Money Blue Book

Although we are now living in the computer (Internet) age and everything seems to be going paperless, certain people still insist on doing things the old fashioned way. But if you want to do a better job of saving precious time and money, you might want to start taking better advantage of the more efficient online services out there, if you aren’t already doing so. Services like postal delivery and mail forwarding can nowadays be effectively managed online without the necessity of having to perform an errand run to the post office.

Some of you may live within a short drive or even within walking distance of your neighborhood post office. But unfortunately in my case, my local post office is a bit of a distance away situated within the city center, and getting there frequently requires that I fight through road rage inducing traffic jams and suffer through depressingly long lines once I’ve arrived. While I’m sure the folks at the U.S. postal service (USPS) do the best they can under the circumstances, I pretty much avoid visiting the post office as best as I can – turning to the free USPS website to manage the bulk of my postal decisions whenever possible.

Put Your Mail On Hold For Free By Requesting USPS Hold Mail Service Online

Unless you have someone at home to receive your mail for you, those of you planning to be away for an extended period of time (3 days or more) on vacation or for a business trip may want to notify your local post office to put your mail on hold while you’re gone. While you can always visit your local post office, wade through the customer service lines, and fill out one of those Hold Mail paper card forms – the easiest way to put your mail on hold is via the Internet through the USPS homepage. Open 24 hours a day, 7 days a week, and 365 days a year, the website is certainly the easiest way to process all of your mail routing submissions. Your hold mail request can even go into effect the same business day if you submit the request by 3:00 am EST.

Currently, the USPS offers consumers the ability to temporarily put home and business mail on hold for a minimum of 3 days, up to a maximum of 30 days. During the length of the hold period, the home resident or business owner’s letters and packages are held at the Post Office, with normal delivery not resuming in bulk until the date specified.

At the present time, the USPS hold mail feature is free, regardless of whether the request is submitted in person or online. But with the way the postal service is hemorrhaging money and now trying to cut costs and save money by closing out branches and cutting back on staff, I wouldn’t be too surprised if they started imposing a USPS hold mail surcharge of $1.00 or more for each request one of these days. But for now:

• To submit a hold mail request online, visit the USPS Hold Mail Service web page. At the present time, you cannot put your mail on hold by phoning in your request.
• On the Hold Mail page, enter your 5 digit zip code number in the Create a Request box and click on Go. Bear in mind, while the online hold mail service is available in most areas of the country, not all Zip codes will qualify.
• Next, follow the displayed instructions by providing your name, mailing address, phone number, hold mail start date, as well as the date you would like your normal mail service to resume.
• Remember to record your Confirmation Number. This number is important because you will need it to make any future changes to your online request – such as if you decide to cancel the order or you later decide that you will need your mail held for a longer period of time than initially requested.

If you anticipate being away for longer than 30 days, you may need to consider having your mail forwarded to another temporary address. While the online USPS Hold Mail service is free, requesting temporary mail forwarding or any other service that requires a formal address change requires the payment of a $1.00 online service fee. The USPS requires this $1.00 fee be charged to a valid credit card for identity confirmation purposes. While some people may find this small charge rather annoying and somewhat of a deterrent to using this web convenience, I find the tiny fee to be worth the benefit of not having to deal with the time and hassle of personally visiting my local post office branch. Don’t you agree this online service is still worth the nominal cost?

Alternatively for the super frugal cheapskates, you can always print out the paper Authorization to Hold Mail (PS Form 8076) manually and give it to your letter carrier or mail it to the post office that delivers your mail for free (minus the obligatory cost of postage).

For many years now, I’ve been a loyal Costco warehouse club member. In my earlier days, I signed up for Costco’s entry level Gold Star membership program at what’s now $50 a year – applying for the co-branded Costco American Express True Earnings credit card in the process for the extra 1% cash back rebate on all club purchases. Over the years, there have been a few instances when I seriously considered discontinuing my membership due to lingering complaints and gripes about overcrowding and inadequate parking facilities at my local Costco locations. But ultimately, the accessibility headaches were not significant enough to outweigh my love for the affordability and bulk conveniences of warehouse style shopping. For now at least, I plan to continue paying my annual Costco membership fee.

Despite my occasional self musings of “is Costco membership worth the annual fee?” – overall, I have to say it is. Despite the inevitable problems associated with visiting such a popular and heavily frequented destination for hordes of bargain hunters and bulk shoppers, when you go to Costco you know the product prices will be competitive, the return policies will be ultra-liberal, and the customer service will be top notch. And no, this is not a sales pitch. I’ve visited other warehouse stores like BJ’s Wholesale and Sam’s Club – however, none of them can quite measure up to the overall offerings of Costco in my opinion.

Is Costco Executive Membership Worth The Higher Annual Fee?

A few years ago, I finally upgraded my Costco membership level to premium black card status – signing up for the higher priced Costco Executive Membership. Despite the higher annual fee for Executive Membership ($100) versus the cheaper basic Gold Star membership ($50), because of the higher reward features and extra conveniences offered by the higher membership tier, it actually makes more financial sense to go premium. Yes, Executive Membership costs an extra $50 per year, but the program offers a feature not available to ordinary white card members – a coveted 2% cash back reward rate on all Costco purchases. So long as you are able to  spend $2,500 or more in a year at Costco stores (or at least $200 or so every month), the premium membership pays for itself in the long run. Spending at least $2,500 per year will net you at least a $50 rebate check that ultimately pays for the additional cost of VIP membership.

