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So you’re a bookworm and you’re into Personal Finance, I like it.
You may have noticed if you’ve been looking for books covering Personal Finance, there are a lot of options out there.
The proverbial minefield you might say.
So who do you listen to?
Which books are the ones actually worth reading?
Today, I am going to share with you my top 5 personal finance books to date.
I don’t pretend to have read every book on personal finance, I’m still very much going through my own journey.
However, I’ve read enough and can point you towards at least 5 really good reads.
let’s get into it.
Dave Ramseys Total Money Makeover – A proven Plan for Financial Fitness.
He is a New York Times best selling author with over 4 million copies sold to date (of this book), along with his own show and podcast series.
In this book, he talks about changing your mindset towards money.
It is not a get rich quick scheme, this just gives you solid information that is easy to read and put in place.
For those of you not in the USA, there are a few parts that are quite specific to those in America.
Don’t let that put you off though, the fundamentals and the theory behind everything he talks about are sound.
They can be applied to life and finance, no matter where you live.
If you are looking for advice and a straight forward guide to budgeting or getting your pension in order, this is the book you need.
If you have ever looked for anything in the Personal Finance space then you will have heard of Robert T. Kiyosaki.
For over 20 years, he has been writing in this space.
This book, Rich Dad Poor Dad, is now the Best Selling Personal Finance book of all time.
One of the amazing things about this book is that when it was originally written, it was widely criticized and challenged.
With regular updates, it is just as, if not more relevant today then ever.
In this 20th-year anniversary edition of Rich Dad Poor Dad, Robert gives you a little extra with his thoughts on the past 20 years.
Richard takes you through the two widely differing views on Personal Finance.
He shows how your upbringing and the mindset of your parents can really make a difference.
In this book, you will not find a step by step guide on how to make money, or how to get rich.
What you will find is a very well written, thought-provoking look at a lot of things, including:
- You don’t need a high income to be rich.
- Is your house really an asset?
- What is an asset and what is a liability?
- What should you teach your children about money?
Overall, this is just one of those books that needs to be in everyone’s collection.
For a good, thought-provoking read, grab your copy today.
You may be saying to yourself, “Saw that one coming”.
Well yes, a top 5 list is only a top 5 list if it has all of the big players in there.
Tony Robbins is not a financial expert as such, he is more known for being a motivational speaker.
For this book, he spent a lot of time with some of the worlds best investors like:
- Warren Buffett
- Paul Tudor Jones
- Ray Dalio, etc
In this book, Tony covers aspects like:
- Taking control of your financial decisions.
- Starting a savings and investment plan.
- Setting up a “lifetime” income plan.
Over the years, he has received some frankly amazing reviews from some very influential people and bodies.
Here is a couple of them just to give you the gist of how good this book is.
In his first book in two decades, Anthony Robbins turns to the topic that vexes us all: How to secure financial freedom for ourselves and for our families. “If there were a Pulitzer Prize for investment books, this one would win, hands down.(Forbes).
Tony Robbins’s books have changed people in profound and lasting ways. Now, for the first time, he has assembled an invaluable “distillation of just about every good personal finance idea of the last forty years .The New York Times.
Put MONEY on your short list of new books to read…It’s that good.Marketwatch.com.
Thomas J. Stanley Ph.D, William D.Donko Ph.d
Thomas J/ Stanley dies in 2015 but with the help of William D.Danko Ph.d and Sarah Stanley Fallaw Ph.d, his book lives on.
In this book, we look at questions like, Why aren’t I as rich as I should be?
Looking into peoples spending habits and the spending habits of the “rich” can be very interesting if not a little worrying at times.
This book takes a dive into how to build wealth, but not in the create something and earn a lot of money from it kind of way.
Thomas concentrates on how wealth can be built through hard work, a good attitude towards savings and living below your means.
Too many people max out their expenditure every month.
If you take a minute and think about it, what were you earning 5 years ago?
Could you live on that today?
Sure you could, but we all get so used to lifestyle creep as earnings go up that the majority of people never actually save in any meaningful way.
Thomas takes you through how the wealthy actually live, and it might surprise you.
This one might be a surprise to a lot of you.
It isn’t one that you’ll see at the top of many charts, nor is it written by a massively well-known author.
Don’t let that fool you.
This is one of my favourite Personal Finance books ever, so much so that I have just read it again.
Scott is an Australian and this book is, at times, very heavily aimed at the Australian audience.
That is not putting it down, as I said, I love this book.
Scott takes you on a full-blown journey from working, to buying a farm, to the house burning down, to building it all back up again.
How did he manage this?
Through what he calls the barefoot steps.
Scott walks you through:
- Automating your savings
- Automating your investments
- Paying off your home
- Sorting your retirement pot
- Enjoying yourself along the way
One of the things I love the most about this book is the way that Scott doesn’t push you to live an overly frugal life.
All that is needed is to pay your pots first (you’ll learn them in the book), then enjoy life.
Another must-read for anyone (even if you’re not Australian).
There are many out there that may not be huge fans of some of these authors.
I guess that can be said for anyone at the top of their game but hey, they’re best selling authors for a reason.
Just remember that with personal finance, there is no “one fits all” solution.
What works for me may not work for you.
For the cost of a couple of coffees down at your local cafe, what’s the worst that can happen.
When it comes to personal finance, one of, if not the factor that everyone seems to agree on is that it requires a change in mindset, for the majority of us anyway.
Use these books to help get your mindset in the right place and wealth will follow.
I don’t necessarily mean you will be “rich”, but then what does that mean.
Rich, wealthy, these are both things that mean different things to different people.
Find your comfort zone, determine your goals and create a plan, that is what these books will help you accomplish.
Happy reading and I hope you enjoy all the wisdom that is available to you.