Do you Know How to Manage Your Money? if the answer is “NO” then I have a List of Best Personal Finance Books that can help You.
If You Want to be Rich or If you Want to be Financially Free or If you Want to Invest in the Stock Market then These Personal Finance Books will Help you in Achieving your Goal.
When we talk about understanding how to manage money, personal finance is one of the most essential skills you can learn. But without any guidance, it is difficult for us to understand the value of handling our money and using it to make even more.
Nothing beats a book when it comes to learning about a particular subject, including personal finance. These eight Best Personal Finance Books can help you get started on your journey into personal finance.
8 Best Personal Finance Books
1. The Intelligent Investor – by Benjamin Graham and Jason Zweig
Benjamin Graham is considered The Father of Value Investing, an investment approach he began teaching at Columbia Business School in 1928.
The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide.
Graham’s philosophy of “value investing”, which shields investors from substantial error and teaches them to develop long-term strategies—has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
“By far the best book on investing ever written.”
The Intelligent Investor is one of the Best Personal Finance Books you will ever read on how to reach your financial goals.
Learn More About: How to Invest in US Stocks From India
Learnings From The Intelligent Investor:
- The intelligent investor is one who is prudent with his business and invests based on amply researched facts and not because of a hot new trend that might crash and cost him all his money tomorrow
- The intelligent investor invests in bonds and various funds in a bid to stay ahead of the curve and reduce risk of loss, he also makes his approach airtight by enlisting the services of a financial adviser
- Anyone can become an investor if they are willing to put in the effort to do as much research as is possible to pick winning stocks and funds
- The enterprising investor doubles as both an intelligent investor and a risk-taker who takes bold and cunning steps to stay ahead of the market through the use of nifty stock market tools
- The intelligent investor is always careful to make sure his investments are working for his best interests and he ensures this by painstakingly sifting through supposed “good deals” and picking the safest bet
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2. Rich Dad Poor Dad – by Robert Kiyosaki
In Rich Dad Poor Dad, Author Robert Kiyosaki advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing your financial intelligence (financial IQ) to improve your business and financial aptitude.
Rich Dad Poor Dad is Robert’s story of growing up with two dads — his real father and the father of his best friend, his rich dad and the ways in which both men shaped his thoughts about money and investing.
The Rat race is a race where you have to work hard to catch up with bills and taxes.
The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
This book is Recommended by Many Personalities as One of the Best Personal Finance Books.
Learnings From Rich Dad Poor Dad:
- People who are stuck in the rat race run endlessly in a loop between fear and greed, making irrational decisions
- Standard education systems don’t teach financial knowledge; self-education is the key to financial success
- Standard education systems don’t teach financial knowledge; self-education is the key to financial success
- The road to wealth creation is long and cold; learn how to stay motivated by keeping your eyes on the prize
- Your profession is not as significant in wealth creation as your business
- Overcoming obstacles that can cause financial ruins despite your financial literacy
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3. Think and Grow Rich – by Napoleon Hill
Think And Grow Rich has earned itself the reputation of being considered a textbook for actionable techniques that can help one get better at doing anything, not just by rich and wealthy, but also by people doing wonderful work in their respective fields.
There are hundreds and thousands of successful people in the world who can vouch for the contents of this book.
The book details the most fundamental questions that once bothered the author, Napoleon Hill.
The author once set out on a personal quest to find out what really made some people so successful.
Why is it that some people manage to remain healthy, happy and financially independent, all at the same time?
Why, after all, do some end up being called lucky? The answers, no wonder, had to be no less than revelations.
For more than a decade, the author interviewed some of the wealthiest and most successful people in the world.
It was based on what the author learnt in the process from all these people when asked about how they achieved not just great riches but also personal wellbeing.
The author formulated hundreds and thousands of answers, into concise principles which when acted upon, many claims, can help one achieve unprecedented success.
“Whatever the mind can conceive and believe, it can achieve.”
Think and Grow Rich teaches not just concepts but also methods. It is not a book that a reader can use for one-time consumption. The book, even the author recommends, has to be read one chapter at a time and in sequence.
Several readers and even some motivational speakers claim to have been reading this book over and over again, few pages at a time, for a long time now.
To date, it remains the number one self-help book in the world, as far as sales are concerned!
Learnings From Think and Grow Rich:
- Create a plan and recite it to yourself twice a day to create desire at an unwavering level.
- Autosuggestion can help you program your brain to believe whatever you want to become true. Use this to create your future plans and give them extra power.
- Give yourself demands, tell yourself that you’re going to be confident in your idea and you’re not going to stop when things get tough. This is your verbal manifesto, a promise to yourself of what you’re going to do to get to where you need to be.
- There are two types of knowledge and both are powerful: one is general and one is specialized. Specialized knowledge will help you take huge leaps forward in your particular niche.
- Be a leader and make a firm plan
- Focus on the opinions of those who matter and avoid listening to what everyone thinks all the time.
- Avoid procrastination, be firm in your decisions
- You are the master of your destiny. You can influence, direct, and control your own environment. You can make your life what you want it to be
- Learn to believe in your inner voice, or your sixth sense, in order to harness its power.
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4. The Richest Man in Babylon – by George Samuel Clason
From the importance of savings to the essentials on how to become wealthy, this collection of famous Babylonian parables imparts timeless financial wisdom.
It offers insights on how to become wealthy and how to attract good luck and discusses the five laws of gold.
One of the Best Personal Finance Books to understanding finances and a powerhouse of time-tested principles to gain and retain personal wealth.
