Some people manage their money like they were born with calculators in their hands. Others…not so much.
It’s why we see so many problems with credit card debt, loans and lack of retirement planning. In most cases the skills needed to fix things are very simple and can be picked up very quickly. The below books are a list that every everyone should read.
1. The Richest Man In Babylon
George S. Clason’s faux-biblical parables about acquiring wealth have inspired investors since the 1920s. Like most of the personal finance books that followed, The Richest Man In Babylon emphasizes saving over spending. However, the book also insists that charitable giving is equally as important, provided you don’t allow those two whom you give to become dependent upon your gifts.
2. I Will Teach You To Be Rich
In a friendly, naughty style, author Ramit Sethi put down a serious six-week personal finance program for those who want to master their finance management with minimum effort. This book is so comprehensive that you feel like you’ve been to a long seminar with an outstanding expert after reading it.
3. Rich Dad, Poor Dad
An eighth-grade dropout who spends less than he earns is smarter than a college professor who can’t make ends meet, according to Robert Kiyosaki. Furthermore, while working for a steady paycheck can get you started, your best investment of your time and money is to buy property or a business. Or better yet, do what Kiyosaki himself did and write a best selling book.
4. The 4-Hour Workweek
While I don’t agree with everything in this book, I still really like Tim Ferriss’ ability to share a vision — while encouraging you to create your own. The 4-Hour Workweek popularized the idea of “lifestyle design” and really helped me to see that I can arrange my life the way I want to, with a little help from some practical finances.
5. The Behavior Gap: Simple Ways to Stop Doing Dumb Things With Money
Carl Richards’ book gives realistic reasons behind the money mistakes people make and the bad habits they develop. Richards encourages readers to step away from their preconceived notions and keep their emotions in check when making
6. The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
David Bach’s The Automatic Millionaire starts with the powerful story of an average American couple – he’s a low-level manager, she’s a beautician – whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. Through their story you’ll learn the surprising fact that you cannot get rich with a budget! You have to have a plan to pay yourself first that is totally automatic, a plan that will automatically secure your future and pay for your present.
7. Secrets of a Stingy Scoundrel
One of the most enjoyable personal finance books I’ve every read is this one by Phil Villarreal. It goes through some items that you probably wouldn’t do to save money – and some that you might actually consider. A hilarious treatise on saving money by any means.
8. The Snowball: Warren Buffett and the Business of Life
While this book isn’t about personal finance specifically, it provides an astounding look into one of the greatest financial minds in business today. Alice Schroeder’s book offers an unprecedented view into Warren’s early life, and how some of the basics of money and personal finance have served to make him one of the wealthiest individuals on the planet.
9. Money: Master the Game
We now must move to more traditional personal finance books. The very best one on the market today is Money: Master the Game by Tony Robbins. Mr. Robbins is a motivator and his book might very well lead you to take action. He synthesizes information from top investors and draws a road map to help you succeed. He truly wants you to Master the Money Game and I applaud his effort.
10. Your Money: The Missing Manual
You know who J.D. Roth is. Now read his book about money. It’s a simple book, covering the basics of the money decisions you will have to make throughout your life, and helping you establish firm financial footing.
What other books should have been on this list. Leave a comment!