You won’t find too many people showing a taste for personal finance books. Devoid of fantasy and fiction, these books teach you about life and money. After all, what is life without money?
Books have always been man’s best friend. Be it any subject, the content of the pages contains the gist of all experience and imagination, helping you shape the way you think. Many people are looking for books that would help them learn how to manage money. Personal finance is difficult to teach, especially for people who are not good with money. Even the smartest and smartest people flounder and stumble over money matters.
Learning personal finance does not always involve a thorough understanding of intense mathematical calculations. You still need to collect and collate data to assess how finance works. A basic understanding of savings and investments is enough to understand how money works to create more money.
If you are inclined to read personal finance books, I suggest you start reading what our native writers have written. These Indian-authored books don’t talk about markets or offer torturous content. Some of the most popular personal finance books include:
Let’s Talk Money by Monika Halan
Devoid of jargon or complicated examples explaining stock markets, this book can be described as a book of analogies. The book begins with a short story about how spending money recklessly can always undo unwanted financial disaster.
Written by one of the most trusted names in finance, this book is handy for novice investors keen to learn how best to use money to build much-desired wealth in the future. This book doesn’t target any particular niche or tell you how you should work on your income. The author makes this an easy-to-read book for anyone looking to boost their financial security.
Retiring Rich by PV Subramanyam
Now, the title of the book is enough to entice you to read this book. After all, who doesn’t want to get rid of the daily nine-to-six hour routine and retire early? Early retirement is most people’s dream, although the thought of not having accumulated enough resources makes many people nervous and uncomfortable. The idea of earning more through passive income to save and invest more remains a dream for many as they complain about how inflation is eating away at their savings every day. The decreasing value of money due to inflation means that what you save today may not be enough to support your expenses tomorrow. Therefore, today’s idea of saving for retirement may have no value tomorrow.
This book does not tell you to build wealth drastically. A simple and steady investment of Rs 40 every day done diligently over the next 30-40 years is enough to create a decent corpus of Rs 40-50 lakhs. The “Power of Compounding” is the secret recipe for financial success. Thus, a regular investment over an extended term is a sure way to accumulate the desired amount.
The author outlines how investing early in life will help a wealthy retirement. There is no magic involved. You have to choose from a multitude of investment opportunities available, invest your money in one or more of them, and then sit back to see how the compound effect helps to grow your money, or rather the money on your amount invested.
The Richest Engineer by Abhishek Kumar
Hold your horses before jumping to conclusions about the contents of this book. No, this book does not deal with the monotonous lives of engineers or shed light on their supposedly superfluous lives. This is a fictional story woven around a conversation between two engineers debating how some people achieve financial success in their lives despite starting with a low salary scale or not have not retired with a glorious payment, etc.
You dig deep and realize that it doesn’t take starry qualifications or a big bundle to be rich. Being aware of your finances or being careful about your spending will help you achieve your financial goals much better.
I will teach you how to be rich by Ramit Sethi
There is no magic formula like “Abra Cadabra…Oomph…Shoosh” to get rich. Creating wealth involves going through a series of steps and this book will teach you exactly that. You can define this book as a six-week personal finance course to learn how to sort out your finances for the rest of your life. You can consider this book as an essential step in learning the nuances of finance in our daily lives. The fact that most people in India are lacking in the essentials of financial literacy and that our schools have yet to introduce personal finance courses into their curricula makes reading this book all the more necessary.
What sets this book apart from other books is that it not only discusses stock market investing and other investment opportunities, but also the benefits of credit cards, when used wisely. Many people who have read this book have shared how reading its content has helped them manage debt, create budgets, choose the right investment options, and set financial goals accordingly.
Books will share with you what no one else does or can. So before you jump head first into the world of investing, learn personal finance by reading any or all of these books for a complete understanding.