Whichever way your financial life is in now, you must read personal finance books to make it even better. If you aren’t financially stable, that stress can penetrate into every aspect of your life. If you didn’t achieve the financial goals you had set for yourself at the beginning of this year, now is the time to start reflecting and learning exactly what went wrong.
To do that, you need the help of some experts. So start planning for a healthier year ahead by checking out a few of these must read personal finance books for a better 2018.
Must Read Personal Finance Books for a Better 2018
Rich Dad Poor Dad by Robert Kiyosaki
Every Must Read personal finance book list needs to include Rich Dad Poor Dad by Robert Kiyosaki. It has become an instant classic for the perfect way that it teaches the fundamental financial lessons we all need.
The genius of Kiyosaki’s book comes from his comparison of the ‘rich dad’ and the ‘poor dad’ from the book’s title.
The two dads lead very different lives and start from very different positions. Ultimately, the ‘rich dad’ is not the one who started out in a privileged position but the one who worked hard and made smart choices about his money.
The key lesson is not that we all need to pull ourselves up by our own bootstraps. Rather, it’s the important idea that no matter where you start out in life, smart money habits and a healthy dose of ambition will take you far.
This book is much more than a source of inspiration, though. Kiyosaki also shows exactly what kind of habits you need to develop—and which ones you need to get rid of in order to follow your own version of the rich dad’s path. So it’s equal parts inspiration and practical guidance.
So it’s equal parts inspiration and practical guidance.
The Automatic Millionaire by David Bach
Bach’s revolutionary new guide to achieving financial success was an instant bestseller. Since its first release over 10 years ago, it has been updated and fine-tuned to keep it just as relevant today as it was a decade ago.
So what is it that makes this book so powerful and widely read?
It’s a combination of different factors. First, the family he uses as an example is a statistically accurate depiction of the average American couple.
Their joint income is around $55,000 per year. They have two kids. And they work full-time, low-level jobs. What makes them different is that they use Bach’s simplified system to avoid debt and grow their money.
Through that system, they are able to put both of their kids through college, own two homes, and retire at the age of 55 with over $1 million put away in retirement savings.
If this book teaches you anything, it’s the fact that there are no excuses for not going after the life that you really want. But more importantly, this book will also teach you exactly how to do it!
The Intelligent Investor by Benjamin Graham
Benjamin Graham is one of the most important names in investing. If you spend just a few hours researching the fundamentals of investing, his name is going to pop up more than once. And there’s good reason for it.
He literally wrote the book on value investing.
This is that book. In the Intelligent Investor, Graham lays out the principles of creating a strong investment portfolio that can weather any storm and leave you financially stable well into your retirement years.
The method he is credited with inventing, value investing, is not a get rich quick scheme.
This is about creating a smart balance of investments that will keep your overall return steadily growing so that you have a constant stream of healthy income.
A value investor thinks long-term health, not short-term instant gratification. This kind of thinking can also benefit the other areas of your financial life as well.
You should read this and other classic books on money that every financial expert swears by. These books form the fundamental principles of financial success.
They aren’t always written in as accessible a tone as some of the modern personal finance books but the lessons they teach are invaluable and are sure to set you on the right track.
Mindful Money by Jonathan K Deyoe
Deyoe is one of the most qualified and knowledgeable voices in the finance world. He works in wealth management and investing when he’s not writing remarkable books like Mindful Money: Simple Practices for Reaching Your Financial Goals and Increasing Your Happiness Dividend.
This book really emphasizes a more holistic view of money. That is, it shows how money is deeply connected with every other aspect of our life. But it doesn’t stop there.
What really sets this book apart is the way that it helps you craft a totally unique financial plan that actually incorporates your beliefs, values, and dreams.
Unlike other financial plans that tend to be purely rational and not at all related to your actual needs and wants, Deyoe’s approach will leave you with a plan you can actually feel good about following.
That’s because he reframes your thinking to focus on actual life satisfaction through financial stability rather than just stability for its own sake. It’s definitely a book we could all use in our lives.
The greatest books inspire us to live our lives better and do what we truly want to do. The greatest personal finance books are no different.
They help us make sense of all the complicated and murky processes that are involved in our money. If you are sick and tired of constantly stressing about your money, any of the books above will be a great place to start finally regaining control in 2018!
If this list has inspired you, make sure you find all the relevant financial resources that are out there.
Lance @ My Strategic Dollar says
All great books! I’m constantly looking for new books to throw into my Amazon cart so when I finish what I have, I can just order the next one. Thanks for sharing!
Lance, I liked the idea of owning good books. But most of these books I read from Library, on a 3 weeks ownership 🙂 When I feel the need of reading a book again I’ll place a hold on the book at the library.
Daniel Williams says
Great recommendations! “Rich Dad Poor Dad” was the first book I read on personal finance, and it’s had a transformational impact on my financial life.
It did impact my financial thinking as well. Very well written book with differences of spending vs saving mentality explained in depth