Costco Executive Members also receive additional warehouse benefits and greater discounts on Costco services. While all current Costco members already enjoy discounted rates on services for home, automobile, health, and dental insurance, not to mention discounted savings on subsidized credit and identity theft prevention services, Executive Membership provides for even better deals and offers. The more notable perks include lower prices on check printing, extra savings on payroll services and identity protection, exclusive sign up bonuses for money market and online investing accounts, free roadside assistance for vehicles covered through Costco’s auto insurance program, and special benefits on travel packages. Here are some of the offer details for Costco Executive Membership participants:

• Up to 20% off auto and home insurance premiums via Ameriprise,
• Free roadside assistance for Costco covered vehicles, and home lockout assistance for covered homes,
• $60 sign up bonus for new Capital One bank accounts, and
• $60 sign up bonus for new ShareBuilder investment accounts with 25% quarterly rebated savings on qualifying transaction charges.

To figure out if it makes sense for you to upgrade to Executive Member level, ask yourself this question – do you spend more than $200 every month at Costco locations? While college students and single individuals who only occasionally buy bread or milk a few times a year from Costco stores may find it more difficult to hit the $200 monthly spending mark, young couples and families with children who spend extra sums on bulk packages of meat, paper towels, and/or baby products should easily be able to meet that amount with little effort. Additionally, if you are ever in the market to make a big ticket purchase (sofa, notebook computer, or new LCD TV), it might be worth it to upgrade since the Executive Member 2% cash back savings will instantly pay for the additional cost of membership.

Of course, what you really ought to try to do is earn at least $100 a year in rebates (via $5,000 total spending per year, or $417 a month) so that what way, your entire Costco membership can be obtained for free, rather than just a reimbursement of the additional Executive Membership portion. With the 2% rebate rate that the Executive Member program offers, this feat is definitely more accomplish-able, especially for heavy spenders.

Costco Executive Membership’s Refund Policy Is Satisfaction Guaranteed

If you’re still on the fence and wary of forking over the additional $50 fee for the higher membership level, Costco’s stated 100% satisfaction guaranteed and refund policy should easily sway you. The company explicitly indicates on its website and at its stores that they will refund your membership fee in full at any time if you are dissatisfied with your experience or results.

For example, let’s say that after you upgrade to Executive Membership, you discover that you shop at Costco less than you initially thought, and ultimately fail to meet the break even threshold of $2,500 a year (the point at which the 2% cash back Executive level rebates pay for the extra cost of membership itself). Hypothetically, let’s assume you only spent about $1,500 at Costco for that first year and racked up only $30 in Costco purchase rebates. By walking up to the customer service desk and demanding satisfaction due to the fact you weren’t able to profit from the Executive Membership, Costco will refund you back the difference of $20. While this refund policy is not expressly stated in such terms anywhere on the website or at Costco stores, this policy has been confirmed and verified as official and pursuant to the company’s satisfaction guaranteed policy for premium membership. Frankly, I can’t think of any real reason not to upgrade to the Executive Membership, other than your preference to reap some minimal interest income from the $50 you might earn if the funds were kept in a high yield savings account or CD deposit.

Ultimately, Executive Membership is a win-win proposition for both you the customer and Costco. You get the benefit of a risk free cash back rebate program and Costco acquires a new customer who’s eager to potentially spend more to take full advantage of the higher 2% reward rate on every dollar spent at Costco warehouse locations.

Even Without The Executive Membership Upgrade, Current Costco Members Can Still Earn 1% Cash Back On All Costco Purchases

Regardless of whether you are an Executive Member or not, if you are an existing Costco member or even a first timer who is contemplating signing up for basic Costco membership, you are eligible to earn 3% back on already heavily discounted Costco gas and 1% cash back on all of your other Costco purchases with the Costco TrueEarnings Card from American Express. Once properly linked to your Costco account, your American Express True Earnings credit card serves as your 2 in 1 membership card – with your account information and photo displayed on the back of the card for your convenience. The co-branded Costco Amex card (which waives the annual fee with a paid Costco membership) features the following attractive purchase reward structure:

• TrueEarnings Card From Costco and American Express: Unlimited cash back for the following purchases – 3% for gasoline, 3% for restaurants, 2% for travel, and 1% back for everything else, including purchases made at Costco stores.

After finally returning home from an extended three month overseas trip to spend time with my parents, I was greeted back home by an overweight mail box stuffed to the brim and absolutely overflowing with junk mail. Although I had authorized my mail to be temporarily redirected to my brother’s address while I was away, a very great deal of unsolicited junk mailers, expired coupon booklets, and pre-approved credit card offers still mysteriously winded up in my inbox. All in all, the entire paper pile, weighing in excess of many pounds, ultimately found its way straight into my trash can in a matter of minutes – fulfilling its pointless life cycle as not only a complete waste of my personal time, but as a fruitless consumer of precious natural resources.

