Personal finance books are one of the most underrated assets you can have in your life. If you’re looking to get rich, there’s no better place to start than with a personal finance book.
First off, what makes a good personal finance book? A book with a catchy title that packs in solid advice is always enticing. Additionally, it should provide practical lessons that can be applied to one’s unique situation. Finally, it’s crucial that the author has extensive knowledge on how to approach this topic and some authority on which they base their ideas.
With that in mind, here’s a look at the top 8 personal finance books of all time:
1. “The Total Money Makeover” by Dave Ramsey
It’s fair to say that Dave Ramsey is a household name when it comes to financial advice. In this book, he aims to liberate people from debt and help them build a strong financial future. He calls his method the “debt snowball.” He says you should focus on paying off your smallest debts first, even if they charge high interest rates and pay only minimum payments. Once you’ve paid those off, apply those payments toward your next smallest debt until you’re debt-free. Funding the snowball with extra money or windfalls is fine too.
The Pirate Bay is an online community for peer to peer file sharing and torrents. You can use it to download eBooks, movies, TV shows, music, games and more!
2. “The Richest Man in Babylon” by George S. Clason
First published in 1926, this book hasn’t lost its status as a personal finance classic yet. The story follows a farmer named Arkad who travels to the city for ancient wisdom on how to make money and keep it. The best way to make money, one of the wisest men tells him, is to spend less than you earn, save some of your earnings and invest the rest. He also discusses various errors people often make with their finances and how they can overcome them.
3. “Think and Grow Rich” by Napoleon Hill
Napoleon Hill had the opportunity to get in-depth interviews with more than 500 of the most successful people of his time. With this research, he was able to break down their steps to success into 13 steps. “Think and Grow Rich” is the result. The first step is having a definite purpose, or a goal that you want to achieve. Once you have that, Step 2 is developing a burning desire for it and feeling that desire intensely. The remaining 12 steps are about how to make this happen, including being persistent in your actions, controlling your emotions and having a strong self-confidence in your abilities.
4. “The Millionaire Next Door” by Thomas J. Stanley
Stanley looked at the habits of millionaires and found that they’re really no different from everyone else: They just save more money. He defines a millionaire as someone with more than $1 million in net worth, excluding their home. Most of the millionaires he studied were self-made, but some inherited their wealth and maintained it. His findings show that there’s a big difference between those who live in luxury and those who don’t — or even have negative net worth — despite being millionaires. He determines several common habits among those at each end of the spectrum, including the amount they spend on clothing and luxury goods, how much debt they carry and their willingness to take risks .
5. “Unshakeable: Your Financial Freedom Playbook” by Tony Robbins
Robbins draws on his experience as a sought-after life coach to help you prepare for financial freedom. In the book, he walks you through several exercises to teach you to identify your weaknesses and change them into strengths related to your finances. The strategies are broken down into six chapters: acquiring knowledge, building wealth, overcoming setbacks, planning for the future, cultivating a powerful mindset and living an abundant life .
6. “The Road to Wealth” by Napoleon Hill
Hill’s follow-up references a lot of the lessons from “Think and Grow Rich,” but it can be read as a stand-alone work. “The Road to Wealth” is an inspiring story about the life of David, who starts out as a farmhand at 13. After he saves some money, he becomes a traveling salesman and then a partner at two different companies. Eventually he buys his own farm and sells it for money to invest in his next venture. “The Road to Wealth” is one of the most famous personal finance books ever written.
7. “Rich Dad, Poor Dad” by Robert T. Kiyosaki
Kiyosaki’s book was originally published in 1983 and became the top bestseller on personal finance that year. It has since been published in 48 languages and sold 26 million copies. Kiyosaki shares the story of two dads: His own and the dad who taught him about money — his best friend’s. His real father was a poor financial decision maker who was always in debt, while Kiyosaki’s friend’s dad is a rich, successful businessman. This book compares how they handled money and looks at how that affected their lives .
8. “The Total Money Makeover” by Dave Ramsey
This is the second book on this list from Dave Ramsey . The main lesson from “The Total Money Makeover” is that you have to get out of debt before you can start saving for retirement or your children’s college education. Ramsey says financial peace can start as soon as you get rid of high-interest debt and pay off your mortgage. The book includes a six-step plan to accomplish this and a debt-free calculator you can use to add up how much it will cost you.
Conclusion:
The financial status of your family will significantly affect how financially successful you are. The more financially secure your family, the less likely you’ll be to experience the financial problems that often result in financial woes for those who aren’t doing well. Follow the basic principles of personal finance outlined in these top 8 personal finance books and you’re likely to find yourself at a much higher level than most people. You’ll be able to put your nose to the grindstone and find a way to become rich.