Welcome to Money Monday! This is a weekly column where we discuss all things finance. From budgeting and saving to responsible buying and investing, we will share knowledge and help you think about controlling your finances differently so that you can achieve your financial goals faster. This week we are sharing the best personal finance books. DISCLAIMER: Please note that this column does not replace professional financial advice and it is intended for information purposes only. I try to give most accurate information on personal finance, but it may not be the best course of action for you, therefore, I recommend that you consult a finance professional before making serious financial decisions.
Knowledge is power. Money is also power. But knowing what to do with is not necessarily intuitive and many of us simply don’t know where to start. But if you are even just thinking about starting a business, setting a savings goal or simply learning about investing, then check these books out.
Look after your financial health
Learn to budget with The Total Money Makeover by Dave Ramsey
“By now, you’ve heard all the nutty get-rich-quick schemes, the fiscal diet fads that leave you with a lot of kooky ideas but not a penny in your pocket. Hey, if you’re tired of the lies and sick of the false promises, take a look at this—it’s the simplest, most straightforward game plan for completely making over your money habits. And it’s based on results, not pie-in-the-sky fantasies. With The Total Money Makeover: Classic Edition, you’ll be able to:
- Design a sure-fire plan for paying off all debt—meaning cars, houses, everything
- Recognize the 10 most dangerous money myths (these will kill you)
- Secure a big, fat nest egg for emergencies and retirement!”
Also read Personal Finance That Doesn’t suck by Mindy Crary
“This is a personal finance book for people who don’t enjoy reading about personal finance (otherwise, you’d be reading something by Dave Ramsey or Suze Orman right now). Without all of the financial jargon and market speak, you’re looking for a simple understanding of how to make the best use of every dollar coming into and leaving your household—not only now, but also for the future.”
Set a goal and achieve it
Read The $1000 Project by Canna Campbell
“Financial planner Canna Campbell saved $32,000 in twelve months by using her unique strategy of ‘bundling’ – saving and earning extra money in small, achievable ‘parcels’ of $1000. Now she wants to empower you to get the same results!”
Become financially independent and learn to invest
Read Rich Dad Poor Dad by Robert T. Kiyosaki
“In Rich Dad Poor Dad, the #1 Personal Finance book of all time, Robert Kiyosaki shares the story of his two dad: his real father, whom he calls his ‘poor dad,’ and the father of his best friend, the man who became his mentor and his ‘rich dad.’ One man was well educated and an employee all his life, the other’s education was “street smarts” over traditional classroom education and he took the path of entrepreneurship…a road that led him to become one of the wealthiest men in Hawaii. Robert’s poor dad struggled financially all his life, and these two dads—these very different points of view of money, investing, and employment—shaped Robert’s thinking about money.”
Read the Richest Man in Babylon by George S. Clason
“George S. Clason’s The Richest Man in Babylon is an international best selling and now considered classic book on financial investment and fiscal success. Through a series of delightful short stories, straight from the heart of ancient Babylon, these economic tips and tools for financial success have withstood the test of time and are applicable still today. Here, Clason’s text is interpreted for the modern day world and offers you 52 simple – yet powerful – and proven techniques to manage your finances. Karen McCreadie’s interpretation of Clason’s work illustrates the timeless nature of his insights by bringing them to life through modern case studies. This brilliant interpretation of The Richest Man in Babylon is an entertaining accompaniment to one of the most famous books on personal finance ever written.”
BONUS: Before you start a business
Read Will it Fly by Pat Flynn
“Stop rushing into businesses born from half-baked ideas, misguided theories, and other forms of self-delusion. A lack of proper validation kills more businesses than anything else. As Joel Barker says, “Speed is only useful if you’re running in the right direction.” Will It Fly? will help you make sure you are clear for takeoff. It answers questions like:
-Does your business idea have merit?
-Will it succeed in the market you’re trying to serve, or will it just be a waste of time and resources?
-Is it a good idea for you?
-In other words, will it fly?”
What did you think of this weeks post? Let me know in the comments section bellow and don’t forget to subscribe to my blog for regular updates.