Save The Environment and De-clutter Your Life By Reducing Junk Mail Trash

According to online statistics from sources such as the Center for a New American Dream (CNAD), a non profit organization based in Maryland whose stated mission is to protect the environment by helping Americans develop sustainable consumption habits – simply by eliminating the amount of junk mail you receive every day can significantly reduce the amount of energy and natural resources you consume, as well as greatly reduce the landfill space usage and carbon footprint that you leave behind. For example, according to numbers provided by CNAD, the Environmental Protection Agency (EPA), and various sources, did you know that:

• The average American household receives unsolicited junk mail equivalent to 1.5 trees every year, which comes out to more than 100 million trees for all U.S. households combined – the equivalent of deforesting the U.S. Rocky Mountain National Park every four months.
• 5.4 million tons of bulk catalogs and other direct mailings wind up in the U.S. municipal solid waste stream every year – paper products which take as much energy to manufacture as 660,000 SUV’s consume in a single year, and not even including the energy needed to print and transport them all.
• American consumers throw away 44% of bulk mail unopened, while recycling only 32% of all that bulk mail – spending the equivalent of 8 months per lifetime opening junk mail letters and packages.
• The process of manufacturing and recycling bulk paper parcels wastes more than 28 billion gallons of water every year.
• Taxpayers spend more than $370 million every year just to collect and dispose of all the paper based junk mail that doesn’t get recycled.

While I’m by no means a tree-hugging hippy, at some point the issue of junk mail just gets to become too much of a colossal waste of environmental resources, not to mention a tremendous mis-allocation of time and money that could be better spent elsewhere. It’s time for each of us to cut back on the number of postal junk mail that we receive. Together in aggregate, we can indeed make a huge positive difference in the world. Besides, reducing junk mail solicitations can also greatly help us streamline and declutter our already complicated lives. Assuring that you only receive letters that are important to you, it also helps to reduce the chances that vital pieces of mail get lost in the shuffle amongst all of those weekly circulars, bulk catalogs, and credit card envelopes cramming up your mailbox.

Protect Your Mailbox Privacy and Prevent Identity Theft By Being Pro-Active

Because the whole concept of direct marketing is such an incredibly incentivized and lucrative business proposition for the mass mailing companies, it’s nearly impossible to stop the junk mail stream completely. Everytime you sign up for a new credit card, subscribe to a magazine, purchase an item from a catalog, donate money to a charity, fill out a product warranty card, or buy a new car – you are potentially offering up your name and address to the direct marketers. Not only do these casual exchanges have the potential to lead to more junk mail down the road if you allow your personal address to be used in that way, they are also breeding cesspools for potential identity fraud and privacy violations. To stem the flow requires a multi-pronged attack that entails that you not only take pro-active actions, but also adopt preventative measures. Remember, contrary to popular belief, there is no actual legal right to automatically opt out of all junk mail, however we do have the right to be free of unwanted solicitations once we’ve properly and duly notified the junk mail spammer.

For starters, I recommend that you not waste money on programs out there that purportedly offer to help you remove your name from the junk mail offers and mailing lists, as you can easily do it yourself for free and with minimal effort. But if you wish to automate the opt out process and perpetually keep yourself off such lists, you may wish to try out junk mail prevention services like Tonic Mail Stopper (formerly called Green Dimes). However, note that even with the use of online programs that automate the process, like trying to get rid of roaches, there is just no easy way to permanently halt the unwelcome torrent of junk mail that surges into your mail box on a daily basis. The nearly unstoppable junk mail solicitations simply have an uncanny way of showing up even after you’ve seemingly snuffed them out at their source. Fortunately, there are strategies and tactful ways to combat the junk mail problem.

Steps To Fight Back and Reduce The Junk Mail That You Receive

1) Remove Your Name From the Direct Marketing Association’s Mailing List: Consumers receive the vast majority of their unsolicited junk mail from just three sources: the DMA (advertising letters, flyers, and brochures), the Abacus Catalog Alliance (retail store and online catalogs), and the major credit report bureaus (credit card applications and insurance offers). If you do nothing else, I highly recommend that you at least take the time to visit the Direct Marketing Association’s DMA Choice registration page, and get your name placed onto their do-not-mail list. DMA member merchants are required to update their mailing lists regularly and stop marketing to consumers that have opted out.

Getting onto the DMA do-no-mail list is one of the easiest things you can do to significantly reduce the junk mail that you receive. You will be able to remove your name and mailing address from the national mailing lists of a great number of direct marketing companies this way. While wiping your name and address from their roster is quick and easy, bear in mind that your online removal request is only valid for 3 years and you’ll have to re-register again after that time. There is absolutely no fee for online registration, but mail in submission requires a $1.00 check or money order processing charge.

• Register Names Of Deceased: The Direct Marketing Association also gives friends, relatives, and caregivers the ability to remove the names of deceased family members and other individuals from commercial marketing lists via the association’s Deceased Do Not Contact (DDNC) registrar (no verification fee). I haven’t tried myself, but I wonder if it’s possible for very-much alive consumers to intentionally placed themselves onto the list and pretend to have died to rid themselves of junk mail. It’s worth a shot I suppose although I haven’t really thought out the potential consequences of such a creative approach. If you’ve placed yourself onto the Deceased Do Not Contact list before, please share your results!

