I can write a hundred articles on Personal Finance for you. I can create videos and write tweets too. But all of them combined can never teach you more than any good Personal Finance books. Why though? Let us understand the key difference between the two. I produce content as I learn and I produce it in bits & pieces. Say I write a few articles here, and create some videos elsewhere. I write one today & publish the next a week later.
While a well written book is like a one-stop destination for the answers you seek and the topics you need to encounter. A book is completed over a focused effort and time frame. But once its out there, you get everything at once. At one place, not in bits & pieces. Once you have a book in your hands, you need not wander anywhere else.
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Why to read Personal Finance Books?
Moreover, there is something different that hits while reading a physical book! You always learn better when you read out of a physical book. Your mind tends to retain more. In addition, I’m mentioning the books who’ve been the bestsellers. Especially the ones written by well-known & established finance experts.
By reading these personal finance books, you’ll learn the inside outs of personal finance. On top of that, you’ll get a taste of the authors’ own life experiences. Doesn’t matter if you are in school, college or you are a working professional. If you want to get your finances right and want to take better financial decisions, this article is for you.
Out of all the books that I’m mentioning in this article, if you only read one, your life will change. Actually, when you read & implement the learnings, your life will change. If, by any chance, you end up reading some or all of them, I can guarantee that your perspective towards everything will change. Not just money & finance, but everything!
So, hang on tight and follow along.
Personal Finance books you need to read right now!
“Your Money or Your Life” by Vicki Robin and Joe Dominguez
The first Personal Finance book on my list is Your Money or Your Life. You can call it as the full-guide on how achieve financial independence. This book not only tells you how to grow money, but also establishes a relationship. It amends a new perspective of money in your minds.
By the time you read this book, you’ll feel a sort-of different relationship with money. Carol Gosho is a certified financial advisor. He read this book and quotes –
“The book’s philosophy confirmed my conclusion that it is not our patriotic duty to consume and spend beyond our means but rather learn how to generate enough passive income to live the life we choose.”
“The Psychology of Money” by Morgan Housel
As the author depicts this book – Timeless lessons on Wealth, Greed, & Happiness. This book is not about how to earn money and manage it to the best extent. Rather, the author talks about how money behaves and how people behave with money.
The main motive of Morgan Housel, in this book, is to knock some sense of behaviour into us. Behaviour is something that can’t e easily knocked into someone. Yet this book does a great job. With full of examples of remarkable people & their psychology of money, you’ll learn a lot from this book.
You’ll find 19 stories about how different people and their strange thinking around money. The more you understand others’ thinking and behaviour, you get ideas of what is right & wrong.
Let’s Talk Money: You’ve Worked hard for It, Now Make It Work for You by Monika Halan
Monika Halan is one of the most famous and trusted faces in the Indian Personal Finance niche. She firmly believes in making your money work. Most of us focus on making money and we work hard for it. And amongst all this, we trade all our time & energy. We amass wealth but we never get the chance to enjoy life and use that wealth.
Hence in this book, she teaches us on how to make your money work for you. So that you can sit back, relax, and do whatever you’ve always wanted to do. She talks about being prepared for retirement, even if it is far-fetched.
Easy to understand, free of high-class jargons, this book is a boon for common people with little or no knowledge of finance. Especially, for the Indians. The scenarios and examples taken in account are more from Indian perspective.
Read this book, implement the learnings and I can guarantee you having millions by the time you retire.
Common Sense on Mutual Funds by John C. Bogle
Mutual funds are as much popular as stocks nowadays. More and more people are directing a portion of their savings to mutual funds.
And trust me, nobody knows this better than John C. Bogle. He is considered a pioneer in the field of Mutual Funds.
Thi book is written with the aim to work as a guide for people who wish to invest in funds. Throughout the book, Bogle shows how easy and reliable it can be investing in Mutual Funds. He shows that simplicity and trust take you to places!
If you are into mutual funds and recurring investments, this book can prove to be very beneficial.
Rich Dad Poor Dad by Robert Kiyosaki
I apologize for putting this masterpiece at number five. I did it on purpose! I mean, if I’d written about it at first, nobody would scroll this far.
I don’t know what to say about this timeless classic. Probably and unarguably the best book on finance one can read. If you haven’t heard about this book before, you need to fix the things you watch, read & listen. One advice – Read this book if you haven’t already, now. If you have, read it again.
In this book, the author talks about his two dads. One who is rich and the other who is poor. He puts forward the learnings and tells you the secrets that the rich keep to themselves. Robert, in this book, shares some secrets about money, how to get rich, etc. Definitely a must-read!
Why Didn’t They Teach Me This in School by Cary Siegel
If you have ever heard any person in finance or some millionaire, you know that schools never teach you about money. You can ask anyone about the things thy learned about finance in school. You’ll get Nada! Education system, all over the world, is just the way it is.
It is up to one-self to read and learn more to thrive better. Author Cary Siegel in this book explains all the lessons he learnt during his lifetime. He shares the things he learnt from life and wonders why schools don’t teach them. Schools, at the very best, get you ready for a job. You work, exchange your time and get money. We are never taught on how to make money other than job, how to grow and manage it, and how to invest.
We all learn these by ourselves and this book helps you doing that. A must-read!
Broke Millennial by Erin Lowry
The last book on our list is Broke Millennial. My personal Favourite! As the name suggests, this book focuses on Millennials. Erin Lowry shows in this book that how people in 20s can get their finances right. Managing student loans, creating emergency funds, and controlling finance when we are still young.
With consumerism, show-off culture, and FOMO spread all around the world, it’s hard to get back. The author takes everything in account and tells us the secrets to manage finance. What more could we ask for?
If you are in 20s and have started earning recently, this book is definitely the best for you! Get one now.
Conclusion: Personal Finance Books
Above mentioned were some of the best personal finance books. All the mentioned books are my personal favorites and have helped me a lot. I have written many informative and insightful articles for you people. If you wish to learn more about –
Follow me on Twitter and get any help you need – @sushrutkm