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Last Updated on October 9, 2017

19 Best Finance Books That The Richest People Read

19 Best Finance Books That The Richest People Read

If you want to become one of the richest people, should you just read what they read?

Maybe.

But there’s more. Besides getting the information the wealthy are getting, more importantly, you should also learn thinking about money and prosperity like they do.

You Need These 2 Types of Finance Books:

1. The financial information in black and white, tried and true. Follow it and you’re bound to succeed.

2. Your own inside ideas and beliefs about money may need to be shifted. Without doing this, no black and white money plans will ever work for the long term or even at all.  There are books that deal with both below.

Read both types of books and you may be well on your way to be a rich.

    The Law of Divine Compensation, On Work, Money and Miracles

    by Marianne Williamson

    According to Marianne Williamson, our thoughts create our financial reality.

    “In our ability to think about something differently lies the power to make it different”.

    This is a book of work, money and miracles.

    eBook |Print |  Audiobook


      The Science of Getting Rich

      by Wallace Wattles
      This book from 1910 provided the intellectual framework for many personal wealth-building seminars.  Wallace Wattle believed that how you think about your ability to accumulate wealth is how you create wealth. If you believe that money is evil, you won’t be wealthy.

      eBook | Print | Audiobook


        The 50th Law

        by 50 Cent and Robert Greene

        Robert Greene is an American author and speaker known for his books on strategy, power and seduction. He has written four international bestsellers: The 48 Laws of Power, The Art of Seduction, The 33 Strategies of War, The 50th Law with 50 Cent.

        This book is recommended by top entrepreneur’s, with the central theme of this being fearlessness, something much needed in re-framing your thoughts about wealth, being rich, and that anyone can make it financially.

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        eBook | PrintAudiobook


          Secrets of the Millionaire Mind

          by T. Harv Eker

          This is my personal favorite. It is written by T. Harv Eker, a man that made it to the top a few times and delves into the mind and beliefs of wealthy people.

          It has strategies that are simple to follow and he offers a free, live event to learn the tools in this book. He says the change of attitude is just as important as financial education and he shows you just how to do this.

          eBook | Print | Audiobook


            How to Get Out of Debt, Stay Out of Debt & Live Prosperously

            by Jerrold Mundis

            This may be the book you want to pick first.  Many wealthy individuals live frugally at first and understand the importance of eradicating your debt. Then you can go ahead and create your wealth.

            Don’t skip this one.

            eBookPrint |  Audiobook

              Think and Grow Rich

              by Napoleon Hill

              This book was written after the 1929 great depression and took two decades of research that the author Napoleon Hill conducted.

              He was a poor journalist and interviewed over five hundred people that were successful. John D. Rockefeller, George Eastman, W. Wrigley Jr., and Charles Schwab, and more. This book is his research in the form of steps that are still relevant today.

              Books on Financial Information:

              eBookPrint |  Audiobook


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                The Automatic Millionaire

                by David Bach

                This book is a great start. It’s a common sense approach that is step by step.

                eBookPrint |  Audiobook


                  The Intelligent Investor of Practical Counsel

                  by Benjamin Graham and Jason Zweig

                  Written in 1949, Warren Buffet has turned to this book often.

                  “Chapters 8 and 20 have been the bedrock of my investing activities for more than 60 years,” he says. “I suggest that all investors read those chapters and reread them every time the market has been especially strong or weak.”

                  eBook | Print | Audiobook


                    The Investment Answer

                    by Daniel C. Goldie, CFA, CFP and Gordon S. Murray

                    Gordon Murray teamed up with his financial adviser, Daniel Goldie after he was diagnosed with brain cancer. This is a simple guide to investing.

                    “I don’t think you can get a better unbiased approach. The guy has nothing to gain other than to give his last and best advice,” says Steve Lockshin, founder and chairman of Convergent Wealth Advisors.

                    eBook |  Print | Audiobook


                      Jim Cramer’s Get Rich Carefully

                      by James J. Cramer
                      Jim Cramer’s new book if full of research and logic.

                      eBook | Print | Audiobook


                        One Up On Wall Street

                        by Peter Lynch

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                        The Author, Peter Lynch gives you information on how he invests and uses a sensible approach.  He includes how to view important factors when making an investment choice such as how to analyze a company.

                        eBook | Print |  Audiobook


                          Screw It, Let’s Do It: Lessons In Life

                          by Richard Branson

                          “In Screw It, Let’s Do It I’ll be looking forwards to the future. A lot has changed since I founded Virgin in 1968, and I’ll explain how I intend to take my business and my ideas to the next level and the new and exciting areas – such as launching Virgin Fuels – into which Virgin is currently moving.