2) Remove Your Name From the Epsilon Abacus Cooperative Mailing List: Abacus, a division of Epsilon Data Services runs perhaps the largest database of mailing addresses out there for its members, mostly catalog and retail companies. Merchant members of the Abacus Cooperative contribute information about their customers and transactions  in exchange for information about other customers that may be interested in their products. As such, Abacus retains a pretty accurate database of consumer spending habits and personal contact information. Opting out is easy and signing up allows you to permanently halt the catalog mailers from the association’s members. Simply visit the Abacus Opt Out page and follow the appropriate instructions, or e-mail abacusoptout@epsilon.com with your full name and current address to request permanent removal.

3) Opt Out Of All Pre-Approved Credit Card Junk Mail: Visit OptOutPrescreen.com to stem the flow of pre-approved credit card solicitations clogging up your mail box. The website is the official Consumer Credit Reporting Industry homepage to accept and process requests from consumers to opt-in or opt-out of firm offers of credit or insurance. Under the Fair Credit Reporting Act (FCRA), the credit reporting companies of Equifax, Experian, TransUnion, and even little known Innovis are permitted to include your name and address on marketing lists used by credit card issuers, mortgage brokers, and insurers to make offers of credit or insurance that are not necessarily initiated by you. However, they must also abide by your wish to opt out and put an end to these credit card pre-approvals if that is your wish. Simply visit the OptOutPrescreen.com website to get your name deleted from their lists for a period of 5 years or longer. If you desire permanent removal, simply select the mail-in option (I highly recommend this). To submit your request, you will need to provide your full name, mailing address, birth date, and social security number. Unfortunately, this service is not currently available for businesses or companies.

4) Opt Out Of All Flyers, Brochures, and Coupon Packs: Some people like receiving weekly flyers and monthly coupon books filled with assorted promotional offers from local stores and companies. I on the other hand hate receiving them and regard them as junk mail. These types of bulk mail bundles generally involve envelopes containing a wide array of ads and coupons for locally based stores and services such as window replacement, carpet cleaning, air duct services, car washing, restaurants, and even promotional leaflets for various acai berry scams. I have yet to find any of these coupons useful.

Most of these coupon booklets are usually generically addressed to “current resident” or “current occupant” and sent out en masse with no personalization of any sort. They also frequently contain postcards with ads, often accompanied by pictures of missing children. In almost all cases, the name, phone number, and sometimes even the website address of the company that issued the junk mailer will be printed on the bulk mail package itself or on the accompanying card that contains your mailing address. Simply call or send a letter to the company directly to have your name and address taken off the bulk mailing list. For your reference, here are several of the biggest bulk coupon book marketing companies out there:

• Valassis, aka. Red Plum Coupons: Get yourself removed from Valassis or Red Plum’s coupon book mailing list by filling out and submitting an opt out request at the Valassis Consumer Support page, or by calling 1-888-241-6760. It takes about 5-6 weeks to process.
• Val Pak Savings Coupons: You can opt out of Val-Pak’s ubiquitous blue envelope packs by visiting the Cox Target Media mailing list removal request page. Be sure to input your address information exactly as it is printed on your ValPak envelope to ensure proper removal.

5) Ask Magazines and Charities Not To Sell Your Name Or Address: Tell magazines that you subscribe to and charities that you donate to the magic words – that you don’t want them to “sell, rent, share, or trade your name and address” with other businesses or charity organizations. 

6) Remove Yourself From Sweepstakes and Prize Drawings: The chances of ever winning are incredibly slim and not worth the hassle of having to deal with future junk mail solicitations. Besides, the main purpose of these contests and reward promotions is for companies to compile mailing lists of prospective customers, not to award prizes. Always avoid participating in any such offers unless you have the option, based on contest rules, to completely opt out of being placed on a mailing list. To get yourself removed from the major sweepstakes and prevent your address from being passed on to other companies for the purpose of receiving future marketing offers, contact the following:

• Publishers Clearinghouse Sweepstakes: Call: 1-800-645-9242 or e-mail privacychoices@pchmail.com
• Readers Digest Sweepstakes: Call 1-800-310-6261 or send a letter request to Reader’s Digest customer service at: Reader’s Digest, PO Box 50005, Prescott, AZ 86301-5005

7) Avoid Filling Out Product Warranty Or Buyer Registration Cards: Contrary to popular belief, those product warranty registration cards that come with the products you buy have less to do with warranty coverage than they have to do with allowing the company to update their mailing lists. A product warranty is effective the moment you purchase the product and is almost always valid whether or not you return the product warranty card (as long as you have a proper receipt). You may have noticed that many of these registration cards frequently ask for lifestyle and personal interest hobby type information, along with details about your household makeup, your income bracket, and other seemingly irrelevant data. This is to allow the company to better categorize you into the proper demographic list for future marketing solicitations, and has little to do with the underlying warranty.

8) Refuse To Accept Junk Mail By Returning To Sender: Here’s a tip to combat against other unsolicited junk mail offers not covered by the items listed above. When junk letters arrive in envelopes that specifically indicate “change service requested” or “address service requested”, it means that you can refuse to receive the letter and have it returned to the sender on demand. Simply write “Refused – Return To Sender” or “Return To Sender – Refused By Addressee” on the envelope and drop it unopened back into the outgoing mailbox to have it sent back to the sender. In most cases, this will cause the sender to remove the address from its bulk mailing list. Additionally for such letters or bulk mailers where there is indication on the face that return postage is guaranteed, you may also wish to write “Remove me from your mailing list immediately” on the face of the envelope to punctuate your point. Remember, all such returned letters to the sender must be unopened so be certain of the nature of the contents before rejecting them.

