What do you think is a good introductory book for personal finance to someone just starting out in it?
This person has a checking and savings account. He has no other investments. He is a little freaked out by all the choices. What could I give hime that would simplify it all for him?
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- Google personal finance, and print out (or save) useful articles. There may be books referred to in those articles, and he could check them out in the library. Hard to recommend just one book, as you may not know what he wants to achieve with his finances. Oprah's Debt Diet has good ideas about saving, and there are lots of other web pages with interesting bits and bobs too.
- Suze Orman has some good books. They are easy to read and understand. It is a good place to start. A good one by her is "The Money Book for the Young, Fabulous, and Broke". I read it when I really didn't know much about 401Ks or Roth IRA's and I found it to be very helpful. Plus, after reading it, I become more motivated to save and invest!
- Dave Ramsey--Money Makeover or Financial Peace. This is great---they have a good website and teach you how to manage & make money while staying out of debt.
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