There may be plenty of sources available to know and learn about personal finance. But if you truly want to learn about personal finance to execute in your life and grow rich, you can’t ignore the old-fashioned method i.e., books. Though the overall information is almost the same on the internet and books, to get closer to the insights and real-world advice, you need to read some good books. Wondering what books to pick up to gain knowledge of how to secure your financial future and lead a luxury life? Well, Myvu has got you 10 best personal finance books to read no matter if you are a millennial or someone closer to retirement, these books are worth reading.
So, as said, reading good books is a good start to start planning about personal finance let’s start walking through the best you must read.
The Total Money Makeover
The Total Money Makeover: A Proven Plan for Financial Fitness written by Dave Ramsey is one of the best sellers. It was published in 2003 and as of 2017 more than 5 million copies were sold.
Dave cleary and step-by-step explained about how to manage your finances and clear off your debts. So, if you are someone who struggles with debts and unhealthy spending, you must read this book.
Also, the book changes your view about making money faster or quick fixes to your financial burden. Instead, it teaches you how to neatly and smartly manage your money and acquire financial freedom over time.
Millions of people read this epic and life-changing book and paid off their debts.
Overview of the book:
So, Dave talks about seven steps you should take to become wealthy.
- Start with saving a $1000 emergency fund as a beginner
- Pay off debt snowball
- Build a secure emergency fund
- Create a retirement fund
- Save money for your children’s college
- Clear off your home mortgage
- Spend, live and give away the extra penny
Rich Day Poor Dad
Rich Dad Poor Dad: What the Rich Dad Teach Their Kids About Money That the Poor and Middle Class Do Not! is an all-time best-selling book that reflects the importance of financial education and financial growth. This book was written by Robert Kiyosaki and Sharon Lechter and is published in 1997.
The book is all about experiences from his childhood seeing what a rich dad of his friend taught his son and what a poor dad, his own father who is not financially secured taught him. If you are a beginner, then it is easy to become a good reader with this book.
Over 32 million copies were sold after it became a New York Times bestseller.
This book is a great start for beginners.
The Millionaire Next Door
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy was written by Thomas J. Stanley and William D. Danko in 1996.
This book completely changes your way of thinking about how millionaires live. The authors researched and found out that there are a few millionaires who live in non-luxury communities which is a surprising fact. Thus they are saving a lot by eliminating the luxury expenses and material goods. The lesson you can learn is that always spend less than you earn. Because one who spends more than what he earns can never increase the net worth.
Overall this book is a great book that teaches you how to manage your money and spend wisely so that you can become rich faster. The book sold over 2.5 million copies.
Recommended for everyone especially, millennials and people who misunderstand being wealthy means leading a luxury lifestyle.
Your Money or Your Life
Your Money Or Your Life: 9 Steps to Transforming your Relationship with Money and Achieving Financial Independence was written by Vicki Robin and Joe Dominguez.
The book impacts readers’ mindset of how they treat money and their life. The best part you can take away from this book is how to live well within your means happily.
So, those who struggle with financial setbacks must read this book. As this book teaches you to achieve financial independence by changing your relationship with money, you will find it quite interesting and worth reading.
You are a Badass at Making Money
You are a Badass at Making Money: Master the Mindset of Wealth by Jen Sincero is the best book that changes your mindset about making money with a humorous approach.
This book walks you through great insights and effective tips to make money. Overall you can relate to obstacles in your personal finances.
The Automatic Millionaire
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach is a great book where David Bach provides you some insights to reach seven-figure status.
The book focusses on telling the power of saving at least a little every day to become rich. Also, the book quotes to pay yourself first, meaning for your dreams, and then automate your payments such as automatic investments, bill payments so that you can invest in a disciplined manner even if you are a little confused.
Read: How to make million dollars on an average salary
Broke Millennial
Broke Millenial: Stop Scraping By and Get Yout Financial Life Together written by Erin Lowry is a book for millennials to find their financial trackback. So, this book teaches you to take control of your money and life as well with the author’s savvy tips.
The author takes you through how to overcome money matters, debts, and become financially independent.
How to Retire Happy, Wild, and Free
How to Retire Happy, Wild, and Free: Retirement wisdom that you won’t get from your financial advisor was written by Ernie J. Zelinski, published on 1st March 2004.
This best-selling book lets you know how to happily retire with whatever you have earned so far. The book doesn’t talk about how to grow money or make millions for your retirement. Instead, it says how to achieve a happy, satisfying retirement.
So, if you are 30-somethings then consider reading this book so that you can plan for your retirement more seriously but retire happily.
Read: How much money do I need to retire
The Millionaire Fast Lane
The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime written by MJ Demarco is a good book to learn how to practically get rich faster.
In contrast to other books, the author explains how to create wealth faster in a short time and become a millionaire.
The Little Book of Common Sense Investing
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns was written by John C. Bogle, who is the founder of a topmost investment company, Vanguard. Bogle provides practical advice to save and grow your money through funds. So, if you are a beginner investor this book is worth reading.
Read: 10 best investing apps for beginner investors
Bottom Line
Making more money and becoming rich is not impossible, it is neither simple. It takes a lot of effort, patience, and perseverance. Reading good personal finance books is one of the effective ways you can achieve them and get rich. Moreover, reading books is a healthy way to learn more about money and finances. So, invest time for yourself every day, educate yourself with good financial books, and start your journey towards your financial goals. Also, get updated with the latest financial news so that you don’t follow the old rules and lose any.
