Top 10 Books For Financial Literacy
A wise man once said that wisdom outweighs wealth. While this can be truly incorporated in some areas of our life, it is also a fact that wisdom will only lead to good wealth. This notion stands true for the most part in specific areas of life including financial literacy, and management.
If you love taking the road traveled by successful people all across the world, you might find a keen interest in reading financial books. In the spirit of garnering important education and awareness from some of the wisest financial minds, here is our list of the best ten books you ought to consider when dealing with money.
- The Intelligent Investor by Benjamin Graham- great for stocks selection
The book has seen the turn of times and events in the financial industry since its first copy hit the markets in 1949. The best part is, the book keeps on updating and has gone through various revisions from time to time. It is ideal for long-term investors and also takes into account the basics and of market functionalities. The legacy book also covers various topics on value investing and stock selection as per the market trends. A must-read for new investors.
- The Total Money Makeover by Dave Ramsey-ideal for debt management
Many people focus on improving their revenue cycle management and increasing their capital. But they find themselves abandoned in the middle of the finance ocean when they face debt. Debt is a crucial aspect to be addressed in time and the Total Money Makeover really helps with this. The book, as reviewed by many critics, offers some of the most practical ways of getting out of debt. Instead of aiming at how to avoid it, the book will shed light on turning debt into strengths. Topics such as avoiding financial pitfalls, raising emergency funds and saving for retirement form a key chore of this volume.
- Rich Dad Poor Dad by Robert Kiyosaki- a fun-filled financial ride
Unlike just any informative piece of written pages, the book offers a different take on financial literacy. It is depicted in the form of a story where the writer follows the teachings from both his fathers-one being a rich dad, the other being a poor dad. This is the book that provided us with the universal notion of ‘not working for money but making the money work for us.’ It highlights the role of financial literacy in our world and ways to learn the fundamentals of saving and spending. The book also explores the topics like liabilities, assets, financial intelligence and much more.
- A Random Walk Down Wall Street by Burton G. Malkiel – about investing tactics
If you are more of an investor than a saver, this book is an ideal fit. Focused on experienced and entry-level investors, the book deciphers the historical information that our ancestors have left for us. It also unravels the myths about market theories and modern-day economics. In a nutshell, the book will help investors to make wiser decisions, avoid common mistakes and ways to play on their core strengths. The book comes from an author who has already published more than 10 books on financial literacy. So be sure that you are in for a joyful ride of insights and awareness content.
- The psychology of Money by Morgan Housel- about money-making and saving
The name says it all – learn the ethics of money-making. Dive deep into the stats about the economy and know the reality behind debt management and invalid deductions. But above all, know about your ego and emotions related to finance. Realize the importance of waiting and know how presumed notions can affect your income. The book is an all-rounder and overall a good read to keep you engaged for a few days. The book is divided into 19 short stories with every tale giving an interesting lesson to the readers. The correlation amongst chapters is something you will surely appreciate and do not miss the ending as it can really invoke some motivation.
- I Will Teach You How To Be Rich by Ramit Sethi – a spender’s dream guide
From savings to spending, this book will turn pages on your financial ride with great insights and informative content. Offering the basic ethics of spending money in the right manner to not to go bankrupt is the theme the book revolves around. It is popular amongst well-established investors and industrialists but is a good go-to read for beginners as well. You can explore many additional topics such as saving for study, allocation of money properly and how impacting money-making. Buy the 10th addition as it has some additional content including a few real-life success stories.
- Clever Girl Finance by Bola Sukunbi- a women-centric masterpiece
We seldom get to see a financial book focused only on women’s financial goals and aspirations. This is the one you have been waiting for. Women have to work harder to get as much money as men do. They have to deal with the intricacies of life, not to mention a load of responsibilities.
aBut they can still be rich and invest wisely, as this book explains. Aimed to empower the new generation of girls, the book is a real trend killer. It educates the women on ways to secure their assets, build a nest egg, save for retirement and most importantly, how to be financially dependent. Many women are always looking for such type of content and the author Bola has provided exactly what we have been waiting for. A must-read.
- Stop Acting Rich by Thomas Stanley- a powerful mindset driver
The book is exactly what its name reads. It helps you identify your loopholes and realize how earning money is not everything in life. Wealth is not gained from luxury items, but from happiness within. The book conceptualizes the money concept in an ideal way and shed light on ways to save money without any shortcuts. The book also tells us how to accumulate more wealth and live like a rich man by investing securely. It showcases various aspects one needs to consider achieving that long-lasting financial freedom. Above all, the book will tell you how to differentiate between acting rich and being actually rich.
- The Automatic Millionaire by David Bach- an ultimate resolute to being a millionaire
Everyone wants to be a millionaire. It might not be your end goal, but it is actually something to look forward to. You can get tons of ideas from David Bach in this straightforward simplification of how to be a millionaire. Realize the secrets of developing a nest egg that can turn your life comfortable and luxurious. Know the ways to earn more than you ever dreamt of in a month. Discover the strategies behind money-saving and spending to get more money. Read all this and more in this book. The book is focused on couple earning and how to enhance it. So, if you are married to a working spouse, the book might change your course of life.
- The Richest Man in Babylon by George S. Clason –vintage financial literacy at its best
Though the book is from a bygone era, it offers some classic financial education that we can comprehend nicely. Published in the year 1926, the book consists of enough fuel to interest you through cultural money concepts and teachings. The book is written in a story-type format about a man based in Babylon. Chapter by chapter, you shall realize the teachings and strategies of acquiring wealth and preserving it until you retire. You will get to know some of the most revolutionary advice we follow in today’s date. These include investing only 10 percent of your savings, keeping money for yourself, taking financial advice as it’s free and much more. It’s a no-brainer if you are into classic books.
The bottom line
Reading is a hobby that gives us education, awareness and most importantly time for ourselves. Reading these books will not only help you stay engaged but also assist in reaching for higher financial goals in your life. You can easily set out a roadmap of your own life and start acting on investments, assets, equities and more.
Author: abhishek tuteja
Content writer with sky in eyes and nature in heart, living life learning each lesson per day.
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