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Must Read Money Management & Personal Finances Books
This is the first personal finance book that I read, I read it as a teenager and I have re-read it multiple times. Rich Dad Poor Dad is a fabulous book if you are looking for your first book on money, or if you have read multiple books. What I love about this book is that it is written in such a way, to make it easy to understand the concepts explained. You don’t need a degree in order to truly take in the information from this book and to understand it. Robert Kiyosaki shares a lot of stories which makes it very relatable and he paints a picture for you to understand, taking complex principles and breaking it down into much simpler pieces. He compares the way two different people can react to the same situation, how his “Rich Dad” would react and how his “Poor Dad” would. and it sparked the inner nerd in me and made me want to completely dive head first into studying so much more about personal finance and managing my money.
This book is a “simple 12-step plan for getting your financial life together…finally.” For starters, this book is a very entertaining read as well as very informative. Nicole Lapin writes from a female perspective and I love everything she included in this book. This is another one that I have read more than once. She really encourages women to step into taking charge of their own finances and not to be scared if you feel like finances are more of the “man’s” responsibilities. At the end of this book, you will feel very empowered that no matter where you are, you can take full control of your finances and completely change your situation.
This book is a newer financial book, it wasn’t made decades ago, so the information is very timely, that you can apply in your own life. The education that she provides in this book is actually practical and not “far-fetched” which I really love. When I read a book, I want to be able to try the suggestions in my own life, not hear lots that “used to work,” but the times have changed. It’s also refreshing to have a book about money that you can be learning but also laughing your but off at the same time.
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I found The Wealthy Barber Returns to be an easy read was nice as I read it earlier in my money journey. I loved the information that was shared in this book which included talking about money mistakes that are really common and how they are really affecting you. And these money mistakes are ones that I commonly see people struggling with. This book does include information about investing which may be over your head if you are at the beginning of your journey, but don’t let it frighten you. Even if you don’t fully understand it right now, there are many other lessons in this book that are golden nuggets that I haven’t read in other personal finance books. A lot of books, especially finance books, are US based which makes some of the information, not applicable in Canada, or hard to understand how to adapt if it if you are a Canadian, so the fact that this book is written by David Chilton who is a Canadian, is a bonus.
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Rich Dad’s Cashflow Quadrant – Guide to Financial Freedom, builds on the principles that you learned in Rich Dad, Poor Dad and takes you deeper into acquiring wealth and setting yourself up for long-term financial success. This book I wouldn’t suggest as your first choice, but as you begin to build your financial knowledge and want something to increase your understanding of everyday finances and start to learn about setting yourself up for financial freedom, then this is a good book to read for those reasons. Robert explains the different “quadrants” such as E – Employee, S – Self Employed, B- Business Owner and I for Investor, that you can be in and earn money from and how that affects you financially. If you wanting to learn how to build more wealth and increase the amount of cash flow coming in and how you can do this, this is a great beginner book to start expanding your perspective in regards to building wealth.
I enjoyed reading Unshakeable because it is very different than any other money management book that I have read before. I put this book last intentionally because this is not a book you will want to pick up at the beginning of your money journey. This is a book that you do need to have a pretty good understanding of finances first, in order to truly understand what is being shared in this book. This is a book that you might have to read over a few times in order to really digest it.
What I appreciate about this book is really calling out some things that happen in the finance industry and it helps to better prepare you so when you are talking with someone about your finances when it comes to investing, you know better questions to ask, to really understand what is happening. If you are ready to invest, this is a great book to read because it does give you a completely different perspective to consider, than any other personal finance book I have read. To me, I really like having as much information as I can before I make big decisions and I also want to know, especially, what kind of questions to ask, because the better questions you ask, the better answers you will get. But sometimes you just don’t even know what to ask, Tony Robbins breaks that down in this book and explains what it means depending on how your financial professional answers those questions. He also talks about how to pick a financial professional to help you with investing and increasing your wealth. I feel this book is a higher level read for when you have dialed your finances in and are managing them quite well and then you are ready to take your finances to the next level.
If you are an entrepreneur or a business owner, or you want to become an entrepreneur, you NEED to read this book. This book explained so many of the reasons why I see so many entrepreneurs who look like they are doing well, but in reality, they are just scraping by. Profit First takes you from being one disaster away from your business crumbling and financial hardship breathing down your shoulders, to being able to finally, become truly profitable. The principles explained in this book, help you to live the life you truly want to live, to having a business that supports your life, so you aren’t so consumed by it. Every single person who becomes an entrepreneur, this should be a MUST read! This book breaks down the exact steps to follow, to make it so much easier to quickly see your financial situation and to make decisions that don’t leave you exposed and vulnerable. If you have been struggling in your business to turn a true profit, please do yourself a favor and pick this book up.
If you are at the point where you don’t want to struggle anymore and you want to reduce your overwhelm and anxiety around money, check out my Financial Services that I offer. I work one on one to help individuals and couples manage their specific financial situation and to improve their lives by walking them through HOW to change their financial situation, step by step.
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Want to get your finances in order so you can have more options, opportunities and choice in your life? Join my free women’s Facebook group Confident Everyday Money to completely change your money situation so it is one that allows you the ability to do that.
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What are your favorite money management books? Which books on this list are you going to read next? Leave me a comment in the comments below and I will respond back to you!