According to a research from 2022, 56% of Americans had bank accounts with less than $1,000 in savings. Even worse, more than half of them have no money at all to pay for a $1,000 bill. They would need to borrow the funds. Not good.
The problem is that not having an emergency fund leaves you exposed, not because “you should save money.” What if somebody hits your car? What if you fracture certain bones? Uncontrollable circumstances may compel us to make a payment. When that occurs, you don’t want to fall short.
The most obvious reason to learn how to handle your finances is simply that. Others include the ability to retire stress-free, having enough money to invest in a new business, and freely contributing to friends, family, and charities. To some extent, money does make our lives easier.
Thank goodness, there are many excellent publications available to teach us how to manage our money. Having read and summarised more than 1,000 books, we believe the top three finance things are as follows:
- A word of advice: Since money is something tangible, whatever advice authors give should be simple for you to put into practise right away.
- Data that is pertinent: You may require a more advanced book or a good introductory book, depending on your needs and objectives.
- Inspirational tales: Boring books won’t inspire you to act, so avoid them at all costs. Listening to a good story is the simplest method to change.
We’ve chosen the top 5 finance books for you to read based on these three standards. Consider reading these books if you want to improve your financial knowledge, be more frugal with your spending and saving, and discover how to invest your money to achieve financial freedom.
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Top 5 Best Finance Books Overall :-
#1 Rich Dad Poor Dad by Robert T. Kiyosaki
Best 5 Quotes:
“Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.” – Robert T. Kiyosaki ( Rich Dad Poor Dad ).
“Emotions are what make us human. Make us real. The word ’emotion’ stands for energy in motion. Be truthful about your emotions, and use your mind and emotions in your favor, not against yourself.” – Robert T. Kiyosaki ( Rich Dad Poor Dad ).
“The love of money is the root of all evil.” “The lack of money is the root of all evil.” – Robert T. Kiyosaki ( Rich Dad Poor Dad ).
“If you realize that you’re the problem, then you can change yourself, learn something and grow wiser. Don’t blame other people for your problems.” – Robert T. Kiyosaki ( Rich Dad Poor Dad ).
“Workers work hard enough to not be fired, and owners pay just enough so that workers won’t quit.” – Robert T. Kiyosaki ( Rich Dad Poor Dad ).
Main Message of Rich Dad Poor Dad Book :-
Rich Dad Poor Dad’s main message is how to use money as a tool for wealth creation. It dispels the fallacy that wealthy people are born wealthy, explains why your home may not actually be an asset, outlines the true distinction between an asset and a liability, and much more.
What makes it worth reading?
Although this book is controversial, it simply works in terms of inspiring action. It is partly based on Kiyosaki’s life, who discovered two distinct approaches to managing money from his parents and his closest friend.
Lessons include how to think about money as a concept, the fundamentals of accounting, budgeting, and investing, as well as how to manage your money so that it works for you. After reading the entire narrative, you’ll look forward to using the advice.
Major Points :-
- Spend your money on assets rather than liabilities.
- Instead of avoiding risks, manage them.
- Work for learning, not for money.
#2 The Intelligent Investor by Benjamin Graham
Best 5 Quotes:
“The intelligent investor is a realist who sells to optimists and buys from pessimists.” – Benjamin Graham ( The Intelligent Investor )
“Those who do not remember the past are condemned to repeat it.” – Benjamin Graham ( The Intelligent Investor )
“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.” – Benjamin Graham ( The Intelligent Investor )
“People who invest make money for themselves; people who speculate make money for their brokers.” – Benjamin Graham ( The Intelligent Investor )
“You will be much more in control, if you realize how much you are not in control.” – Benjamin Graham ( The Intelligent Investor )
Main Message of The Intelligent Investor Book :-
Value investing, which is centred on creating consistent, long-term gains by disregarding the current market and choosing businesses with high underlying value, is described in The Intelligent Investor.
What makes it worth reading?
This book about investing, according to Warren Buffett, is the best one ever. It is based on classes Warren Buffett had with Benjamin Graham when he was a younger student. Investors who focus on value seek out companies with strong fundamentals and purchase their stock at a discount. They just need to wait after that. Their true worth will eventually become apparent. A real, time-tested classic.
Major Points :-
- Value & Price Are Two Completely Distinct Ideas.
- Risk Is Not Short-Term Return Volatility.
- You Must Be Psychologically Prepared To Succeed.
- Future events are unpredictable.
- Investing with a margin of safety boosts success chances.
