List of Top 7 Books on Personal Finance
Once you have a quick read of the books available in the market you will be well prepared to handle your personal finances. Below is the list of such personal finance books –
- The Richest Man in Babylon ( Get this book )
- The Millionaire Next Door: The Surprising Secrets of America’s Wealthy ( Get this book )
- Real Money Answers for Every Woman: How to Win the Money Game With or Without a Man Paperback ( Get this book )
- Get a Financial Life: Personal Finance in Your Twenties and Thirties ( Get this book )
- Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence ( Get this book )
- Debt-Free by 30 ( Get this book )
- Thinking, Fast and Slow ( Get this book )
Let us discuss each of the Personal Finance books in detail along with its key takeaways and reviews.
#1 – The Richest Man in Babylon
by George S Clason
The weakling in Maths is sure to buckle under the pressure and be off to sleep at the mere name of reading a book on personal finance. To tackle the first and foremost problem of making someone read a book on personal finance, Clason cleverly handles the situation. He provides financial information and advice through the parable format. Now, who would not enjoy a story that is relatable to the daily experiences of each one’s life and is nicely coupled with advice to help us solve our problems?
Clason takes us through the financial knowledge through a maze of characters and the situations faced by them. The author plays with these situations carefully to unfold the different layers of financial principles, such as enjoying the benevolence of the Goddess of Luck and how to hold on to wealth and knowledge. He also cautions the readers to be wary of the fact that money can slip away if one doesn’t pay attention. Paying off credit and the importance of determination is also charted out in detail.
The Richest Man in Babylon has 7 basic principles:
1) Start thy purse to fattening
2) Control thy expenditures
3) Make thy gold multiply
4) Guard thy treasures against loss
5) Make of thy dwelling a profitable investment
6) Ensure a future income
7) Increase thy ability to earn
This is a classic and a must-read for those who are looking to achieve financial independence in their life.<< Get this book >>
#2 – The Millionaire Next Door
The Surprising Secrets of America’s Wealthy
by Thomas J. Stanley (Author), William D. Danko (Author)
Dreaming of becoming a millionaire and not a clue on how to go about it, Thomas J Stanley and William D Danko gives exact answers to your problem in the form of The Millionaire Next Door. A bestseller in 1998, the book expounds on the idea that the truly wealthy people are not the ones who occupy Beverly Hills or Park Avenue. The truly wealthy can be found living just across your street or next door.
This book does not cover a single pop star or athlete; instead, it completely concentrates on the plenty of wall-board manufacturers–particularly ones who take cheap, infrequent vacations! The authors, in a very straightforward fashion, made the readers see the mirror of truth. Stanley and Danko show that accumulation of wealth and its retainment by no means is an easy task. Wealth demands many sacrifices, discipline, and hard work, qualities that are positively discouraged by the high-consumption society.
The authors, in their extensive research, were surprised to find that the majority of the wealthy have acquired their wealth in one generation through their supreme confidence in their ability. The factors of wealth accumulation are common across all and seven traits, in particular, are common to all in this elite group. These traits are,
- Live well below your means
- Spend your time, energy, and money efficiently in ways that build wealth
- Believed that financial independence is more important than social status
- Their parents didn’t help.
- Their adult children are economically self-sufficient.
- They know how to pick market opportunities.
- They chose the right occupation.
So, read the books to put in some more common sense in your head about the finances.<< Get this book >>
#3 – Real Money Answers for Every Woman:
How to Win the Money Game With or Without a Man Paperback – January 19, 2016
by Patrice C. Washington
Women and money never stay in one line. The common idea, women are spendthrifts and well going by this ideology; I believe it’s high time we take a reality check with Patrice C Washington’s popular, award-winning, self-published guide which aids women to get out of debt, rebuild their credit, and ultimately fulfill their financial dreams.
4.9 (1,067 ratings) 250+ Courses | 40+ Projects | 1000+ Hours | Full Lifetime Access | Certificate of Completion
Patrice’s writing strikes a note immediately because it speaks of her trials and tribulations to maintain her finances while sinking fund in the well of debt at super speed. Patrice educated herself about finance, adopted a new attitude towards money, and, most importantly, adjusted her spending habits. Patrice’s life isn’t unique; her life is exactly what millions of women are living today. Burdened by several responsibilities, women have to stretch their hard-earned money to make ends meet.
Patrice’s book teaches women to take responsibility for their financial future and learn to cultivate wealthy habits. From managing credit cards, homeownership, student loans to affordable childcare and even negotiating for a higher salary, Patrice provides practical, easy to implement advice to establish an “opportunity fund,” and stop collecting STUFF that causes debt. The author urges the modern woman to discover the freedom that comes from feeling financially secure.
