“The more you read, the more things you will know. The more that you learn, the more places you’ll go.”
December is that time just before New Year when our bodies and minds start to naturally wind down as we approach the end of the year.
And what better gift to receive, and way to spend this quiet time reading a good book.
But not any good book, one that will set you up for big success in the New Year!
If you don’t know me, I’m a TOTAL bookaholic, and for those who do, sorry, I’m banging on about books again !
These are the books I go back to again and again for money inspiration, whether it is money mindset, money practicalities or wealth building.
Why not ask Santa for one this year, or better yet ask Santa for two. One for you and one to give to someone you care about!
“Your mindset about money will actively create your financial reality”
These are my three money mindset go to books.
A timeless classic on the mindset for building wealth.
Although it was written in 1937, just after the Great Depression, the powerful lessons of desire, faith and persistence are still very valid today.
I was about to suggest one of my other favourites Your Money or Your Life by Vicky Tobin, but on reflection I realised it is a bit of a longer read than it needs to be and while it does touch on the mindset aspects it is a bit of a heavy read for the relaxed festive season and so I’m recommending this one instead.
While I’m not a fan of the title, Denise’s down to earth, honest style is hugely engaging and her systems, tools and tricks offer some transformative actionable steps.
Jen has a funny and appealing way of breaking down the money mindset challenges we all face and offers actionable tips to get on top of them.
There are no new self help concepts but sometimes you just need someone to remind you about the power of positive thinking and Jen does this well.
“In the long run it’s not just how much money you make that will determine your future prosperity, it’s how you put that money to work by saving and investing it”
The simple fact is that being financially secure is not about how much money you have but what you do with it.
If you are not sure what to do with your money these three books are great tools to get you started.
Ramit has an interesting writing style which can be quite abrasive to women but irrespective of that I’m recommending this book because he is that good at simply explaining the concepts.
Health warning it is very US focused but I took the key points and used this as the basis of my research in my home market. Also, it is clearly targeted at the 20 somethings but I got some excellent takeaways and I’m way beyond that generation (yikes !.That is a scary thought!)
Although a little outdated and US centric you have got to love David Bach and his influential grandmother who inspired the “Automatic Millionaire” and other books including this one.
And although David has come under a little fire recently for his sexist attitude by portraying women as frivolous spenders who squander their wealth away on Latte’s, I personally don’t think this was his intention at all. He made the unfortunate Latte, apparently a drink favoured by women, an example of an unconscious spend that can add up over time but if you have ever listened to his podcast or read his books, it is clear that sexism is not what he is about.
Irrespective of which way you want to think about David his books are practical, packed with financial education and inspiring and I recommend any of them as a good read.
This is a must read and my favourite personal finance book to get started with.
Clearly JL is doing something right in it as it is also the highest rated Amazon book on personal finance.
The book is an amalgamation of letters the author wrote to his then teenage daughter to teach her about personal finance. In his own words she had absolutely no interest at the time but as she has grown up he says she has come back to surprise him with just how much she actually took away from his teachings.
Because of its origin the book is accessible, packed with information and actionable advice. It is one of those books that should be taught at school and I wish it had been for me.
“Don’t work for money, make it work for you”
The ultimate objective of doing all this money work is to have freedom. The freedom to live and do the things that make us happy.
And the way to this freedom is to get our money working for us .
Investing makes this freedom accessible to anyone no matter their background, how much money they make, their education or anything else you think you need to be to make money. It is the ultimate leveller of that playing field.
However, for most of us investing seems to be some sort of dark art and that is holding us back from taking the actions that help us reach our financial freedom.
Thankfully there are some phenomenal books that throw some light on investing and make it accessible to all of us and these are my best three.
Sensible advice for a simpler approach to investing.
Lars is a seasoned financial professional who has managed his own hedge fund and continues to advise on a number of others.
You would think he would be the last person that would be able to give easy to understand explanations for the jargon and confusion that cloaks investing in a dark secretive veil.
But he does.
And whether you choose to follow his recommended simple approach or expand on it to a more complex investing style this will give you the information to make educated choices.
Written by the father of low cost passive investing, which is investing in a fund, which could be a unit trust or ETF (electronically traded fund), that simply copies a benchmark. This benchmark is typically an index such as the S&P 500, the US index that includes the shares of the top 500 companies in the US or the FTSE 100, the UK index of shares in the top 100 UK companies.
This is a must read for anyone new too investing. It is packed with well researched wisdom and insights while also being extremely actionable
Andrew wants you to know that no one is better than you when it comes to managing your money and you owe it to yourself to get educated and do it!
With that in mind he sets out in this book to show you how to get your money working for you.
And he does it well!
Not only does he provide a wealth of knowledge into the book, he provides a comprehensive list of more books to continue the education process.
This book is easy to follow and gives a solid kick in the butt to take action!
And that in a nutshell is a huge amount of financial education to start building your confidence and knowledge. Start reading, your finances will thank you!