Have you ever wondered what books financial gurus swear by? Bruce Youngblud of Pension Solutions Canada recently revealed his top 5 financial books. Let’s dig in and see what’s on his reading list!
1. “The Rich Barber” by David Chilton
Basic message: Be frugal and save 10% of your income.
Scoop: This book is about a hairdresser who becomes rich by living frugally and saving consistently. It’s a classic that’s easy to read and gets the point across clearly – save, save, save!
2. “The Latte Factor” by David Bach
Basic message: Small expenses add up.
Scoop: This American novel centers around a young woman who struggles with her expenses. Character? Financially independent barista. The “latte factor” refers to those small, everyday expenses that can drain your wallet over time.
Quick tips from “The Latte Factor”
- Limit your daily latte ☕
- Save those little bits of money 💰
- Financial freedom starts with small steps🚶♀️
3. “The Millionaire Next Door” (1996) Tomasz J Stanley and William D. Danko
Basic message: Saving is key and pay yourself first.
Scoop: Although somewhat dated, the book’s main ideas remain relevant. Bruce mentions that the math may be confusing due to age, but the message is timeless. It even includes a chapter on the complexities of giving money to children.
4. “The Richest Man in Babylon” by George S. Clason
Basic message: Save and invest your savings.
Scoop: This ancient tale tells the story of a slave who becomes rich through savings and investments. Bruce emphasizes that the message is still relevant today: save and invest your savings.
Key Takeaways from “The Richest Man in Babylon”
- Save first, spend later 🐖
- Invest wisely 📈
- Don’t be afraid to start over 💪
5. “Total Money Makeover” by Dave Ramsey
Basic message: Eliminate debt, including your mortgage.
Scoop: Dave Ramsey wants to cut those credit cards and get out of debt. One of his main ideas is the “snowball method” for paying off debt, although Bruce leaves the details to be discovered in the book.
Dave Ramsey’s Golden Nuggets
- Stop digging if you’re in a hole 🕳️
- Cut up your credit cards ✂️
- Snowball will help you get out of debt ❄️
Next steps
Book a free 15-minute Zoom call with Bruce Youngblud and receive personalized advice!
So pick up one of these books and start your journey to financial freedom today!
Enjoy reading and saving even better! 🎉
