Top 4 Books That Will Help You Deal With Your Personal Finances

Personal Finances

If you manage your money wisely, you can become financially more stable: don’t get into debts and loans, don’t be afraid of losing your job and money problems in your old age. This way, you will have money not only on routine expenses but also on something extra, like gambling at or going to the cinemas. Here are 4 books worth reading to figure out your personal finances and learn how to save money.

The Richest Man in Babylon

One of the best books on personal finance. The book is fiction, without the complicated economic and accounting terms. You can read it in a day, as it only has 160 pages. It teaches how to distribute income so that you can get out of debt, invest, and provide a stable income in the future.

The protagonist of the book is a poor man, Bansir, who became a millionaire. He derived his own rules for multiplying money:

  • Start filling your wallet.
  • Keep track of your spending.
  • Make your gold multiply.
  • Safeguard your savings from loss.
  • Invest your savings in a home.
  • Secure your income for the future.
  • Expand your earning power.

He learned each rule by his own mistakes, victories, and defeats. If you follow them, you can become financially stable in 3-5 years and not be afraid of another collapse of the currency and rising prices.

The book doesn’t give an in-depth knowledge of finance, but it teaches you how to treat money wisely. If you have a lot of debt, a small salary, and money is constantly floating away to nowhere, and you don’t know where to start, read The Richest Man in Babylon. That will be the first step to financial well-being.

Don’t Eat The Marshmallow… Yet! The Secret to Sweet Success in Work and Life

The main idea of the book is to learn how to set aside a reward now to get a thousand times more later.

The book is written in simple language. A short story about how one very rich man gave some tips on financial literacy to his personal driver, and the latter took them and implemented them. He didn’t become a millionaire, but within a few years he was able to get an education, open a small business, increase his capital and quit his job – a rich man had to find a new driver.

Read the book yourself and then together with your child – he will understand why it is important to plan and how today’s decision can affect his fate in the future. This knowledge will be useful to him in his adult life, and to you right now.

Der Weg Zur Finanziellen Freiheit

The book was written over 20 years ago, but it is still relevant: the rules of money management have not changed for many years. In the new edition, the author has rewritten two chapters and adapted them to modern reality.

Schaefer believes that money doesn’t come for nothing. Financial success is only 4 steps:

  • Save a percentage of your earnings.
  • Invest what you save.
  • Increase income.
  • Save a percentage of the increased income.

In the book, he discusses examples of several strategies that will help you understand your finances and build a system to increase your income.

It’s a guide for those who are tired of living from paycheck to paycheck and want to improve their financial situation. On the advice of Schaefer’s, tens of thousands of people around the world have learned to manage money and amassed their first capital. The author is sure that if you do everything according to the strategy he developed, then in a couple of years, you will have a few million. It’s a good motivation to try.

Do all the exercises suggested in the book. Schaefer believes that before you build a financial foundation, you need to figure out your goals and desires. Don’t neglect this to get the results you expect.

Your Money or Your Life. 9 Steps to Transforming Your Relationship With Money

“Do you control the money or does the money control you?” – the author asks. And then explains simply and clearly how to take your finances into your own hands and stop living from paycheck to paycheck.

Vicky Robin tells you how to get rid of debt, review and define your priorities, learn to save money, and sort out the internal contradictions between your lifestyle and values. When you read the book and follow all the recommendations, you will be able to consciously use and control your finances.

Robin believes that all financial woes are from inner contradictions, and helps you to deal with them. The book will be useful to anyone who wants to learn how to consciously spend and save.

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