One of the best ways to learn about anything is by reading. Everyone has a different approach to money and earning, spending, saving, budget, and investing. Books can be an excellent resource for anyone interested in learning more about personal finance and money management. But with so many books claiming to offer a revolutionary outlook on money, it can be hard to cut through all the noise and locate the best of the best. We’ve compiled a list of some of the most influential books that will change how you look at money, including a brief synopsis of what you can expect to find behind the cover and what lessons these books aim to teach.
10. The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life,by JL Collins
The Simple Path to Wealth is a book that evolved out of a series of lessons shared by a father with his daughter, specifically focusing on the power of money as a tool. In this book, Collins addresses real-life lessons, how to avoid making common mistakes, what you need to do to build wealth, and some of his own opinions and strategies for putting your money to good use. Collins’ writing style is light, digestible, and at times, humorous, making this an excellent choice for anyone who prefers to learn about money concepts rather than the underlying statistics.
Dave Ramsey is a well-known personal finance author and radio show host. In The Total Money Makeover, Ramsey debunks some common money myths and educates readers on how to effectively escape the stranglehold of debt and budget. Ramsey’s book culminates with what he calls the seven baby steps, starting with building an emergency fund and ending by building wealth and being generous.
Your Money or Your Life has mass appeal to people of all ages and income levels. This book explores the early and later stages of creating a financial plan, making it relevant to young professionals, those nearing retirement, and everyone in between. Your Money or Your Life also touches on some less conventional topics like money mindfulness, decluttering your life, and how to save money while being conscious of the environment.
7. The Money Manual: A Practical Money Guide to Help You Succeed on Your Financial Journey, by Tonya B. Rapley
The Money Manual is a book with the straightforward goal of helping you attain financial security. Readers of The Money Manual can expect a simple roadmap designed to help navigate debt, master financial basics, create and manage financial goals, and more.
6. The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich, by David Bach
David Bach, the bestselling financial author, motivational speaker, and television personality, shares some radical ideas that challenge the norms of personal finance. In a complete deviation from the conventional approach to money management, Bach asserts that you don’t need a budget, willpower, a lot of money, or even an interest in money to succeed financially. The Automatic Millionaire provides a system for anyone to thrive financially and shares the story of an ordinary American couple that manages to own two homes outright, build a nest egg, and retire early.
5. The Financial Diet: A Total Beginner’s Guide to Getting Good with Money, by Chelsea Fagan
Chelsea Fagan wrote The Financial Diet for people indifferent about personal finance. This book targets an audience experiencing a financial challenge, like living on an entry-level salary, overspending, or dealing with mounting debt. The Financial Diet is a partner for those without much interest or experience with personal finance, teaching readers how to get better with money in one year. In addition, Fagan writes about everyday experiences related to money, such as having awkward conversations about money with your friends.
George Clason takes readers back 4,000 years to the times of the Ancient Babylonians. Originally published in 1926, Clason uses a collection of parables from the Babylonians to impart financial wisdom and lessons to readers. Though times have certainly changed in the last century, Clason’s book remains a timeless classic, much like the lessons taught by the Babylonians. The Richest Man in Babylon is ideal for the individual who appreciates history and teachings packaged in a more entertaining, story-like format.
As the name implies, The Psychology of Money is a book that examines the importance of psychology when making financial decisions. Most financial management advice centers on collecting mathematical information and knowledge to inform smart financial decision-making. In a series of 19 short stories, Housel shares the unusual ways people think about money, helping readers to control their psyche better and understand more about their own financial choices.
2. Rich Dad Poor Dad, by Robert T. Kiyosaki
Rich Dad Poor Dad has consistently been one of the most popular personal finance books, selling over 40 million copies worldwide. This book is unique because it helps parents educate their children about money, an important lesson that’s often overlooked by many. Rich Dad Poor Dad is filled with various money lessons parents can share with their children and follow themselves.
Napoleon Hill’s 13 Steps to Riches contained within Think and Grow Rich is the byproduct of over 500 interviews with some of the most successful individuals in history, including Frank Winfield Woolworth, John Rockefeller, J.P. Morgan, and a triumvirate of United States presidents. A combination of thoughtful financial lessons, sound advice, and incredible accounts of enormous achievements, Think and Grow Rich is a captivating book that will leave you feeling inspired to think bigger and be more successful.
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