Since one of my goals for 2014 is to read more personal finance books, I got right to it by reading Preet Banerjee’s Stop Over-Thinking Your Money! last week. I was lucky enough to meet Preet at the 2013 Canadian Personal Finance Conference in September, so when I found out he had a book coming out I was more than keen to give it a read and review it.
Now, I’ve read a ton of personal finance books: some good, some not so good. Whenever someone asks me for a good book recommendation, I usually direct them to Dave Chilton’s The Wealthy Barber. It was the first personal finance book I read and it got me hooked right away.
That being said, I’ve also read Robert Kiyosaki‘s Rich Dad, Poor Dad, which to this day is one of the worst personal finance books I’ve ever read. Talk about a salesman disguised as a personal finance expert. I swear, the only thing I took away from that book was to get out of the “rat race” and invest in “real estate.” Yeesh.
Anywho, although I had high hopes for Preet’s book because he honestly seemed like a nice guy when I met him, I was bracing myself for another book that talked around the subject of money but never really got to brass tacks. Fortunately, I was pleasantly surprised and ended up reading the entire book in 2 days.
What I liked most about the book was that Preet wasn’t overly preachy and he didn’t talk down to his reader. And although it is a book for beginners, he does talk a bit about investments, which I found refreshing since so many other starter books completely avoid the subject.
I also really enjoyed reading the sections on how to disaster-proof your life. So many books out there just seem to focus on paying down debt or starting an emergency fund, even though having disability and life insurance are just as (if not more) important.
I’ve never given either much thought myself since they’ve always been provided through my work, but my freelancing husband has no insurance whatsoever. If something were to happen to him where he couldn’t use his eyes, ears, or hands, he’d be hooped (which is why he’s now reading the book too)!
Making a will is another thing the book discusses, and something I know me and the HB need to do this year. Now that we’re a married couple, we need to make sure there’s a plan in place if something happens to the other. Obviously it would be more critical to get a will if kids were involved, but because we are both living away from home right now, I know I would sleep better if I knew we were prepared just in case something unthinkable happened.
All in all, Preet’s book was easy to read, had a lot of facts and useful tips, and personally it was just the kick in the butt I needed to get excited about my finances again. If you’re looking for a book that’s interesting, current, and dare I say it Canadian, I’d definitely suggest giving Stop Over-thinking Your Money!: The Five Simple Rules Of Financial Success a read.
What are some of your favourite personal finance books?