5 Good Books To Read About ? Personal Finance
Article by Ondrej Dyrka
Human knowledge is vast. Recent development in our society has, among many others, a major side effect ? there is an information overload in every branch of human activity.
Books are excellent for getting smarter, have fun, follow your keen interest in your hobbies and much more. But it is also vitally important to choose your books wisely and I would like to give you a hand with that.
We shall start with the topic of Personal Finance, because many people have been burned recently and there are quite a few pieces of literature that can improve your financial education. I?m happy to present 5 good books to read about personal finance:
1. Rich Dad Poor Dad by R. Kiyosaki
Personally speaking, the series of books, into which Rich Dad Poor Dad belongs, changed my life. We?re not only told that the major difference between poor and rich is in our mindset, but we are also introduced to the unique Cashflow Quadrant, where all human activities are divided in four branches:
* Employee * Self ? Employed * Owner * Investor
Rich Dad, Poor Dad is also often labeled as ?full of bad advice?, ?useless? and similar claims. The fact is that it would be dangerous to take it as it stands. On the other hand, you are never told to do so.
The best asset of this book is that it opens your eyes to another world and you realize there are other, much better ways, how to make money than being an employee.
2. The Family CFO by K. Snider
Simply put, The Family CFO (Chief Financial Officer) is about 4 steps you should master:
* Plan Prudently * Save Prodigiously * Invest Wisely * Manage Risk
Whether you like it or not, the skill to properly handle our finance is already inevitable. Each family acts as a small company that needs to:
* have a budget * do accounts * keep debts to a minimum * invest in assets
The Family CFO is written in simple terms and its whole purpose is to present the world of economics in the most comprehensible way possible.
It is especially useful for total beginners who were (for whatever reason) previously untouched by any financial education. But even I, who study University of Economics for the third year, have found something useful there.
3. The Total Money Makeover by D. Ramsey
At first, let?s see the statement from the official page of the product:
?Dave condenses his 17 years of financial teaching and counseling into 7 organized, easy-to-follow steps that will lead you out of debt and into a Total Money Makeover.
Plus, you?ll read over 50 real-life stories from people just like you who have followed these principles and are now winning with their money. It is a plan designed for everyone, regardless of income or age.?
This book is an excellent combination of good, truthful information and practical pieces of advice you can follow. The obvious fact is that you will have to make some ?local? adjustments in case you are not living in the USA, but it works that way with most of these pieces of literature.
The book itself has several chapters, first are talking about the most oblivious myths that have been established in the western type of society and following are the 7 Baby Steps how to drastically improve your personal finance.
The Total Money Makeover is more than worth your time.
4. Den of Thieves by J. B. Stewart
Although it doesn?t relate with personal finance education directly, it is still a wise decision to read it.
Den of Thieves describes how things can turn out, if you get rich and start to think that money will get you everything. Honestly, it indeed will, but only in an ill society, like the one we?re currently living in.
We all deserve to be rich and I?m sure some of you either are or soon will be. Den of Thieves is a heads up, a warning that even if you are wealthy, you must not throw basic human qualities out of the window.
5. Debt Free on any Income by L. & T. Shamo
Debt. One word, but many forms and occurrences. I wonder if there is any other word that is so common and ?unites? so many people.
Debt Free on any Income is a book delivered with an advanced Excel sheet, designed specifically to asses you financial situation and provide means to make it better.
Many people have financial obligations towards other people and institutions these days, but the fact that a lot of people suffer from it does not make it OK. I am considered a very weird person, because I never ever had a credit card or borrowed money for something I couldn?t afford at the time ? yet, that?s the safest course of action.
The Shamo siblings are financial advisors and experts and they chose to share some of that expertise with us ? and I have to say, it should prove more than useful for people suffering from ?The New Debt Problem?.
Conclusion
I hope you will utilize these five books to dramatically improve your financial education. It is perspicuous we can?t live without money and it is therefore folly to neglect financial knowledge. It is also vital to have at least basics from Economics as a scientific branch, because market economy is governed by some basic rules. Although it is unpopular to sink inside the graphs and number, you may want to consider it and choose one of these titles:
* Principles of Economics by G. Mankiw * The Wealth of Nations by A. Smith * Economics Today: The Macro View by R. L. Miller * Basic Economics by Thomas Sowell
Thank you for reading!
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