9) Beware Of The U.S. Postal Service’s Change of Address Cards: One of the biggest and sneakiest secret of all – is that the United States Postal Service is perhaps one of the biggest exploiters of your mailing information out there. The Post Office generates a very large amount of income from selling the mail forwarding database that it regularly updates. Every time you move and fill out one of those permanent change of address cards or mail forwarding forms at the Post Office, your new mailing address information is almost always immediately offered to prospective direct mail marketers for a price. I’ve tried contacting the post office to compel them to stop giving out my new addresses to companies – but it’s been a pretty futile gesture on my part.

One way to get around this is to submit a temporary change of address for a long period of time such as 6 months. Your new address information is not passed along to businesses for temporary moves, only permanent ones. If you are willing to manually contact all of the legitimate companies that you do business with or have accounts with to advise them of your new permanent address change, this is one way to prevent the Post Office from updating the junk mail marketers of your new location. Of course, make sure all of your friends, relatives, and bill collectors know of your new address.

For consumers who wish to forcibly stop the flood of sexually explicit mail to their residence, one way is to submit a USPS Form 1500 (Prohibitory Order Application), which notifies the senders to cease and desist their mailers to you. I have yet to hear of anyone using this powerful tool to stop an overly aggressive (but non-sexually based) bulk mailing company’s marketing attempts, but it certainly is another potential way to discourage junk mail companies from cluttering up your mailbox.

10) Opt For Electronic Statements, and Stop Receiving Paper Bills: It’s time for everyone to join the modern era and put an end to paper statements by banking online and accessing their monthly bills and statements via the Internet. Not only do paper statements generate an inordinate amount of trash and clutter, these paper based bills are yet another opportunity for businesses to send you more junk through the mail. Contact your banks, credit card issuers, insurance companies, and utility providers – and sign up for automatic debit payments and electronic billing as soon as possible. Along with the reduction in clutter and paper usage, you’ll also save a lot of money on stamps by going paperless.

List Of The Top Books About Money For Your Personal Finance Library

Burn those get rich quick books and ditch the late night infomercial gimmicks. Whatever you do -  don’t waste your money on useless junk. True personal finance knowledge is not something that can be acquired overnight, but is a lifelong marathon pursuit that requires the constant absorption of old (proven and established) and new (innovative and efficient) approaches to money management.

Embarking on what some refer to as a personal finance makeover requires an improved understanding of the basic mathematics and psychology behind income generation, responsible savings, and long term investing. But as previously indicated, there are no easy quick fixes to some of life’s complex financial woes. Such pursuits of a better way of life require a self motivated determination to become more financially educated and experienced through the testimonies and learned mistakes of others.

I have heard some commentators cite the declining popularity of newspapers as the reason why book reading is no longer a necessary and relevant activity in today’s technological age. However, I think this line of thought is seriously misguided. Reading books is important because the way that information is consumed through a book is different from the way it is received online. Unlike book reading where consumption is complete and systematical, online consumption is keyword search driven, prone to interruptions, and deprived of full and proper attention. The idea that you can fully understand the nuances of the world, let alone personal finance and proper money management, in small bite size chunks without extended periods of thought is foolish.

There Are Lots Of Great Books About Money But A Few Really Stand Out

When it comes to books, I select books the same way I pick my movies – by reading consumer reviews and getting a consensus opinion from the critics and experts. Admittedly, it’s not the most original or ingenious of methods, but thus far it’s worked well without fail as I have yet to purchase or borrow a personal finance book from the public library that I have not enjoyed or found somewhat interesting.

Coming up with a list of the best personal finance books about money was not easy. The topics they cover vary greatly and their writing styles appeal to different types of readers. Some are more suited for hardcore technical investors looking for statistical theory, while others are more geared towards single moms who just want to know how to pay off their ballooning credit card bills. Some of the authors and titles listed below may sound familiar but that’s because they’ve stood the test of time – and have become bestselling classics and literary blockbusters among avid personal finance consumers.

Remember, the list of books I have read and reviewed below are only the ones that have worked for me, as everyone’s specific needs and life stories are quite different. I own quite a few of them and each holds a special place in my personal finance library. Together, they offer everything a student of personal financial planning could want about saving money, investing in the stock market, debt management, and self motivation. You may notice that I left a few titles out. That’s because I found them either too tediously technical for the average reader or I found them too boring and coma-inducing to personally stomach. Certainly not all personal finance bestsellers are great reads, but I think the following list represent the top titles. All of the book titles listed below provide related links to Amazon.com where you can find more detailed book reviews from those who rate books for a living and by ordinary readers like yourselves.

Do you agree or disagree with my selections? How about sharing a few of your personal five star favorites not mentioned here, or perhaps even offering up some of the bad ones you’ve come across? I’m curious to know more!

