What to read and watch for better money management
Add these gems to your list to help get your finances under control
By Melissa on May 7, 2020
Given that we've been stuck indoors for a while now due to Covid-19, we've probably caught up on our favourite series by now. Some of us may have even finished reading a book or two during this time! Now, you may be looking for some new suggested material. So instead of watching the next recommended mindless movie on your favourite streaming platform, why not learn something while you’re at it? We’ve gathered some fantastic reads, movies and docuseries to watch that’ll teach you about good financial practices.
Book: Why didn’t they teach me this in school?
In this page-turner, author Cary Siegel shares 99 personal money management principles that everyone should live by, presented in eight broad lessons. The book covers everything from life lessons and tips on spending, budgeting and saving, managing debt and credit, investing and more. It’s an easy read for anyone looking for straightforward and clear advice on how to get their personal finances on track.
The popular HBO documentary miniseries takes a look at the real FBI fraud investigation into the McDonald's Monopoly game scam that occurred between 1989 and 2001. It’s a fascinating show about how a man named Jerry Jacobson managed to swindle $24 million from the fast-food giant! So aside from the obvious lesson of not stealing and committing fraud, what’s the other money takeaway from this? Well, the series also follows the different stories of people involved in the scheme, one of whom is Gloria Brown — a woman who ended up remortgaging her home in order to pay a shady character to become part of the illicit activity! She became one of the million-dollar “winners” but didn’t take into account what she’d have left over after taxes and after paying the fraudster the percentage she owed him for the big win. Huge money mismanagement is an understatement.
Book: You Are a Badass at Making Money
If you’re looking for a fun read, this is it. This memoir takes a humorous angle on personal money management. It provides tips to nix certain bad financial habits and tricks to improve how you handle your funds all from the personal and candid experiences of Jen Sincero — a #1 New York Times bestselling author and success coach. Pick this book up today if you need a good chuckle.
Movie: Becoming Warren Buffet
Get inspired by the life story of one of the greatest investors in the world. In this HBO film, you’ll meet a young boy from Omaha, Nebraska, and learn how he ended up becoming one of the richest people on the planet. Be sure to have pen and paper handy though as Buffet shares nuggets of wisdom in this documentary. You’ll learn the secrets to his massive success, investing — even how he chooses his breakfast sandwich at McDonald’s every morning (hint: it all depends on how the stock market is doing).
Book: The Total Money Makeover
Interested in building your emergency fund? Five-time New York Times bestseller and finance coach Dave Ramsey explains how. In his book, you’ll also learn about useful money habits, the 10 most dangerous money myths to watch out for, and how to pay off your debt and retire comfortably. It’s never too late to start learning and saving for the future — or the next pandemic!
Movie: The Founder
This entertaining biographical film tells the story of how McDonald’s was born and the McDonald brothers who founded the worldwide famous fries and burger joint. It also follows the story of fast-food tycoon, businessman and visionary Ray Kroc, who took McDonald’s and expanded the restaurant, turning it into what it is today — an iconic global franchise. While we don’t want to give away any spoilers in case you haven’t seen the movie, the biggest lesson you’ll take away from this comedy-drama is to always get everything in writing — especially if it involves money!
Book: Your Money or Your Life
This book claims to transform your relationship with money and achieve financial independence in just nine simple steps. Why not give it a go? This is also an excellent read for those who want to cut back or tend to overspend. The book will teach you to live frugally instead and how this can lead to a happier life!
Series: The Ascent of Money
To truly begin to understand money and how the economy and global markets work in the context of the modern world, you’ve got to know its history. Where did money come from? In this captivating documentary, Professor and author Niall Ferguson takes you through the evolution of money, bond markets, insurance and much more. It starts with the origin of credit and ends with understanding globalisation.
Book: The Millionaire Next Door
If you’ve dreamed of becoming a millionaire, this is just the book to motivate you! The authors explore the seven common traits found in millionaires, most of whom live shockingly frugal lives. It’s how the rich stay rich. The book will also teach you how to accumulate wealth without a high-profile job or degree.
Movie: Confessions of a Shopaholic
Don’t be fooled by the light-hearted wholesomeness of this romantic comedy — you’ll actually learn quite a bit about money and credit in this funny, easy-to-watch movie. The fictional film follows the life of writer Rebecca Bloomwood who drowns herself in credit card debt and ends up losing her job! She eventually lands on her feet and gets a job working at a savings magazine as a financial journalist (ironically).
Happy reading and watching!