This book is a roadmap to prosperity and perhaps a new possibility to regain a secure financial future that will only reap the rewards.<< Get this book >>
#4 – Get a Financial Life
Personal Finance in Your Twenties and Thirties
by Beth Kobliner
The twenties and thirties is the time frame to take daring risks and challenges in your career, but when overburdened with financial woes, life expects you to make calculated, practical decisions that will reap quick benefits. It’s high time you get your financial problems straight and get a grip on where to start. Get this book to bust open the system and learn the tricks of becoming a master of your own money universe.
No matter what’s happening in the economy, pull up your socks and learn to do the following:
- Pay off your credit cards and student loans and live debt-free
- Start saving, even if you’re living paycheck to paycheck
- Take advantage of the latest tax rules and save a bundle
- Find smart investments while still supporting socially responsible companies
- Come up with a down payment and buy a home, even in a tough economy
- Afford grad school
- Protect yourself from identity theft
Kobliner’s advice is easy, and her writing style is extremely lucid. The information is organized beautifully, and each and every idea is very easily digestible by the wayward mind. Finances have been made a lot easier thanks to this book.<< Get this book >>
#5 – Your Money or Your Life:
9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
by Vicki Robin (Author), Joe Dominguez (Author), Monique Tilford (Author)
Most of us dream of gaining financial independence, owning a house, buying a swanky car, and speaking the truth, loaded with money. In times when all of us are just concerned about managing our money, let’s do a little soul searching for answers to these questions.
How to get out of debt and develop savings?
How to reorder material priorities and live well for less?
How to resolve inner conflicts between values and lifestyle?
How to save the planet while saving money?
The fundamental premise of this best personal finance book is quite strong in its concept as the book does not expect you to spend, but rather be conscious of what you are actually spending, which is literally your life energy.
What the book points out is that your REAL hourly wage is often much less than you think it is, and this perspective, when put into place, will stop you from buying frivolous things. So they chart out 9 steps to transform you, and they are:
- Making Peace with the Past;
- Being in the present – Tracking Your Life Energy;
- Where Is It All Going? (The Monthly Tabulation);
- Three Questions That Will Transform Your Life;
- Making Life Energy Visible;
- Valuing Your Life Energy – Minimizing Spending;
- Valuing Your Life Energy – Maximizing Income;
- Capital and the Crossover Point;
- Managing Your Finances.
If living life is what you are aiming for, then don’t fall into the money trap and buy this personal finance book.<< Get this book >>
#6 – Debt-Free by 30
by Jason Anthony and Karl Cluck
In the entire scenario of managing personal finances, the maximum weightage is applied to paying the debt. The maximum weightage is in terms of worry, stress, over-thinking, etc. The least done is planning, striking a balance, and curbing desires. If you are familiar with what I am saying, Debt Free is definitely a must-read book for you.
The book offers practical advice that’s as slick as it is solid for the young, broke, and upwardly mobile. The authors have handled the topics on the decisions of credit, health insurance, financing a car, banking, and spending money with a great deal of humour teamed with common sense.
Their practical advice appears less hurting due to their straight forward approach with which they motivate people to get rid of their debt. There is an abundance of excellent advice on handling bank fees, insurance issues, credit card debt, cutting down on entertainment expenses, etc., which apply to all ages. It is a great inspiration to get your finances and your life back in order.<< Get this book >>
#7 – Thinking, Fast and Slow
by Daniel Kahneman
This bestseller has received the winner of the National Academy of Sciences, Best Book Award in 2012. It has been selected by the New York Times Book Review as one of the best books of 2011 and A Globe and Mail Best Books of the Year 2011 Title. One of The Economist‘s 2011 Books of the Year Daniel Kahneman’s book has also been one of The Wall Street Journal‘s Best Nonfiction Books of the Year 2011. Thinking, Fast and Slow has also been a recipient of the 2013 Presidential Medal of Freedom. With so many awards in its bag, if you cannot be convinced to buy this book and read, we will definitely have to elaborate more.
This bestseller involves human psychology and its subsequent effect that has upon the way we think and act. Kahneman introduces two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of this thinking system affects corporate strategies and brings out the difficulties of predicting what will make us happy in the future. It also elaborates on the idea of the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation―each of these can be understood only by knowing how the two systems shape our judgments and decisions.
The author is extremely clear in his writing and puts things forward in such detail as not to swerve away from our own reasoning. There is gentleness in the tone, which appeals to the reader and brings out the self-help quality in his writings. He offers practical and enlightening insights into how choices are made in both our business and our personal lives―and how we can use different techniques to guard against the mental glitches that often get us into trouble. This book is sure to go down as a classic in the coming years for its groundbreaking research on human actions in managing finance.<< Get this book >>
Everything is set out before you, but you will have to make an effort to read some, so best of luck to you in your endeavor.
This has been a guide to Best Personal Finance Books. Here we discuss the list of top 7 books on personal finance to be well prepared to handle your finances. You may also be interested in the following recommended readings –
- Technical Analysis Books
- Venture Capital Books
- Equity Research Books
- 9 Best Entrepreneur Books of All Time
- Top 6 Best Benjamin Graham Books
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