Disclosure: Contains affiliate link. All opinions are mine.
Sometimes in life there are books that leave a lifelong impact and change how you view the world. In my late teens and early 20’s I read many finance and money books (I know I’m a total nerd.) During that time my views on money changed drastically because of these four insightful finance books.
These authors challenged the money lessons I learned in high school and provided a broader picture of what it takes to be financially secure. I am forever grateful these books because they have shaped my financial path.
1. Rich Dad, Poor Dad by Robert Kiyosaki
I read this book just out of high school as a new release. It was the first time I really understood asset versus liability. This book countered the traditional thought that your home is the biggest investment you will ever make. In reality, a house is a liability. Through Kioysaki’s lessons from his rich dad, I understood building wealth in a whole new way. He has an entire series of books and every one I have read has been powerful.
2. The Millionaire Next Door by Thomas J. Stanley, Ph.D.
Have you ever wondered how a millionaire truly lives? This heavily researched book uses statistics to show you exactly who a millionaire really is. Tip – It’s not the family that lives in a mansion, but is more likely the family next door driving a Toyota Camry. This was really eye-opening for me and made me realize anyone has the potential to be a millionaire.
3. The Two-Income Trap: Why Middle Class Parents are Going Broke by Elizabeth Warren & Amelia Warren Tyagi
Do you remember a time when a family could survive on one-income comfortably in the middle class? This insightful book delves into the reasons that it’s harder and harder for families to maintain middle class standards on one income. Their statistical data focusing on institutional changes sheds light on the dilemma that plagues Americans.
4. The Total Money Makeover by Dave Ramsey
I read this book shortly after starting a family and struggling to survive on one-income. Dave Ramsey has a no-nonsense approach to budgeting using a cash only envelope system. His financial advice is solid and can teach you have to be debt free forever. This is an easy read full of information for anyone who wants to take control of their finances.
There are many great financial books and you can never go wrong with more financial education. I recommend only four books today because these in particular have changed my personal mindset on finances and have had a lifelong impact. Even though I read several of these books more than 20 years ago, the lessons I learned created a paradigm shift in my views of money (for the better).
Check out my book, ‘The Extraordinary Art of Budgeting”, to follow our debt-free journey and budgeting tips that help us stay out of debt and live in financial freedom.
What is your favorite book about money and finances?