Happy Holidays! December is a great time of year and I personally love the holidays. We celebrate Christmas in the YoungMoneyFinance household and one of my favorite things to do is get gifts for loved ones, whether friends or family. In the spirit of giving, and to help get your creative juices turning, I thought I’d share a few of my personal finance favorites when it comes to gifts. I know that people can be tough to buy for, so hopefully me sharing a few of my favorites will be of assistance to you! Below is a listing of ideas that I would consider giving, whether they be a fan of personal finance, or in need of some personal finance advice!

Books

I love a good book, and although I prefer to read on my Kindle App (on my phone/iPad), a paperback is always a good read. Here are a few of the books I’ve read this year, or ones that I would recommend for those trying to learn more about improving their finances! 

The Total Money Makeover – it’s tough to get more into stocks/investing if you first don’t have the basics down pat. I remember listening to the Dave Ramey Show every afternoon with my Dad in the summer when we’d come home from work (our commute was an hour, so plenty of time to listen) and I learned a ton about the basics of personal finance; having an emergency fund, spending less than you make, investing in index funds and I would probably credit Dave Ramey as one of my inspirations for this blog. Although I disagree with him on some things (i.e. credit card), he’s right on a lot of things. The TOTAL MONEY MAKEOVER is a great read for those in your life needing a good foundation and help getting their finances on track. Although they offer classes throughout the country to read the book in a group, the book is a great read on its own. Super practice advice for getting your finances in order. Recommended audience: Financial beginners needing a crash course. 

Get Rich Carefully– I first got into Jim Cramer as a way to pass the time at work, I’d listen to a replay of his show Mad Money every morning, in an attempt to educate myself on the stock market. I’ve learned a ton, and although I don’t listen everyday (a little busier at work now) I’m still a fan. One of the things I really like about him is the fact that he tells you to first get your financial house in order (emergency fund, save, invest in index fund) before investing “mad money” (i.e. extra fun money) in the stock market. I read his book, GET RICH CAREFULLY a few years ago and learned a lot about how to be smart with my mad money and be a smarter investor. Recommended audience:Someone who understands the basics of personal finance and is looking to get more into stock trading. 

Investing Quick Start Guide– Learning about this book came by way of a reader, and I enjoyed the book. I find a lot of financial books I read are more hypothetical and don’t end up being that helpful, but found this book to be much more practical and offered real advice. What was better and what I loved about it, is that even a seasoned personal finance blogger like me was able to learn stuff from it. Managing your finances is a beast and there’s always more to learn! If I was able to learn something from it, I think you should be able to! It’s full of real life examples, charts and graphs that keep it interesting. Recommended audience: Similar to Get Rich Carefully, but a little more practical and less reflective (Get Rich Carefully) has more examples from Jim Cramer’s own life, which is definitely interesting and helpful!) 

Intelligent Investor– Probably one of the coolest books I’ve read on investing and helped me learn a ton. It’s sort of the holy grail of investing books, written by Benjamin Graham, who was the inspiration to Warren Buffet, arguably the greatest investor of all time. Sure I’m a bit of a fan boy of Buffet’s and would love in some small way to emulate his success. I figured that I could learn from the master’s master and glean valuable pieces of insight. What I love about the book is that despite written in 1949, the rules and guidelines still hold true today! Recommended audience: A personal finance black belt who is looking to nerd out a little and learn from the best. 

The Book on Rental Property Investing– Finally, a fun read (ok maybe I should re-evaluate my fun reads) on buying a house with the goal of renting it out. Mrs. Money and I have long considered getting into the real estate market by renting houses. In true YMF form, I did tons of research and took my sweet time. This book was given to me last Christmas and I found it super helpful and practical! Q4 2018 update: Mrs. Money and I have bought a new house and kept our old one, we’re currently in the process of trying to rent it out. Stay tuned with our story! Recommended audience: Those (young professional or others!) looking to explore the idea of buying property to rent out. 

Guides

If you’re anything like me, doing quality research on a topic; whether it’s a restaurant recommendation, learning about my next vacation spot, or even comparing the specs on a new electronic gadget I’m looking at, we live in a world of information overload. Searching for a topic “how to invest in stocks” would yield hundreds of articles/websites, some of which will be of questionable content in the sense that they may just be an advertisement for some sleazy service or just plain wrong. Although I’m no expert, I’ve learned a lot in my years since graduating college and entering the real world. I’ve: Changed Jobs, Bought a House, Have had my car stolen, am having a baby (well, Mrs. Money is), travelled and have saved/invested nearly 40% of my paycheck since I got my first job. I’ve attempted to compile that knowledge into helpful guides, in an effort to help others. Instead of being overwhelmed by an entire book, or sifting through articles that appear to help but in the end leave you more confused than you were before you started, I believe my guides to offer practical, easy to read and understand, step-by-step insights on how to overcome whatever financial challenge is getting in your way. From the store page, enter code “ymfguides” to get 50% off on your purchase (holiday sale through the end of the year). Recommended audience: Those facing specific financial challenges/questions and looking to improve their finances without having to read a whole book! 

Software/Tools/Others

Budgeting tool:

There are a lot of budgeting tools out there (YNAB, (You Need a Budget), Mint.com, or a good old fashioned Excel doc – get my template that I use for free HERE) and a lot of them are pretty good. The one I recommend (because it jives the closest with my budgeting philosophy) is Every Dollar (yes, it’s also from Dave Ramsey, but hey, he knows his stuff). His software/app is free to signup for and is free to use, but they offer a premium version for extra support. I love it because a) the free model actually makes you enter expenses yourself, which is great because it keeps you more committed and b) because it follows a method of accounting for every dollar every month which is what I follow. I think this model is great because you reconcile each month and know where every dollar (hence their name) is going.

Side Hustles:

I’ve always had side hustles, ever since I started working at age 15 and love the extra cash and the ability to try something new. Although I’ve not personally tried, I’ve had friends drive or Lyft/Uber with some good success. It’s an easy way to make some extra cash and as long as you understand the Pros/Cons of driving for them, it can be a good financial boost.

Investments:

I remember when I was younger my grandparents (or other older relatives) would gift me a US Savings Bond. This savings bond was guaranteed by the US Government and would mature to a higher value after a number of years. I also from time to time got Silver coins, which were cool but not all that practical. For today’s world, I’d recommend buying a stock/index/mutual fund as a gift. If the recipient already has a brokerage account, write them a check for the amount you want them to invest, and sit with them as you help them purchase said stock/fund. If they don’t have one, even better! Help them open one (Vanguard, eTrade and TD Ameritrade) offer great platforms and low costs and then fund their account with your gift. Not only are you helping them invest, you’re also teaching them how to! 

I hope that helps! Buying gifts can sometimes be hard so hopefully these recommendations spark some ideas for you! Happy Holidays and Merry Christmas from YMF. 

Disclosure: Some links are affiliate links that may earn me a commission. I am recommending these companies based on my research and/or experience and truly think you would benefit from them, regardless of any commission I may earn.