Do you have trouble managing your money? Do you spend more than you should? Do you feel that you are always reluctant about how you should spend your money? Then, you are in the right place. Just like you all, even we have limited knowledge about personal finance. We often find that saving money has never been our forte. Some people are particularly good at this but some are not. So, what can you do to hold your finances? Read more and enlighten yourself. The more you will read about personal finance, the more your brain will grow. You will know the value of a good investment and aspire to achieve milestones!
Reading books on personal finance might be your first step towards success. Let’s find out!
Rich Dad, Poor Dad by Robert T. Kiyosaki and Sharon Lechter
In his book, Rich Dad Poor Dad, Kiyosaki talks about his life experiences while growing up with two fathers. One is his biological dad and the other is the father of his best friend with whom he spent a significant amount of time. Both men had a varied view of the aspect of managing their finances. Since they both had their view of personal finance, it taught a young Kiyosaki a lot about money and investments. His friend’s father aka his rich dad faired well in life and prospered as compared to his dad.
Kiyosaki talks about the various things that he learned from his fathers. He believes in the course of action rather than words and he employs the same in his book. We learn through his experiences and actions which shaped him to be the person that he is now.
Your Money or Your Life by Vicki Robin
If you knew you were going to die next year, how would you like to spend your time? The author poses this question time and again in this book that establishes the concept of being fully satisfied with your life. If you are doing something that you don’t like and want to explore new things, nothing shall stop you. It tells you to invest your life energy into valuable things that you like.
It will make you look differently at managing your finances and saving money. You will be more conscious of your income and expenses. It will constantly remind you that you don’t need extra efforts to pave your way towards success. What matters is only financial independence. Your Money or Your Life is simply the most inspiring book you’ll read on personal finance.
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley
The Millionaire Next Door gives you a deep insight into the world of the wealthier sector of society. We often misunderstand that the rich earn high all the time. But what we fail to understand is that not all the people who earn more are wealthy. A lot of their money goes in their unexplainable expenses and they keep very less of it. What matters is how can you invest in saving as much money as possible!
The millionaires who value their money know where all their money goes from traveling expenses to the school fee of their children. A large proportion of their investment is in stocks. This book aims to tell you the seven factors that will make you rich. One of the best books on personal finance.
I Will Teach You to Be Rich by Ramit Sethi
Written by the personal finance expert Ramit Sethi, this book gives you a modern take on the subject of money-making and investments. Sethi gives you the most accurate advice on finance and provides a 6-week guide that will take you closer to your goals. It teaches you the value of the right investments that will help your money grow without much effort. This New York Times bestseller teaches you to save more, earn more, and live a wealthy life.
From clearing out your student loan to being able to maintain an expensive car or simply being able to buy things that you love without any worries, this book has it all covered for you. It will also help you keep a proper track of your expenses and in turn contribute to saving money.
You are A Badass at Making Money by Jen Sincero
Published in 2017, this book takes into account the personal experience of the author Jen Sincero. From being a woman who used to live in a garage and had no idea about saving money or hefty investments to being a sassy woman who travels the world in style, Sincero has come a long way. And all of this happened in a span of a few years. Her personal essays give you a glimpse of her success and ways and means to tackle your personal finance.
The book will help you discover what is holding you back from your success, grow your natural ability to become rich, and so on. Sincero is an epitome of inspiration herself and words of wisdom from her will truly motivate you.
The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey
Personal finance is not necessarily an interesting topic that can be taught in simple words and the readers can get the most out of it. Rather it should be made interesting by the author through his writing style so that it appeals to the readers. Dave Ramsey does that pretty well. This book is brutally honest and shows you the reality of personal finance. He tells you to make a few sacrifices today so that you have a better future tomorrow.
This book only provides you with old-age wisdom on saving money but it is effective in true sense. He also guides you to get out of your debt if you are already in one. The way he was able to do the same for himself and benefit from his finances will truly inspire you.
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach
If you are new to the world of finance and want to know the basics of saving money and investing in the future, then this book is for you. The Automatic Millionaire begins with the story of a couple, the husband being a low-level manager and the wife a beautician. Both have an extremely average income yet manage to own two houses, put their kids through college and enjoy a happy retired life.
Bach explains that you do not need a budget to get rich. Even you do not need to earn a lot to be able to be rich in the future. The book consists of valuable advice and inspirational thoughts to help you reach your goals. If you want more from life with your existing income, you need to read this.
The One-Page Financial Plan: A Simple Way to Be Smart About Your Money
If you have never read a book on personal finance before, you should read this once. This book is everything that you want. It answers all the anticipated questions that you have in your mind about finance and investments. According to Richards, a financial advisor himself, who is asked to advise extensively on the same says that a bad decision about money is not the end of everything but the fact that we are emotional beings who commit mistakes due to our influences.
He tells us to prioritize what we want from life and try our best to achieve it. Because Richards says that the stock market has nothing to to with your financial plans nor does the fact that your brother owns more than you. It all depends on what is important to you.
You Need A Budget by Jesse Mecham
In the book, You Need a Budget, Mecham talks about the need to prioritize financial goals and be prepared for any excess expense. He shares his budgeting system that lays emphasis on how to utilize what you have in and then think about how it can be invested in the future. It has separate sections for budgeting for couples and for their kids. All in all, it teaches its basics to everyone.
The writing is very simple and realistic. The budgeting system is highly flexible and can be followed by anyone who is even new to this field. After you have read this book, you will become more conscious about spending your money and focus more on saving it. You will sort out your priorities and hence, stay motivated to achieve what you truly want.
The Little Book of Common Sense Investing by John C. Bogle
Written by John Bogle, the founder of Vanguard and a veteran in the field of investing, this book covers all aspects and pieces of evidence that will show you the best strategy that can be employed while investing. Though using statistics and graphs to prove his point, this book never gets boring but certainly intrigues the readers. Every chapter ends with a note that has all the other investors agreeing with what Bogle has to say. Bogle, in turn, comes off as highly experienced and wise.
His best investment strategy is to hold onto all the publicly traded businesses at a low cost. If you are looking forward to the stock market as an investment, then this book is definitely for you. This book is not particularly for professionals but for anyone who is looking for a piece of basic knowledge about the stock market and bonds. It is not a detailed guide but it is the perfect book for beginners.
That sums up our list of best books on personal finance. If you have any more suggestions, feel free to drop a comment and let us know. If you have read any of the books in the list, be sure to share your valuable feedback.
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