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20 Best Personal Finance Books You Should Read Now

20 Best Personal Finance Books You Should Read Now

When we talk about understanding how to manage money, personal finance is one of the most essential skills you can learn. But without any guidance, it is difficult for us to understand the value of handling our money and using it to make even more. However, if you walk into any book store or library, you’ll find there a plenty of guides out there, in the form of personal finance books offering advice on financial planning. But all advices are not equal. To begin, you need some easy-to-read books that will explain you the basics of financing, the best way to save money, and how to pay off your loans.

Here’s a list of books that will help you in getting out of the sneak and rat race of debt and achieve the treasure that you truly deserve.

    The Millionaire Next Door

    by Thomas J. Stanley and William D. Danko

    The Millionaire Next Door is great for all those people who have just come into the game of personal financing, because this book talks about the fundamentals of personal finance with simple, consistent instructions .This book will help you in developing good practices from the very beginning.

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      The Investment Answer

      by Daniel Goldie and Gordon Murray
      In this book, Goldie and Murray pointed out a general guide to capitalizing by concentrating on five basic decisions every investor has to make. This brief, easy-to-read book is the most approachable investing book I’ve read.

      Print | eBook | Audiobook


        Psych Yourself Rich

        by Farnoosh Torabi
        In this book, you’ll learn about the relationship between you and the money. Farnoosh has beautifully explained how our “emotions influence when managing personal finances.” Precisely, this book will bring back you to the concept of behavioral finance and how you can discover your weaknesses and get the most out of your strengths to make structure and maintaining money as stress free and as organized as possible!

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          The Millionaire Mind

          by Thomas J. Stanley
          The Millionaire Mind aims a millions of people who have stored considerable wealth and live in ways that flexibly exhibit their prosperity. The writer reveals the surprising answers to some difficult personal finance questions, presenting them to readers through solid examples.

          Print | eBook


            I Will Teach You To Be Rich

            by Ramit Sethi

            In a friendly, naughty style, Sethi put down a serious six-week personal finance program for those who want to master their finance management with minimum effort. This book is so comprehensive that you feel like you’ve been to a long seminar with an outstanding expert after reading it.

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              The Automatic Millionaire

              by David Bach

              This book highlights the influence of money by introducing the well-known Latte Factor. The author would make you understand the amount of your money goes to waste, realizing how better you can manage it by making the right selections in spending your money. This book will also help you in identifying where you unconsciously use your money and how those little expenses can be used to make you financially strong.

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                Women & Money

                by Suze Orman
                Every woman in the world should read this book which is designed specially to empower women. Suze wrote this to help women, face their financial challenges and to make women financially strong. So, if you are a woman then you should read this informative book, which’ll guide you on how you must take care of your finances.

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                  You’re So Money

                  by Farnoosh Torabi
                  Aninstructive and realistic finance book which concisely tackles the issues college students are mostly likely to face in handling their own finances. Torabi explains readers how to survive without draining the bank and where to find easy places to save money.

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                    Thinking, Fast and Slow

                    by Daniel Kahneman
                    Managing personal finance is a series of decisions and this book,Thinking, Fast and Slow,drives support for the readers by understanding what pushes them to make the decision.

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                      Debt-Free by 30

                      by Jason Anthony and Karl Cluck
                      Debt-Free By 30 enlightens the basics of arranging your debt, discovering ways for extra money to repay the debt faster. In this book, readers can cheer up and can learn about credit, health insurance, financing a car and expenses.

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                        The Total Money Makeover

                        by Dave Ramsey
                        It is an incredible book to start with. It is a complete guide to saving fund, starting to invest, getting out of a mortgage, saving for a rainy day, paying off your debt and reaching financial prosperity in your life.

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                          Your Money Or Your Life

                          by Joe Dominguez and Vicki Robin

                          In this era of huge economic ambiguity when everyone is worried about their money and how they spend it, this bestselling book is an essential read. It tells the reader how to pay off debt and cultivate savings, rearrange priorities, solving inner encounters between values and lifestyle, and lot more.

                          Print | eBook


                            The Money Book for the Young

                            by Suze Orman
                            This book again by Suze, Tackle financial problems like student loans, debt, student loan, credit card, debt, and insurance. It communicates straight to people requiring help to deal with finance issues and financial plan for the first time.

                            Print | eBook | Audiobook


                              Beating The Street

                              by Peter Lynch
                              In the book Beating The Street, Peter Lynch describes how to become an expert in handling finance of a company and ways to build a profitable investment portfolio based on your own experience and insights.

