Hooray! It's National Book Month!
O n learning that October is the time to celebrate all things literary,
I figured I’d suggest an insurance-related book for readers of this blog.
But then I reconsidered that idea.
How many people want to read an entire book devoted to insurance? Sure, people want to know what’s what about finding the right coverage, but reading a whole book about insurance seems rather sadistic, doesn’t it? (Most of us would probably prefer to give ourselves paper cuts with our declaration pages.)
Then again, people do love to save money, even if it means putting down the latest from Danielle Steele and picking up a weighty tome on personal finance. The stacks at Barnes and Noble testify to our predilection for pinching pennies.
So I’m skipping the insurance book idea and expanding the scope to personal finance in general. Insurance is an important component to everyone’s economic well being, but what good is getting a deal on your insurance when you’re just pouring the savings into bad investments and extravagant purchases you can’t afford?
The folks here at InsureMe know a thing or two about proper money management, so I decided to ask a few of them for a list of recommended reading. Here are their suggestions:
Teach Your Children Well, Shred Your Debt, Skip the McMansion
Name: Lori Reed
InsureMe profile: Director of Marketing
Book selection: “Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money – That the Poor and Middle Class Do Not” by Robert T. Kiyosaki and Sharon L. Lechter
Bottom line: “It made so much sense to me,” says Reed. “It made me think about making money work for itself (and me) rather than just thinking I am supposed to work harder and longer.”
Name: Mike Sajdak
InsureMe profile: Chief Financial Officer
Book selection: “The Total Money Makeover” by Dave Ramsey
Bottom line: Sajdak: “It takes complex financial topics and makes them easy and enjoyable for everyone. I especially like Dave’s focus on shedding all debt.”
Name: Tim McTavish, a.k.a. “The Frugal Scotsman”
InsureMe profile: President and Chief Executive Officer
Book selection: “The Millionaire Next Door” by Thomas Stanley
Bottom line: “The book analyzes how [millionaires] live and think differently about money than the non-millionaires,” says McTavish. “Most surprising is that most millionaires don’t look like the person who’s loaded with cash. Instead, they’re probably the person next door. That guy driving the fancy car, living in the mansion, well, he’s likely as broke as you are. Millionaires live well within their means, don’t flaunt their cash, are thrifty (flying coach and using coupons), pay for higher education for their kids, and rarely if ever borrow money.”





Comments
Great choices all the way around, baby. Especially Dave's book. It's a quick way to learn how to deep-six your debt!
Posted by: DEBTective | October 12, 2006 12:30 PM