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A recent study found that 63% of Americans don't have enough money saved to cover six months of living expenses in case of an emergency, and over 2o% of UK citizens have less than £100 in their savings.
Fast Track Your Financial Knowledge
True financial freedom and security are only achieved with the right financial knowledge.
However, it is clear that most people don't know where to start. With so many finance books available, choosing which ones to read can be overwhelming.
That's why we've compiled a list of the 9 best finance books that cover a range of financial topics. Whether you're just starting to learn about personal finance or you're an experienced investor, these books can help you fast-track your financial knowledge and achieve your financial goals.
Invest in yourself, today.
The 9 Best Finance Books
1. 'The Psychology of Money' by Morgan Housel
"The secret to happiness is not in getting what you want, but in wanting what you have."
Why do we make the financial decisions we do?
In this insightful book, Housel explores the psychology behind our decisions and impulses when it comes to money, and how our personal experiences and beliefs shape our financial lives.
With captivating stories and astute analysis, 'The Psychology of Money' challenges traditional views of personal finance and offers a fresh perspective on how to approach money and wealth.
Key takeaway: Personal finance is not just about numbers; it's also about emotions, behaviour, and mindset.
2. 'Rich Dad Poor Dad' by Robert Kiyosaki
"The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant."
My personal favourite 'Rich Dad Poor Dad' is a classic in personal finance literature and completely shifted my perspective on money and how it should be used.
The book is based on the author's personal experience growing up with two dads, one who was financially successful and one who struggled financially. Through his two dads' different financial strategies,
Kiyosaki offers challenges traditional views of personal finance and encourages readers to think differently about managing finances and investing.
Key takeaway: Financial education and financial intelligence are essential for building wealth.
3. 'Think and Grow Rich' by Napoleon Hill
"Whatever the mind can conceive and believe, it can achieve."
Think and Grow Rich is a timeless classic that has helped millions of people achieve success in their personal and professional lives.
The book explores the mindset and strategies of successful people and offers 13 actionable habits and steps for achieving success in any area of life, including finance. Napoleon Hill encourages readers to think big, set clear goals, and take action to achieve those goals.
Key takeaway: Success starts with a positive mindset, concise targets, and persistent action.
4. 'The Millionaire Next Door' by Thomas J. Stanley and William D. Danko
"Whatever your income, always live below your means."
'The Millionaire Next Door' is a research-based book that explores the habits and traits of self-made millionaires. The book challenges the common perception of millionaires as flashy spenders and instead portrays them as frugal, hardworking, and disciplined.
Packed with practical advice and timeless knowledge, this book provides exactly what you need to achieve financial independence and build wealth.
Key takeaway: Building wealth is about disciplined saving, frugal living, and wise investing.
5. 'The Richest Man in Babylon' by George S. Clason
"A part of all you earn is yours to keep."
George S. Clason's classic in financial affairs has been inspiring readers for decades.
The book offers timeless lessons on personal finance through a series of parables set in ancient Babylon. 'The Richest Man in Babylon' teaches readers the importance of saving, investing, and living below their means.
The book is easy to read and offers practical advice that can be applied to any financial situation.
Key takeaway: The principles of personal finance are timeless, and anyone can apply them to achieve financial success.
6. 'Money: A User’s Guide' by Laura Whateley
"Knowledge is power when it comes to personal finance."
This practical guide to personal finance covers everything from budgeting and saving to investing and retirement planning. Laura Whateley's book dives into the complex world of personal finance and offers refreshingly simple advice for managing money effectively.
It is easy to read and offers practical tips and strategies for people just beginning, as well as those who are well on their way to financial competency.
Key takeaway: Personal finance can be overwhelming, but with the right knowledge and tools, anyone can manage their money effectively.
7. 'I Will Teach You to Be Rich' by Ramit Sethi
"I don't want to tell you what latte to buy. I want to teach you to get rich so you can buy all the lattes you want."
'I Will Teach You to Be Rich' does just that.
It includes actionable advice for millennials looking to build wealth and covers a range of topics, from budgeting and investing to building a side hustle.
The numerous strategies for managing money and building wealth in the modern age will take you well on your way to becoming a master of your personal finances.
Key takeaway: Building wealth requires a combination of smart money management, investing, and entrepreneurship.
8. 'The Intelligent Investor' by Benjamin Graham
"In the short run, the market is a voting machine but in the long run, it is a weighing machine."
'The Intelligent Investor' is a classic in investing literature that offers practical advice for long-term investing.
The book emphasizes the importance of value investing, which involves buying stocks at a discount to their intrinsic value, and offers timeless lessons on investing, and encourages investors to take a disciplined and patient approach to the stock market.
Key takeaway: Successful investing requires discipline, patience, and a long-term perspective.
9. 'Money: Master the Game' by Tony Robbins
"The only limit to your impact is your imagination and commitment."
'Money: Master the Game' is a comprehensive guide to personal finance and investing that covers a range of must-know topics when it comes to mastering your balance sheet and wealth.
