5 Best Personal Finance Books You Should Read In 2023

5 Best Personal Finance Books You Should Read In 2023

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In this blog article, we have published 5 best personal finance books you should read. An individual with good financial know can manage their financials like investments, insurances, savings, expenses etc., and establish stable growth.

Right from managing your personal finances, budgeting, deciphering the stock market, insurance, investments, retirement planning to getting out of debts and estate planning, books incorporate everything. Reading can bring you one step closer to the brutal realities of the world.

If you have no idea about personal finance or would like to learn more, don’t worry. This article lists the 5 best personal finance books that can help you achieve your financial goals.

1. Rich Dad Poor Dad

Rich dad poor dad is one of the most popular personal finance books ever written. It was written by Robert Kiyosaki a well-renowned investor, to let the world know how they can gain finical knowledge and live a life without worrying about money. This book is best for beginners who want to attain finical freedom that’s why we have put this books on top in our 5 best personal finance books you must read list.

One Sentence Summary :  The main reason why people struggle with financial problems is because they spend several years in school but learn nothing about money and investments. The result is that people learn to work at the service of money… but never learn to put money to work for them.

Favourite Quote : “Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.”

Key Points :  

  • The rich make their money work for them.
  • Financial education is your greatest asset.
  • Know the difference between assets and liabilities.
  • Don’t be controlled by emotions.
  • Work to Acquire Life Skills, Not for Money:
  • Failure inspires winners and defeats losers.
  • Learn to manage risk.
  • Mind your own business.
Rich Dad Poor Dad Book Review

2. Think And Grow Rich

As the title “Think and grow Rich” says, this book explains the reason why only few people are successful and what all traits make them different from us. The author has explained money-making secrets by analyzing more than 500 wealthy men and women over a long year. The author has briefly discussed about those hard works and what force made them to be persisted.

This book deals with the facts but not with fiction and its purpose being to convey a universal truth all who are ready to learn. Napoleon explained step by step secret for making money.

One Sentence Summary :  This book tries to explain why some people amass great fortunes while others fail to make ends meet. Since its launch in 1937, this has always been the reference book for people who want to get rich..

Favourite Quote : “Set your mind on a definite goal and observe how quickly the world stands aside to let you pass.”

Key Points :  

  • Thoughts are powerful things.
  • Desire : Thoughts → Committment (or Desire) → Action
  • Faith : convincing yourself that your goal is achievable
  • Specialized knowledge, necessary for success
  • Imagination : As men, we can translate thoughts into things.
  • Are you a decision-maker or a procrastinator?
  • Mastermind Alliance : you surround yourself with like-minded people
  • Sex Trasmutation : sex trasmutation requires an enormous amount of willpower, but its return on investment is more than worth it.
  • Subconscious mind :Make it an habit to implant positive thoughts into your mind and mix them with vision and faith.
  • Fear : Fear stops a lot of people from becoming their best selves, and it will try to stop you too — if you let it.

 

Think and grow rich book review

3. The Millionaire Next Door

The Millionaire Next Door made waves in 1996 when it challenged America’s ideas about wealth. Despite coming out a quarter-century ago, it’s still a #1 Bestseller on Amazon in 2021. Notably, the book isn’t so much a step-by-step guide to building wealth as it is a research report. The authors paint a picture of typical wealthy households using data and contrast it with the ideas most of us have about rich people.

One Sentence Summary : The Millionaire Next Door shows you the simple spending and saving habits that lead to more cash in the bank than most people earn in their life while helping you avoid critical mistakes on your way to financial independence.

Favourite Quote : “Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.”

Key Points : The book’s authors discovered seven common denominators among those that they interviewed who successfully built wealth.

  • They live well below their means.
  • They allocate their time, energy, and money efficiently, in ways conducive to building wealth.
  • They believe that financial independence is more important than displaying high social status.
  • Their parents did not provide economic outpatient care.
  • Their adult children are economically self-sufficient.
  • They are proficient in targeting market opportunities.
  • They chose the right occupation.

4. The One Page Financial Plan

Carl Richards is a CERTIFIED FINANCIAL PLANNER™ and the director of investor education for the BAM ALLIANCE, a community of over 130 independent wealth management firms throughout the United States.

A book about a level of financial planning that has to happen, but the other books assume you’ve already done: finding out what you want in life.

This book is like, “Maybe build some of that avocado toast into your budget. That’s what a budget is there for, after all: balancing everything you want.”

Recommended if you want to get better at money, but don’t know where to begin.

One Sentence Summary : The One-Page Financial Plan is a refreshing, fun look at personal finance, that takes away the feeling that financial planning is a burden for the less disciplined, and shows you that you can plan your entire financial future on a single page.

Favourite Quote : “Budgeting isn’t just about numbers. It’s about awareness.”

Key Points :

  • Look broader and expand your perspective – do not just think about your immediate income and expenses. In order to have a robust long-term plan, it is important to have a larger vision
  • In order to achieve your goals, it is important to have a plan that aligns with your values
  • Understand why money is important to you – knowing the “why” is integral to creating an optimal financial plan
  • Don’t deceive yourself with unrealistic predictions – honestly assess your current situation and be true to yourself when you are not able to adhere to your financial plan
  • Identify your short-term and long-term goals and list them in order of priority – some goals are more important than others – your financial plan should reflect this
  • Identify the mini goals – things you need to achieve in order to meet the big goals
  • Evaluate your financial position by creating your own balance sheet – divide your finances into liabilities (things that you owe) and assets (things that you own)
  • Budgeting is an important exercise – track what you spend and try to cut down on unnecessary or discretionary expenses
  • Instead of saving only a certain percentage of your income, try saving as much as you can

5. Money : Master The Game by Tony Robbins

MONEY: Master the Game is based on extensive research and one-on-one interviews with more than 50 financial experts. The result is a 7-step blueprint for securing financial freedom. Tony Robbins guides readers, of every income level, through the steps to become financially free by creating a lifetime income plan. This income plan is supported by a sneak peek into the portfolio of one of the most successful investors in history, Ray Dalio.

One Sentence Summary :  Money: Master The Game holds 7 simple steps to financial freedom, based on the advice of the world’s best billionaire investors, interviewed by Tony Robbins.

Favourite Quote : “If you’re prepared, and you know what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there. —MARK CUBAN”

Key Points :  This books holds 7 simple steps to financial freedom that we have listed here.

  • Step 1: Make The Most Important Financial Decision Of Your Life
  • Step 2: Become The Insider: Know The Rules Before You Get In The Game
  • Step 3: Make The Game Winnable
  • Step 4: Make The Most Important Investment Of Your Life
  • Step 5: Create A Lifetime Income Plan
  • Step 6: Invest Like The 0.001%
  • Step 7: Just Do It, Enjoy It And Share it

Conclusion :

We hope these 5 books on personal finance my help you deciding you personal finance decisions. If you like our article on 5 best personal finance books you should read then please share your feedback in comments.

You may also like : 7 Steps For How To Become Wealthy

For any query you can contact us. For more financial advice follow us on Instagram.

Thank you for reading.

98 thoughts on “5 Best Personal Finance Books You Should Read In 2023”

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