- Personal Finance
Five Financial Success Books That Every Person Should Read
Financial success is an area of life that is extremely important and that almost everybody dreams about having. Unfortunately, many people fail in this area of their lives due to a lack of knowledge and a lack of resources. According to social research studies, financial trouble and scarcity is one of the top reasons why marriages end in divorce in highly developed countries. This is mainly due to bad spending habits and a distorted view of money. However, there are excellent books and resources available to help people become financially prosperous. Below are five books that I highly recommend that deal with the subject of money and finance.
The Total Money Makeover by Dave Ramsey
This book deals with the subject of financial debt and its causes. Ramsey offers unique ways in which people can substantially reduce their debts or abolish them completely. This book happens to be a national bestseller due to the debt epidemic that America is presently facing. Unlike many other authors who write on the subject of finance and wealth, Ramsey has been a multi-millionaire two times over. He discusses the bad habits that landed him in bankruptcy, and shows readers how they can live moderately and begin to build wealth.
Mentored By a Millionaire by Steven K. Scott
This book covers the specific strategies that are needed to accrue substantial wealth. Steven K. Scott reveals how that although hard work and persistence is imperative for success, still, there is a need to be practical and precise in how to produce wealth. This author has been through multiple failures as well, but is now a multi-billionaire. The strategies in this book are the same principles that the author used to create his fortune in the marketing field, and can be used in literally any occupation.
Secrets of the Millionaire Mind by T. Harv Eker
In this book, the author writes about the psychological aspects of money. He contends that wealth accumulation derives from having a prosperous mindset. He also shows the different ways in which poor, middle class, and wealthy people think about money. This book covers seventeen contrasting principles between the mindsets of poor and wealthy people on this subject, and gives exercises at the end of each principle in order to put into action and to start thinking like a millionaire.
Smart Couples Finish Rich by David Bach
This book provides a detailed plan on how to maximize your savings and retirement. Sections include how to build your retirement basket, security basket, and dream basket. There are also entire chapters on how to increase your income by ten percent in only nine weeks, and the ten biggest financial mistakes that couples make. Although the book is obviously tailored towards couples, singles can also derive much needed financial wisdom from this exceptional book.
Saving On a Shoestring by Barbara O’ Neill
This book shows practical and creative ways in which people can save a substantial amount of money. Cutting expenses and then investing the savings are one of the best ways to begin to build long term wealth. The author teaches you how to define your values and goals, and them offers 25 ways in which to save more money. In addition, she teaches you how to develop a spending plan and offers 50 ways to reduce your income taxes.
These five books, in my opinion, are some the best financial books on the market. Each book discusses a different aspect of money so that the person who is interested can attain a holistic understanding of the mechanics of wealth accumulation. One of the main reasons why so many people struggle in this particular area is because of a fundamental lack of money management. Money should not be loved, but respected, and these books have the capacity to teach that respect and help put you on the fast track to financial success.