The book features insights from some of the world's most successful investors and offers practical advice for managing money and building wealth.
Tony Robbins has packed decades of experience into an engaging and informative read with actionable steps that anyone can apply.
Key takeaway: Personal finance and investing can be complex, but with the right knowledge and strategies, anyone can achieve financial success.
Conclusion: How to make money
The 9 best finance books offer a range of insights and strategies for managing money and building wealth.
From the psychology of money to the habits of self-made millionaires, these books offer practical advice for achieving financial independence and security.
By incorporating the key takeaways from these books into your financial life, you can fast track your financial knowledge and achieve your financial goals.
Whether you're just starting to learn about personal finance or you're an experienced investor, these books are a valuable resource for anyone looking to improve their financial well-being.
FAQs
What finance book should I read?
'The Psychology of Money' by Morgan Housel, 'Rich Dad Poor Dad' by Robert Kiyosaki, 'The Richest Man in Babylon' by George S. Clason, 'Money: Master the Game' by Tony Robbins and 'Secrets of the Millionaire Mind' by T Harv Eker are all great finance books to overcome financial difficulties and master money management.
Can finance be self taught?
Yes, finance can be self-taught. There are many resources available, such as books, online courses, and tutorials, that can help individuals learn about finance and improve their financial literacy.
With dedication and discipline, it is possible to gain a solid understanding of finance and improve your personal financial management skills through self-education.
What are the 4 types of finance?
The four types of finance are personal finance, corporate finance, public finance, and international finance.
Personal finance is the management of an individual's financial resources
Corporate finance is concerned with the financial management of corporations.
Public finance is the management of public funds and government revenues.
International finance deals with financial transactions between countries.
Understanding these types of finance can help individuals and businesses make better financial decisions.
What is the first book I should read on investing?
A great first book to read on investing is 'Rich Dad Poor Dad' by Robert Kiyosaki, who challenges traditional views of personal finance and encourages readers to think differently about managing finances and investing.
The best book for you is a matter of personal preference and depends on your level of knowledge and investment goals, so some other popular books that are often recommended for beginners include "The Intelligent Investor" by Benjamin Graham, "The Little Book of Common Sense Investing" by John C. Bogle, and "A Random Walk Down Wall Street" by Burton Malkiel.
These books offer insights into the fundamentals of investing and provide practical guidance for developing an investment strategy. It's important to do your own research and find a book that resonates with your personal investment goals and values.
How do I start reading finance?
To start reading about finance, it's important to first define your specific interests and goals. Do you want to learn about personal finance, investing, or financial management for businesses? Once you've identified your focus, you can begin researching and selecting books that align with your interests.
Look for books that are highly rated, widely recommended, and written by experts in the field.
You can also consider starting with introductory books or online resources to build your knowledge and gradually progress to more advanced material. Ultimately, the key to success in reading about finance is to be patient, disciplined, and persistent in your pursuit of knowledge.
How do I learn to finance myself?
Learning to finance yourself involves improving your financial literacy and developing the skills and knowledge needed to manage your personal finances effectively.
One way to start is by setting financial goals, creating a budget, and tracking your expenses. You can also read books, take online courses, attend seminars, and work with a financial advisor to gain a better understanding of personal finance and investment strategies.
It's important to educate yourself about topics such as managing debt, saving for retirement, and investing in the stock market. With dedication and discipline, anyone can learn to finance themselves and achieve their financial goals.
How do I get full knowledge of finance?
Some key steps to getting full knowledge on finance include: reading books and articles on finance, taking online courses or attending in-person classes, studying financial statements, and working with experienced professionals in the field.
Additionally, it's important to stay up-to-date with the latest financial news and trends, and to have a strong understanding of various financial instruments and investment strategies. With consistent effort and a willingness to learn, anyone can gain a deep and well-rounded knowledge of finance.
What is the 50 30 20 rule?
The 50/30/20 rule is a popular budgeting guideline that suggests allocating 50% of your income to necessities, such as rent and utilities, 30% to discretionary spending, such as dining out and entertainment, and 20% to savings and debt repayment.
This approach to budgeting provides a simple and flexible framework for managing your finances and can help ensure that you're allocating your income in a way that aligns with your financial goals.
By using the 50/30/20 rule as a starting point, you can create a budget that works for you and adjust your spending as needed to achieve your financial objectives.
What is the 10 20 30 rule money?
This is where 30% of your finances go towards necessities such as rent, food, bills etc., 20% goes towards discretionary spending's like travelling and entertainment, and 10% towards contributory activities such as donations and charity.
By following the 10/20/30 rule, you can ensure that you're allocating your income in a way that aligns with your values and priorities, while also allowing for some flexibility in your spending.
What is the meaning of financial education?
Financial education is the process of learning about how to manage personal finances, including topics such as budgeting, saving, investing, and debt management. It is a critical component of financial literacy, which is the ability to understand and make informed decisions about money matters.
Financial education aims to teach individuals the knowledge and skills necessary to make smart financial decisions, avoid financial pitfalls, and achieve their financial goals.
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