Even those who live the good life into old age usually have regrets about the way they managed their money when they were just starting out. Growing up, we’re accustomed to curriculums centered around arithmetic, language, literature, history, and geography, but it’s rare for an education program to focus on personal economics.
Usually, we rely on our parents to impart financial wisdom, but not all of those lessons are easily absorbed or as thorough as they need to be. Therefore, many of us enter adulthood armed with little more than a cursory idea of what insurance premiums are, what a retirement account does, or how to create (and stick to) a foolproof budget.
Fortunately, there is plenty of literature on the market that can help you become an expert in the arena of personal finance. From setting the emotional and structural foundations for success to actually investing in the stock market, the seven books below are all you need to get smarter about your money.
The Compound Effect
by Darren Hardy
One of the things shared by the wealthy and successful is discipline. However, when you’re just starting out on your own, it can be difficult to gain this characteristic out of sheer willpower. Instead, trial and error usually comes to inform our experience. This book removes the “error” aspect from the process and helps you create an operating system for a successful life by looking at how small choices and habits compound to create a purposeful future for ourselves. More self-help than personal finance, this book is necessary for laying the groundwork for future prosperity.
Buy The Compound Effect here.
Get a Financial Life: Personal Finance in Your Twenties and Thirties
by Beth Kobliner
The world of personal finance is tricky to navigate, especially as a newbie. This comprehensive book breaks down everything from credit scores and student loans to health insurance and investing in the stock market. It doesn’t matter what level of need you’re at since it covers every topic in clear, simple language.
Buy Get a Financial Life here.
The Minimalist Budget
by Simeon Lindstrom
While some may view a budget as constraining, author Simeon Lindstrom takes a different approach. Budgets, he argues, are life-expanding because they help us achieve major financial goals, like saving for retirement or buying a car. Creating and sticking to a budget may be difficult at first, but you’re setting yourself up for long-term success by following his Specific, Measurable, Attainable, Realistic, and Time-Based (SMART) goals.
Buy The Minimalist Budget here.
The 9 Steps to Financial Freedom
by Suze Orman
No personal-finance list would be complete without the expert input of Suze Orman. The legendary financial guru has an incredible website filled with resources and dozens of books to choose from, but the foundation of her work starts with the “9 Steps”. Even though this book was written 15 years ago (don’t worry, it’s been updated since), the wisdom of her advice is timeless. It teaches you how to manage, track, budget, invest, and grow your money – all in one easy-to-read guide.
Buy The 9 Steps to Financial Freedom here.
Why Didn't They Teach Me This in School?
by Cary Siegel
Money management isn’t an intuitive human quality but a learned skill. In fact, it can take years to master your finances, especially if you’ve never been taught anything about budgeting, saving, investing, borrowing, and other tenants of personal finance. Ideal for the high school or university graduate, this digestible book puts financial life lessons into easy terms and considers all angles including money in marriage, the cost of raising children, and more.
Buy Why Didn’t They Teach Me This in School? here.
The Influencer Economy
by Ryan Williams
Influencers have become the celebrities of the digital age, capable of turning their personal brands into multimillion-dollar empires. In fact, there are plenty of inspirational examples – like Lana El Sahely and Nadya Hasan – right here in the Middle East. If you’re on that path, or hope to be someday, this book is indispensable. Author Ryan Williams teaches you how to craft your vision, pick your online platform, collaborate with other influencers, find brand sponsorship, and more.
Buy The Influencer Economy here.
A Beginner’s Guide to Investing
by Alex H. Frey
If you’ve already mastered the basics of personal finance – such as budgeting and saving – you might be ready to take it to the next level. Do this by learning about investing, which is a great way to make your money work for you instead of just letting it languish in your checking or savings account. This book is the ultimate beginner’s guide, helping you navigate the complex world of taxes, the stock market, investment account types, and more.
Buy A Beginner’s Guide to Investing here.
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