Top 5 Books To Read to Improve Your Finances
So you love to read and you wanna start taking control of your finances, eh? Lucky for you (and me and all of us!) there are LOTS of books out there on all things money, investing, etc.
With so many books in the sea, I’m sharing with you my top 5 favorite books to improve your finances. If you’re looking for a great way to check out books during COVID, I highly recommend getting the Libby app. Libby is a free app that allows you to check out ebooks and audiobooks right from your phone from your local public library. How awesome is that?!
In no particular order, here are my top 5 favorite books to improve your finances:
The Millionaire Next Door by Thomas Stanley
This book changed the way I thought about millionaires. From being these people in a land far, far away, to realizing that people Right. Next. Door. Just very well might be millionaires. The assumption that the majority of millionaires receive an inheritance or simply “get lucky” is challenged, and the concepts of hard work, perseverance, and making daily decisions to get one towards their goals are discussed. I recommend this book particularly if you’re someone that scoffs at the idea that with the right actions and effort, you too can be a millionaire someday.
2. You Are a Badass at Making Money by Jen Sincero
Jen Sincero is an incredible author who uses humor and life experiences to keep this piece engaging and resonating in your minds for days/weeks after you read it. One thing Sincero focuses on is the adversarial relationship that so many of us have with money. Whether that’s because we grew up thinking money was evil, or there was never enough money, or perhaps you’ve fallen into the trap that “money will never be on your side”. She’ll walk you through all things mindset, positive energy, and setting money goals, and you’ll be on your way to a more positive relationship with money in no time.
3. I Will Teach You To Be Rich by Ramit Sethi
A handful of months after reading this book I realized how many interviews with Sethi exist on YouTube and my mind was blown. This book is great if you appreciate a straightforward no BS approach to life and money. He breaks down what so many people find a way to complicate and provides us (the readers) with a simple method of making better financial choices. He touches on personal responsibility and accountability, how automation will change everything for you, and many other topics. Something I think many 20 & 30 something will appreciate is that he doesn’t believe in giving up your lattes or think that we should buying avocados. He encourages big changes that are much less behaviorally based and result in huge benefits to you.
4. Think and Grow Rich by Napoleon Hill
Think and Grow Rich is all about the power of the mind. Hill discusses the ways that our thoughts and beliefs become our actions which then lead to results (whether those are the results we desired or otherwise). You’ll learn how to overcome mental blocks that are preventing you from achieving your goals, as well as how to harness your thoughts to motivate and push you towards accomplishing your goals and dreams. Originally published in 1937, I think it’s the oldest book on this list.
5. The Total Money Makeover by Dave Ramsey
It was a bit difficult for me to add this book to the list as I don’t follow all of Dave’s principles 100%. However! For myself and many others, TMM is the book that started it all. Ramsey provides the most basic breakdown of how to completely makeover your financial situation. I can easily say if you are at the beginning of your journey and wanting to gain more understanding as to how to change your financial situation, this is the book for you. With some tweaks, my husband and I are on baby step 2 and are looking forward to continuing to move through Dave’s steps.
Final Words
While there are many books that are out there in regard to personal finance and money, these are 5 of my very favorite. They are insightful, instructional, and don’t spend much time (if any at all) in more fluffy topics. Wherever you’re at in your journey, these books will continue to spur you on towards success and can be extremely helpful when it comes to learning how to traverse barriers that may show up throughout the process.
Do you have a favorite personal finance book? Leave it below so others can enjoy it as well!