What’s in your savings account right now? Unless it’s a lot, you’re alone. In fact, this amount is under $100 for nearly a third of Americans.
According to GOBankingRates, 32.9% of Americans over the age of 18 have no more than $100 in their savings account. According to a similar study conducted in 2022, 22% of Americans had savings of less than $100.
It’s safe to say that saving money is a struggle for us.
It is important, however, to know what the most effective saving techniques, tricks, tips, and strategies are in order to increase your savings. In one of these books, you might be able to find them.
1. “But First, Save 10: The One Simple Money Move That Will Change Your Life” by Sarah-Catherine Gutierrez
One of the easiest books on personal finance that you’ll ever read is “But First, Save 10: The One Simple Money Move That Will Change Your Life.” Why? Financial jargon and complex financial concepts are explained. And a simple approach aimed at producing abundance and joy is outlined.
Although it is primarily geared toward younger women, it offers plenty of advice for people of any age, gender, interest, or lifestyle. Overall, anybody interested in saving can benefit from it.
This book covers topics such as:
- Tools for financial automation, such as robo-advisors.
- Getting rid of debt.
- Putting money aside for emergencies.
- Retirement savings.
The main goal of the book is to assist you in developing a sustainable routine that leads to financial freedom.
‘But First, Save 10’ was written by Ladysplaining Money’s Sarah-Catherine Gutierrez. Besides being an author, she also runs a financial planning firm in Arkansas, Aptus Financial. As a co-founder of SAVE10, she aims to help women achieve financial independence.
2. “The No-Spend Challenge Guide: How to Stop Spending Money Impulsively, Pay off Debt Fast, & Make Your Finances Fit Your Dreams” by Jen Smith
The aim of this book, written by Jen Smith, who founded the website Modern Frugality, is to help you spend less money on unnecessary items in a realistic way,
In “The No-Spend Challenge Guide”, you’ll learn how to control and understand your shopping impulses, not just ignore them. You will also learn how to create a realistic budget and remain committed to it.
The key takeaways include:
- The shortcomings of budgeting alone.
- The best way to track your finances.
- Debt management tips.
- Your biggest obligations and how to save money.
Moreover, you’ll discover some excellent ways to make your life more enjoyable without spending a penny.
3. “The Millionaire Next Door” by Thomas J. Stanley
Are you having trouble getting motivated to save lately? Then this is the book for you.
The reason? According to this book, almost anyone can save and invest their way to wealth — no matter what their income level is.
As a result of interviews with hundreds of millionaires, Thomas J. Stanley points out that millionaires across the country have a lot in common. Most of the millionaires in this book don’t become wealthy from inheritances or family fortunes. Instead, they saved and invested their way into wealth.
This easy-to-read book is filled with personal stories and interviews, and you’ll leave it with new and actionable advice.
4. “365 Ways to Live Cheap: Your Everyday Guide to Saving Money” by Trent Hamm
This book was written by Trent Hamm, the founder, and editor of The Simple Dollar, one of the world’s most popular personal finance blogs. With that said, you will learn numerous strategies for saving money
You can save up to $65 each year simply by washing your clothes in cold water, for example. Getting the most out of your grocery shopping is another great way you can save money.
If you’re able to get a discount on food, you should buy it in bulk. The excess food can be stored in a deep freezer and prepared whenever you like.
“365 Ways to Live Cheap” is the perfect book if you’re looking for ways to save money on a long-term basis. You can read this book for free with Amazon Kindle Unlimited.
5. “The Year of Less: How I Stopped Shopping, Gave Away My Belongings, and Discovered Life Is Worth More Than Anything You Can Buy in a Store” by Cait Flanders
“The Year of Less,” released in 2018, became a Wall Street Journal best-seller. And, for good reason.
With such a full title, you can guess that the book is directed at young adults who look up to Carrie Bradshaw, Michael Scott, or “fake rich” influencers for financial advice.
The book was written by Cait Flanders based on her personal experiences. When she realized how much she was spending on unnecessary items and how much money she was wasting, she decided to make a drastic change in her life. Interested in zero-waste, she began only spending money on essentials.
Throughout the book, she provides insightful advice on how to change your spending habits from excessive consumption to smart spending. Despite Cait’s extreme approach, she demonstrates just how easy it is to let your whims rule your spending, and how much difference you can make when you keep your cool.
6. “The 30-Day Money Cleanse: Take control of your finances, manage your spending, and de-stress your money for good” by Ashley Feinstein Gerstley
Feeling stressed and anxious about your budget? If so, you will find a month-long guide to cleanse your finances in this book.
This book, written by Ashley Feinstein Gerstley, a renowned author and founder of “The Fiscal Femme,” walks you through the process of overcoming bad habits, understanding basic investment strategies, and creating a personalized financial plan.
