The 7 Best Personal Finance Books Out There

Even after working hard at what we do, most people still do not have a lot of money left over. Saving up money is something that most people struggle with.

The size of your income doesn’t really pay that big of a role here. People earning 30K a year could be saving and investing more than those earning a 100K a year and spend most of their income.

The statistics are drastic – only 39% of Americans have money set aside to cover a $1,000 emergency (source). So in essence, if you want to become richer than your friends or coworkers, all you really need to do is start saving and investing.

Below you’ll find a selection of the best books to kick start your early retirement.

1. Multiple streams of income by Robert G. Allen

a book cover

This book shows that the disadvantage is that the flow of only one income is not a good idea, because there is only one-way money that can come to me – through my salary!

Having multiple income streams do not necessarily have a second job or even a third job! Several streams of income generating systems so that that money can flow through your life.

This means that you are investing both time and money to learn how to build these systems. It can be one way to invest in real estate, where you get a “stream” of income from monthly rent to tenants.

Another “stream” may be the receipt of portfolio income, such as “dividends” or “interest” of your equity or investments in bonds. One “flow” may be another of the royalties you get from publishing a book or recording music if you’re a singer.

Having a lot of “flows” where money can come to you is better than relying on your “business” alone to make money. The challenge is how to use your time, skills and money to create these income streams.

Conclusion

This is an essential guide on how to invest our money. This book provides a reasonable explanation of the world of stocks, bonds, and common property. It’s very detailed and easy to use.

2. 4-Hour Workweek by Timothy Ferris

tim ferris book cover

The book tells about the “new rich,” a group of people who have the time, money and traffic to spend only 4 hours a week to create wealth and the life they want.

The rest of the time is spent on what they like to do, like dancing in Buenos Aires, diving in Panama or enjoying the sun in Hawaii.

Who does not want to spend only 4 hours of his time on work instead of the usual 40 hours a week? Who among us does not want to have the luxury of time to do what you like?

Who among us does not want to spend an extended vacation on the beaches of Hawaii, while you care, and your Maltese will still come?

For employees, he offers practical advice on how to negotiate with your boss to organize workers at home.

It also presents ideas on how to plan your “mini” retirement benefits so that money is still available without you. He even discusses how you can “redirect” your life!

Easy-to-read work week, which takes 4 hours. Ideas are presented in a simple and uncomplicated way that you think you are reading a comic. The book is talkative and funny. Reading is like a face-to-face conversation with the author. Sometimes you can laugh at his jokes.

 

3. The Wealthy Barber by David Chilton

book cover

Some people have noticed that this book is one of the most beloved financial books of all time. A rich hairdresser offers reasonable advice and tips on how this affects our lives.

It’s very easy to take it by writing a book as a short story or novel, and easy.

The book is always recommended to those who risk understanding the management of personal money because even if you do not have a lot of experience in finance and accounting, you can easily understand.

The book guides the reader to take measures to manage his money, thinking about what we really want in life, and how we can get it.

He also has a great difference in getting rid of material thinking, receiving costs under our control and reducing our debts

 

 

 

 

 

4. The Millionaire next door by Thomas J. Stanley, Ph.D. William D. Danko, Ph.D.

book cover

The book is based on a comprehensive study of the financial habits of millionaires. The results are surprising in the sense that most of these millionaires are not what we usually expect them to be, as accurately described in the book,

“These people cannot be millionaires! They do not look like millionaires. They do not wear the same clothes as millionaires. They do not eat like millionaires, and they do not act like millionaires – they did not even have millionaire names.

Many “close” millionaires are the first generation. They did not inherit their wealth. They built it. Few of them spend more than $ 100 an hour. Others do not wear a jumpsuit to work!

They engage in types of work that can be classified as dull – ordinary. Some are welding contractors. Some of them are rice farmers. Some of them are pest controllers. Other traders of coins and stamps.

What separates the millionaires from the rest is their habit of money. They are modest by nature. They value money. They invest at least 20% of their income. They even have a “go to hell” box that can save their expenses for at least ten years without work at all.

Conclusion

A valuable lesson of the book is not that we know who the real millionaires are, but also the realization that it can be you! If they can, you can! It’s time to build your rich cash habit and become a “millionaire in the neighborhood”!

 

5. Your Money or Your Life by Vicky Robin and Joe Dominguez

cover of ymorl

The book tells you about managing your money and even looking at it in a very different way. Your money is only an integral part of your life.

There is also time. There is also your dream! What do you like the most? How to spend your money? What do you do in your time? Do you still do what you do, even if you have all the money in the world?

The book emphasizes the management of resources that you have like money and time. It offers unique tips to monitor your spending and whether each contributes to your goals.

It also has some ideas on how to accurately define what you want to do and manage your money and time so that you can do more of what you love to do and less than you do not like doing.

He even has some charts to help you understand and talk where you are, and when your day of freedom.

Conclusion

The central message of the book is not to choose money for life or vice versa

 

6. Rich Dad, Poor Dad by Robert T. Kiyosaki

r. kyosaki book

The book is a story about how to develop knowledge about the funds of two fathers: the first rich, the other poor. The story unfolds to describe the different customs of the wealthy and impoverished father’s money, each of which produces a different financial result.

The book makes a very complicated world of money and business sounds simple. It is merely that ideas can be interpreted as a child using only superficial graphics.

The figures show how cash flows from your pocket to the bank when you pay your bills and how they come from your company when you receive your salary.

What you do with the money after you get it, it determines whether you are rich or poor. Do you use the money to buy assets such as real estate investing or business creation? Or you can use it to purchase commitments, such as the new LCD TV in 12 single monthly payments with zero percent!

Conclusion

The book inspires you to become the best and watch business and money in a completely different way. Expands as money works!

 

7. Think and Grow Rich by Napoleon Hill

napoleon hill book

The central message of the book is that you have to “think” about money before it becomes real. This is a direct translation of the phrase “what your mind can understand, your body can achieve.” When you think about money, and you have this “urgent desire” to make it a reality, the whole universe conspires to build the means to bring it to you.

Money is, above all, just an idea. This is unrealistic. The money you keep when you buy a bag with a product is as real as a “mutual” agreement with other people that the paper you own deserves what you buy.

The book does not say “hard work and richer.” Hard work means different things to different people. For an employee who does not like what he does and receives a little salary, he is “hard work.” For someone who loves what he does, “hard work” is not in his vocabulary.

 

One thought on “The 7 Best Personal Finance Books Out There”

  1. “I simply could not leave your website prior to suggesting that I actually enjoyed the usual information a person supply on your visitors? Is going to be back continuously in order to check out new posts”

Leave a Reply

Your email address will not be published. Required fields are marked *