There has never been a more important time to take control of your finances. We’ve compiled a list of the top eight personal finance books that can help.
1. The psychology of money – Morgan Housel
Written by Morgan, longtime Motley Fool columnist, this book is great for learning why some people behave in specific ways when it comes to their personal finances.
It is made up of 19 short stories, each one describing the different ways people relate to money. The book gives the reader a detailed look at why some people make certain financial decisions. In doing so, it sheds light on how our behavior controls the flow of money in and out of our lives – something we could all better understand!
The ultimate goal is to teach the reader the benefit of making good financial decisions, and doing so in a really silly (not silly!) Way: without the confusing jargon that usually comes with the territory.
2. Rich daddy, poor daddy – Robert Kiyosaki
This personal finance book is good for anyone who wants to know how to take control of their money.
The book includes financial lessons in a biographical style. He describes Kiyosaki’s “rich daddy” – his friend’s father who has accumulated great wealth and financial security – and his “poor dad” – his own father who worked hard all his life but ended up with very little. .
This book emphasizes the importance of financial education, financial independence, and the accumulation of assets rather than liabilities. It presents ideas such as how to make money work for you rather than working for money.
3. Silver: User Guide – Laura Whateley
This practical guide to everyday money management was a Sunday Times bestseller. It includes information such as how to get a good credit score and how to save money on bills.
He also provides advice on personal finance topics such as housing, student loans, pensions, debt repayment and ethical investments, among others.
4. How to retire early – Robert and Robin Charlton
Beneficial for anyone who wants to be able to choose their own life path – don’t be put off by the title! This is not just a practical guide to retiring as quickly as possible. This book is about a couple who went from full-time work to financial independence in less than 15 years.
Their journey includes retraining and changing jobs for one of them, and ends with retirement in 2006 during the recession. Despite the decline in their investment, they spent the rest of their 40s traveling the world.
5. Your money or your life – Joseph Dominguez and Vicki Robin
Ideal for anyone who wants to make sense of their life rather than material things, this document was originally published in 1992, when the idea of financial independence was just starting to take hold. It focuses on your relationship with money.
It covers nine steps necessary to achieve financial independence. These include thinking about what you are spending your money on and tracking your spending.
It is one of the first books to address the true cost of an item. It examines how much time and energy you need to put into the job to pay for it.
6. The simple path to wealth – JL Collins
Aimed at those seeking financial independence, it is based on a series of letters Collins wrote to his daughter on money and investing. Collins is another advocate for financial independence, but I believe this book will benefit anyone looking to take control of their personal finances.
Topics covered include the importance of debt avoidance, building wealth and preserving wealth.
7. Money lessons – Lisa Conway-Hughes
While this is a handy personal finance book aimed at young women, anyone who needs help managing their finances could benefit from it.
Drawing on her 15 years of experience as a financial advisor, Conway-Hughes provides expert advice on how you can make a difference in your personal finances.
The book covers topics such as “Breaking Down Debt” and “Going Up the Ladder”. It also discusses how to use modern technologies, such as apps, which can help you get organized.
8. Broken millennial -Erin Lowry
I think this book is perfect for the broke 20 or 30 year old who are tired of “getting by” and don’t want to spend the rest of their lives in debt.
The book is a step-by-step guide on how to go from “flat broke” to “financial badass”. Lowry does this by covering topics such as your relationship with money, managing student loans, and socializing with friends.
If you are interested in one of these personal finance books but are short of cash, you can ask a friend or relative to buy it for you as a Christmas present.
If you’re in debt and need extra help, Advice to citizens Where National debt can offer free and unbiased advice.
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