There are numerous studies on the habits of rich people. We all ask ourselves: How did they get so rich? Well, rich people seem to have a number of habits in common and one of those is reading or taking the time personal finance books to constantly educate themselves on different topics related to the business that they are in, money, or related interests.
To begin your reading about finance, here is a list of five personal finance books that may help people create their own personal financial philosophy. The books are both very recently published or have been in existence for a long period of time.
These personal finance books touch on the topics such as: the psychology behind your money choices, developing good money habits, tough love, retirement, and a somewhat metaphysical approach to money.
1. ‘One-Page Financial Plan’
Carl Richards who is a columnist for the New York Times wrote a book called: “The One-Page Financial Plan — A Simple Way To Be Smart About Your Money.”
This book is helpful when you are looking for clarity on your big financial picture. It is a fairly quick read and gives some great action items for people needing to frame their finances in a way that helps them with their future financial goals.
2. ‘Your Money or Your Life’
‘Your Money or Your Life” is a somewhat dry book that has one of the most important financial philosophies that anyone who works should become aware of and think about. You just need to read this book once and remember-it is a bit dry, but it’s super important that you understand the underlying concepts in this book.
The book offers a compelling and thought provoking conversation on trading time for money.
3. ‘The Total Money Makeover’
Regardless of how you feel about Dave Ramsey, his book “The Total Money Makeover” is worth reading and it’s also a fairly quick read.
After reading this book you will most likely start dropping the phrase “Gazelle intense” in every financial discussion that you have for the next year.
4. ‘You’re Broke Because You Want To Be’
Larry Winget’s “You’re Broke Because You Want To Be” is among the great personal finance books worth reading.
I’m not really sure where Larry has been for awhile but this book is a brash and frank conversation about individual responsibility and money decisions. He has gone through bankruptcy and has even sold blood to make ends meet. He’s pretty intense.
5. ‘The Richest Man in Babylon’
“The Richest Man in Babylon” by George S. Clayson is a long-standing classic about money and life told through the richest man in Babylon’s personal story. This classic is still easy to understand and relate to even though it has been a number of years since its initial publication.
Reading personal finance books is a wonderful and free way to educate oneself about money, how finances work, and what makes you do what you do with your own money.
Make a point of continuing to embrace ongoing education by reading personal finance books and be comfortable with knowing that you don’t know everything about money. It’s an ongoing process with constant adjustments because your financial situation will continue to ebb and flow and change from day to day and week to week.
Michelle Jackson is a personal finance and lifestyle blogger sharing her story at The Shop My Closet Project. Her goal is to help people cultivate their best life. When she’s not blogging or podcasting for Girl Gone Frugal you can find her riding her bike, going for coffee, or hiking in the mountains.