Credit card debt. Student loans. Upside down mortgages. Car loans. This recession, which has caused rising debt, has savionaires reviewing ways to recover from being broke. Knowledge is the first step. Therefore, Savionaire recommends the following four books to help you gain the knowledge to stay on the path of a Recovering Brokoholic:
* Living Trusts for Everyone: Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle Estates (Allworth Press; Paperback; 148 pages; $14.95) by Ronald Farrington Sharp. Wills are for the masses. Living trusts are for savionaires. Sharp, a trust attorney, explains to you why trusts benefit you. Don’t even think about getting a trust without first reading this book.
* Save Big: Cut Your Top 5 Costs and Save Thousands (Wiley; Hardcover; 338 pages; $24.95) by Elizabeth Leamy. Good Morning America Consumer Correspondent Leamy has great tips on saving big on: houses, cars, healthcare, credit, and groceries. Did you know that you could bid for groceries at a grocery auction instead of buying them at the store and save up to 66%?
* Shoo, Jimmy Choo! The Modern Girl’s Gide to Spending Less and Saving More (Sterling Publishing; Paperback; 256 pages; $14.95) by Catey Hill. Men, are you tired of your significant other spending your money on the latest must-have pair of Jimmy Choos? Help her to get her spending and saving plans on track before you make plans of your own that don’t include her?
* A Purse of Your Own: An Easy Guide to Financial Security (Fireside Books; Paperback; 320 pages; $15) by Deborah Owens. Wealth Coach Owens gives you the principles you need to know to become financially fit in any economy, especially this one.
Thema’s Tip: If you want to use graphics to keep track of your finances, then check out The Wall Street Journal Guide to Information Graphics: The Dos and Don’ts of Presenting Data, Facts, and Figures (W.W. Norton & Co.; Hardcover; 160 pages; $29.95) by Dona M. Wong. You will be charting away in no time.