Advertising
Advertising

10 Books You Should Read To Get Rich

10 Books You Should Read To Get Rich

The journey to get rich requires certain tools. Although many seem to ignore this, books can help you build your mind, zeal and knowledge to become successful and rich. Therefore I have taken the effort to look through some amazing books that can do a lot to get your financial journey oriented in the right direction.

1. The Millionaire Next Door

This classic which was first published in 1996 and written by Thomas J. Stanley and William D. Danko offers in-depth knowledge from the findings of the authors of how America’s millionaires became rich in seven key steps. One of the high points discussed was the simple and strategic method of spending less than you earn. By doing this, you could avoid impulse buying and diversify your investments.

2. Rich Dad, Poor Dad

Robert T. Kiyosaki’s book remains a stunner any day and anytime. It is a must read if you want to start crafting a path to wealth while you are young. In this book, Kiyosaki was able to bring the distinguishing factor or habits of his father, who was a highly educated man yet poor, and his other father who was a dropout but became a self-made multimillionaire. The focus follows what are termed the different “quadrants” of the different classes of people in society and how you can elevate yourself to the Investor quadrant which will make you super rich.

Advertising

3. How Rich People Think

Steve Siebold author of “How Rich People Think” has spent 30 years interviewing 1, 000 millionaires and billionaires to figure out what distinguished them from the average person. In the book, Siebold offers concrete action steps to follow as an ambitious person to building your own wealth.

4. Think and Grow Rich

Written in an era of Great Depression, author and former adviser to President Franklin Roosevelt interviewed over 500 successful people to discover the keys to good fortune. A classic and bestselling book, it discusses how you should start planning by setting your aim and desire of how much you really want to earn. It all starts from the power of your thoughts and then action.

5. ‘You’re So Money: Live Rich, Even When You’re Not’ 

Directed towards the middle class earners who are making entry level pay, author Farnoosh Torabi talks about how you can save money in certain areas of your life. The book is a great read and offers wonderful advice to young people. It has a witty, funny and concise approach to explaining to people how they can handle their finances appropriately on the road to becoming rich.

Advertising

6. The Richest Man in Babylon

Written by George S. Clason, this book unearths principles and secrets that will lead you to personal wealth. As one of the most inspirational works on the subject of thrift, financial planning and personal wealth, “The Richest Man in Babylon” identifies the solution to financial problems that will guide you to wealth. Such secrets such as keeping your money, making more by investing and always finding a way to add value makes this book a celebrated bestseller.

7.  TheScience of Getting Rich (A Thrifty Book) 

Wallace Wattle provides the intellectual framework of building personal wealth through positive thinking. The book talks about how you can create wealth through equipping your thoughts to attract wealth. For example, if you believe that money is evil, then you won’t be wealthy.

8. The Automatic Millionaire

The Automatic Millionaire written by David Bach explains that you do not need to get rich through a budget but with a well laid out plan. The Automatic Millionaire offers timeless principles including phone numbers, websites and every element that will get you started on your road to wealth within an hour.

Advertising

9. Screw It, Let’s Do It: Lessons in Life

Written by seasoned entrepreneur and billionaire, Richard Branson offers practical steps of how he became successful and how you can too. His book is based on his personal experiences and important lessons which have influenced him and will certainly influence you too if you want to become rich.

10. The Millionaire Fast Lane

The Millionaire Fast Lane helps you see the difference between what you cannot do and what you can. There is the Slowlane Road and the Fast Lane road, which involves ignoring popular advice and settling for the unconventional path to attaining wealth and financial security.

So there you have it, ten books that can define your path to being rich.

Advertising

Featured photo credit: http://www.pixabay.com via pixabay.com

More by this author

Casey Imafidon

Specialized in motivation and personal growth, providing advice to make readers fulfilled and spurred on to achieve all that they desire in life.

