My Top 5 Must-Read Books About Money
If you want to read more about money and are unsure where to start, I'm sharing my five favorite books about money. Each of the five has made a significant impact on our financial life. You can learn incredible lessons from others who have experienced hardship and success.
1. Millionaire by Thirty
My first book recommendation is Millionaire by Thirty. Of course, this is the only one I don't have a physical copy of because we borrowed it from my dad, and my husband is an audiobook guy, so he listened to it. This is the book that kind of started it all for us and started us thinking about money in a whole new way.
In the summer of 2019, we started thinking about money differently and what was possible for our lives. Millionaire is often in the title of these books because it's a catchy term. It's something that people want to aspire to.
Try to look beyond the title when you're thinking about the value of this book or what is the context of this book because a lot of that can be hidden under the title of a millionaire. Remember that you start where you are.
So this idea of being a millionaire by 30, if you are older than 30, like me, it's okay that you are not a millionaire yet. It's about taking steps now and moving forward, not about thinking it's too late. It's about using strategies to help you have that generational wealth.
2. The Millionaire Fastlane
This book is written in a way that's easy to digest. The chapters are super short, so if you have ten minutes of reading a day or less, you can still conquer this book, and you will learn so much about money, how people make money, what strategies they use, and what kind of work makes what kind of money.
You've probably heard of the book Rich Dad Poor Dad. I feel like this is the updated version, the longer version, the more practical version for everybody. I didn't read this one until recently, but I really wish that I had read it ten years ago; my life would probably look a lot different.
This book also talks about solving problems when you see a problem and when you're having a problem. If you can figure out how to solve that for people, it can be a great source of income for you.
Whether that is coaching or a tool, if you can solve a pain point for people, that can be a great source of income.
3. The Psychology of Money
This is a must-read. Of course, everything on this list is a must-read in my mind. If you don't have all the time for all the books, this is pretty easy to digest, and it talks about why we do what we do. This book is definitely less dense and easier to read than The Millionaire Fastlane.
Most of what we do is mental and psychological, and it's not necessarily about knowing the knowledge. You can know that your credit card has a 29% interest rate, and you know that that's bad. So why do we still carry a balance on our credit cards?
This book can help you with things like that and why we do what we do. It's not like if we knew the numbers, we would just do the right thing, right? That's not how it works, and this book unpacks that.
4. Think and Grow Rich
This is an older book, so the language is a little bit different than what we're used to reading today. This book is about the underlying concepts of what makes people have money or not have money.
A must-read, but also go into it knowing that it's not going to read the same as a novel that you picked up that was written this year. The language is going to seem a little bit different, but it's pretty short, at less than 300 pages.
5. The Millionaire Next Door
We read this book pretty early into our journey, and it was just so fascinating to hear some of the statistics about wealth and all the people that you're living around.
It's interesting to think about how it's not as unusual as you might think to have amassed a good retirement for yourself and your family and that wealth doesn't necessarily look as fancy as you think.
The millionaire next door really could be driving an old Honda and wearing non-name-brand clothes. This book is such an eye-opener.
There are lots of fun little tables in the book about how people spend their money, what they spend it on specifically, and what various income brackets spend on different things. Definitely check this one out if you haven't already.
My favorite pastime is reading books. What is one of the books that you have read that have made an impact on your financial life? Share in the comments below.
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