                              Print | eBook


                                The Psychology of Investing

                                by John Nofsinger
                                A professor of finance, Nofsinger investigates into the behaviors, psychology influence investors, providing a complete summary on making smart investing decisions for those, who are keen to start their own business.

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                                  7 Money Rules for Life

                                  by Mary Hunt
                                  Mary Hunt is not new to budgeting and personal finance. Although to many she has a background of home economist than an investment guru. This book 7 Money Rules of Life steps out a bit of her old-style comfort zone to comprise lots of facts about financing, retiring, investing and preparation for your financial future.

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                                    Rich Dad Poor Dad

                                    by Robert T. Kiyosaki
                                    This book is an investment classic, and is very informative, worth a read by anybody trying to find firm grip financially. Always keep this book on your shelf.

                                    Print | eBook


                                      The Money Saving Mom’s Budget

                                      by Crystal Paine
                                      Money Saving Mom is one of the best home economists’ book. This book is full of clear guides to getting your family’s financial plan in hand so that you can live the life you want to live.

                                      Print | eBook


                                        The Behavior Gap

                                        by Carl Richards
                                        In this book, Richards centers the senseless mistakes people make again and again financially, buying expensive because of others, buying things that aren’t important — and explains how our natural characters lead us off the track even knowing what is correct.

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                                          The Richest Man in Babylon

                                          by George S. Clason
                                          This Book is read by millions, this precious book embraces the key to success-in the mysteries of the ancients. Constructed on the famous “Babylonian principles”, this bestseller book offers a thoughtful solution to personal finance problems; enlightening the mysteries to saving money, protecting money and earn more money.

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                                          Last Updated on January 2, 2019

                                          How Personal Finance Software Helps You Get More Out of Your Money

                                          How Personal Finance Software Helps You Get More Out of Your Money

                                          Do you know what mental health experts point to as the biggest cause of stress in the United States today? If you said “money,” then ding, ding, we have a winner!

                                          Three out of four adults today report feeling stressed out about money at least part of the time. People are either worried about not having enough money or whether they’re putting the money they do have to use in the best possible way.

                                          Your money is either in charge of you or you’re in charge of it, there’s no middle ground. Using some type of personal finance software can help alleviate some of that money stress and better allow you to manage your money effectively. Without it, you may just be setting yourself up for constant financial worry. Life is already tough enough and there’s no need to make it more difficult by simply hoping your money issues will all work out in your favor. Hint: they won’t.

                                          This guide will help you to understand how personal finance software can better assist with both accomplishing long term financial goals and managing day-to-day aspects of life.

                                          Whether it’s tracking the savings plan for your child’s college fund or making sure you won’t be in the red with the month’s grocery budget, personal finance software keeps all this information in one convenient place.

                                          What Exactly is Personal Finance Software?

                                          Think of it like the dashboard in your car. You have a speedometer to tell you how fast you’re going, an odometer to tell you how far you’ve traveled, and then other gauges to tell you things like how much gas is in the tank and your engine temperature. Personal finance software is essentially the same thing for your money.

                                          When you install this software on your computer, tablet, or smartphone, it helps to track your money — how much is going in, how much is going out, and its growth. Most personal finance software programs will display your budget, spending, investments, bills, savings accounts, and even retirement plans, levels of debt, and credit score.

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                                          How It Leads to Financial Improvement

                                          It shouldn’t come as a surprise, but people who regularly monitor their finances end up wealthier than those who don’t. When you were a kid, keeping track of all of your money in a porcelain piggy bank was pretty easy. As we get older, though, our money becomes spread out across things like car payments, mortgages, retirement funds, taxes, and other investments and debts. All of these things make keeping track of our money a lot more complicated.

                                          Some types of personal finance software can help make things a little less complicated, setting you up to meet financial goals and taking away some of the stress associated with money.

                                          Even if you already have a Certified Financial Planner (CFP) some type of personal finance software can be of great benefit. Whereas CFPs focus on the big picture of your money, they don’t handle the day-to-day aspects that determine your overall financial health.

                                          It’s also not nearly as complicated as you might think and can take out a lot of the tedium that comes with doing everything on an Excel spreadsheet or with a pad and pencil.

                                          Types of Personal Finance Software

                                          When it comes to personal finance software, it generally fits into two categories: tax preparation and money management.

                                          Tax preparation software such as Turbo Tax and H&R Block’s software can help with everything from filing income taxes to IRS rules and regulations and even estate plans. Plus, there’s the benefit of filing online and getting your refund check a lot faster than if you were to mail off your forms after waiting in line at the post office.