List Of Highly Rated Bestselling Money Books That Will Change Your Personal Financial Life

1) The Total Money Makeover by Dave Ramsey – This book is absolutely essential for those who want to get started on the path to financial freedom. If you are up to your neck in credit card debt and struggling with pay check to paycheck living, this easy to read book by famed radio and TV talk show host Dave Ramsey was written for you. In this book, he talks about the importance of taking baby steps through his system of working hard, paying what you owe, and staying out of debt. Ramsey is an anti-credit preacher and is constantly imploring his readers to use cash for everything (while I don’t quite agree with his sentiments about credit card usage, I can certainly appreciate it on a practical level). If you are struggling with debt, you will want to take a look at the Dave Ramsey snowball debt payoff method. The snowball debt repayment method is not the most mathematically logical way to pay off debt, but it harnesses the power of human behavior and personal motivation to accomplish its debt free ends.

The book is sprinkled with many of Dave Ramsey’s own personal and devout Christian morals and practices, but even those who are not overtly religious can still appreciate his advice and recommendations such as adopting a “gazelle intensity” behavioral system to stay ahead of the financial game. The Total Money Makeover is very inspirational and not technical – definitely an easy read.

2) Your Money Or Your Life by Vicki Robin & Joe Dominguez – In this updated and revised version of a personal finance classic, the authors continue as champions of the simplicity movement. In Your Money Or Your Life, readers are implored to sit down and really re-evaluate the priorities in their lives, especially when it comes to their jobs and relationships. The book is a bit new age-ish but not controversial. It examines numerous financial truths about the interplay between life and money, encouraging readers to break out of the doomed cycle of forever trading time for money by pursuing passive income sources. If you are unhappy with your financial life and want to learn how you can break out of your current rut and live a more time efficient and value orientated life, this money book is a must read. It will change your perspective on money and life – and help you understand that it’s not just about working and buying more stuff (not exactly a shocker, but the authors really hammer the concept home).

3) The Millionaire Next Door by Thomas Stanley & William Danko – If you are a shopaholic or one who is obsessed with acquiring material possessions, the core message of this book will fly at you like a punch in the face (in a good way of course). The book is quite fascinating as it profiles and surveys the characteristics of very ordinary millionaires (you won’t find hip hop stars or athletes in this book). In their research of the lives and habits of everyday millionaires, the authors of Millionaire Next Door discovered that true millionaires don’t act, eat or even dress like millionaires, as most of them blend quite well into ordinary society due to the surprisingly frugal and cost effective lives that they live. Much of their wealth was developed by simple practices of living below their means and by making smart decisions with their money.

Other than the advice that it’s important to find the right high income producing job, you won’t find any information here on how to make money or increase your cash flow. The book is extremely pro-frugality and cites saving money and delayed gratification as the pinnacle keys to accumulating wealth. The book focuses a bit too strongly on the importance of frugality in my opinion, but the testimonies and stories on the need to vigilantly resist materialistic peer pressure and fight the urge to earn and spend are eye openers for anyone who’s ever wanted to become wealthy, financially free, and possibly even become a millionaire one day.

4) The Money Book For The Young, Fabulous, and Broke by Suze Orman – I highly recommend Suze Orman financial books for beginners. For those who don’t already do so, I also recommend watching the Suze Orman Show on CNBC every week (her show is actually more entertaining than Dave Ramsey’s show in my opinion). Some people criticize her for the way she berates her readers and viewers on the bad financial decisions they make, but I think I think it’s frequently well deserved. None of Suze Orman’s advice is ever ground breaking or particularly inspirational, but she does a great job of making difficult to understand subjects palatable for beginners and newbies to personal finance.

This particular book focuses almost exclusively on the financial needs and situations of young adults – addressing the needs of students and young adults in their 20’s and 30’s, struggling with credit card debt, credit reports, and student loans. However, with its emphasis on introductory financial topics, the book is also quite suitable for even older readers looking to dip their feet into personal finance. Click on the title link above for more Suze Orman books on a variety of introductory financial subjects, pre-chewed and presented for your reading pleasure.

5) The Bogleheads’ Guide to Investing by Larimore, Lindauer, & LeBoeuf - The title of the book – “Bogleheads” – refers to folks who admire John Bogle, founder of the world renown Vanguard mutual fund investment company. If you want to educate yourself on the most important fundamentals of stock investing, this book will deliver that to you. While not particularly earth shattering for personal finance veterans, the book’s lessons are must reads for those new to investing and those who are currently too scared to get started. The book’s main themes focuses on the investment advice and philosophies of legendary John Bogle and addresses the long term investment benefits of diversification, asset allocation, low cost and low fees, and index funds. I know the book’s subject matter sounds rather techy and dry, but the financial advice it offers up is excellent and the writing style is remarkably entertaining and easy to read – making it one of the most definitive but yet accessible personal finance books on investing out there.

6) The Automatic Millionaire by David Bach – As the title makes clear, the author is a big proponent of the need to automate one’s financial life. After reading this book, one of things I came away with is that there are really no secrets to becoming wealthy and no special get rich schemes that can get me there quicker. All that’s really required is a bit of money saving common sense, the ability to live within your means, and the understanding that you must “pay yourself first”. One of the most crucial and emphasized principles of Automatic Millionaire is the need to avoid the so-called “Latte Factor”. To have the ability to save up enough to make contributions towards a retirement plan or savings account, one must make the affirmative decision to stop racking up debt and reduce spending on day to day expenses such as on frivolous and wasteful items like coffees, lattes, and cigarettes. This book is highly recommended and a must read for those looking to start saving for the future and those interested in starting up a retirement account by opening a Roth or IRA. The advice David Bach offers is quite excellent and recommended for both beginners and seasoned personal finance readers looking for a refresher course.

