How will the current economic problems impact you and those close to you? Jeffrey A Trachtenberg of the Wall Street Journal provides some great insight as to which books should be part of your reading library during times of economic downturn.

TOP FIVE PERSONAL FINANCE TITLES

1. “The Total Money Makeover” by Dave Ramsey. A primer on how to cut debt, save money and create a financial strategy.
2. “Debt Cures ‘They’ Don’t Want You to Know About” by Kevin Trudeau. A look into the dangers of credit card spending and how to reduce your expenses.
3. “Women & Money: Owning the Power to Control Your Destiny” by Suze Orman. Ms. Orman writes about how women can gain better control of their finances by better understanding their relationship with money.
4. “The Money Book for the Young, Fabulous & Broke” by Suze Orman. A book on what the young need to know now about money management.
5. “The Smart Cookies’ Guide to Making More Dough” by the Smart Cookies with Jennifer Barrett. The book’s advice: Take charge and get out of debt.

TOP FIVE FINANCIAL CRISIS TITLES

1. “The Forgotten Man: A New History of the Great Depression” by Amity Shlaes. A look at what happened during that other crisis.
2. “The Partnership: The Making of Goldman Sachs” by Charles D. Ellis. An inside look at the famed investment-banking firm.
3. “Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism” by Kevin Phillips. Mr. Phillips documents the unraveling of the U.S. economy.
4. “The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means” by George Soros. An analysis of the issues behind the crisis and their implications.
5. “The World is Curved: Hidden Dangers to the Global Economy” by David M. Smick. An inside look at what went wrong with the banking system here and abroad.