How much time do you spend managing your finances? If you don't already manage your money well, then you should read these books to get started.
Money management is a complex topic, especially when it comes to personal finance. There are countless ways to invest, save, and plan for retirement. The key is knowing where to start. Being able to make a little extra money is great, but being able to save extra is even better.
Nowadays there are a great deal of budgeting apps, budget calculators and personal finance books. Sometimes it can be hard to tell where to start and what to look into.
Here are some great books to help you manage your money better. They cover topics such as investing, saving, budgeting, debt reduction, and insurance and will help lay a great foundation for your future money management.
1. Personal Finance For Dummies by Eric Tyson
This book will teach you how to make smart financial decisions and avoid common mistakes. You'll learn about the different types of investments available, including stocks, bonds, mutual funds, real estate, and more.
Personal Finance for dummies is a great starting point for anyone who wants to understand their money better. It's written in an easy-to-understand style that makes learning fun. This book also covers important topics like taxes, credit cards, mortgages, and student loans.
Click here to check out Personal Finance for Dummies
2. The Total Money Makeover by Dave Ramsey
Dave Ramsey teaches people how to pay off their debts, build an emergency fund, and live within their means. He also gives advice on how to deal with issues like credit cards, student loans, and mortgages.
The Total Money Makeover is a great guide if you want to take control of your money. In this book, he explains why most Americans can't afford what they have, and shows them how to fix their problems.
You'll learn how to set up a budget, track spending, and find new ways to earn extra income. Plus, you'll discover how to cut back on unnecessary expenses so you can focus on building
Click here to check out The Total Money Makeover
3. Rich Dad Poor Dad by Robert Kiyosaki
In this bestseller, Robert Kiyosaki tells what he has learned from his rich dad and shares the lessons that every person can use to become financially independent.
Rich Dad Poor Dad is one of the first books I ever read on personal finance. It was my introduction to the idea that we all need to be responsible for our own financial future.
Kiyosaki says that there are two kinds of people: those who work hard and play by the rules, and those who play by the rules and work hard. He argues that the latter group is far richer than the former.
He explains that the only way to achieve wealth is through hard work and purchasing assets. His message resonates with many readers because it's simple and straightforward.
This book was personally the first financial book I read. This helped me a lot with the core concepts of growing wealth. Focus on assets not liabilities and always keep an eye open for opportunities.
Click here to check out Rich Dad Poor Dad
4. The Intelligent Investor by Benjamin Graham
Benjamin Graham taught us that value investing is the best way to invest. He believed that investors could beat the market by buying companies at fair prices.
Graham wrote The Intelligent Investor in 1949, but the principles behind his investment strategy still hold true today.
His ideas include diversification, low fees, and avoiding excessive risk. He also emphasizes the importance of understanding the business model of any company before making an investment decision.
This book is a classic and should be required reading for everyone interested in investing.
Click here to check out The Intelligent Investor
5. The Richest Man In Babylon by George Clason
George Clason's book "The Richest Man In Babylon" shows readers how they can achieve wealth by learning from those who have gone before them. Learn how to invest wisely, save money, and protect yourself from scams and frauds.
Clason writes about how to avoid common mistakes made by other wealthy individuals. He provides practical tips on how to manage your finances effectively.
If you're looking to improve your financial situation, then you owe it to yourself to read this book.
Click here to check out The Richest Man in Babylon
6. Millionaire Next Door by Thomas J Stanley & William D Fiske
Stanley and Fiske share stories of millionaires living next door. From Bill Gates to Oprah Winfrey, these successful individuals show us how they became wealthy.
They explain how ordinary people can make extraordinary amounts of money. They also reveal the secrets of becoming a millionaire.
Millionaire Next Door is a must-read for anyone who wants to know how to get rich.
Click here to check out Millionaire Next Door
7. Rich Dads Cashflow Quadrant by Robert Kiyosaki
Robert Kiyosaki teaches us how to build wealth by following the cash flow quadrant. This book will help you understand where you currently stand in terms of building wealth.
You'll learn how to create more income streams so you can increase your net worth. You'll also discover how to reduce expenses so you don't spend more than you earn.
Click here to check out Rich Dads Cashflow Quadrant
8. The Complete Idiot’s Guide to Investing by Debra Johnson
Debra Johnson explains how to choose between stocks, bonds, and other investment vehicles. She also provides tips on how to pick good investments and avoid bad ones.
Johnson shares her personal experiences as well as lessons learned throughout her career. Her advice is easy to follow and she offers solid information from someone with real world experience.
Click here to check out The Complete Idiots Guide to Investing
9. The Automatic Millionaire by David Bach
David Bach wants to change the way we think about money. By changing our relationship with money, we can change our lives. David teaches us how to earn interest, save money, and create multiple streams of passive income.
He reveals the secrets behind his own success and how he has earned millions of dollars through various methods.
Click here to check out The Automatic Millionaire
10. The Total Money Make Over by Dave Ramsey
David Baches' second book, "The Total Money MakeOver," is a comprehensive plan to get out of debt, stay out of debt, and start building wealth faster than fast.
Dave Ramsey teaches us how to live within our means, pay off debts, and become financially free. His techniques are simple and easy to implement.
Click here to check out The Total Money Make Over
Summary
Throughout this post I have listed books which I think are some of the best for helping you learn to manage your money better. If you do decide you would want to purchase one of these books then consider using the links on my page. These links are affiliated links so when you make a purchase, Amazon will give me a small cut of the profits at no extra cost to yourself. Purchasing anything through the links in my blog directly supports me and Portfolio Hub.
Thanks for reading
FAQ
What are the best entrepreneur books you're reading?
When it comes to entrepreneur books, you may find some topics more interesting or practical than others. Regardless, reading these types of books helps you learn from other successful entrepreneurs' mistakes and take advantage of their lessons, so you too can build a profitable business of your own.
Source: shopify.com
How to manage your money at university
Learning how to budget as a student can also help reduce money worries. If you estimate your income and costs before going to uni, you could identify where you need to make savings or find extra income.
Source: thecompleteuniversityguide.co.uk
What Is the 50/20/30 Budget Rule? How It Works
Senator Elizabeth Warren popularized the so-called "50/20/30 budget rule" (sometimes labeled "50-30-20") in her book, All Your Worth: The Ultimate Lifetime Money Plan. The basic rule is to divide up after-tax income and allocate it to spend: 50% on needs, 30% on wants, and socking away 20% to savings.1 Here, we briefly profile this easy-to-follow budgeting plan.
Source: investopedia.com