Must Reads for Personal Finance
If you are anything like me, then you are not a huge book reader. However, when an intriguing book comes across my path, I will give it some of my time. Thus, what this article will be about! People consume information in a variety of forms, so I figured I would lend a helping hand in the realm of personal finance and give you a few excellent books that can spark growth. I’ll try to limit the “spoiler” aspect of it, but no guarantees, so without further delay, here are my top reads.
The Total Money Makeover – Dave Ramsey
The first and probably most obvious, the book that started it all, The Total Money Makeover. This book I highly recommend for people who are looking for a way to start their journey out of financial hardship, as it offers realistic goals and steps, slowly guiding you into financial freedom. Even if you are not in financial trouble, this book will show you how to continue building wealth and give back.
The book does reference the Bible, but not in an annoying way that it tries to push religion onto the reader. It keeps the ideas grounded to the notion that if you work hard, stick to a plan, that the goal of financial freedom is possible no matter the situation.
Rich Dad Poor Dad – Robert Kiyosaki
This book is a fantastic read because I have a feeling it appeals to many people in the United States. The rich dad is portrayed as a person who is able to grow their money and make it work for them. On the flip side, the poor dad is not poor in the sense he has nothing, but that he is unable to learn the language of money and lives his whole life living paycheck to paycheck.
I will warn readers that towards the middle and end it takes a real estate turn to it as the author is an investor in real estate. If you read through the first half of the book you will get the feel for the message trying to be portrayed, but reading the entire book is certainly worth your time.
The Big Short – Michael Lewis
Lastly, The Big Short was turned into a movie, but it portrays on a macro level the dangers of lending and how people purchased more than they could afford. Obviously there is the other message of large banks recklessly lending and creating derivatives, but it has practical use in personal finance as well. Borrowing creates a slave to the lender, and people were uneducated during this lending crisis, forcing many to give up their homes and more when it was all said and done. Watching the movie would suffice but the book is better in my opinion. Feel free to look up related material on the matter as you can go as deep as you’d like on this topic.
I hope this list gave you some ideas on what to read next! I promise that these are excellent reads and will not be a waste of your time. Learning about the different parts of personal finance is crucial in getting a well rounded opinion.