Are you just starting out in understanding your relationship with money? We recommend this book for some tips and tricks on what you can do to start getting good with money.
The Financial Diet
The Financial Diet proclaims to be the personal finance book for people who don't care about personal finance. It's an approachable, illustrated guide for complete beginners on a journey to start understanding money. This book goes beyond budgeting and investment advice. Instead, it also tackles how to have hard conversations about money, how you can eat well without spending too much, and how to take care of your home. Interviews from real-life women who are successful in their fields in both conventional and unconventional ways are featured to give varying viewpoints as well. Note that this book is mainly aimed at women but the basic principles can be applied to anyone. This guide takes a holistic view of how we use money in our everyday lives and how to make the most of it while living the type of life you are comfortable in and proud of.
Main Takeaways
Spending, Budgeting, and Investing
Like any beginner friendly financial education book, this guide spends a few chapters getting into the basics of mindful spending, budgeting, and investing. With real-world examples and interview segments from people who are experts, this will give you a very digestible and accurate view into how to set yourself up for success. The biggest piece of advice here would be to educate yourself. Not just about what these things mean, but what they look like in relation to your own life. Take a look at where you are currently at, what your goals are, and how to realistically get there. Not everyone will have the same goals and even if you do, the path there likely looks different. Take stock of your finances and take action from there.
Money is Part of Your Relationships
We have all had a moment in our lives where we are standing in front of someone we love and we're confronted by a big, awkward moment that demands us to talk money. Whether it is a platonic or romantic relationship, if we are not prepared for it, it can hit hard. Depending on the relationship, this might be about differences in income in the present or the past, making expenses equitable, or feelings around money in general. The conversations in this guide all come down to one clear piece of advice: communicate. Be honest with yourself and come to terms with where you have been and where you are now and be honest with those around you. Talk about money is often still stigmatized and can feel uncomfortable but as you do it more, feelings of anxiety will lessen and your relationships will strengthen. Money is all around us and has a huge impact in our lives - having people to talk honestly about it will be freeing. Remember though, even if you are in a place where you can easily talk about your situation, not everyone will be, so make sure you are taking others' feelings into consideration for these conversations.
Give Yourself a Career Checkup
Your job is more than the money you make while doing it, but that is a large part of it. Giving a step-by-step guide on how to increase your compensation is just one portion of this chapter. This book also goes into interviews about how to dress for work and how it can impact both how others see you as well as how you see yourself and what it looks like to do a career checkup to determine not only if you are happy with your job, but if it is truly helping you in the long run. This book does a great job in reminding us all that your life outside of work is incredibly important and you need to have balance, but ultimately, your job is pretty dang important as well.
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Who We Suggest This Book For
Anyone who is starting out their money journey
If you have already read a book or two about personal finance, this book is likely not for you. This book is definitely for beginners, featuring advice on "how to take care of your house like a grown-up" and what it even means to invest. This is an easily digestible guide for those who are just starting out on their own.
Anyone who wants to change their money situation in a year
Looking for a practical guide on how to change your money situation in a year? This could be the book for you. What we like about this book is that it does not proclaim any quick fixes or miracle cures to your finances. It acknowledges that money is complicated and it may take a little while to be in a place where you feel good about what's in the bank. However, this book will give you actionable steps to take so that in the span of a year, you feel better about where you're at.
Author Information
Chelsea Fagan is a writer, home cook, and the founder of TFD. She is currently on the road from “absolutely terrible with money” to “pretty good with money,” and in the meantime, is probably panicking over an overcooked roast.
The Financial Diet, started in late 2014 as a personal blog by founder Chelsea Fagan to track her own budget, has since grown into a cross-platform media company and the premier digital destination for young women looking to talk about money. From their Manhattan offices, their team of eight women work every day leading the conversation around personal finance, and bringing together everything from expert advice on the complexities of financial planning to personal narratives from everyday women reclaiming their relationship with money, and how it intersects with every element of their lives.
Learn more about Chelsea Fagan and the Financial Diet team, here: https://thefinancialdiet.com/
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