Top 7 Must-Read Finance Books
Very few people are naturally good with money. For some, it comes easily. If you fall into that category, good for you! However, just know that the other 80 percent of us envy you. Only 24 percent of millennials demonstrate basic financial literacy, according to a study from the National Endowment for Financial Education. Dealing with money is incredibly scary especially when you have no idea what any of the fancy banker jargon means.
If you fall in the majority of people that don’t know anything about personal finance, don’t worry there is a way to fix it. Take note from the experts, believe it or not, Warren Buffet and Elon Musk once knew nothing about finance. That is until they started reading. And once they started they never stopped.
Educate yourself. After reading the right books, you will be talking about how you “perfectly navigated that reverse stock split” over dinner in no time. Here is a list of some great books to start with:
This is the best selling personal finance book of all time for good reason. Robert T. Kiyosaki grew up watching his two dads… his real father (his poor dad) and his friend's father (his rich dad). This is a personal memoir talking about how watching both men shaped his views on money.
Challenges the myth that you need a high income to be rich
Claims your house is not an asset
Tells parents why they can’t trust the school system to teach their children how to handle money
Redefines an asset and a liability
Teaches you what to teach your children about money
Purchase here: https://amzn.to/2mX7XI8
Talking about money isn’t easy for most people. That is probably why you are trying to find finance books to help you. The Automatic Millionaire is not one of those indecipherable finance books you have to have an MBA in finance to get through the jargon. At first the book almost reads like a fiction novel, telling the story of a couple with average incomes that are living comfortably with two mortgage-free homes and a nice retirement fund. David Bach provides exactly what the cover promises, “a one-step plan to live and finish rich”, and it doesn’t involve intense budgeting or a six-figure income either.
Purchase here: https://amzn.to/2LEkgIi
“Here’s the truth any millionaire under 35, including myself, will tell you: Millionaire wealth has NOTHING to do with the stock market, it has NOTHING to do with clipping coupons, and it has NOTHING to do with a great job and a 401(k)” This is the claim 31-year-old millionaire MJ DeMarco makes in his best selling book The Millionaire Fastlane. DeMarco wants you to forget extreme budgeting and get rich while you are young so you can enjoy life. If you are a young entrepreneur this is the book for you.
Purchase here: https://amzn.to/2v5mR3s
Benjamin Graham provides a completely different perspective to The Millionaire Fastlane. Graham believes wealth is all about saving and smart investing. Warren Buffet has gone on record claiming this book changed his life. Graham will teach you to battle your emotions and make sound investing decisions. Although it is a challenging read, it is worth your time. The Intelligent Investor is something anyone looking to dip their feet in the investing world must-read.
Purchase here: https://amzn.to/2Kdi84r
As the cover suggests, the purpose of this book is to transform your relationship with money. Written by Vicki Robin and Joe Dominguez, the book provides over 50 combined years of financial knowledge. Ask yourself these questions:
Do you have enough money?
Are you spending enough time with family and friends?
Do you come home from your job full of life?
Do you have time to participate in things you believe are worthwhile?
If you were laid off from your job, would you see it as an opportunity?
Are you satisfied with the contribution you have made to the world?
Are you at peace with money?
Does your job reflect your values?
Do you have enough savings to see you through six months of normal living expenses?
Is your life whole? Do all the pieces — your job, your expenditures, your relationships, your values — fit together?
According to yourmoneyoryourlife.com, If you answered, ‘no’ to even one of these questions, this is a must-read. “It can really change your life” -Oprah
Purchase here: https://amzn.to/2AqyUO1
Wealth isn’t about how much you earn, it is about how much you keep. This is the idea behind George S. Clason’s The Richest Man in Babylon. It tells the tales of merchants, tradesmen, and herdsmen, through which, you learn how to get out of debt, use your money, and protect your wealth. This is a classic of personal financial literature and something you must add to your library.
Purchase here: https://amzn.to/2M8sHHK
Thomas J. Stanley and William D. Danko point out that most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door. This book claims that anyone with even a low paying steady job can be wealthy. This book operates off of the principle, look after your pennies, and the dollars will look after themselves.
Purchase here: https://amzn.to/2LS3OmQ
Good luck on your personal finance journey!