A life-changing holiday gift: Personal finance books.

(Note: This is an update of an article that ran in 2016, with some new books to go along with ones I feel confident re-recommending.)

Some people are into experiences rather than gifts. Physical presents take up space and need to be dusted, whereas a massage or a theater ticket is a one-and-done event.

I suggest that a personal finance book is both a gift and an experience. Sure, it takes up a little space – but it can lead to life-altering changes and literal enrichment. And if you get the Kindle or PDF version, it doesn’t take up any room in your domicile.

When you give the gift of personal finance, you’re giving people tools that can get them out of current money troubles and/or help them build the lives they want. Doesn’t that beat the heck out of a scented candle or a cheese log?

 

Since there are as many kinds of PF books as there are money situations, I’m listing a variety of options – starting, obviously, with my own.

“Your Playbook For Tough Times: Living Large On Small Change, For The Short Term Or The Long Haul” and “Your Playbook for Tough Times, Vol. 2: Needs And Wants Edition” are aimed at three groups of people:

• Those who are already in financial difficulty (including the paycheck-to-paycheck crowd)
• Those who are seeing tough times on the horizon (e.g., a whole lotta layoffs at the workplace)
• Those who want to live lean to realize a dream (entrepreneurship, full-time parenthood, early retirement, et al.)

The tips are practical and field-tested (often by me!), and their effectiveness is confirmed by Amazon users as well as reviews on sites like Wise Bread and The Simple Dollar.

And: I happen to be running a special right now on the e-versions. To get one or both, visit the payment platform and use the code POTLUCK for the original book and POTLUCK2 for the second one. Doing so will get you the e-books (PDFs) for $5 apiece.

The discount is good through Jan. 31, 2018, on the theory that if you might want to make “saving money” your New Year’s resolution, or that you (or someone you know) might feel weak upon seeing the January credit card bills. Spending on celebrations can be insidious.

(The original “Playbook” is available in Kindle and paperback versions; Vol. 2 is also available in paperback and Kindle.)

 

But enough about me. Let’s talk about my daughter! Specifically, let’s talk about “Frugality For Depressives: Money-Saving Tips For Those Who Find Life A Little Harder,” by Abigail Perry.

Although depressives are noted in the title, it’s actually a book that applies to any type of chronic illness or condition. Typical frugal hacks don’t always work for those whose lives aren’t typical.

Incidentally, one of the Amazon reviews notes that “even non-depressives will find it useful.” Maybe the overwhelmed millennial or recently divorced person in your life could use Abby’s “frugal workarounds” too – especially the parts that teach you how to be kinder and more forgiving of yourself, in all your glorious imperfection.

 

 

 

PF holiday gifts for the financially challenged

“Deal With Your Debt: Free Yourself From What You Owe,” by Liz Weston. This book would be a real lifeline to any indebted relatives or friends. Weston’s advice is practical and achievable. She offers empathy to those who are terrified and tough love to anyone who thinks it’s OK to let debt build and build.

“The Debt Escape Plan: How to Free Yourself From Credit Card Balances, Boost Your Credit Score and Live Debt-Free,” by Beverly Harzog. Your debt won’t go away. It’s up to you to do something about it. As its subtitle suggests, this book teaches smarter ways of handling money after debts have been retired. Also from Harzog, also recommended:

“Confessions of a Credit Junkie: Everything You Need to Know to Avoid the Mistakes I Made.” Check out her website, BeverlyHarzog.com, to learn more about the right ways to use plastic and to read unbiased reviews of credit card offers (Harzog has no affiliate relationship with issuers).

“Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights,” by Gerri Detweiler and Mary Reed. This book, from the Kindle store, is free. Yes, completely free. The consumer advocates who wrote it want you to know what the rules are and how to fight back against illegal debt practices and debt scams. Even if you don’t need it yourself (lucky you!), recommend it to anyone you know who is trying to get out from under.

“The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life” by Lauren Greutman. The artist formerly known as I Am That Lady writes about her descent into debt and the ways she and her husband climbed back out. In other words, this isn’t some theoretical economist in an ivory tower looking down her nose at anyone who carries a balance. You won’t be lectured to, but rather encouraged and helped. Note: This is a faith-based book, which isn’t everyone’s cup of tea. But it might be just the thing for someone (or a whole lot of someones) on your list.

 

 

For those who want to do better

“The 10 Commandments of Money: Survive and Thrive in the New Economy,” by Liz Weston. The New York Times calls this book “wonderful” for a reason: Weston understands how hard some people were hit by the recession. Rather than repeat the same old bromides, the author is realistic about how things have changed and offers advice that fits.

