Personal finance is one of the important learning aspects every working adult will need to go through in order to understand their finances. Knowing how to set aside money for retirement, emergency, and insurance can play a huge role in protecting yourself. Books provide more in-depth information regarding individual niches and are the best resources to build knowledge as compared to watching Tiktok videos or Youtube. Knowing what personal finance books to read to start your financial journey can be immensely helpful. Here are 7 of the best personal finance books to read of all time.
The importance of reading Personal Finance Books
More than 40% of Americans do not have at least $1,000 to spend in an emergency. Credit card debt all around the world has been slowly creeping higher. Having good personal finance knowledge is really important at any stage of life. Each stage of life is different therefore picking up knowledge to build financial knowledge at every step of the way is important.
Why everyone should at least read one of these books
Unlike watching Youtube or Tiktok videos. Books provide an in-depth descriptive story that lets the reader have more detailed information that would have been missed out. It also provides more scenarios or examples which may be helpful in relating to a larger audience.
Here are the Top 7 Books to read on personal finance
These 7 books are one of the most digestible books to read for any beginner. It is relatable to beginners as their approach in their storytelling relates to almost all first-time learners.
Atomic Habits is the first book I recommend because it made a deep impact on my perspective on my business. The book focuses on the keyword making small changes, hence the word “Atomic Habits”. It focuses on making people find small changes (even 1% of improvement or change) that will compound over time and could greatly turn the table around between winner and loser. The book consistently emphasizes the importance of being patient when doing anything in whatever you aim to pursue.
Rich Dad Poor Dad
Rich Dad Poor Dad books by Robert Kiyosaki is an award-winning book for beginners to learn about money-making. One of the main reasons most people should read Rich Dad Poor Dad is because they are most likely not thinking about money in the right manner. Money isn’t merely a means for purchasing material goods, as the book makes abundantly clear. Not only that but what we like about the books also is it allows readers to understand sophisticated terms about investing.
One of the most realistic books on personal finance. Rich Dad Poor Dad emphasizes the difference between the mindset between the rich and the poor. It emphasizes that anyone can become rich if they have a strong mentality to work toward getting smart and focused on their finance. It goes through the rich dad’s approach to investing and talks to the author on the steps he took in protecting his wealth.
If you would like to know more about getting started on setting your personal finance straight. Financial freedom is the right book for you. The book focuses on how one can take the FIRE movement approach to build wealth. From starting a small side hustle to owning multiple assets. This book is great for those who would like a step-by-step guide toward financial freedom.
Rich Dad’s Guide to Investing
Rich Dad’s guide to investing is a great book to learn about investing. It starts off with learning about how one must think before starting their investing journey. What I like about the book is how it portrays how the rich and the poor have different perspectives and understanding toward investing. Also illustrates how the rich know what is the best investment for them and knowing how the rich learn about investing.
Psychology of Money
Oftentimes, we are not taught how money works and all we did with the money we earn is spent. Money success doesn’t always depend on your knowledge. It has to do with your behavior. Even for extremely intelligent people, conduct is difficult to teach. Understanding the psychology of Money can make a difference between the Rich and Poor. Finance is often taught as a math-based subject. Where statistics and formulae tell us exactly what to do with regard to investment, personal finance, and corporate decisions. On a spreadsheet, however, people do not make financial decisions in the real world. They are made around the dinner table or in a meeting space, where personal history, your particular worldview, ego, pride, marketing, and strange incentives are all mixed up.
This book is great for all readers who don’t understand how to properly use their money and would like to better manage their money. Psychology of Money emphasizes the idea of using money to make money which is not widely understood.
What other books to read on Personal Finance
Personal finance is an ever-learning journey in improving one’s financial well-being. If you would like to find out other books to read regarding personal finance. Do check out our books to read at HustleVentureSG. Where we find the best books that we have read and recommend them to our audiences.