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Everybody wants to make money but not everybody is willing to put in the work. People prefer entertainment over education. But education, more specifically financial education is the foundation for your financial success and freedom in life.
There are people who have made millions and billions starting from zero. There are people who have 100X their wealth. And, there are people who have lost millions of dollars they once had.
All of this is either due to financial education or lack of financial education. In this post, I have made a list of 15+ best books of all time on money management and personal finance. You don’t need to read all of these books. But, If you read only a few of them and apply what you learn in your life, you’ll be on your way to financial freedom very soon.
Here is a list of the must-read books on money management and personal finance. They are not presented in any order. So, you can read the book that lures you most.
Rich Dad, Poor Dad
Rich dad, poor dad is one of the best books on personal finance and wealth management. This book tells you the story of a boy with two fathers, one rich, one poor. help you develop the mindset and financial knowledge you need to build a life of wealth and freedom. You can start from zero and still be rich if you have proper financial education.
This book ain’t just about money, it teaches much more than that. You’ll learn how to think, you’ll be aware of how you are programmed by the schools, colleges, societies and other people around you.
The Richest Man in Babylon
The richest man in Babylon is a classic book on wealth written by George S. Clason. It reveals all the secret that there are to building wealth. The story in this book is based on the ancient Babylon.
The fascinating stories of Babylon will set you up on a path to prosperity. It offers an understanding and solution to all of your personal financial problems.
The Millionaire Next Door
The millionaire next door is another book on personal finance and wealth. It was written Thomas J. Stanley, William D. Danko by obsessively researching and studying the wealthiest people.
This book shows you simple spending and saving habits that lead to more cash in the bank than most people earn in their life while helping you avoid critical mistakes on your way to financial independence.
The Millionaire Fast Lane
Written by M.J DeMarco, the millionaire fast lane: crack the code to wealth and live rich for lifetime is another best writing on Personal finance. Through this book, the author pointsout what’s wrong with the old get a degree, get a job, work hard, retire rich model, defines wealth in a new way, and shows you the path to retiring young.
This book has no BS, Practical and realistic that can be applied in your life to achieve financial freedom.
The Total Money Makeover
Written by Dave Ramsey, the total money makeover: A proven plan for financial freedom shows you how to stop accepting debt as normal, eliminate it forever in small increments, and build the financial future you deserve in seven steps.
You won’t find any get-rich-quick ideas here too. Ramsey emphasizes that there is no secret way to building wealth. Instead, it takes both dedication and time. You must work for it — hard.
Think and Grow Rich
Think and grow rich by Napoleon Hill is a classic self-help book. It is one of the most sold books among its types. This book tries to explain why some people amass great fortunes while others fail to make ends meet. Since its launch in 1937, this has always been the reference book for people who want to get rich.
It is a curation of is a curation of the 13 most common habits of wealthy and successful people, distilled from studying over 500 individuals over the course of 20 years. It’s a must read if you are set to achieve big financial as well as personal goals.
I Will Teach You to Be Rich
I Will Teach You To Be Rich: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works by Ramit Sethi is another personal finance book that can really help you achieve your goal of financial freedom.
After reading this book, you will learn how you can earn more money andsave more money on autopilot while allowing yourself to spend guilt-free on the things you enjoy.
The Intelligent Investor
The Intelligent Investor by Benjamin Graham teaches you about value investing. The same method of investing that made Warren Buffett, one of the richest man on the earth. Written in 1949, the lessons and advices in this book still hold true for today’s financial market
This book explains value investing, which is focused on generating steady, long-term profits by ignoring the current market and picking companies with high intrinsic value.
Money Master the Game
Money Master the Game: 7 Simple Steps to Financial Freedom is another book that will help you secure financial freedom for you and your family. This book is based on extensive research and one-on-one interviews with more than 50 legendary financial experts of the world.
Although this is a long book, it is still worth it. It holds the key to making a financial fortune and also what to do with it.
The Psychology of Money
The Psychology of Money by Morgan Housel provides timeless lessons on wealth, greed, and happiness. This book is a must read if you want to understand how money and human psychology are closely interlinked.
The Psychology of Moneyis one of the those books that lays the fundamentals required for investment and saving your money without pushing and punishing with a lot of jargons, technical terms. The book speaks in a very clear manner, chapters being crisp and brief, in a language which is assertive with a lot of understanding of the psychology of an individual average investor/human who wants to secure the future.
The Science of Getting Rich
The Science of Getting Rich is a book by Wallace D. Wattles that gives you permission to embrace your natural desire for wealth and explains why riches lead to a prosperous and abundant life in mind, body, and soul.
This book eaches that, contrary to popular belief, there is plenty of wealth and happiness to go around. This book also reveals the way of thinking that will get you all the riches and joy that you desire. It shows a remarkable new way of thinking about having and earning wealth. This book can help anybody increase their riches if only they will apply the lessons that Wattles teaches.
The Automatic Millionaire
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach is an actionable, step-by-step plan for building wealth without being disciplined by relying on fixed percentages, small payments, and automated transactions.
David Bach gives you a totally realistic system, based on timeless principles, with everything you need to know, including phone numbers and websites, so you can put the secret to becoming an Automatic Millionaire in place from the comfort of your own home. This one little book has the power to secure your financial future. Do it once, the rest is automatic.
A Random Walk Down Wall Street
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investingis a book by Burton G. Malkiel. In this book, he explains that the market is highly efficient, and no one can accurately predict its ups and downs; it’s a “random walk”. So, the best approach is passive, “buy and hold” investing using diversified index funds held long term.
Random walk theory of this book holds that short-term and mid-term price movements of a specific stock appear to be random and thus are unpredictable. Using a share price’s past movements, for example, is an unreliable means of projecting its future direction. Understanding random walk theory can help retail investors focus on their investment strategy.
The Simple Path to Wealth
The simple Path: Your road map to financial independence and a rich, free life to Wealth is a book by J.L Collins. It is an easy read and easy to reference book. It is immediately applicable. And it also tie together a lot of your finance/investing knowledge into one pretty package.
“The media claims stock investing is no better than gambling. Wall Street pros claim investing is so complicated you need to pay THEM to guide the way. Collins cuts through the crap. He demonstrates a simple, level-headed way to wealth that will lead you to a richer life.” — Money Boss
Why Didn’t They Teach Me This in School
Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live by Cary Siegel is a book for all students who want to learn about personal money management. The author realized that personal money management skills were rarely taught in high schools, colleges and even in MBA programs.
Unfortunately, books on the subject tend to be complicated, lengthy reads. The book includes eight important lessons focusing on 99 principles that will quickly and memorably enhance any individual’s money management acumen. Unlike many of the personal money management books out there, this book is a quick, easily digested read that focuses more on the qualitative side than the quantitative side of personal money management.
Broke Millennial: Stop Scraping by and Get Your Financial Life Together by Erin Lowry shows step-by-step how to go from flat-broke to financial badass. Unlike most personal finance books out there, it doesn’t just cover boring stuff like credit card debt, investing, and dealing with the dreaded “B” word (budgeting).
It shows those in their twenties and thirties how to manage their finances so that they can stop scraping by and instead begin to live more confidently when it comes to money.
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