 

 

“Smart Mom, Rich Mom: How To Build Wealth While Raising A Family,” Kimberly Palmer. This combination empowerment manifesto and wake-up call is based on Palmer’s own research (she’s a former senior money editor at US News & World Report) and talks with moms all over the country. As a working mother with two kids, Palmer skips the fringe ideas and focuses instead on do-able, sustainable strategies.

“Live Your Life For 1/2 The Price,” by Mary Hunt. The queen mother of frugal living, Hunt sums up her approach quite simply: “It’s the money you don’t spend that ultimately gives you the freedom to live the life you love.” The author of a couple of dozen books and two websites (DebtProofLiving.com, EverydayCheapskate.com), she helps readers take control of their cash, avoid fees, pay a fair price and even pay off their mortgages early.

 

 

For those looking ahead

 

“You Can Retire Early!: Everything You Need to Achieve Financial Independence When You Want It,” by Deacon Hayes. Early retirement has spawned a subset of personal finance blogging. Their readers tend to be younger, but it’s also possible to construe “early” as earlier than you thought, as in “maybe you won’t have to work until you drop dead.” And even though not everyone wants to retire early, some people who love what they do would like the option of changing the way they do it. Members of both groups should be interested in this book.

“The Five Years Before You Retire: Retirement Planning When You Need It the Most,” by Emily Guy Birken. Think you’ve got enough for your golden years? You might be surprised – and finding that your funds are lacking is not the kind of surprise you want in your 60s. Birken walks you through decisions you need to make in your last few years of full earnings.

“The Smart Woman’s Guide to Retirement: How to Save For Your Future Today,” by Mary Hunt. When I gave this book away, some of the comments were a little disheartening (e.g., “I’m in my 40s and haven’t saved a dime”). Whether you’re just starting out or halfway through your working years, you need to put together a plan. Hunt shows you how. Remember: Women tend to outlive men, and more women are opting not to marry or are winding up divorced (whether they want to be or not). Prepare to take care of yourself.

 

 

“What To Do When I Get Stupid: A Radically Safe Approach to a Difficult Financial Era,” by Lewis Mandell. While you’d like to think you’ll always be able to handle your own funds, the fact is that financial abilities peak at age 53 and are likely to decline after that. Since making the wrong decisions and/or being defrauded are both real possibilities, the author shows how to make sure we have enough money to see us through.

 

Frugality primers

“The Coupon Mom’s Guide to Cutting Your Grocery Bills in Half: The Strategic Shopping Method Proven to Slash Food and Drugstore Costs,” by Stephanie Nelson. Want to get food and other necessities for a lot less, or even for free? Nelson has plans for novices and coupon hounds alike, and even for those who want to save money but are short on time/inclination. (Her website, CouponMom.com, provides weekly coupon-sale matchups for hundreds of supermarkets, drugstores and dollar stores across the country. Recent deals have included laundry soap for 3 cents a jug, toilet paper for 10 cents a package, and free name-brand cold medicines, dog treats and analgesics.)

“Clark Howard’s Living Large in Lean Times: 250+ Ways to Buy Smarter, Spend Smarter and Save Money,” by Clark Howard. The nationally syndicated radio host has frugal hacks for beginning, intermediate and veteran deal hounds. Howard is a populist who gets it – he knows how everyday people live and is determined to help them get the most bang for the buck.

 

Think coupons aren’t worth it? Not if you’re doing them right – and it doesn’t have to eat up hours of your life. A new book from the authors of the Living On The Cheap website shows why.

“The Ultimate Guide to Coupons: How to Save More Money in Less Time and Get The Best Deals,” by Laura Daily and Teresa Mears. Think coupons aren’t worth it? Not if you’re doing them right – and it doesn’t have to eat up hours of your life. The authors of the Living On The Cheap website reveal the “secrets of super savers.” Specifically, “the smart way to use coupons, investing just minutes to save dollars.” They’ve produced a book that stays true to the LOTC mission: to help people live their best lives without breaking the bank.

“Hard Core Poor: A Book On Serious Thrift,” by Kelly Sangree. Just what it sounds like: A primer on how pinching pennies can keep you in the ballgame when times are tight. Seasoned frugalists might find a lot of this material to be pretty obvious. But if someone you know is new to saving money, this book could be a big help.

Keep in mind that not everyone will appreciate this kind of gift. Some might take umbrage, feeling they’re being judged or that they’re doing it wrong. At some point, however, recipients might start reading – the first step to changing their own lives.

You might even be thanked later on. But of course, that’s not why you gave a book or books. The point is to help, to encourage or to inspire. You might even change – or save – someone’s life. Whether or not you ever find out is beside the point.