                          But I have also brought together all the important lessons, good advice and inspirational adages that have helped me along the road to success”.

                          eBookPrint |  Audiobook


                            The Richest Man in Babylon

                            by George S. Clason
                            George S. Clason’s parables about acquiring wealth have inspired investors since the 1920s.  He emphasizes charitable giving, and saving over spending.

                            eBookPrint | Audiobook


                              The Millionaire Fast Lane

                              by M J DeMarco

                              One of his strategies:  to use the volatility of the financial markets to get rich quickly and enjoy it now.

                              “Show me a 22-year-old who got rich investing in mutual funds. Show me the man who earned millions in three years by maximizing his 401k. Show me the young twenty-something who got rich clipping coupons. Where are these people? They don’t exist.”

                              eBook | Print | Audiobook


                                The Millionaire Next Door

                                by Thomas Stanley and William Danko

                                By an Amazon reviewer: “Every now and then very, very special book comes along with a “aha” and this is such a book. Many people are spending their way through high incomes—keeping up with the “JONESES” high profile lifestyle’s encumbered with high debt and zero savings. I worked for a millionaire one time who said “Money buys clothes, clothes don’t buy anything!” He advised us to buy our “toys” clothes, cars, vacations etc. off profits of profits and never spend principal!” That is the basic premise of this book – build profits, then enjoy them – but don’t spend principal.”

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                                eBookPrint | Audiobook


                                  Rich Dad Poor Dad

                                  by Robert T. Kiyosaki

                                  “An eighth-grade dropout who spends less than he earns is smarter than a college professor who can’t make ends meet”

                                  This book makes it to most lists on financial freedom and wealth. He says that the key to great wealth is a person’s ability to convert earned income, such as a paycheck into passive income.

                                  eBookPrint | Audiobook


                                    Spirit Driven Success

                                    by Dani Johnson
                                    This book is based on her personal experience as one of the most sought after success coaches in the world, and a self-made multi-millionaire. Inside, you’ll discover the spiritual keys that unlock the door to true wealth. You’ll also uncover the habits that lead to poverty and the lies about money.

                                    eBook | Print | Audiobook


                                      The Little Book of Common Sense Investing

                                      by John C. Bogle
                                      The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns is a 2007 book on index investing, by John C. Bogle, the founder and former CEO of the Vanguard Group.

                                      eBook | Print | Audiobook


                                        Market Wizards

                                        by Jack D. Schwager

                                        Market Wizards is a book written by Jack D. Schwager and published in 1988 in which he interviews a wide range of traders with excellent track records of profitability.

                                        eBook | Print | Audiobook

                                        You are now armed with 19 books on how to think like the rich and how to invest like they do.

                                        Here is my challenge:

                                        Read one book a week for the next 19 weeks and in less than a half a year you could be well on your way to a future of wealth, profit and freedom to live the life you desire.

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                                        Published on September 17, 2018

                                        How Being Smart With Your Money Leads to Financial Success

                                        How Being Smart With Your Money Leads to Financial Success

                                        Achieving financial success is not something that just happens. Maybe if you win the lottery or something, but for the average person like you or me, it comes from a series of small steps you take over a long period of time.

                                        With each step, you form a new smart money habit. And with each smart money habit, you build towards financial independence.

                                        So what sort of habits can you form to get on that path? Let’s take a look at smart money habits you can start today to get you closer to a financially independent future.

                                        1. Avoid being “penny wise but pound foolish”

                                        It’s tempting to try saving a couple cents here and there when buying small items. However, that’s not where the real money is saved. You’re putting in extra effort for something that doesn’t move the needle.

                                        You get the most bang when you’re able to cut down on your bigger bills. For example, finding a lower interest rate for your mortgage could save you $50+ per month. And cutting your transportation bill by purchasing a cheaper car or taking public transportation can provide large gains as well.

                                        So, look at your recurring expenses such as housing, transportation, and insurance, and see where there’s wiggle room. It’s a much better use of your time than trying to pinch pennies here and there on smaller purchases.

                                        2. When you want something big, wait

                                        Impulsivity can get you in trouble in most aspects of life. Finances are no different.

                                        It’s human nature to see something and want it right then and there. It starts as a kid in the checkout line at the grocery store, and it continues on through adulthood.

                                        We get an idea in our head of something we want, and it’s hard not to go out and get it right then.

                                        A good example is wanting a new car. Perhaps you’ve had your car for several years. It’s crossed the 100k mile mark. Maybe maintenance is due, and you’re annoyed that you need to replace the timing belt or purchase new tires.

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                                        So, you get the itch.

                                        You start digging around online, and you realize you could trade in your current car for something newer and more exciting… all for a few hundred bucks a month. Then you get obsessed.

