jam-packed with useful information, but it’s not for the faint of heart. Due to the large amount of investing technicality language, I read it again, to better grasp it. Also, keep in mind that this book hasn’t been revised since 1949, yet the basics of investment haven’t changed.
Get A Financial Life: Personal Finance
This is the book that will show you how to get your financial act together step by step. You’ll learn how to make a budget, pay off debt, and save money on taxes. Although this book is geared for a younger audience, I regard it as a “reference tool” for people of all ages and in a variety of situations.
Money Management & Apps
We personally use Personal Capital to track our spending, saving, see current balances, and check on portfolio performance. It allows you to view all of your accounts from one screen and sends you weekly spending updates. It’s 100% free to use for tracking your finances and available on all platforms.
This go-to cloud application has been a lifesaver in consolidating all of my personal money data into one convenient area. It helps me in identifying areas where I could improve as well as areas where I am doing well.
Online Stock Brokerage & Investing tools
I first started investing in the stock market with Robinhood and still using it today as it holds a larger portion of my portfolio. Robinhood is a no-fee brokerage. Trade stocks on mobile, pay nothing. It is totally free.
Fidelity is also a mutual fund company and online broker. They offer great stock details and great customer service. They hold a huge portion of my IRA retirement accounts.
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Loans
Neighborhood Assistance Corporation Of America is a non-profit, HUD-certified homeownership and advocacy group dedicated to assisting financially deprived people in becoming homeowners by providing low-interest loans with no down payment and no closing charges.
Insurance
When it comes to vehicle and house insurance, comparison shopping is a must. Gabi is the one to go to. They saved me $900 by comparing and matching my coverage with additional benefits. I highly recommend their services
