The Best Financial Books
Read the best books first, or you may not have a chance to read them at all.
–Henry David Thoreau
Personal Finance Books:
In this post, I will review some of the most important personal finance books ever written. I believe that each one of these books has the potential to change your financial life. Many people want to achieve financial independence for their families or to leave a job they don’t enjoy. These books provide a blueprint to living beyond debt payments and worry. Each offers a straight forward approach that anyone can implement.
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The Best Financial Books
The Total Money Makeover by Dave Ramsey
The book has sold 5 Million Copies.
When you get serious about getting out of debt, this is a great book to read.
It’s the simplest, most straightforward game plan for completely making over your money habits. And it’s based on results.
Why it’s a great personal finance book: The book provides a game plan that’s worked for Millions of people to become financially free. Also, it’s really inspiring and motivational. I recommend it all the time.
WithThe Total Money Makeover you’ll beable 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. More info at Amazon.
Rich Dad, Poor Dad by Robert Kiyosaki
My Twitter followers chose Rich Dad as their favorite personal finance book. (Follow me on Twitter here.)
“In Rich Dad Poor Dad, the #1 Personal Finance book of all time, Robert Kiyosaki shares the story of his two dads:
- 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.”
Published in 1997, Robert Kiyosaki reflects on a mindset that many wealthy people adopt: Financial success isn’t just about saving money, it is about putting money to work to actively grow.
In the book, Kiyosaki compares the approaches his two father figures took toward earning and saving money. While both had successful careers, his father (the poor dad) “left bills to be paid,” while the father of his best friend (the rich dad) “died leaving tens of millions of dollars to his family, charities and his church,” Kiyosaki writes.
NFL Player, Ryan Broyles, formerly a wide receiver for the Detroit Lions, wrote that the book changed his outlook on money.
“The Poor Dad’s philosophy basically reinforced the way I already thought about money: “Make money to live, and save some along the way,” Broyles writes.
“But the Rich Dad’s lessons — making your money work for you by investing it and acquiring income-generating assets — made me realize that I needed to make changes in how I thought about money if I ever wanted to be that Rich Dad and not have to work for somebody else.” More on Rich Dad, Poor Dad at Amazon .
The Millionaire Next Door:
The Surprising Secrets of America’s Wealthy by Thomas J. Staley
This investment classic explores the seven traits necessary to become a Millionaire. I’m sure you’ve wondered, “What does it take to become a Millionaire?” This is an in depth exploration of the ordinary people who have achieved an extraordinary level of wealth and how they did it. Truly inspirational for those on a debt free journey. More about my debt free journey.
Why its a great personal finance book: Imagine being able to sit down with 50 millionaires who made their wealth from a normal job. And ask them how they did it. What were their habits? What was their mindset? That’s what this book is. How did you do it? If you want to be wealthy, this is the answer to most of your questions.
Notable Reviews of The Millionaire Next Door:
- The implication of The Millionaire Next Door...is that nearly anybody with a steady job can amass a tidy fortune. (Forbes)
- A nerve has been hit….[For] people who want to become wealthy. (USA Today)
- A primer for amassing wealth through frugality. (The Boston Globe)
- I love the book,The Millionaire Next Door. It talks about how it is a myth that most millionaires in America have inherited their money. The fact is, we have created such a great country over 250 years. We have actually found the way for poor people to go from nothing to huge wealth and to create a life-changing opportunity for their children and grandchildren. We celebrate it, write movies about it, and our libraries are full of books about it. There is nothing wrong with that. (Bernie Sanders) Read more about The Millionaire Next Door
The Richest Man in Babylon by George Clason
“The most inspiring guide to wealth ever written.”
“Countless readers have been helped by the famous “Babylonian parables,” hailed as the greatest of all inspirational works on the subject of debt, financial planning, and personal wealth. In language as simple as the Bible, these fascinating stories set you on a path to prosperity. Acclaimed as a modern-day classic, this celebrated bestseller offers an understanding of—and a solution to—your personal financial problems that will guide you through a lifetime.” More at Amazon.
Why it’s a great financial book: At some point in all of our lives we realize that we’re making money but our money never lasts. We have no control of our money. This book is about the conversation between fathers and sons (or daughters) about money. How to succeed financially. The principles are timeless. Our money problems are the same. The answers are straight forward and timeless. It is a great book. It costs about the price of a cup of coffee at Amazon.
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