Books to Read About Finance
Rich Dad Poor Dad by Robert T. Kiyosaki
In Rich Dad Poor Dad, Kiyosaki writes about his two dads -- his biological dad (poor dad) and his best friend’s dad (rich dad) -- and how both have shaped his thoughts about money and investing. The book talks about how while the poor and the middle-class work for money, the rich have money work for them. It’s not how much money you make that matters; it’s how much money you keep. Rich people acquire assets; the poor and middle class acquire liabilities that they think are assets. Financial aptitude is what you do with the money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you. The single most powerful asset we all have is our mind.
The Intelligent Investor by Benjamin Graham
The Intelligent Investor explains value investing, which is focused on generating steady, long-term profits by ignoring the current market and picking companies with high intrinsic value. Graham touches upon 3 lessons in his book; there are 3 principles to intelligent investing: analyze for the long term, protect yourself from losses, and don’t go for crazy profits; never trust the market, it can be very irrational in the short and medium-term; stick to a strict formula by which you make all your investments, and you’ll do fine.
I Will Teach You To Be Rich by Ramit Sethi
Ramit Sethi, a personal finance author, outlines a 6-week plan for living out your “rich life” as you want. I Will Teach You To Be Rich walks readers through how to use credit cards and maximize rewards, opening a high-yield saving account to earn interest, and even automating accounts to save with no effort every month. The book will teach you how to make a plan, strategize your money, and set up systems to build wealth.
The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life by JL Collins
Want to retire early? The Simple Path to Wealth provides accessible and actionable advice on investing to help you live out your best life. One of the highest ranked personal finance books, with over 800 Amazon reviews and an average rating of 4.8 stars, this book will surely lead you on the right path to retiring early.
Think and Grow Rich by Napoleon Hill
Think and Grow Rich is the result of Hill’s study of over 500 self-made millionaires and lists out 13 principles of how anyone can change how they think about money and become successful. Written just after the Great Depression, it still offers timeless and valuable advice. Focusing more on the mindset of building wealth, rather than the strategy and management of money itself, it incorporates lessons learned by some of the richest men of the late 19th and early 20th centuries.
Spend Well, Live Rich: How to Get What You Want with the Money You Have by Michelle Singletary
In Spend Well, Live Rich Michelle Singletary reflects on her life living with her grandmother who raised 5 children on a modest salary. Singletary looks into the principles her grandmother used with her finances to make the most of it. The book provides inspiration for personal finance beginners and teaches many basics of budgeting.
Your Money or Your Life by Vicki Robin
Your Money or Your Life is the core of financial independence, laying out a plan for you to reach that goal. Gives advice on practically every aspect of becoming financially independent, ranging from the mindset to the investment moves you should make. A must read if you want to retire early and want to set up a system to build wealth.
Broke Millennial by Erin Lowry
A favorite among millennials, Broke Millennial by Erin Lowry touches upon many of the challenges today’s young adults face. It’s a great starting point for millennials getting into personal finance, ranging from helping you check your credit score for the first time to eventually buying your first home.
Get A Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner
Similar to Broke Millennial, Get A Financial Life: Personal Finance in Your Twenties and Thirties is also targeted towards young adults. Focusing more on the basics, Beth Kobliner covers how to do your taxes to strategies for repaying debt, and gives a thorough foundation for anyone wanting to become financially free.
The Money Manual by Tonya B. Rapley
More on the interactive side, The Money Manual guides readers through the basics of managing money, ranging from saving to building credit. B. Rapley provides sections of questions and spaces for writing as well, providing actionable advice that can help you understand where you are, where you want to be, and how to get there.
Understanding personal finance plays such an important role in your life and reading books is one of the many ways you can explore it! Of course, there are many other fantastic books out there that can teach you personal finance, don’t feel limited to just these.
Written by Angel Tang