Top 10 Personal Finance Books of All Time
1. Think and Grow Rich
Way back in the 1930s, author Napoleon Hill interviewed a series of millionaires and philanthropists, starting with the steel magnate Andrew Carnegie.
2. Secrets of the Millionaire Mind
If you’re poor, it’s because you think that sort of a have-not and if you’re rich, it’s because you think that rich, consistent with author (and multi-millionaire) T. Harv Eker. To make matters worse, poor people essentially program their children to be poor, by providing them with a worldview that creates wealth accumulation impossible. Not to worry, though. If you start thinking like a mogul, you can be one, too.
3. The Money Book for the Young, Fabulous & Broke
In this sprightly offering, television star Suze Orman helps millennials navigate the fundamentals of the financial world, like dealing with huge student loans and employment market that, for young people, is nearly as dismal as the Great Depression.
4. Total Money Makeover
Anyone who’s listened to Dave Ramsey’s radio show knows that he’s all about common sense: avoid buying on credit, pay cash for everything possible, get yourself out of debt and build an emergency fund.
5. The Millionaire Next Door
Through research into U.S. households with a net worth of $1 million or more, authors Thomas J. Stanley and William D. Danko identifies most people as Under Accumulators of Wealth (UAW) who have a coffee net wealth compared to their income. They then provide advice (like take skimpy vacations) to assist people achieve a better net worth compared to their income.
6. The Science of Getting Rich
Even though it contains nothing that even vaguely resembles “science,” this 1910 book provided the intellectual framework for thousands of private wealth-building seminars. Author Wallace Wattle believed that your ability to accumulate wealth is directly dependent upon how you think that about it. In other words, if you believe that money is the root of all evil, you’ll never be wealthy.
7. Your Money or Your Life
Author Vicki Robin’s cites many examples, such as the practice of working at a job that brings in less than the amount you pay out for childcare and “time saving” trips to McDonalds.
8. The Millionaire Fast Lane
Working hard, saving 10 percent, and retiring at 65 may be a chump’s game because 1) financial markets are just too volatile and 2) you’ll “be during a wheelchair” by the time you really have enough to retire, consistent with author MJ DeMarco. A better strategy is to use the volatility of the financial markets to urge rich quickly and luxuriate in it now.
9. Rich Dad, Poor Dad
An eighth-grade dropout who spends but he earns is smarter than a university professor who can’t make ends meet, consistent with Robert Kiyosaki. Furthermore, while working for a gentle paycheck can get you started, your best investment of some time and money is to shop for property or a business.
10. The Richest Man In Babylon
Like most of the private finance books that followed, The Richest Man In Babylon emphasizes saving over spending. However, the book also insists that charitable giving is equally as important, provided you do not allow those two whom you give to become dependent upon your gifts.