Some people are born with the instinct to keep track of every expense they make, while others don’t think of it so much. Whether it is due to them being poor at maths or being not too careful with their expense, such people often end up with a lot of financial liabilities and debts. Therefore to help such people as well as others in managing their finances, we have listed down top 6 money books which you can read:
Think and Grow Rich
One of the classic money books of all time, think and grow rich by Napolean Hill has been written after the author interviewed 500+ successful people of all time. The book discusses the basics of financial planning and guides the reader about how to design and implement a financial plan early in life to attain financial independence at a later stage. The book compared to the other books on money doesn’t discuss adopting and having good financial habits. It instead helps the user formulate plans which can help them achieve success in the long run.
The Psychology of Investing
The psychology of investing challenges the thought process of people who believe that it takes time, and money to make more money. This book written by John Nofsinger instead states that one is only required to have an efficient financial plan in place and our economic freedom dramatically depends on our subconscious financial choices. The book defines in great detail, the financial pitfalls we often fall into and gives us a way to avoid those and hence progress on the path of financial independence.
The Total Money Makeover
This money book by Dave Ramsey guides you through the process of achieving financial independence and at the same time helps you overcome any debts you have. Readers all over the globe tend to have liked Ramsey’s work, as he has presented the path to financial stability in seven easy steps which anybody can follow. The book towards the end also dwells into topics such as retirements and helps the readers plan and create a retirement fund.
The Investment Answer
Written by Gordon Murray and Daniel Goldie, ‘The Investment Answer’ explains why investment is the key to any financial planning model. The book tends to shun those who believe that investing is a complicated process and presents several investment schemes and models guiding the user with where to invest. The book doesn’t rush rather slowly takes the author on a journey towards a financially secure future answering any questions they may have on the way.
Thinking Fast and Slow
Written by a Nobel Prize Winner, Daniel Kahneman, Thinking Fast and Slow, the book explains two phases of a human. The first phase is where we make sudden spontaneous decisions driven by emotions, while the second phase is the one which is comparatively slow and is operated by logic. The book explains how one should maintain a balance between the two to make wise financial decisions. This money book is a must-read for anyone willing to grasp the psychology behind the investment.
So these are the top 5 money books which we believe can help anyone understand financial planning, while at the same time helping them attain financial security. If there are other books you would like to recommend, don’t forget to mention the name in the comment section below.
