The average CEO reportedly reads a book a week. Whether that is actually true or not aside, reading books on personal finance, investing and entrepreneurship will help anyone to become more financially savvy and to make better financial decisions.
In this article, you will be introduced to the five best personal finance books you should read to improve your financial know-how.
Become financially savvy by reading personal finance, investing and entrepreneurship books.
The Richest Man in Babylon
"The Richest Man in Babylon" by George S. Clason is one of the most educational books when it comes to money management. The book covers insightful stories about financial success and failure in ancient Babylon. Interestingly, all the lessons found in these stories can still be applied today in both business and for money management.
Rich Dad, Poor Dad
"Rich Dad, Poor Dad" by Robert Kiyosaki is another classic read about business, money management and investing. The author explains how the lessons from his “rich dad” - the wealthy father of a friend - helped him to become a successful businessman and investor and contrasts the advice he gave him with that from his “poor dad” - his own father. The book contrasts how to best manage your money, what risks to take in business and which ones to avoid and how to invest for future financial success.
Reading personal finance books is a great way to increase your financial know-how.
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The Millionaire Next Door
"The Millionaire Next Door" by Thomas J. Stanley and William D. Danko is a study of U.S. households that are worth over one million dollars, which provides insights in how average middle-class individuals have achieved the status of millionaires and found that “people whom we define as being wealthy get much more pleasure from owning substantial amounts of appreciable assets than from displaying a high-consumption lifestyle.”
Think and Grow Rich
Finally, there is "Think and Grow Rich" by Napolean Hill. This book is more than a book about money. This book’s main premise is to envision the success you want, focus on it and work towards it to achieve whatever you seek to achieve in life. The author gives insightful examples of the several of the greatest business people in our lifetime to illustrate how having a clear vision of your goals is a key ingredient to success.