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5 Personal Finance Books To Transform Your Life

by dollarwise

5 Personal Finance Books To Transform Your Life

Here’s what I would regard as some must reads to transform your thinking and practice with money. There’s a lot out three but these are the ones that come out on top and are typically best sellers for a reason! 5 personal finance books to transform your life. If these aren’t in you library or kindle, that should be! Here they are and why.

1. Rich Dad, Poor Dad by Robert Kiyosaki

rich dad poor dad

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! is a classic. It teaches what true wealth really is and what it isn’t. It helps to break out of the fear of the work a day life, to the freedom of building something truly lasting. If you need the courage to step away from the 9-5 grind and to start building real wealth, then this book is a must read. It will shape your fundamental thinking and give you the direction and courage to move forward without fear. A must read.

2. The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey

Total Money Makeover

Those who swear by The Total Money Makeover are everywhere. A complete plan to manage your money and move your life forward with wise decisions. It gives practical tools and stories to motivate. This is something anyone starting out should read to put their finances in order and to set a course in the right direction. I’m a big fan of Ramsey and I’m not alone! If you haven’t read this, you should!

3. The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J Stanley.

The Millionaire Next Door

The Millionaire Next Door distils the research findings of of Stanley and Danko into seven key characteristics that explain how America’s millionaires became rich. The findings debunk myths of grandiose lifestyles and show what it really looks like to build wealth. The principles are sound and allow you to compare your life and habits with those who really build wealth. If you want to have your thinking guided by fact and not fiction, this is a great book to read.

4. The Little Book of Common Sense Investing by  John C Bogle.

The Little Book of Common Sense Investing

Investing can be a world of pain or joy depending on the choices you make. The Little Book of Common Sense Investing will help you make the right choices. It will steer you away from the super risky get poor quick plans and give you the best plan to build long term wealth through investing. A must read for anyone looking to invest wisely.

5. The Barefoot Investor: The Only Money Guide You’ll Ever Need by Scott Pape.

The Barefoot Investor

Here’s one for the Aussies. Scott Pape gives his sound advice for setting up your life financially. And he’s a fun read too. And now he’s come out with a followup book to teach our kids. Scott is worth listening to. It’s not a get rich quick scheme, just straight up advice to build a secure future. And it’s filled with stories of real life Aussies that we can relate to.

So there they are 5 personal finance books to transform your life. And I’m convinced they will set you on a great trajectory. So get one and start reading! And let me know what your think too.

2 comments

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2 comments

Shaun April 12, 2020 - 5:06 pm

Hi Luke. Great list.
I also recently made a list of my top 10 and all of the books in your list appeared in my top 10 except 1 – Rich Dad Poor Dad.
A really contentious move I know, but it’s not a book I love. I know I should get on board, but Hey, I know what resonates for me.
On the other hand, perhaps because I am resisting, it might just be the only book I need to read.

Thanks for the list though – definitely first class

Shaun

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dollarwise April 12, 2020 - 5:36 pm

Thanks Shaun, great to hear from you. I personally love Rich Dad, poor Dad. I particularly like using it to teach my kids when they tell me about wanting to work at mcdonalds or something else. Here’s the conversation. So you want to work for $10/hr or less? Well, maybe. Who do you think earns more, the owner of the franchise or the worker? the owner. Which would you rather be? The owner. Will earning $10/hr get you there? No. What will? And then we move on to discuss models that grow wealth beyond a mere wage. It’s a mindset thing and that’s what I like about it. I also love that it puts your house as a liability and not an asset. That is so true and helpful. Cheers Luke.

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