At the beginning of the new year, it is likely many individuals resolved to get a better grip on their finances in 2018. However, with January and February officially behind us, one has to wonder just how successful those people were at working toward that goal. Perhaps there are some who are still progressing nicely, simultaneously paying down debt and building up a strong savings account. Others, though, may still be struggling with where to start this new journey.
Thankfully, we live in an era where information is easy to access, whether by searching the internet, listening to podcasts, or even reading relevant books. With that in mind, perhaps it would be beneficial for us to explore the most helpful books on personal finance.
If you have ever read an article about paying off debt, you will likely recognize this man’s name and even several of his strategies. With more than 8 million weekly podcast listeners and five New York Times bestsellers to his name, Dave Ramsey is one of the most trusted figures in finance.
Throughout this particular book, Ramsey provides a strong foundation on saving, paying down debt, and effectively preparing for retirement. Whether you are just getting started in the real adult world, or if you need some help in getting back on track, this book will prove to be an invaluable resource.
Originally penned and published in 1997, Rich Dad Poor Dad has remained on the bestseller list for its entire lifespan — and it does not seem to be going anywhere any time soon. In fact, Kiyosaki’s lesson-packed memoir is the top selling finance book of all time.
Throughout this book, Kiyosaki puts a spotlight on how wealthy parents manage and teach their children about money, and why middle- to working-class parents ought to relay the same lessons — even if they do not necessarily have the same amount of wealth to literally follow that advice themselves. After all, one does not need a tremendous income to ensure they can live comfortably in the long-run; they simply need to be equipped with the proper tools to do so.
It is no secret that Americans are mostly inefficient at saving and preparing for retirement. However, they are becoming increasingly aware of and concerned for their health. Therefore, Chatzky and Roizen formed their entire book around a single analogy: we ought to treat our finances the same way we treat our health.
After all, by ensuring we do not consume more calories than we burn — or spend more money than we earn — we will not run out of money or break a hip during retirement, thus ensuring our golden years are truly golden.
Evidently, there are some worthwhile resources available to individuals with every level of financial know-how. However, they will do little good if they are not utilized properly. Therefore, make it a point to add at least one of the above listed books to your reading list in 2018. You will never regret taking the time out to learn more about your finances.