7) Debt is Slavery by Michael Mihalik – The message of this poignantly titled book is exceedingly clear – money is a powerful and liberating tool, but it can also shackle you and bind you into a life of miserable servitude. The philosophies that author Michael Mihalik writes in this book are succinct and direct but all are designed to force you, the reader, into a call for action to gain control of your finances and get rid of the shackles of bad debt. In fact, one of the most interesting and somewhat controversial concepts in the book is the author’s distinction between good debt (loans that will produce value – college student loans or loans to start a business) and bad debt (loans such as credit card debt accrued to fund an unsustainable and unaffordable lifestyle).

If you want a personal finance book that will help you understand and respond to the terrible problem of consumer debt, turn to this easy to read book. Perhaps the next time you pull out that trusty credit card to make a purchase, you’ll be reminded of the mantra – “debt is slavery” (* insert loud thunder crack *).

8) The Joy of Simple Living by Jeff Davidson – This book is a perfect resource for someone like my mother. As I have griped in prior blog posts, my mom is a chronic lifelong hoarder and a person who seems to find more and improved ways to make her life more complex and difficult. For someone like that in your life (maybe that person is you), this nice yellow book contains over a thousand very actionable methods, broken down into specific topics, to simplify all aspects of life and home. Rather than merely share philosophies and theories of frugality and simplicity, The Joy of Simple Living offers specific tips and techniques on how we can all eliminate clutter, streamline our work habits, save money, organize our possessions, and ease our mind to eliminate stress. It’s a handy book.

9) The Only Investment Guide You’ll Ever Need by Andrew Tobias – When it comes to sound investment advice, some things never change. Andrew Tobias helps you navigate the convoluted world of treasury bills, municipal bonds, mutual funds, and Roth IRA accounts without making the subjects too dry or difficult to understand. The crux of his preachings encourages readers to save as much as possible, and put those savings into safe, no load, and diversified mutual funds for the long term. Don’t go around betting and speculating on individual stocks because all that will lead to is you losing your money.

I didn’t expect it to be, but the book was actually a pretty entertaining read, although sometimes Tobias’ witty writing style and jocular side commentaries had a tendency to cloud up the personal finance message intended. But overall, the book is an excellent introduction to the nuances of personal finance and does a great job of keeping the reader attentive and continuously interested.

10) Real Money By Jim Cramer – Straight from the crazy CNBC financial guru/lunatic who got famously hammered on the air by Jon Stewart – comes Real Money, by the emotional booya man himself – Jim Cramer. I know some say that Jim Cramer has lost all credibility in the eyes of serious investors due to his propensity and history of offering dubious advice, but the fact of the matter is that while he is definitely starting to attract a growing cadre of haters, he still attracts a very loyal investor following and knows a lot about the business. Honestly, individual stock picking isn’t for everyone, but if you’ve ever wanted to know more about the science and psychology behind this somewhat risky business, you might as well learn it from a very entertaining author on the subject.

The reality is that there is no one out there who has a perfect stock picking record and frankly, such an activity is really an educated crap shoot. But Jim Cramer’s Real Money and his other books are still fairly decent guide books chocked full of very good investing advice – tidbits such as, you shouldn’t risk your life savings in the stock market and most definitely not in any single stock. It’s one of the few books out there where you may just wind up loving and hating it at the same time. Try it for a spin.

11) The Richest Man in Babylon by George Clason – When I first started reading The Richest Man in Babylon, like many people, I was initially taken back by the compactness of the book and the weird story. But after having read it, I must say, I really enjoyed it. This book should be read by everyone from high school students to corporate executives alike – it’s that enlightening and all encompassing. Essentially the book contains a series of parables set in ancient Babylon. It teaches all the principles of basic personal finance and money management through the use of these classic life lessons. By reading the very entertaining stories, you gradually begin to see parallels in your life and gain a better understanding of how good and bad habits affect how one spends, lends, budgets, and invests money. This book was originally written in the 1920’s, but the fictional stories and life lessons imparted are still very relevant today.

12) The Wealthy Barber by David Chilton - If you enjoyed the preceding title, The Richest Man in Babylon, then you will definitely enjoy The Wealthy Barber as well. This book is written as a novel built around a central story plot set inside of a barber shop, with personal financial self help lessons sprinkled throughout. Some of the stories have characters engaging in discussions regarding important financial concepts such as proper saving habits, investing strategy, and tips on buying a house. The book offers the usual rehashed financial advice that other books offer, but with clear practical examples and in narrative form. If you are intimidated by traditional financial books about money, then this book’s conversational story book form will definitely appeal to you. It’s a great book about money and life for beginners to the subject.

13) The Intelligent Investor by Benjamin Graham & Jason Zweig – Praised by billionaire Warren Buffet as the best book on investing ever written, The Intelligent Investor by Benjamin Graham is that good. This current revised edition contains additional modern day commentary by author Jason Zweig who applies the classic principles to modern day relevance. If you are a speculative day trader looking for short term trading tips, look elsewhere. This book focuses exclusively on the fundamentals of long term value investing and the importance of buying undervalued stocks of great companies for the long term. This book offers a tremendous amount of investment wisdom but is rather dense and comprehensive. Some say it’s a bit technical, but I didn’t find that to be the case (but I’m pretty comfortable with occasional numbers).