                                        Here’s where you have to take a step back.

                                        Your newfound obsession is clouding your judgement. Rather than giving into the impulse, wait it out.

                                        Set a timeframe for yourself. Maybe you come back to the decision three months down the road. See if the obsession lasts.

                                        It might, but often, a funny thing happens. Often, you forget about it. And often, you find that the new car wasn’t a need at all.

                                        The impulse faded. And you just saved yourself a ton of money.

                                        3. Live smaller than you can afford

                                        You finally get that big raise. And you want to celebrate – and why not?

                                        You’ve been looking forward to this forever. And after all, it was all due to your hard work.

                                        That’s fine, splurge a little. However, make it a one-time deal and be done.

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                                        Don’t get caught in the trap that just because you’re now making more money, you should spend more.

                                        Too often, people get more money and feel like they that gives them the means to buy a bigger house, a bigger car… you know the drill. Resist.

                                        The fact is that living smaller than what you can afford is one of the fastest ways to build savings.

                                        But if you constantly upgrade as you begin to make more, then you’ll never get ahead. You’ll just build up more debt along the way and have just as little wiggle room as before.

                                        4. Practice smart grocery shopping

                                        Food… it’s one of the biggest portions of any budget. And if you’re not careful, it can be one of the biggest drains on your wallet.

                                        But luckily, there are a few things you can do to ensure that you stay smart with your money when buying groceries.

                                        Create a grocery budget

                                        Set a strict weekly grocery budget. When you know how much you can spend on groceries, you can then plan your weekly menu around it.

                                        Once you know what all you need, you can go shopping and keep a running tally as you shop to ensure you’re on track.

                                        I tend to do this in my head, rounding for each item. However, writing it down as you go would probably work best for most people.

                                        Make a list… and never deviate

                                        Never go to the grocery store without a list. If you go to the store with a ballpark idea in mind, you don’t have a true ide of what you need.

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                                        You’re not well-researched. You don’t know what the sales are. As a result, you’re going to make decisions on the fly.

                                        These impulse decisions will lead to overspending, which will derail your grocery budget.

                                        Eat before going grocery shopping

                                        It’s also important to eat prior to going to the grocery store. Hunger is a powerful force.

                                        If you’re shopping on an empty stomach, everything is going to look good. In particular, you may find a lot of ready-made, processed snacks will look enticing.

                                        After all, you’re hungry now and that food is easily available. So subconsciously, you may lean towards those items.

                                        Unfortunately, not only are those items typically less healthy, but they’re likely more expensive. You pay for convenience.

                                        However, when you eat prior to shopping, then you’ll shop with a clear mind. Your hunger won’t cloud your judgement, influencing you to make poor decisions like a cartoon devil resting on your shoulder whispering in your ear.

                                        This makes it much easier to stick to your grocery plan.

                                        5. Cancel your gym membership

                                        Now that you’re all set on your food, it’s time to get smart about managing your budget in terms of physical fitness. And let’s begin by avoiding the gym. The gym bill, that is.

                                        The average gym membership costs around $60 per month. That’s $720 a year.

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                                        Yet, two out of three gym memberships go unused. That means two-thirds of people who have a gym membership are literally giving away almost a thousand bucks a year. It’s crazy!

                                        I recommend seeking an alternative. One good alternative is to look into fitness streaming services.

                                        Streaming services allow you to stream hundreds of workouts like Insanity and p90x, right in your own home for around $10-20 a month. That’s $40-50 less a month than the average gym membership.

                                        Of course, then there’s the free option. The internet is full of free workouts that you can do on your own with minimal or no equipment.

                                        For example, there’s the Couch to 5K program, that I personally used a decade ago to ease myself from couch potato to running my first 5K race. If I could do it, anyone could.

                                        Then there are free resources like reddit that have limitless information on workouts. The Fitness subreddit has done all the research for you, populating workout tips and detailed workout routines for anyone to use in their wiki.

                                        There are several routines that require no equipment. And you can join in on the subreddit to become part of the community, making it easier for those seeking comraderie and encouragement in their fitness goals. All for free.

                                        It’s baby steps… And baby steps can start now!

                                        I’ve never met anyone that can’t stand to be a bit smarter with their money. And on the flip side, anyone can get smarter with their money. But remember, it doesn’t happen all at once.

                                        Begin by fighting your impulses. Prepare for the week and be smart at the store. And cut monthly expenses like gym memberships that are overpriced and you probably aren’t getting your money’s worth out of anyway.

                                        The devil is in the details. And the details can change your lifestyle and prep you for a financially independent future.

                                        Featured photo credit: Unsplash via unsplash.com

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