Personal finances can be confusing. There is a lot of information available about making and sticking to a budget, how to invest for retirement, what debt to pay off first, etc., etc. Books, television shows, websites, and financial advisors abound, not to mention the fact that everyone’s financial needs are different, so not every system or piece of advice works for every family. Even for the purposes of this blog, there is simply too much information to provide readers with the “best” advice. But educating yourself about personal finance is a very important part of securing your financial future. We’ve done some research and come up with five personal finance books that are worth reading.
Total Money Makeover, Dave Ramsey
Dave Ramsey takes a common sense approach. He recommends not buying anything on credit, paying cash whenever possible, and build an emergency fund.
Rich Dad Poor Dad, Robert Kiyosaki
Kiyosaki encourages readers to achieve financial independence through investing and educating yourself about finance. The author infuses a lot of his own personal experiences to illustrate his ideas.
Your Money or Your Life, Vicki Robin
This book boasts “9 steps to transforming your relationship with money and achieving financial independence.” The authors advocate cutting expenses and generating passive income.
The Millionaire Next Door, Thomas J. Stanley and William D. Danko
Stanley and Danko researched U.S. households with a net worth of $1 million or more. They uncovered that many wealthy individuals are small business owners, live below their means, and save money. The book covers all of these best practices.
Think and Grow Rich, Napoleon Hill
Even though it was written in 1930, the information in Think and Grow Rich is timeless. The author interviewed more than 40 millionaires, and compiled and passed on their secrets to success.