14) What Color is Your Parachute? by Richard Bolles – Year after year, the author releases a new updated revised edition of this bible of sorts for job hunters and career change seekers, one that is always chocked full of new advice and resources. The current edition was clearly written with job loss sufferers of the current economic recession in mind as it contains plenty of advice on how to cope and save money in difficult times. This book is an excellent read for anybody who is actively searching for a job or contemplating a career change. The book services as a career guidance counselor that helps you discover your true aptitude, based on your skills, talents, and interest – to help you find a profession that maximizes your potential. The author’s writing style is very thorough and complete, and some people might be slightly turned off by the way he painstakingly hand holds the reader through every explanation in great obvious detail. But regardless, the Parachute series of self help books is a great resource and offers great advice on how to approach prospective employers, tackle interviews, and discover your true calling.

15) A Random Walk Down Wall Street by Burton Malkiel – Don’t be fooled. This best selling book is a must read for those who want to understand more about why it’s nearly impossible to beat the market and why following the advice of so-called stock picking gurus can be detrimental to your financial health. This book discusses the famed random walk theory and dives into the intricacies of behavioral finance, which studies the social psychology of investment decisions – with reviews and discussions of past historical stock market bubbles and investment crazes. The message of the book is clear – the market, while not perfectly efficient, is efficient enough to make it very difficult and extremely cost prohibitive to beat. At the end of the day, a savvy investor is better off holding an extremely broad basket of  all available market index funds for the long term than trying to seek out the undervalued stocks and hidden gems. This book will make you think twice the next time you blindly adhere to the financial tips that you glean from popular financial publications and financial quacks on TV. In most cases, picking individual stocks is really just a flip of the coin and a prayer. According to the author, these sources have absolutely zero predictive value in the success of individual stocks.

The book is somewhat more technical than some people might like, but I think the average reader can handle the basic charts, graphs, and ratios introduced in the text. The book is definitely not a short or quick read, but it will definitely make you think. I definitely recommend it.

16) The Complete Tightwad Gazette by Amy Dacyczyn - This book by Amy Dacyczyn, a self proclaimed “frugal zealot”, is the ultimate bible of frugality if there ever was one. Completely actionable, this detailed guidebook offers thousands of money saving ideas for everything imaginable, from the simple and common-sensical to the absolute extreme and borderline cheap. Unlike some of the other personal finance books that focus on intangible concepts and motivational philosophies, The Complete Tightwad Gazette is a step by step guide on how to save money in everything that you do in life. If you are already a thrifty guy or gal, this book will frankly blow you away in reverence. Her tips and advice on how to save money on food and household groceries are particularly useful in this current economy.

17) Rich Dad Poor Dad by Robert Kiyosaki – Almost everyone and their uncle who has ever been interested in personal finance or money has either read or heard about Rich Dad Poor Dad by motivational guru Robert Kiyosaki. In all of its controversial glory, it’s become quite a lightening rod for fans and critics alike. The book uses the story (the truth of this testimony is still up for debate) of two fathers, the author’s own dad, and his best friend’s father, each who dealt with money differently – to highlight the need for a new approach to achieve financial freedom and success in today’s climate.

Personally, after having read it a few times over the years, I continue to have mixed feelings about the book. It’s an admittedly motivational and rather fascinating read, but there are very few truly practical or actionable lessons in the book to take away. There is a call to action in the book, an urge to seek out higher income producing assets, but the author is rather light on specifics and makes such efforts sound too simplistic. One thing that readers must keep in mind is that the book was written during the whole real estate bubble and housing hype era. Much of the cash flow and passive income messages in the book center around Kiyosaki’s own successes in real estate purchases and sales during the booming era. Frankly, I have reservations whether those same sentiments are still entirely relevant in today’s depressed housing market. But despite its flaws, the book remains inspirational and a rather reluctant must read. Go read it and you’ll know what I mean.

18) How To Win Friends and Influence People by Dale Carnegie – The book was first published during the World War 2 era, but even today, it is still a dominant bestselling classic. Some things in life, particularly those that involve the interplay of human emotions and social interaction, remain timeless and forever relevant. Same species, different decade – know what I mean?

So why is this title included on a list of the best personal finance books you might ask? After all, this particular title is not directly related to the issue of money, fiscal responsibility, or investing. Well, I believe personal finance and the pursuit of financial freedom goes far behind just dollar signs and percentages. It also encompasses issues of psychology, life’s motivation, and emotional drive towards the pursuit of this ever elusive happiness. To acquire this happiness, the human and relationship elements are ever present. After all, financial success, as the author notes quite astutely, is mostly due to the “the ability to express ideas, to assume leadership, and to arouse enthusiasm among people.”

The book is filled with incredibly practical anecdotes that illustrate the best way to respond and maximize the relationship building opportunity in almost every situation. It doesn’t matter if you are a corporate tycoon, a church leader, or a college student on the rise, this book will guide you in your inevitable relationships and social objectives. The book is not exactly a thrilling page turner with exciting cliff hangers at every twist, but it’s an essential read for life long success.