According to a 2018 research, 58 percent of Americans have savings accounts with less than $1,000. It gets worse: More than half of those people have nothing at all! Not good.
Not because “you should save money,” but rather because not having an emergency fund leaves you open to risk. What would happen if someone hit your car? Imagine if you fractured a couple bones. Things beyond our control may compel us to make a payment. When that occurs, you don’t want to be caught unprepared.
The most obvious reason to learn how to handle your finances is simply that. Others include the ability to retire stress-free, having enough money to invest in a new business, and freely contributing to friends, family, and charities. To some extent, money does make our lives easier.
Thankfully, there are many excellent books available to guide us toward financial literacy. Over 1,000 books have been examined and summarized by us, and we believe the top three finance books are as follows:
- Practical guidance: Any advice authors give should be simple for you to put into practice straight away because money is a concrete thing.
- Pertinent information: You may require an expert book or a book for beginners, depending on your circumstances and ambitions.
- Stories that inspire: You won’t be inspired to act if a book is uninteresting. Reading or hearing a fantastic story is the simplest method to transform.
We’ve chosen the top 14 finance books for you to read based on these three standards. Consider reading these books if you want to improve your financial knowledge, be more frugal with your spending and saving, and discover how to invest your money to achieve financial freedom. Our recommendation list for each book includes a great quotation, a synopsis, three main lessons, and a few justifications for why you should read it.
We divided the list into many sections and made a table of contents so that you could navigate this page more easily. Using the tiny arrow in the page’s bottom right corner, you can also jump back up here.
These books might be the key to improving your financial situation, regardless of your past financial misfortune, bad spending habits, or math skills. The top finance books are listed below.
1. Rich Dad Poor Dad by Robert T. Kiyosaki
Favorite Quote
“The main reason that over 90 percent of the American public struggles financially is because they play not to lose. They don’t play to win.” — Robert T. Kiyosaki
The Book in One Sentence
Rich Dad Poor Dad tells the story of a boy with two fathers, one rich, one poor, to help you develop the mindset and financial knowledge you need to build a life of wealth and freedom.
What makes it worth reading?
Although this book is divisive, it simply works when it comes to motivating you to take action. It is partially based on the life of Kiyosaki, who discovered two distinct approaches to managing money from his father and his best friend. The lessons cover a variety of topics, including how to think about money conceptually, fundamental concepts in accounting, budgeting, and investing, as well as how to manage your money so it works for you. By the time the story is over, you’ll enjoy using the advice.
Main Points
– Spend your money on assets rather than liabilities.
– Instead of avoiding risks, manage them.
– Work for learning, not for money.
2. Money: Master The Game by Tony Robbins
Favorite Quote
“You either master money, or, on some level, money masters you!” — Tony Robbins
The Book in One Sentence
Money: Master The Game lays out seven simple steps to financial freedom, based on the advice of the world’s best billionaire investors, interviewed by Tony Robbins.
What makes it worth reading?
Tony Robbins worked on this book for eleven years. He made the decision to aid common people in securing a bright future in the wake of the 2008 financial crisis. He assembled their greatest tactics after speaking with various rich financial luminaries, including Ray Dalio, Warren Buffett, and Jack Bogle. Everything from mentality shifts to money-saving advice to asset allocation is covered in the book. The interview transcripts alone are worth the cost of the book.
Main Points
– Never undervalue compound interest’s exponential potential.
– To prove to yourself that financial independence is attainable, choose one of the following – – Three objectives: basic expenses, basic + enjoyment, or financial independence.
Utilize a 3-bucket approach to diversify your investments: a growth bucket, a security bucket, and a dream bucket.
Best Finance Books For Beginners
3. The Barefoot Investor by Scott Pape
Favorite Quote
“You can continue living in the past, beating yourself up about the money mistakes you made when you were younger, telling yourself you’ve left it too late…or you can rise up and make yourself proud.” — Scott Pape
The Book in One Sentence
The Barefoot Investor is an Australian farm boy’s no-BS guide to taking charge of your personal finances with a simple system to eliminate debt, live in the now, and still retire in peace.
What makes it worth reading?
Australia’s most respected authority on personal finance is Scott Pape. He’s sold more than 1,000,000 copies of his book. Even though Pape was raised on a farm, he desired to become wealthy through stock trading. That didn’t go as planned. He returned to his farm and now compares living simply to managing your finances. The book teaches you how to take charge in three stages: planting, growing, and harvesting your cash. He strikes a balance between conventional guidance and unconventional suggestions. A fantastic book for new readers.
Main Points
– Utilize various bank accounts to streamline your money management.
– First destroy your credit cards, then begin making payments on your debt.
– Utilize index funds to automate some of your retirement planning.
4. The One-Page Financial Plan by Carl Richards
Favorite Quote
“People who understand interest earn it. People who don’t pay it.” — Carl Richards
The Book in One Sentence
The One-Page Financial Plan makes financial planning stop feeling like a burden for the less disciplined by helping you plan your entire financial future on a single page.
What makes it worth reading?