Learnings From The Richest Man in Babylon:
- Always save at least one-tenth of your income. Invest your savings. Put your money to work for you.
- Be thrifty. Budget carefully. Do not spend on needless things.
- Seek the counsel of knowledgeable experts before you invest.
- Never put the principal that you invested at unseemly risk.
- Increase your knowledge, expertise and skills, so you can earn more money.
- Good luck comes to those who know how to seize opportunities and act on them quickly.
- Be cautious with your money. Lend it only to those who are sure to repay it.
- Take comfort in hard work. It is your best friend.
- If you are determined to get ahead, you will.
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5. The Total Money Makeover – by Dave Ramsey
Okay, folks, do you want to turn those fat and flabby expenses into a well-toned budget?
Do you want to transform your sad and skinny little bank account into a bulked-up cash machine?
Then get with the program, people. There’s one sure way to whip your finances into shape, and that’s with The Total Money Makeover.
By now, you’ve heard all the nutty get-rich-quick schemes, the fiscal diet fads that leave you with a lot of kooky ideas but not a penny in your pocket.
If you’re tired of the lies and sick of the false promises, take a look at this—it’s the simplest, most straightforward game plan for completely making over your money habits. And it’s based on results, not pie-in-the-sky fantasies.
Learnings From The Total Money Makeover:
- Save Your 2-6 Month Salary as a Starter Emergency Fund
- Invest 15% of Your Income in Retirement
- Pay Your Smallest Debt First
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6. The Dhandho Investor – by Mohnish Pabrai
A comprehensive value investing framework for the individual investor In a straightforward and accessible manner.
The Dhandho Investor lays out the powerful framework of value investing.
Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market.
The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger.
Readers will be introduced to important value investing concepts such as “Heads, I win! Tails, I don’t lose that much!,” “Few Bets, Big Bets, Infrequent Bets,” Abhimanyu’s dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks.
Using a light, entertaining style, Pabrai lays out the Dhandho framework in an easy to use format. Any investor who adopts the framework is bound to improve on results and soundly beat the markets and most professionals.
Learnings From The Dhandho Investor:
- Look for Low-Risk, High-Uncertainty Situations
- Look for Copycats, Not Innovators
- Mastering the Art of Selling
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7. I Will Teach You to be Rich – by Ramit Sethi
At last, for a generation that’s materially ambitious yet financially clueless comes I Will Teach You To Be Rich, Ramit Sethi’s 6-week personal finance program for 20-to-35-year-olds.
A completely practical approach delivered with a nonjudgmental style that makes readers want to do what Sethi says, it is based around the four pillars of personal finance–banking, saving, budgeting, and investing–and the wealth-building ideas of personal entrepreneurship.
Sethi covers how to save time by not wasting it managing money; the guns and cars myth of credit cards; how to negotiate like an Indian–the conversation begins with “no”; why “Budgeting Doesn’t Have to Suck!”; how to get things rolling–for real–with only $20; what most people don’t understand about taxes; how to get a CEO to take you out to lunch; how to avoid the Super Mario Brothers trap by making your savings work harder than you do; the difference between cheap and frugal; the hidden relationship between money and food.
Not to mention his first key lesson: Getting started is more important than being the smartest person in the room. Integrated with his website, where readers can use interactive charts, follow up on the latest information, and join the community, it is a hip blueprint to building wealth and financial security.
“Compounding is mankind’s greatest invention because it allows for the reliable, systematic accumulation of wealth.”
This is one of the Best Personal Finance Books that will give you Step by Step Guide on What to Do to Improve your Financial Life.
Learnings From I Will Teach You to be Rich:
- You can save yourself a considerable amount of money by learning the skill of negotiation.
- Investing is the single most effective way to get rich
- You can save while sleeping by automating your accounts
- You don’t need a financial adviser to make good financial predictions and decisions
- You don’t have to be rich to invest
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8. 100 Baggers: Stocks That Return 100-to-1 and How To Find Them – by Christopher W. Mayer
This book is about 100-baggers. These are stocks that return $100 for every $1 invested. That means a $10,000 investment turns into $1 million.
Chris Mayer can help you find them. It sounds like an outrageous quest with a wildly improbable chance of success. But when Mayer studied 100-baggers of the past, definite patterns emerged.
In 100-Baggers, you will learn the key characteristics of 100-baggers why anybody can do this.
It is truly an everyman s approach. You don’t need an MBA or a finance degree. Some basic financial concepts are all you need a number of crutches or techniques that can help you get more out of your stocks and investing.
The emphasis is always on the practical, so there are many stories and anecdotes to help illustrate important points.
To make money in stocks you must have “the vision to see them, the courage to buy them and the patience to hold them”.
You should read this book if you want to get more out of your stocks. Even if you never get a 100-bagger, this Personal Finance Book will help you turn up big winners and keep you away from losers and sleepy stocks that go nowhere.
Learnings From 100 Baggers:
- The Key to Making Superior Returns in the Stock Market Is Buying the Right Stocks and Holding on to Them
- Investors should focus mainly on the businesses, and not too much on stock price movements.
- A company needs an extended period of high growth to become a 100-bagger.
- Small companies can grow by 10 to 20 times and still have room for even more growth.
- Sometimes, we need to look beyond earnings.
- A company needs a consistently high return on equity to compound its capital in order to become a 100-bagger.
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For Beginners Pick One of these Best Personal Finance Books and Start reading and Implementing learnings from that book in Your Life.
As Walt Disney said “There is more treasure in books than in all the pirate’s loot on Treasure Island.”
Let me Know How Many Books Have you Read and What’s Your Learnings From That Books.