Most of us prefer not to talk about money in public. While some people argue that it might be the wrong approach, the reason people like to keep it that way is while money is private, it gives people a judgement of someone’s worth.
That being said, it is of utmost importance to have personal evaluations with regards to money, It is important to understand how government creates money, how we can make more of it and save it for our future.
Luckily for all you people interested in improving your understanding about money and thereby making more money, there are ton’s of books out there which can help us in our endeavour.
These books cover diverse topics like personal finance, investing and millionaire mindset. Today, we’re going to share with you guys our personal best 7 we’ve picked after scouring to hundreds of books that revolve around the aforementioned ideas.
1. Rich Dad Poor Dad
Written by Robert Kiyosaki and Sharon Lechter in 1997, this book is the first you should pick up on your journey to learning about money. A classic book on money, it has sold 32 million copies in more than 51 languages across more than 109 countries and been on the New York Times bestsellers list for over six years. It single-handedly turned Robert Kiyosaki into some sort of money guru and created a personal brand out of him.
The book entails Robert’s life journey ostensibly and uses the idea of having two dads: a rich dad and poor dad to convey the message. Robert grows up watching both these men and shares what strategies worked and what failed for these two men. The book promotes the importance of financial education; something which is seldom taught to us in school and shows practical wealthy building ways through investing in assets, buying real estate and owning businesses.
According to Robert, people can be divided into four categories on the basis of their work: employees, self-employed, business owners and investors. The book advocates the idea that your goal should be to traverse these rungs of the ladder and become an investor if you want to become rich and attain financial freedom.
2. Your money or your life: 9 steps to transforming your relationship with money and achieving financial independence: revised and updated for the 21st century.
Your money or your life is one the most popular money books out there and it is recommended by a ton of self-made billionaires. Chris Reining, the billion who managed to cross the $1 million threshold at age 35, calls it “the book that changed my life.”
The book hammers the idea that all of us trading time in exchange for money. While most people think about how much money we make as a whole, the book urges us to ask questions like “How time did we trade for it” and “Was it worth it?”
This book will help you re-examine your entire life including your work, your priorities and how you think about money. By the end of the book, you’ll know the precise habits that are essential to building wealth.
3. The millionaire next door: the surprising secrets of America’s wealthy
They say you are the sum of the five people you surround yourself with. The millionaire next door levarges this idea and teaches about the wealthy habits of America’s wealthiest people with a goal to get more and more people to adopt them and change their financial situation.
The book throws light on the fact that most millionaires don’t exactly live the way we think they do – they live in modest houses and drive normal cars. the reason they are millionaires is that they saved money and invested it by living below their means. Many millionaires like Warren Buffett continue living modestly even if they can afford to live their life the way they’d want and splurge like anything
This book dives into habits of millionaires and shows you how can apply the same principles to become rich.
4. The only investment guide you’ll ever need
While the author Andrew Tobias makes a tall claim given the title of the book, he does manage to live up to it. No matter what age you’re at, you should be reading this book to understand how to grow money ( Most people in 20’s and 30’s thank their lucky stars if they get a hand of this book that early.
Although the book was written in 1978, it gets updated every 3 or 4 years to include up to date information. The book will teach you how to invest better and make smart money decisions with regards to insurance, taxes, how to save money shopping and a lot of other topics.
5. The millionaire real estate investor
A lot of money books state that real estate can help grow wealth exponentially but they talk about it a generic sense. Since real estate can literally give you more than double the returns, it’s imperative to read a book only on real estate investing and turn a pro before the time comes when you become capable of making the plunge and stacking up real estate.
Written by Keller Williams founder Gary Keller, one of the most successful realtors ever, the book is an easy read many practical tips for evaluating and buying properties. In the course of the book, Gary profiles a number of successful real estate investors (from people in their 20’s to 50-year-old single moms) who started small and made tons of money by growing their real estate portfolios.