Growing up, we all have heard that money is evil, but if it’s evil then why the hell is everything surrounded by money? Well, this was one of my pet peeves until I discovered the realm of financial literacy. Right from school, we are being taught how to chase money - although it's “evil”- but are never taught how to manage that money.
So, here I have shortlisted the top 10 books that will change your perspective about money and equip you with the smartness to manage money.
RICH DAD POOR DAD by Robert Kiyosaki:
With its fun-to-read storyline and a heavy dose of financial knowledge, this book is by far the best book for a beginner. The author tells his story of growing up with two dads — his real father and the father of his best friend, his "rich dad" — and how both men shaped his thoughts about money and investing.
STOP ACTING RICH by Thomas Stanley:
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This book is a must-read for all the teenagers or adults who brag about their newly bought stuff. It will make you understand the difference between being rich and acting rich. Rich people don’t buy liabilities like fancy stuff, instead, they invest in real assets and that’s what makes them rich.
THE INTELLIGENT INVESTOR by Benjamin Graham:
Reading the above two books might have ignited the fire, and to fuel it with the right fuel I present you with the Bible of value investing. A book from the legend himself will help you master the nuances of the stock market and will take your financial IQ to new echelons.
BROKE MILLENNIAL by Erin Lowry:
Runner-up in the best for a beginner category, this book deals with your personal finance goals. Erin Lowry explains how millennials can take control of their relationship with money and win over the financial instability they face. Whether it’s about student loans or sharing the details of your finances with a partner, this book has it all.
THE PSYCHOLOGY OF MONEY by Morgan Housel:
If you want to understand your mind’s psychology on money and how your ego, pride, and preconceptions affect your decisions related to money, then this book is for you. With its 19 short stories, this book will help you tackle your built-in biases and help you to be much more conscious when dealing with money.
YOUR MONEY OR YOUR LIFE by Vicki Robin:
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In these tough times of economic uncertainty, it’s more important than ever to manage your finances and this book comes as a ray of hope. Its simple explanation of concrete ways to observe our connection with the material world, makes it stand out.
MONEY MASTER THE GAME by Tony Robins:
Being one of the most famous motivational speakers in the world, Tony has effectively used his connections to have one-on-one interviews with more than 50 of the most legendary financial experts in the world and has created a simple 7-step blueprint that anyone can use for financial freedom.
THE RICHEST MAN IN BABYLON by George S. Clason:
Based on a story set in ancient Babylon city, this book is a hidden gem of ancient financial knowledge. With the success secrets of the ancients, this book presents an assured road to happiness and financial prosperity. Acclaimed as a modern-day classic, this book has helped millions to achieve their financial dreams.
FROM THE RAT RACE TO FINANCIAL FREEDOM by Manoj Arora:
If you are fed up with the paycheck to paycheck life then Manoj has brought an effective book that will help you declutter your mind and guide you on your path of financial freedom. He adds, taking control of your finances and constructing a financial plan which suits your pocket is the way out of the rat race.
THE COMPOUND EFFECT by Darren Hardy:
When it comes to personal finance understanding compounding is the most critical thing and maybe the game-changer. This book will teach you compounding not just in the realm of money but also in various aspects of life, which directly affect our financial decisions. So, this is a great read to improve your financial pillars in life.