According to a survey conducted in 2022, 56% of Americans had bank savings of less than $1,000. It gets worse: More than half of those individuals don’t have enough cash on hand to pay for even a $1,000 cost. The funds would need to be borrowed. It’s not good. Not because “you should save money,” but rather because not having an emergency fund leaves you exposed. What happens if someone hits your car? What happens if a couple of bones break? Events beyond our control may compel us to make a payment. When it occurs, you do not want to be short. Some Personal Finance Books can be beneficial.
That’s simply the most compelling argument for why you need to become financially literate. Others include giving freely to friends, family, and charities, retiring peacefully without worrying about money, and having enough to invest in a new project. Money does make our lives simpler.
Some Must-Read Personal Finance Books
1. Rich Dad Poor Dad by Robert T. Kiyosaki
Although one of the top Personal Finance Books is divisive, it simply works when it comes to motivating you to take action. It is primarily based on the life of Kiyosaki, who discovered two distinct approaches to managing money—one from his father and the other from his closest friend.
The lectures cover a variety of topics, including how to see money as a concept, the fundamentals of accounting, investing, and budgeting, and how to manage your money to suit your needs. You’ll appreciate putting the advice into practice by the time you finish reading the novel.
2. The Total Money Makeover by Dave Ramsey
In the self-help book The Total Money Makeover, several real-life examples of individuals who took Dave’s baby steps and saw results are provided. This is one of the greatest books about money, full of inspirational advice, ideas, and proposals.
Lack of motivation and assistance to make the necessary lifestyle changes is one of the biggest obstacles to gaining total financial control. One of the best books on personal finance is this one, which may help you see your objectives and the benefits of reaching them from a new perspective.
3. Money: Master The Game by Tony Robbins
For ten years, Tony Robbins conducted research for this one of the Best Finance Books. Following the 2008 financial crisis, he decided to assist regular people in securing a bright future. He assembled the most remarkable techniques of the wealthy financial titans he interviewed, including Jack Bogle, Ray Dalio, and Warren Buffett.
Everything from money management advice to mentality adjustments to asset allocation is covered in the book. The interview transcripts alone are worth the cost of the book.
4. Why Didn’t They Teach Me This in School? by Cary Siegel
If you ask someone what they wish they had studied more in school, most people would say money. Specifically, “Why Didn’t They Teach Me This in School?” by Cary Siegel addresses how to manage money well.
The book is divided into eight money lessons and 99 concepts that you should have learned in high school or college but didn’t by former business leader Siegel. When he discovered his five children hadn’t learned basic personal finance concepts before joining the workforce, he wrote this book with them in mind.
However, it turned out to be a highly acclaimed book packed with financial lessons, first-hand knowledge, and guidance from Siegel. For recent graduates or anybody wishing to get off to a good start with personal finance, this book is a great starting point since it is simple to read.
5. The Barefoot Investor by Scott Pape
The most reputable personal finance specialist in Australia is Scott Pape. He has sold over a million copies of his Best Personal Finance Books.
Pape was raised on a farm, but he dreamed of becoming wealthy via stock trading. That was unsuccessful. Returning to his farm, he now exploits the modest existence as a financial management parable.
In three stages, the book walks you through taking charge: planting, growing, and harvesting your money. He mixes radical advice with practical guidance. This is an excellent book for novices.
6. The Richest Man in Babylon by George Clason
Soldier, businessman, and author George S. Clason made a wise choice in 1926 when he released this book. Rather than offering uninteresting and untrustworthy counsel, he encapsulated his teachings in tales from the Babylonians.
They gave George the ability to impart these teachings to the rest of us, and they are generally seen to be amazing people. The advice is as valid now as it was then.
7. Art of Handling Money and Investments by Rajiv K. Tayal
The comprehensive and practical manual “The Art of Handling Money and Investments” equips readers with the information and abilities necessary to negotiate the realm of personal finance successfully.
Written by seasoned financial specialists, this book provides a step-by-step guide for managing your money, choosing wisely when to invest, and achieving your long-term financial objectives.
The book offers a healthy viewpoint on money and teaches readers how to manage it sensibly and responsibly without becoming fixated on it. The strategies presented here are easy to understand and implement for the average investor.
The goal of investing is to create money and, in the end, the kind of freedom that we all strive for sufficient financial stability. Therefore, the path to financial independence is via financial freedom; in order to achieve financial freedom, you must have complete control over your finances.
8. The Millionaire Fastlane by MJ DeMarco
This one of the best Personal Finance Books has the most deceptive title ever. It’s not at all a get-rich-quick plan. Instead, it’s a tale of tenacity, audacity, taking chances, and nonconformity.
When MJ DeMarco was a youngster, he saw a guy driving a Lamborghini and knew he wanted to be wealthy, but he didn’t want to work as an enslaved person for forty years to get it. He started, sold, and then bought back his own business before retiring at age 33, having amassed millions of dollars. A motivating book!
Final Note
Whether you’re overcoming an unfortunate turn of circumstances, harbouring terrible financial habits from your past, or you’re not very good at arithmetic, these Personal Finance Books will help you gain more financial breathing space in your life.
You’ll be well on your way to financial independence if you increase your financial literacy, cut down on your expenses, and begin saving and investing. The most crucial thing to remember while taking charge of your money is to get started right away.
FAQs
Q: Can I have Personal Finance Books in PDF format?
A: Most of these books are available in e-book format.
Q: Our local store doesn’t have these books; what to do?
A: You can try a library or online store. If you request your local store, they might get one for you.
Q: Can these books help me be rich like Elon Mask?
A: These books are about handling personal finances. If you want to be like Elon Mask, you need to read books about entrepreneurship.