With this book, you will discover and eliminate your stressors related to money, overcome your bad spending habits, and discover where your money is being spent. You’ll also find basic information about investing throughout the book. Additionally, it provides prompts that keep you on track.
7. “The Spender’s Guide to Debt-Free Living” by Anna Newell Jones
Known for her expertise in personal finance, Anna Newell Jones wrote this amazing book for people who want to learn how to save money and avoid debt.
Prior to starting AndThenWeSaved.com, Anna was heavily in debt. In just 15 months, though, Anna managed to pay off nearly $24,000 of her debt using the method she devised. As a result of Anna’s inspirational story, many people worldwide have become debt-free.
You will gain a better understanding of how serious the problem of debt can be after reading this book. In addition to separating expenses into needs and wants, Anna mentions many mistakes most people make in “The Spender’s Guide to Debt-Free Living.” Even so, you will get a solution for every error you make.
Depending on what you need, you will know how much money you should spend. Her honesty about her spending problems makes you connect with her and listen to her advice, which is the best feature of the book.
8. “The Index Card: Why Personal Finance Doesn’t Have To Be Complicated” by Helaine Olen and Harold Pollack
Keeping meticulous records of expenses in an Excel spreadsheet is something fiscally responsible individuals do, right? Actually, that’s not entirely true.
An alternative approach offered by University of Chicago professor Harold Pollack and financial journalist Helaine Olen is that everything you need to know about managing your personal finances can be summed up on an index card measuring four by six inches. You’ll learn about the 10 rules on the index card, as well as how you can simplify a topic that is often overly complex.
9. “Suddenly Frugal: Frugal: How to Live Happier and Healthier for Less” by Leah Ingram
Living a happier, more fulfilling life without going broke is the main goal of “Suddenly Frugal”. In it, you’ll find countless pieces of practical, unique, and easy-to-follow advice.
“Suddenly Frugal,” written by Leah Ingram, a health, lifestyle, and financial expert, discusses ways to save more money. Examples include switching to reusable microfiber rags instead of paper towels choosing the right appliances to make your home more budget-friendly — as opposed to traveling less” or “buying fewer avocado toasts.”
According to the book, you can save up to $25,000 a year through this program. However, that only applies to extremely extravagant lifestyles. Even so, you’re sure to be able to save a lot with all the tricks and tips in the book.
10. “Your Playbook for Tough Times: Living Large On Small Change, For The Short Term Or The Long Haul” by Donna Freedman
Are you struggling to live within your means? Are you anticipating financial trouble? Or, are you hoping to achieve your dreams without going into debt? If any apply to you, then this should be the book that you’re reading.
You’ll find guidelines in the book that will help you overcome financial hardship if you follow them. Also, in the book, you will learn how to:
- Live frugally — even when you don’t need to.
- Budget-friendly ways to enjoy life.
- How to create a budget by conducting a “financial fire drill.”
FAQs
What are the benefits of reading books about saving money?
The following reasons might make you want to read a book about saving money.
- To begin with, they can give you specific advice that can help you improve your savings habits.
- They can also help you develop a more positive attitude towards saving money and change your mindset about it.
- Lastly, they can simply motivate and inspire you to reach your financial goals.
Is there anything I should look for in a book about saving money?
Here are a few things to keep in mind when choosing a money-saving book:
- Credentials of the author. You should look for an author who has a personal story that can help you relate to their advice or is an expert in personal finance.
- The tone of the book. The subject of saving money can be a bit dry and technical in some books. Try to find a book that offers practical advice that you can use immediately, and that’s easy to read and understand.
- The focus of the book. Budgeting and debt repayment are two of the topics covered in some books about saving money. Other approaches are more comprehensive, covering a variety of topics. Identify the areas where you need assistance and choose a book that addresses them.
Is there a way to get the most out of reading a book about saving money?
To make the most of reading a book about saving money, you can do the following:
- Keep notes. Write down the most helpful strategies and tips you find as you read. By doing this, you will be able to remember the information and refer back to it in the future.
- Identify your goals. You should set specific goals for yourself once you’ve identified some strategies you want to try. As a result, you will be able to stay motivated and on track.
- Make a move. In order to make the most of the advice you read, you need to take action on it. Your only chance of saving money is by doing this.
What are some ways I can save money on books about saving money?
Saving money on books about saving money is possible in a few ways. Here are some options:
- Search for used books. The price of used books can often be a fraction of what it would be if they were new.
- Visit the library to check out books. There are many books about saving money available at libraries.
- Subscribe to book newsletters. Book publishers and retailers often list upcoming sales and discounts in their newsletters.
- Shop online for books. Online retailers often offer book discounts — especially during sales.
