One thing you should always do when it comes to credit, read the fine print of any application. It's not necessarily page turning material, but it does matter to your finances. But fear not listeners, we have some fun reading options for you this summer. We've asked financial writers, bloggers and planners to send us what they're perusing, and what they think you should pick up.
Carmen Wong Ulrich, Assistant Industry Professor at NYU PolyTech, picks:
- "Debt, the First 5000 Years," by David Graeber: "Don't be intimidated — it's a doorstopper — but inside is a fascinating history of our relationship with debt, culturally, around the world and through the ages. Let's just say when we boil it down when it comes to debt, modern society and contemporary times have a ton of baggage."
Kimberly Palmer, personal finance columnist for US News & World Report and author of "Generation Earn," suggests:
- "Where the Peacocks Sing: A Palace, a Prince, and the Search for Home," by Alison Singh Gee: "It's a memoir by a young woman who was living a really luxurious ex-pat life in Hong Kong, but then she breaks up with her boyfriend who was earning a lot of money ... she has to learn how to live on her own salary now, and that means scaling back in every area of her life. She has to stop buying taxis, and take the bus instead. She has to stop going out to restaurants and buying art for her apartment. Along the way, she really does realize she's happier with her new lifestyle. So the story is really inspiring for anyone who has to do the same and cut back on their spending, and its also really fun to read."
Jill Schlesinger, CFP and CBS News analyst, recommends:
- "The Bankers' New Clothes: What's Wrong with Banking and What To Do About It," by Anat Admati and Martin Hellwig: "It challenges the way the banks have always run their businesses, which is with borrowed money. The authors argue we let banks borrow too much money to operate their businesses, and we do that at the expense of the entire financial system. It really is eye opening."
Meg Favreau, senior editor at the personal finance website Wisebread.com, recommends:
- "How to Cook Everything" and How to Cook Everything Vegetarian" by Mark Bittman: "One of the pieces of frugal living advice that you'll hear most often is to cook for yourself. And it's great advice, it can save you a lot of money, you can create delicious, healthy food, it can be fun ... unless you don't know how to cook, in which case it's really frustrating advice. But that's why I love these books, cause not only does Bittman provide easy, delicious recipes, but he also walks you through all the basic kitchen techniques, tells you what to buy to stock your kitchen and basically empowers you to cook for yourself."
Want more? Here are some picks from the past and ourFacebook followers:
- Kristin Wong, writer for Get Rich Slowly, recommends: "Secrets of Six-Figure Women" by Barbara Stanny.
- Nela Richardson, analyst for Bloomberg Government, picks: "Detroit: An American Autopsy," by Charlie LeDuff.
- Chris Farrell, economics editor for Marketplace, suggests: Katherine Boo's "Behind the Beautiful Forevers: Life, Death, and Hope in a Mumbai Undercity," "Master of the Mountain," by Henry Wiencek, Kirsten Grind's "Lost Bank" and Keith Richards' autobiography, "Life."
- Richard Eisenberg, editor of the Money and Work channels at PBS' NextAvenue.org, picks: "How to Retire Happy," by Stan Hinden, Elizabeth Dunn and Michael Norton's "Happy Money: The Science of Smarter Spending" and "Save Wisely, Spend Happily," by Sharon L. Lechter.
- Michelle Singletary, personal finance columnist for the Washington Post, suggests reading "The Millionaire Next Door" by Thomas Stanley and William Danko. Singletary also recommends "The Richest Man in Babylon" by George S. Clason and "Your Money or Your Life" by Vicki Robin and Joe Dominguez
- Ilyce Glink, personal finance expert and author of the Intentional Investor recommends "The Essays of Warren Buffett: Lessons for Corporate America, Third Edition." Glink also suggests reading The 10 Commandments of Money: Survive and Thrive in the New Economy and Deal with Your Debt: Free Yourself from What You Owe by Liz Weston.
- Paula Wethington, personal finance columnist for the Monroe News, recommends "Financial Recovery" by Karen McCall.
- Kelli Grant, reporter for CNBC, recommends: The Plateau Effect, by Bob Sullivan and Hugh Thompson.
- Ramit Sethi, author of "I Will Teach You to be Rich," suggests: "Mindless Eating: Why We Eat More Than We Think"