                                          For the purpose of this article, however, will be focusing more on the personal finance software that aids with money management.

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                                          Money management personal finance software will help you to see the health of your cash flow, pay down debt, forecast for expenses and savings, track investments, pay bills, and do a host of other things that 30 years ago would have practically required a team of accountants.

                                          When to Use Personal Finance Software

                                          So far we’ve gone over what exactly personal finance software is and how it can be a benefit to your money. The next logical step in this whole equation is determining when it should be used and how is the best way to go about getting started using it.

                                          Below are four of the most common and practical ways to use personal finance software. If all or any of these apply to you and your money, then downloading some type of personal finance software is going to be a smart move.

                                          1. You Have Multiple Accounts

                                          There’s a good chance that when it comes to your money, it’s in more than one place. Sure, you probably have a checking account, but you may also have a savings account, money market account, and retirement accounts such as an IRA or 401k.

                                          If you’re like the average American, you probably have two to three credit cards as well. Fifty percent of Americans also don’t have loyalty to just one bank and spread their money across multiple banks.

                                          Rather than spending hours typing in every detail of every account you have into a spreadsheet, many programs allow you to easily import your account information. This will help to eliminate any mistakes and give you a bird’s eye view of everything at once.

                                          2. You Want to Automate Some or All of Your Payments

                                          Please don’t say that you’re still writing out paper checks and dropping each bill in the mailbox. While it’s noble that you’re doing your part to keep postal workers employed, we’re 18 years into the 21st century and you can literally pay every bill online now.

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                                          There’s no need to log into every account you have and type in your routing number either.

                                          With personal finance software you can schedule automatic payments and transfers between all of your imported accounts. Automatic transfers will help to make sure you have the necessary funds in the right account to ensure all bills are paid on the appropriate date. Late fees are annoying and do nothing but cost you money. It’s time that you said goodbye to them once and for all.

                                          3. You Need to Streamline Your Budget

                                          Perhaps the best feature of personal finance software is that it allows you track everything going in and out of your virtual wallet.

                                          Nearly every brand of personal finance software out there has easy-to-read graphs and charts that allow you track every cent you spend or earn, should you choose. You might be pretty amazed when you see just how much you spent on eating out last month or if you splurged a little more than you should have on Christmas gifts last year.

                                          Every successful business on the planet has a budget and using personal finance software can help you trim the fat on your spending in ways that affect your everyday life.

                                          4. You Have Specific Goals to Meet

                                          Maybe it’s paying off debt or saving for up something like a European vacation. Whatever your financial goal is, whether it’s long-term or short-term, personal finance software programs are one of the savviest ways to go about reaching those goals.

                                          You can do everything from set spending alerts to notify you when you’re over budget to automating what percentage of your paycheck goes to things like retirement investments. The personal finance software that you choose should show you exactly how close you are to hitting those goals at any given time.

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                                          How to Get Started

                                          From AceMoney to Mint and Quicken, there ’s no shortage of personal finance software apps out there. Many of these programs are free to download and will allow you to pay bills, invest, monitor your net worth and credit profile, and even get a loan with the swipe of a finger.

                                          Other programs may only offer you limited services and will require a one-time fee or subscription to unlock all that they offer. These fees can often vary from as little as two dollars to 50 bucks a month.

                                          It’s best to start off with the free version and then gauge whether you’re able to accomplish everything you’d like or if it’s worth exploring one of the paid options. Often times the subscription programs come with assistance from financial planning and investment experts — so that can be a real benefit.

                                          When deciding which personal finance software program to use, it’s also important to look at how many accounts you wish to monitor. Certain programs limit the number of accounts you can add. Be sure that if you have checking, credit card, and investment accounts to monitor, that you choose a service that can monitor them all.

                                          Finally, when looking around for the right personal finance software that meets your needs, make sure that you’re comfortable with the program’s interface. It shouldn’t be expected that you recognize every single feature instantly, but if the features don’t seem readable and manageable to you, then you’re not as likely to use it and get the full benefits.

                                          Final Thoughts

                                          Personal finance software can go a long way in helping you to take control of your money and meeting your financial goals. It’s important to note, however, that some focus more on budgeting and expense tracking while others prioritize investing portfolios and income taxes. Explore several different programs and read reviews to find the one that’s right for you.

                                          In this day and age, managing one’s personal finances in a secure manner that allows the user to have a real-time visual representation of their money is easier than ever before. With the numerous applications that are out there — both free and subscription-based — there’s no reason that every person can’t take control of their money and ensure they’re making smart money moves.

                                          Featured photo credit: rawpixel via unsplash.com

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