Master These 15 Skills for Success to Get Ahead in Your Career 15 Signs Of Self-Absorbed People Follow This Simple Success Formula to Stop Feeling Stuck in Life 8 Powerful Traits of Incredibly Successful Entrepreneurs Around the World 20 Signs You’re A Charming Person Though You Are Not Aware

Trending in Money

1 How to Use Credit Cards While Staying Out of Debt 2 How to Use Debt Snowball to Get out from a Financial Avalanche 3 How Personal Finance Software Helps You Get More Out of Your Money 4 The Best Ways to Save Money Even Impulsive Spenders Can Get Behind 5 How to Answer the Tough Question: What are Your Salary Requirements?

Read Next

Advertising
Advertising
Advertising

Last Updated on March 4, 2019

How to Use Credit Cards While Staying Out of Debt

How to Use Credit Cards While Staying Out of Debt

Many people will suggest that the best thing to do with your credit cards during these tough economic times is to cut them up with a pair of scissors. Indeed, if you are already in huge debt, you probably should stop using them and begin a payback strategy immediately. However, if you are not currently in trouble with your credit cards, there are wise ways to use them.

I happen to really love my credit cards so I will share with you my approach to how I use mine without getting into deep financial trouble.

Ever since about 1983 when I got my first Visa card, I continue to charge as many of my purchases as possible on credit. Everything from gas, groceries and monthly payments for services like my cable and home security monitoring are charged on credit. Despite my heavy usage, I have maintained the joy of never paying any interest fees at all on any of my credit cards.

Advertising

Here are some tips on how best to use your credit cards without falling into the trap of paying those nasty double-digit interest fees.

Do Not Treat Credit Cards as Your Funding Sources

Too many people treat their credit cards as funding sources for major purchases. Do not do this if you want to stay out of trouble. I use my credit cards as convenient financial instruments so I do not have to carry around much cash. In fact, I hate carrying cash, especially coins. When you buy things on credit, the purchases are clean and you will not get annoying coins back as change.

I do not rely on my Visa, MasterCard or American Express to fund any of my purchases, large or small. This brings me to my golden rule when it comes to whether I will pull out any of my credit cards either at a retail or online store.

Advertising

I never purchase anything with my credit cards if I do not have the actual cash on hand in my bank account.

If I really cannot pay for the item or service with cash that I already have at the bank, then I simply will not make the purchase. Remember, my credit cards are not used as funding sources. They are just convenient alternatives to actual cash in my pocket.

Make Sure to Always Pay Off Balances in Full Each Month

The next very important part of my overall strategy is to make absolutely sure that I pay the balances in full each and every month no matter how large they are. This should never be a problem if the cash has been budgeted for my purchases and secured in the bank. I have always paid my full balances each month ever since my very first credit card and this is why I never pay interest charges.

Advertising

Using Credit Cards with Rewards

Most of my credit cards are of the “no annual fees” type, including one MasterCard on a separate account I keep at home as a spare in case I lose my wallet or incur any fraudulent charges. However, I do use a main Visa card which does have an annual fee because all purchases on that card reward me with airline frequent flyer points. For me, the annual fee is worth it since I do travel and I get enough points to redeem many free flights.

You have to decide for yourself if you will charge enough purchases on credit each year without paying interest charges to warrant a credit card that rewards you with airline points (or other rewards). In my case, the answer is “yes” but that might not be the case for you.

I occasionally use a MasterCard or American Express card on small purchases just to keep those accounts active. Also, I have been to the odd retailer that accepted only a certain type of credit card, so I find that having one from each major company is quite handy. Aside from my main Visa card which earns the airline points, the rest of my cards are of the “no annual fees” variety.

Advertising

So this is how I use my credit cards without getting into any financial trouble with them. This strategy is recommended only if you are not in debt, of course. In fact, it is worth keeping in mind once you’re out of debt so that you can keep your credit cards active and treat them responsibly.

What are your credit card usage strategies? Let me know in the comments — I’d love to hear what methods you use.

Featured photo credit: Artem Bali via unsplash.com

Read Next