While some people manage their money like they were born with calculators in their heads, others are not so lucky. They often fall prey to their own impulsive instincts to spend more than they should. We have put together a short list of books to help with managing one’s finances.
Rich Dad Poor Dad by Robert Kiyosaki
Though it’s much like a memoir, this book comes with lessons attached. This is the No 1 bestselling personal finance book ever. The author walks readers through some childhood reminiscences, a contrast between his own not-very-wealthy father and the dad of his friend who happened to be one of the richest residents of Hawaii.
This comparison shines a spotlight not just on how to best manage your money or lack of it, but also on helping your kids to do so as well. According to the author, not all debt is bad, and you can work your way towards wealth even if you don’t enjoy a staggering income. It’s all about how you handle the money you do have and figuring out ways to lead you away from that single paycheck.
The Ultimate Financial Plan; Balancing your money and life by Jim Stovall and Jim Maurer
The book covers one’s overall financial situation, ranging from cash flow to insurance coverage and estate plan. This book is good for those who want to manage their finances and is an addition to those already working with a financial advisor or planner.
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
The book’s pivotal message is on the importance of living within your means and spending less than you earn so that you can attain financial freedom at an early age. Noteworthy is his example of how truly wealthy Americans often live frugal lifestyles and rarely show off their wealth with flashy spending. Reading the book will give you an understanding of how all decisions – from buying a home to a car – impacts your long-term wealth, according to the Authors.
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin
This book makes you see reason with why being frugal in spending would make you much happier. The author believes earning money should not mean misery, individuals should go with the lifestyles that makes you happiest and trim your budget accordingly. The book teaches living within your means, changing your habits and enjoying life every step of the way.