Over the past 20 years, Carl Richards has worked at Wells Fargo, Merrill Lynch, and other financial institutions for more than 40,000 hours as a financial counselor. His Instagram sketches have gained a lot of traction. They provide examples of the concepts that enabled him and his wife to organize their finances on a single sheet of paper. You may learn how to do this from his book.
Main Points
– Set some objectives but remain adaptable and make adjustments as you go.
– To make saving enjoyable, build a budgeting game.
– Consider paying off your debt as a future investment.
Best Finance Books For Investors
5. The Intelligent Investor by Benjamin Graham
Favorite Quote
“Those who do not remember the past are condemned to repeat it.” — Benjamin Graham
The Book in One Sentence
The Intelligent Investor explains value investing, which is focused on generating steady, long-term profits by ignoring the current market and picking companies with high intrinsic value.
What makes it worth reading?
According to Warren Buffett, this is the best investing book ever published. It is based on lessons Warren Buffett learned while a young student in Benjamin Graham’s teachings. Value investors seek out businesses with strong fundamentals and purchase their stock at a bargain. All that’s left to do is wait after that. They will eventually reveal their true worth. a genuine, enduring classic.
Main Points
– Three guidelines govern wise investing: consider the long term, guard against losses, and avoid chasing after unrealistic rewards.
– Never trust Mr. Market since he has a tendency to act irrationally over the short and long term.
– You’ll succeed if you follow a specific procedure when making all of your investments.
6. The Little Book That Beats The Market by Joel Greenblatt
Favorite Quote
“Choosing individual stocks without any idea of what you’re looking for is like running through a dynamite factory with a burning match. You may live, but you’re still an idiot.” — Joel Greenblatt
The Book in One Sentence
The Little Book That (Still) Beats The Market is a step-by-step tutorial to implement a simple, mathematical formula when buying stocks which guarantees long-term profits.
What makes it worth reading?
Joel Greenblatt is a legendary investor. From 1986 until 2006, his investment firm Gotham Funds experienced annual returns of above 40%. Joel has succeeded in making Benjamin Graham’s value investing strategy into a system that only needs to be updated once a year using a straightforward formula. He recorded it in 2005 so he could give it to his kids. This is your best option if you’re seeking for a precise, hassle-free investment strategy.
Main Points
– To evaluate equities, have a look at the earnings yield and return on capital.
– To locate winning businesses, rank and combine these two elements.
– Because this approach is controversial yet effective, patience is a virtue.
Best Finance Books For Entrepreneurs
7. The Millionaire Fastlane by MJ DeMarco
Favorite Quote
“Many people want to change their life, but they are not willing to change their choices, and ultimately this changes nothing.” — MJ DeMarco
The Book in One Sentence
The Millionaire Fastlane points out what’s wrong with the old “get a degree, get a job, work hard, retire rich” model, defines wealth in a new way, and shows you the path to retiring young.
What makes it worth reading?
The title of this book must be the most deceptive ever. It’s not at all a get-rich-quick plan. Instead, it is a tale of tenacity, audacity, risk-taking, and creative thinking. When MJ DeMarco was a teenager, he saw a man driving a Lamborghini and knew he wanted to be wealthy but didn’t want to work for 40 years to get there. He founded, sold, and then repurchased his own business before retiring at age 33 and becoming a multi-millionaire. A motivating read!
Main Points
– Money is not one of the three things that wealth stands for: the things that really matter are freedom, relationships, and health.
– You must eventually separate your income from your time.
– Consider yourself a producer rather than a consumer.
8. Think and Grow Rich by Napoleon Hill
Favorite Quote
“The starting point of all achievement is desire. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.” — Napoleon Hill
The Book in One Sentence
Think and Grow Rich is a curation of the 13 most common habits of wealthy and successful people, distilled from studying over 500 individuals over the course of 20 years.
What makes it worth reading?
The world’s most read book about success may be this one. Napoleon Hill spent 20 years interviewing successful people after steel baron Andrew Carnegie personally assigned him the assignment. The final product, which has 70 million copies sold, was published in 1937. It’s a book about having an outlook and taking the necessary action to succeed. This is for you if you’re a young entrepreneur.
Main Points
– Autosuggestion can help you develop a firm self-belief.
– Be obstinate and adhere to your decisions at all times.
– To accelerate your learning process, join a Mastermind group.
Best Finance Books For Saving Money
9. I Will Teach You To Be Rich by Ramit Sethi
Favorite Quote
“Getting started is more important than becoming an expert.” — Ramit Sethi
The Book in One Sentence
I Will Teach You To Be Rich helps you save money on autopilot while allowing yourself to spend guilt-free on the things you enjoy.
What makes it worth reading?
In 2004, Ramit Sethi launched his blog in his dorm room. He doubled on after making a few dollars off the sale of an ebook and realizing the potential of internet income. After 15 years, GrowthLab now generates millions of dollars in annual revenue from online courses. His New York Times best-seller will enable you to automate your retirement planning, spend more on the activities you enjoy, and make cost savings in every area of your life. A practical viewpoint from someone who has experienced it.
Main Points
– Your financial issues are solely your responsibility.
– Knowing your income allows you to automatically focus it toward the goals you have set.
