Personal Finance is not a topic we learn in school. However it is a vital skill to learn especially as you grow older and start to earn an income. Here are the books that I consider essential reading if you want to learn more about personal finance.
1. “Rich Dad, Poor Dad” by Robert Kiyosaki
Still a classic (and for good reason). “Rich Dad, Poor Dad” takes a look at the differences in thinking between “rich” and “poor” people. This was a book that was both educational and entertaining. I actually read this at 8 (interestingly enough, I was forced to read this by a wealthy relative). I don’t know if I understood what I was reading at the time but I picked this book up a few months ago and could definitely relate to it. In my job I have seen both “rich” and “poor” and this book definitely highlights the different ways both groups see the world
2. “I Will Teach You to Be Rich” by Ramit Sethi
This is another good book that offers a practical and no-nonsense approach to personal finance. Sethi covers a range of topics, from managing credit card debt to negotiating a salary increase, and provides actionable advice for building wealth and living a rich life.
3. “Managing Your Money Like a F#cking Grown up” by Sam Beckbessinger
This book is like sitting down with a friend to discuss your finances. I loved it! Beckbessinger offers a practical but funny guide to managing your money as an adult. Immediately after reading this, I had to start implementing her tips and I definitely saw a difference in my finances.
4.”The Latte Factor” by David Bach
This book changed my life. I know we all know that you cannot save money just by skipping a latte but this book made me really think about what was important to me when it came to my money. “The Latte Factor” looks at the importance of prioritizing spending and investing in oneself, rather than frivolous daily purchases. It doesn’t just look at money as money. It looks at what financial freedom means to you.
5.”The Total Money Makeover” by Dave Ramsey
I finished this book in one go. “The Total Money Makeover” offers actionable advice to help you get your finances in order. Ramsey teaches readers about his “baby steps” approach to financial success, which includes strategies such as creating a budget, building an emergency fund, and paying off debt.
Reading these personal finance books can help you develop the knowledge and skills you need to achieve your financial goals. Whether you’re looking to build wealth, pay off debt, or simply improve your financial literacy, these books are a great place to start.