Financial literacy is not limited exclusively to older people or students of banking and finance. If you hold money, no matter how much and for whatever reason, learning money management becomes vital. Today, even adolescents are learning how to save money and teenagers are entering the investment world. More so, the world is evolving and technology advancements are increasing, thus requiring that everyone learn money management.
The rapid changes in the many aspects of personal finance have warranted that every fund holder becomes financially literate. Thankfully, you don’t have to take a four-year college course on finance to gain this invaluable knowledge. If you buy XRP, any other cryptocurrency, or index funds for that matter, there are books you can read to know how to manage your investment. If you’re willing and ready to get better at managing your finances, below are great books you can read.
Rich Dad Poor Dad
Robert Kiyosaki’s “Rich Dad Poor Dad” has been teaching people how to manage their finances since 1997 when it was released. Robert writes this classical personal finance book from the perspective of a son learning about finance both from his middle class dad and a friends rich dad.
He advised one who took over his business and the other who took over his job as an employee. We recommend this book if you want a better understanding of how to build your assets and improve your money mindset.
A Random Walk Down Wall Street
This investment book explores the market, history, and economic theory, among other concepts, providing investors with invaluable advice. In the book, Burton G. Malkiel explains the mathematics of investing and the common mistakes investors make and how to avoid them.
The author, Malkiel has years of experience as a financial investor, personal finance and investing book author, and Economics professor at Princeton University. He is an authority in the world of finance and investing, making the book one of the best finance books to read.
Everyday Millionaires
If you dream of becoming a millionaire, which we all do, “Everyday Millionaires” should be on your radar. Written by Chris Hogan, the book discusses with real people the secrets of amassing a net worth of at least $1,000,000. The book shares several budgeting tips and discusses effective ways people of different income levels can grow their wealth.
How to Make Your Money Last
‘How to Make Your Money Last’ is one of the best personal finance books anyone can read, particularly retirees and soon-to-be retirees. The book, written by Jane Bryant, gives straightforward discussions on a wide range of retirement topics.
The book discusses topics ranging from means of managing savings, including annuities, to how to handle home equity. Jane Bryant explains clearly the basics of budgeting during retirement and the importance of continuing to earn income after retirement.
The Millionaire Next Door
‘The Millionaire Next Door,” written by William D. Danko and Thomas J. Stanley, is a classic for millionaire aspirers. It was one of the first books centered on studying millionaires in the United States, providing facts and insights about them. You will learn a lot about the book such as how these people achieve financial success, save, and manage their assets. The book also explains how wrong the assumptions of middle-class Americans about them are.
The 4-Hour Workweek
‘The 4-Hour Work week’ by Tim Ferriss is in the FIRE (financial independence, retire early) book category. Tim Ferriss discusses this popular concept, explaining how you shouldn’t wait until you have money before living. He emphasizes the possibility and need to start taking action to build the life you dream of even now. The 4-Hour Workweek talks less about investing in cryptocurrency and stocks and more about working less and living more.
The Automatic Millionaire
David Bach’s ‘Automatic Millionaire’ is a classic and unique money book – unique in the sense that it only provides a one-step plan. The book is excellent for beginners of financial literacy, helping them to understand and have systems for building wealth. ‘The Automatic Millionaire’ provides an example of how a middle-class family managed to save $1 million. In the book, you will find workable strategies on how to plan a budget to help you achieve your financial goal.
Think and Grow Rich
We will round up this list with the finance book classic, ‘Think and Grow Rich’ by Napoleon Hill. ‘Think and Grow Rich’ was originally published in 1937 and is more of a motivational book to help you achieve your goals. In the book, you’ll find a framework for achieving any goal you’ve set, which is useful if yours is to become financially independent. The book has changed people’s lives over the years; yours can be the next one it changes.
Conclusion
Financial literacy is a skill you can acquire and improve by reading books and practicing what you read. These books on personal finance can help you get better at money management, ensuring you achieve your financial goals. Some of these books also list the best budgeting apps to use on any income.
