Must Read Books For Every Personal Finance Beginner

My Strategic Dollar M$D Favorites, M$D Recommended Books, Personal Finance 3 Comments

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Successful people read books. Not just any books, they read self-improvement books. Successful people in any field of study are constantly learning. One thing I’ve come to grips with over the past several years is that I’ll never be the smartest person in the room but I will be the person that knows they control how much they learn.

I’ve read several finance books from beginner personal finance books to real estate investment books to books on the habits of successful people. I want to continue to grow. I know you do too! Make a commitment to learning. I don’t think anybody looks back on their life and says – “wow, I wish I wouldn’t have read so many books.”

 

must read books for every personal finance beginner

 

Here are some of my favorite books:

Rich Dad, Poor Dad

I was introduced to Rich Dad, Poor Dad by my mentor. This book changed my perspective on money and how intertwined it is with society. It taught me that the way people perceive your financial situation doesn’t matter. Instead, work hard to make your money work for you. Make sacrifices today and you’ll be grateful later. It also teaches valuable lessons about how to manage personal finances through lessons applied through educating your children. If you’re questioning your path to financial freedom, I would start here.

The Richest Man In Babylon

If you’re looking for a book to give you specific information on stocks, bonds, investing, real estate or anything other finance topic, this probably isn’t the book for you. If you’re looking for a book that is a quick read and is full of wisdom in easy to digest and entertaining stories, this is the book for you. I would personally read this after Rich Dad, Poor Dad because I feel it builds off the lessons taught by Robert Kiyosaki.

Think And Grow Rich

Think and Grow Rich helps reframe your mind to think about your aspirations in positive, actionable and definitive terms. All actions begin in your mind. It all starts with wrapping your head around what you want, focus on how to get there and convince yourself that you’ll be successful. This book will teach you how to take control of your subconscious mind and mold it into a resource for visualizing your successes.

Dave Ramsey – The Total Money Makeover

I don’t agree with everything Dave Ramsey says. For instance, I think certain types of debt can be used to help build your wealth. However, I love the way The Total Money Makeover outlines the steps to free yourself from the control money can have over you. Dave walks you through 7 steps to get out of debt, stay debt free, saving for your future, investing and increasing cash flow and income.

The Book on Investing In Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People’s Money

This book obviously isn’t strictly about personal finance management, but it’s a great one. When talking to new investors, one of the topics that comes up is how they have no money to invest. When that comes up, I would generally recommend that person spend some time readying the 4 books listed above to get a hold on their financial situation. If they are in need of some structure and direction, these books will push them down the right path. If they’re already on the right path and just need a little encouragement this would be the book I would recommend next. Brandon Turner over at Bigger Pockets does a fantastic job outlining strategic ways to get started investing in real estate even if you don’t have the 20% down payment to get started.

Have you read any books that have helped you with your financial journey?

-My Strategic Dollar

 

Comments 3

  1. Yes, yes, yes! Dave Ramsey and Robert Kiyosaki were household names in my middle and high school years. Still need to get Brandon Turner’s book though. Great list!

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