Almost 37% of Americans making under $50,000 a year, and another 18% earning between $50,000 and $74,000, don't have enough savings for emergencies. That's bad! If your money situation also feels a bit messy and you want to get a handle on it, there are books to help. Here are 7 great personal finance books that can help you improve your financial health.
“Your Money or Your Life” by Vicki Robin & Joseph R Dominguez
This book is more than just financial advice; it’s a guide to reshaping your relationship with money.
The author presents a nine-step process to help you learn how to:
- Get rid of student debt and save money
- Be mindful when saving money
- Live happily with the ‘less’
- Spend less and save the planet
- Invest your savings and start accumulating wealth
Students interested in financial independence should give it a read. It’s your guide to achieving a fulfilling life and being happy with ‘enough’ while also building wealth.
“Rich Dad Poor Dad” by Robert T. Kiyosaki
In this best-selling book, Robert Kiyosaki tells his own story of financial independence based on lessons he learned from two fathers, one rich and the other poor. The book will help you develop a rich mindset.
Through the difference of approaches to money, work, and life among two men, Kiyosaki teaches you the importance of financial education, investing, and building wealth. The insights from this book will make you rethink your financial beliefs and habits.
“Loopholes of Real Estate” by Garrett Sutton
The book has five sections; each clarifying do’s, don’ts, and loopholes in real estate and teaching how to maximize investing in property.
The book also teaches you legal strategies to protect your investment and tax strategies to analyze your financial reports. The real-life examples with an easy-to-follow style make this book an engaging read.
“Tax-Free Wealth” by Tom Wheelwright
Taxes are inevitable, but that doesn't mean you can't optimize your financial decisions around them. Tax-Free Wealth by Wheelwright, a seasoned tax advisor, shares practical strategies that can help you understand tax laws and reduce your taxes. And it’s pretty much useful for everyone – it tells you how to benefit from your country’s tax laws.
“The Lost Science of Compound Interest” by Curtis Ray
In this personal finance book, Curtis Ray breaks down complex money math into simple steps. Through practical examples and visuals, he explains the concept of compound interest in finance and how it can boost your wealth.
It is worth noting that this book serves as a comprehensive sales brochure for his product, the MPI plan, but despite that it still offers valuable opportunities in personal finance and retirement planning.
“The Little Book of Common Sense Investing” by John C. Bogle
This personal finance book is your go-to guide for smart investing. Bogle simplifies investing for you by explaining the benefits of the index-focused portfolio, how to sidestep the pitfalls of trendy investment, and how to maximize stock returns. If you’re looking for a no-nonsense approach to the stock market, give this book a read.
“Unshakeable” by Tony Robbins
Tony Robbins teams up with several financial experts to create a roadmap to financial freedom in “Unshakeable.” Covering topics from the psychology of wealth to detailed investment strategies, Robbins provides a well-rounded perspective on building and maintaining wealth. The great personal finance book tells how to be unshakable even in economic downturns.