Books are still great. In spite of all the advances in technology books offer the greatest platform for learning. They offer an opportunity to tackle subjects in depth from the view of others. I believe leaders are readers and spend a lot of time on books. We’ve put together a list for you with the 10 books you should read on personal finance.
Finances are one of the most important and contentious issues we have to deal with. So any time spent reading on the subject of bettering your finances cannot be considered a waste. While there are (probably) a million books out there on the subject, we’ve created a list of 10 you must read.
Robert Kiyosaki is perhaps the most well-known writer on the issues of personal finance and this whole list could easily have been a list of his books alone. Kiyosaki covers finance advice for individuals, entrepreneurs and investors alike.
The book Rich dad, poor dad covers the financial perspectives he was taught by his father (who he calls poor dad) and his best friend’s father (who he calls rich dad). The distinction between the two is their approach to money and wealth and he uses the stories of these distinctions to teach financial literacy to the ordinary man. The book is a vital lesson and if you’ve never read any other personal finance book this is where to start.
The Richest man in Babylon is a parable. A tale of a man named Arkad who sought lessons on wealth. We learn lessons on personal finance and wealth accumulation through the eyes of Arkad. The stories are simple and relatable and this is what makes Clason’s book so effective.
It teaches the most important financial principles at the most basic level. How to handle things like household finance and debt as well as business and investment. Through Arkad’s story we receive a complete education in personal finance.
The automatic millionaire is an absolute must read. Bach has a simple principle; automate your wealth accumulation. The book selves into specific strategies and how to optimize for the different aspects of finances and wealth.
The book is very much a practical how-to guide and as a result the information and strategies are tailored to the American market. However the principles behind his strategies apply universally. Yes, even in Zimbabwe.
Napoleon Hill’s classic book is still one of the best today. I’ve come across someone who is successful day they would rather read Think and grow rich 10 times than jump to new books on the subject of getting rich. The title draws much criticism as many say it is impossible to think and become and rich.
Hill believes and teaches precisely that. It’s a book about mind set towards money and is definitely one of the most important books you will ever read. In any category. We are encouraged to understand how our thoughts determine our actions and our actions determine our financial success or lack thereof.
I don’t see this book mentioned enough when people talk about finance and it’s a shame. Mike Masterson gives us a refreshing look at how we can improve our financial lives. He’s a very practical man. His book teaches us to take a strategic look at our wealth creation efforts.
The reason I rate this book so highly is that it moves beyond the find your passion message and teaches how to make money in the current spaces we are. I especially love his 3 step system for evaluating business opportunities and investments.
To call them secrets is a bit of a stretch but Eker does a very good job of highlighting the key differences between the thoughts of the wealthy and the average. After reading a few of these books you come to realize that most of them are about attitude – and rightly so.
Eker’s 17 wealth files take you through a fundamental secret about the wealth mentality. In each chapter he looks at the wealth mind set position on the subject, the poverty mind set position on the subject and how to bridge the gap between the two.
I know, I didn’t want to do it either. There’s a million books out there with millionaire in the title and having two of them back to back makes my suggestions questionable. However the millionaire next door is an empirical study into the behaviours and minds of millionaires.
Stanley does a study of millionaires and decamillionaires in America to identify common characteristics and behaviours. It’s eye opening in that the numbers tell the story. So if you’re a believer in “numbers don’t lie” this is the book for you. If you ever hear statistics about millionaires they likely come from Stanley’s empirical study.
For those of a spiritual or religious affiliation the title of this book of this book may turn people away. However this is the one book that handles the religious perspectives around wealth management and creation.
Wattles reconciles some of the seeming conflicting messages around religious belief and money and attaches them to the teachings we see on mind set and strategies. So while the title is the Science of Getting Rich, the ideas in the book are much more spiritual than scientific.
Sincero shares her tale of self-discovery in You are a badass. She followed it up with you are a bad ass at making money. In this book she balances the mindset and attitude schools of thought on the subject of making money.
Of course saving money is fundamental but making money is where it’s really at. Jen’s approach is less rigid and demure than the approach of most books on this list or on the subject as a whole. So you’ll especially like this one if you consider yourself a free spirit.
The book is written for young people in their 20s but it’s 99 tips are good for any age. You’re never too old to learn a good lesson right? Siegel addresses the lack of financial education in schools. Both secondary and tertiary education. He saw this manifest through his own 5 children and hence penned this book.
The book is a short read, under 200 pages and doesn’t go over and over concepts. The 99 tips are divided into 8 sections to help group the tips and lessons to be effectively understood. This is one of those books it’s a good idea to read more than once.
Those are 10 personal finance books that you should read. How many of these have you read? Know any others that you think apply to the Zimbabwean context? Get in touch with us. We’d love to hear from you.