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#3 The Millionaire Fastlane by MJ DeMarco
Best 5 Quotes:
“There’s a profound difference between interest and commitment. Interest reads a book; commitment applies the book 50 times.” – MJ DeMarco ( The Millionaire Fastlane ).
“Many people want to change their life, but they are not will to change their choices, and ultimately this changes nothing.” – MJ DeMarco ( The Millionaire Fastlane ).
“Your choices are made in a moment, and yet their consequences transcend a lifetime.” – MJ DeMarco ( The Millionaire Fastlane ).
“I awoke to the epiphany that I was the driver of my life and my problems were the consequences of my choices.” – MJ DeMarco ( The Millionaire Fastlane ).
“If millions seek you, you will be paid millions.” – MJ DeMarco ( The Millionaire Fastlane ).
Main Message of The Millionaire Fastlane Book :-
The Millionaire Fastlane defines wealth in a new way, explains how to retire young, and exposes the flaws in the traditional “get a degree, get a job, work hard, retire rich” approach.
What makes it worth reading?
Surely, the title of this book is the most deceptive ever. There is absolutely no get-rich-quick element to it. Instead, it is a tale of tenacity, bravery, taking chances, and creative thinking. When MJ DeMarco was a teenager, he saw a man driving a Lamborghini and knew he wanted to be wealthy but didn’t want to work hard for 40 years to achieve it. He founded, sold, and then repurchased his own business, retiring at age 33 with a multimillion dollar fortune. Wonderful reading!
Major Points :-
- Wealth stands for 3 things — and money isn’t one of them: health, relationships, and freedom are what truly matters.
- At some point, you must make your income independent of your time.
- Think like a producer, not like a consumer.
#4 Think and Grow Rich by Napoleon Hill
Best 5 Quotes:
“The starting point of all achievement is DESIRE. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.” – Napoleon Hill ( Think and Grow Rich ).
“Set your mind on a definite goal and observe how quickly the world stands aside to let you pass.” – Napoleon Hill ( Think and Grow Rich ).
“Happiness is found in doing, not merely possessing.” – Napoleon Hill ( Think and Grow Rich ).
“Every adversity, every failure, every heartbreak, carries with it the seed of an equal or greater benefit.” – Napoleon Hill ( Think and Grow Rich ).
“More gold had been mined from the mind of men than the earth it self” – Napoleon Hill ( Think and Grow Rich ).
Main Message of Think and Grow Rich :-
Think and grow rich by Napoleon Hill main points image
The fundamental advantage is that when two or more brains work together to solve a problem, the output is greater than the sum of its parts.
Masterminds are particularly effective because they allow people to share experiences, ideas, and abilities that would never be possible if they worked on their own projects alone.
What makes it worth reading?
Napoleon Hill’s Think and Grow Rich is Worth It image
Because the selling of this book speaks for itself, I won’t say anything more. I typically buy a self-help book hoping to learn something from it, but I truly learnt so much from this one. This book illustrates how great success can be attained in addition to discussing the “WHY.”
Major Points :-
- Autosuggestion can help you develop a firm self-belief.
- Be obstinate and adhere to your decisions at all times.
- To accelerate your learning process, join a Mastermind group.
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#5 Secrets Of The Millionaire Mind by T. Harv Eker
Best 5 Quotes:
Rich people believe “I create my life.” Poor people believe “Life happens to me.” – T. Harv Eker ( Secrets Of The Millionaire Mind ).
Rich people are committed to being rich. Poor people want to be rich. – T. Harv Eker ( Secrets Of The Millionaire Mind ).
Rich people admire other rich and successful people. Poor people resent rich and successful people. – T. Harv Eker ( Secrets Of The Millionaire Mind ).
Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion. – T. Harv Eker ( Secrets Of The Millionaire Mind ).
Rich people are excellent receivers. Poor people are poor receivers. – T. Harv Eker ( Secrets Of The Millionaire Mind ).
Main Message of Secrets of the Millionaire Mind Book :-
The Millionaire’s Secret The mind tells us how to overcome mental obstacles, adopt the routines and ways of thinking of the wealthy, and claims that our ability to succeed financially is predetermined from birth.
What makes it worth reading?
T. Harv Eker examined his own connection with money through an intense rollercoaster of starting, running, selling, losing, and failing over a dozen enterprises. He realised that, like most others, he had just adopted his parents’ financial habits. This book will assist you in removing the detrimental components of that wiring and replacing them with sound financial principles and practises.
Major Points :-
- You naturally have a tendency to adopt your parents’ financial tactics.
- You must first acknowledge that you are in charge of your finances if you wish to take control of them.
- You’ll never become wealthy yourself if you hate rich people.
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