Financial Wellbeing
FICTION
The Richest Man in Babylon (Novel) by George S. Clason
A collection of short stories rather than a traditional novel, the tales are interconnected by the common theme of financial wisdom and success. The book offers practical financial advice using parables set in the ancient city of Babylon.
Key Themes and Concepts:
1. Wealth Building PrinciplesThe book imparts timeless principles for building wealth and financial success. It presents these principles through engaging stories featuring characters facing various financial challenges.
2. Start thy purse to fattening
"Start thy purse to fattening" underscores the idea of consistently setting aside a portion of one's income for savings.
3. Multiply thy gold
The book advises readers to make their money work for them. This involves investing wisely and seeking opportunities to grow one's wealth over time.
4. Guard thy treasures from loss
The importance of protecting one's wealth and making informed financial decisions is stressed. This includes avoiding risky ventures and seeking the advice of knowledgeable individuals.
5. Make of thy dwelling a profitable investment
The book encourages individuals to view their homes as investments. This involves making smart decisions about where and how to live, considering the long-term financial implications.
6. Ensure a future income
Planning for the future is another key theme. The book discusses the importance of creating a reliable source of income for retirement or unexpected circumstances.
The book's enduring appeal lies in its ability to provide practical guidance on personal finance and wealth-building that is applicable in any era.
NON-FICTION
Your Money or Your Life (Non-fiction) by Vicki Robin and Joe Dominguez
The book explores the relationship between money and life, offering practical steps to transform your relationship with money and achieve financial independence. The book aims to help readers achieve financial independence and align their spending habits with their values and life goals.
The book promotes the concept of financial independence, which is defined as having enough savings and passive income to sustain one's desired lifestyle without the need for traditional employment. The authors outline steps for achieving financial independence by reducing expenses, increasing income, and investing wisely.
One of the central concepts in the book is the idea of viewing money as a representation of the time and energy expended to earn it. The authors encourage readers to evaluate their spending habits in terms of the "life energy" required to acquire the money used for purchases.
The book emphasizes the importance of tracking every expense and calculating the true cost of items in terms of hours worked. This practice helps individuals gain a clearer understanding of where their money is going and enables them to make more informed spending decisions.
Robin and Dominguez advocate for aligning spending with personal values and life goals. They encourage readers to distinguish between "fulfilment" expenses that contribute to well-being and happiness and "detracting" expenses that do not align with one's values.
The book also provides practical advice on saving money by reducing unnecessary expenses and investing in assets that generate passive income, such as stocks, bonds, and real estate. The authors stress the importance of building a financial cushion to achieve financial security and independence.
Your Money or Your Life has been praised for its holistic approach to personal finance and its emphasis on mindfulness, simplicity, and aligning financial choices with personal values. The book has had a significant impact on the personal finance genre and has inspired many readers to re-evaluate their relationship with money and pursue a path to greater financial freedom and fulfilment.
Broke Millennial: Stop Scraping By and Get Your Financial Life Together (Non-fiction) by Erin Lowry
Geared toward millennials, Broke Millennial covers a range of financial topics, making it an approachable guide to personal finance. The book is targeted primarily at millennials, offering practical advice and strategies to help them navigate the challenges of managing money, paying off debt, and building a solid financial foundation.
The book addresses the unique financial challenges faced by millennials, including student loan debt, the high cost of living, and the gig economy. Erin Lowry provides relatable insights and actionable advice tailored to the millennial generation. It emphasizes the importance of creating a budget and developing effective money management skills. Lowry provides practical tips on tracking expenses, setting financial goals, and building an emergency fund.
The book also tackles the issue of debt, especially student loan debt, which is a significant concern for many millennials. Lowry offers strategies for dealing with debt, including student loans and credit card debt, and provides guidance on developing a plan for repayment.
Erin Lowry introduces the basics of investing and demystifies the world of stocks, bonds, and retirement accounts. The book encourages millennials to start investing early and outlines various investment options suitable for different financial goals.
It also addresses the intersection of money and relationships, discussing how to navigate financial conversations with friends, family, and romantic partners. Lowry provides advice on how to manage joint finances and align financial goals within relationships.
Lastly it covers themes related to career development, including salary negotiation and navigating workplace dynamics. Lowry encourages readers to advocate for their financial well-being and provides tips for advancing in their careers.
Throughout the book, Lowry shares personal anecdotes and stories from others who have successfully tackled financial challenges. These real-life examples add relatability and offer practical insights into overcoming financial obstacles.
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A big hello and thank you for reading! Passionate about literature, psychology, and life I launched Book Therapy as an alternative form of therapy using the power of literature. I train mental health professionals, librarians, teachers as well as readers on using bibliotherapy in their own work through our online Bibliotherapy, Literature and Mental Health course. We also curate reading lists/personalised book prescriptions for clients based on their individual needs. This is our signature personalised reading service.
You can also check out Book Therapy’s other free reading lists and A- Z of book prescriptions (covering both fiction and non-fiction). These suggest books based on your existing life situation (e.g. anxiety, job change, relationship heartache) as well as interests (e.g memoir, historical fiction, non-fiction, crime etc). There’s also a Children’s A — Z of Book Prescriptions. Feel free to check out the blog for more literary gems. There’s also a post on my personal story of how I entered the world of bibliotherapy and book curation.
In this role, I have had the opportunity to publish two books called Bibliotherapy: The Healing Power of Reading and The Happiness Mindset, and write various literary essays and pieces for newspapers and magazines. I have undertaken bibliotherapy workshops for The United Nations, various libraries in New York and corporate organisations in the UK and US. My book recommendations have featured in the Guardian, Marie Claire, NBC News, Asian Voice, New York Observer, Sydney Telegraph and various other publications. If you are a parent you might enjoy a podcast I’ve recorded with speech and language therapist Sunita Shah on Raising A Reader & Storyteller. And if you’d like to connect, email me at bijal@booktherapy.io or www.booktherapy.io.
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