The Best Books on Personal Finance

Introduction: So many people suggesting reading books is the best way to become better with your personal finance, right? Yes, we will also tell you the same. But when you are going to search for them, you find a lot of books claiming they are the best.

There we come, here are the list of best 5 books you should read if you want to do better or best with your personal finance.

The Richest Man in Babylon: by George S. Clason

This book is about the age old principles of money. But make no mistake, it’s one of the more educational books out there when it comes to personal finance. The Richest Man in Babylon was originally a collection of pamphlets given out to consumers by insurance companies, banks, etc many years ago.

They were first published in book form in the year 1926. Revised in 2010, this new edition is a quick, 92-page read. Setting personal financial rules doesn’t get any easier than that in our opinion.

Start with this book and thank me later.

The Millionaire Next Door:

by Thomas Stanley and William D. Danko

This book is actually a compilation of research done by the two authors in the profiles of ‘millionaires’. In this book, the authors compare the behaviour of those they call UAWs (Under Accumulators of Wealth) and those who are PAWs (Prodigious Accumulator of Wealth). Their findings, that millionaires are disproportionately clustered in middle-class and blue collar neighbourhoods and not in more affluent or white-collar communities, came as a surprise to the authors who anticipated the contrary.

Stanley and Danko’s book explains why, noting that high-income white-collar professions are more likely to devote their income to luxury goods or status items, thus neglecting savings and investments.

This book will surely widen up your vision about the ‘millionaires’.

Think And Grow Rich:

by Napoleon Hill

Among One of the original personal finance books, “Think and Grow Rich” was published in the year 1937, in the aftermath of the Great Depression. The lessons of the book are distilled from interviews with the most successful people of the time, including Henry Ford, John D. Rockefeller and Charles M. Schwab.
The writer takes their lessons and reworks them into small formulas that the everyday layman can follow. The book is not solely geared toward making someone financially successful, but successful in all aspects of life.

It will motivate you to chase after your wildest dreams, no matter how crazy they might sound.

The Automatic Millionaire:

by David Bach

This is one of the best books on how to become rich(if not the best).

The book starts with a powerful story of an average American
couple–he’s a low-level manager, she’s a beautician whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings.

Through their story you’ll learn the surprising fact that you cannot get rich with a budget! You have to have a plan to pay yourself first that is totally automatic, a plan that will automatically secure your future and pay for your present.

The Automatic Millionaire spent 31 weeks on the New York Times Bestseller List when it was published in 2004 and it’s sold more than 1.5 million copies. Recently updated, it’s still immensely popular.

Rich Dad Poor Dad:

by Robert Kiyosaki and Sharon Lechter

This book is by far the best book on personal finance considering every aspects. This 1997 book advocates the importance of financial literacy , financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence to improve one’s business and financial aptitude. Rich Dad Poor Dad is written in the style of a set of parables, ostensibly based on Writer’s life.

Conclusion: Nothing beats an old fashioned book when it comes to learning the about a serious topic thoroughly, including personal finance. These five books can help you get started on your journey into personal finance and mark my words, if you really want to excel, reading these is what is most important.