Financial literacy is a must-have skill in today’s world. Financial literacy enables you to organize your finances better and make better financial decisions. One way to obtain a better financial understanding is through reading.
You can find many financial books to improve your financial literacy. From the many choices of financial books on the market, here are the top 10 must-read books:
1. The Total Money Makeover - Dave Ramsey
The Total Money Makeover is a suitable reading if you have difficulty getting rid of debt. In this book, you will find tips to pay off endless debts. Instead of owing and paying through credit cards or installments, Dave Ramsey will advise you to buy goods in cash. Not only that, but Dave Ramsey's book also provides knowledge of financial well-being and investment related matters.
2. Rich Dad Poor Dad - Robert T. Kiyosaki
Robert T. Kiyosaki does not explain financial management in this book. Instead, this book tells you how to change the mindset in financial management. By reading Rich Dad Poor Dad, you will be motivated to conduct better personal financial management.
3. Personal Finance for Dummies - Eric Tyson
The ‘Dummies’ series books are the right type of reading if you are just a novice in a field, including the Personal Finance for Dummies. This book can assist you in understanding the ins and outs of financial literacy. This book explains many topics, including how to save money, determine budgets, insurance, and investment.
4. Happy Money: The Science of Happier Spending - Elizabeth Dunn and Michael Norton
This book is specifically aimed at those of you who have large amounts of excess money, especially, when you are unsatisfied with your usual money-spending ways. Elizabeth Dunn and Michael Norton invite you to sharpen your intuition in feelings for mistakes better when you spend your money.
5. The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money - Carl Richards
Carl Richards teaches you to identify the habits that often interfere with financial management decision making. Carl, in his book, The Behavior Gap, states that seemingly trivial decision making can sabotage your success in managing finances. Founder of Sensible Money, Dana Anspach, states that this book is the right choice in managing the mindset of novice investors.
6. The Science of Getting Rich - Wallace Wattle
Although it is labeled 'science,' you will not find anything related to science in this book first published in 1910. Wallace, in The Science of Getting Rich, states that the means to obtain wealth comes from the person’s mindset. For example, when you think that money is the source of problems, wealth will never be in your grasp.
7. The Richest Man In Babylon - George S. Clason
The Richest Man In Babylon is similar to other financial books, in a sense it invites readers to save money rather than spend it. Also, this book teaches that social actions, such as helping poor people or those who are experiencing difficulties, are also equally important in financial management.
8. The Millionaire Next Door - Thomas J. Stanley and William D. Danko
The duo writer of The Millionaire Next Door has curated data when preparing this book by researching Americans with a net income of at least US $ 1 million. Thus, this book is perfect when you want to build a simple personal financial foundation with easy to understand instructions. You can easily apply these instructions in the real world.
9. The Money Book for the Young, Fabulous & Broke - Suze Orman
Most financial books are made to prepare the future and retire with style. However, the book written by Suze Orman offers another mindset. This book is specifically designed for millennials to deal with problems when managing finances.
10. Think and Grow Rich - Napoleon Hill
"Greed is good," that is a quote you will get when reading this book. However, the greed is not just any ordinary greed, but greed that is balanced with the willingness to share the wealth that is owned. That is the conclusion obtained by Napoleon Hill who compiled this book after previously interviewing world millionaires and philanthropic personas.
Those are the 10 must-read books to increase financial literacy. Of those 10 books, which one have you read?