– Even if it’s only $1, begin investing right now.
10. The Total Money Makeover by Dave Ramsey
Favorite Quote
“We buy things we don’t need with money we don’t have to impress people we don’t like.” — Dave Ramsey
The Book in One Sentence
The Total Money Makeover shows you how to stop accepting debt as normal, eliminate it forever in small increments, and build the financial future you deserve in seven steps.
What makes it worth reading?
One of the most well-known radio programs ever in the USA is The Dave Ramsey Show. People who receive Ramsey’s debt relief assistance then go on his show to discuss the experience. He goes beyond simple quantitative advice and assists them with the emotional problems associated with dealing with money. Ramsey advises you to pay off your bills in order of size, start saving gradually, and then make investments once you’ve taken care of the essentials. An unwavering approach to finances
Main Points
– Start by setting aside $1,000 in an emergency fund before doing anything else.
– Pay off your debts one by one, starting with the smallest.
– Increase your emergency savings until you have a three-month cushion at the very least.
Best Finance Books For Retirement
11. The Automatic Millionaire by David Bach
Favorite Quote
“The fact is, none of us really has a choice: We are all playing the money game whether we want to or not. The only question is: Are we winning?” — David Bach
The Book in One Sentence
The Automatic Millionaire is an actionable, step-by-step plan for building wealth without being disciplined by relying on fixed percentages, small payments, and automated transactions.
What makes it worth reading?
David Bach went to McDonald’s with his grandmother when he was seven years old. She explained to him over lunch that there are three different kinds of people in the world: those who work at McDonald’s, those who eat there, and those who own stock in the restaurant chain. Wow! Bach later rose to the position of vice president at Morgan Stanley. He now publishes books and has a consulting business. His most useful model for accumulating wealth is this one, which is one of his seven New York Times bestsellers.
Main Points
A small bit of savings each day will go a long way.
To take care of your financial future, pay yourself first.
You can invest shrewdly with the help of automatic installments without having to exercise self-control.
12. The Millionaire Next Door by Thomas J. Stanley
Favorite Quote
“Whatever your income, always live below your means.” — Thomas J. Stanley
The Book in One Sentence
The Millionaire Next Door shows you the simple spending and saving habits that lead to more cash in the bank than most people earn in their life while helping you avoid critical mistakes on your way to financial independence.
What makes it worth reading?
Stanley and his co-author William Danko spent decades researching people with average salaries and substantial wealth. The book aids you in preventing under-accumulation of wealth, or UAW. The majority of people could save 50% of their income. This book explains why doing that will ultimately be worthwhile.
Main Points
– As soon as you begin making more money than you require to live, you should start saving responsibly.
– Calculate your net worth using a straightforward formula to see if you’re making enough money.
– To achieve your aim, stay away from economic outpatient care, which involves paying too much money to help others.
Best Finance Books For Financial Freedom
13. Secrets Of The Millionaire Mind by T. Harv Eker
Favorite Quote
“If you want to change the fruits, you will first have to change the roots. If you want to change the visible, you must first change the invisible.” — T. Harv Eker
The Book in One Sentence
Secrets Of The Millionaire Mind suggests our financial success is not determined from birth and shows us what to do to break through mental barriers and acquire the habits and thinking of the rich.
What makes it worth reading?
T. Harv Eker examined his own connection with money after experiencing an extreme rollercoaster of establishing, selling, losing, and failing at more than a dozen businesses. He discovered that, like the majority of us, he had simply imitated his parents’ financial habits. The detrimental components of that wiring will be undone by reading this book, and they will be replaced by sound financial principles and practices.
Main Points
– You naturally have a tendency to adopt your parents’ financial tactics.
– You must first acknowledge that you are in charge of your finances if you wish to take control of them.
– You’ll never become wealthy yourself if you hate rich people.
14. The Richest Man In Babylon by George Clason
Favorite Quote
“Advice is one thing that is freely given away, but watch that you only take what is worth having.” — George S. Clason
The Book in One Sentence
The Richest Man In Babylon gives common-sense financial advice which you can apply today, told through tales and parables from the times of ancient Babylon.
You should read it because…
When he released this book in 1926, soldier-turned-entrepreneur-turned-writer George S. Clason showed shrewd judgment. He incorporated his lessons into tales from the Babylonians rather than offering dull, unfounded counsel. They gave George the ability to impart these lessons to us since they were a people who were regarded as amazing. It still makes good sense to follow the advise.
Major Points
– Maintain a modest lifestyle.
– Become lucky by learning how.
– Don’t ever borrow money.
Conclusion
Over a thousand books have been summarized by us so far, many of them on finance. These, in our opinion, are the best finance books ever written to help you start controlling your finances.
Whether you’re dealing with the effects of a horrible turn of events, have bad financial habits that you picked up as a youngster, or are just bad at math, after delving into these books, you’ll soon have more financial breathing room in your life.
“An investment in knowledge pays the best interest.” – Benjamin Franklin
You’ll be well on your way to financial independence if you increase your financial literacy, cut back on your spending, start saving, and invest.
The most crucial step in regaining financial control is to begin right away.
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