Reading books on financial education is one way to gain knowledge on financial management, planning and investments. Books will give you information you don’t know and will change your mindset about money. Although not all information in the books are correct, you need still to pick those you think are applicable and practical. The best way to learn in what you read is to apply it.
Actually, there are many books dedicated on financial planning, management, saving and investing. You can even download ebooks that focuses on financial education in the Internet. The list below are some of my recommended books I read that I think will be helpful for your financial planning and education.
1. Rich Dad, Poor Dad by Robert Kiyosaki and Sharon Lechter
Rich Dad, Poor Dad is the second book I read about financial education. The book authored by Robert Kiyosaki and Sharon Lechter focused on the knowledge gained by the author from his two different fathers. The topics discussed in this book focused on financial independence through investing, real estate, owning businesses, and the use of finance protection tactics.
2. The Millionaire Next Door by Thomas Stanley and William D. Danko
The book The Millionaire Next Door: The Surprising Secrets of America’s Wealthy is authored by Thomas J. Stanley and William D. Danko.
This book is a compilation of research done by the two authors on what it really likes to live a like millionaire. In the book they used the term ‘millionaire’ to denote U.S. households with net-worths exceeding one million dollars in USD.
The authors compare the behaviour of those they call UAWs (Under Accumulators of Wealth) and those who are PAWs (Prodigious Accumulator of Wealth).
3. The Richest Man in Babylon By George Classon
The Richest Man in Babylon is a book by George S. Classon which gives financial advice through a collection of stories set in ancient Babylon. Through their experiences in business and managing household finance, the characters in the parables learn simple lessons in financial wisdom. The main topics on the book focuses on the Seven Cures for a Lean Purse:
- The First Cure: Start thy purse to fattening
- The Second Cure: Control thy expenditures
- The Third Cure: Make thy Gold Multiply
- The Fourth Cure: Guard thy treasure from loss
- The Fifth Cure: Make of thy dwelling a Profitable Investment
- The Sixth Cure: Insure a Future Income
- The Seventh Cure: Increase thy Ability to Earn
4. Pera Mo, Palaguin Mo by Francisco Colayco
Filipino best selling author Francisco Colayco wrote Pera Mo, Palaguin Mo which gives financial advices and investment strategies on easy-to-understand terms and definitions. The book emphasizes investing in mutual funds on a regular basis.
5. The Secrets of Self-Made Millionaire by Adam Khoo
The Secrets of Self-Made Millionaire by Adam Khoo gives and explains many terms about finances, stocks, mutual funds and investments. The book gives us an idea how a millionaire thinks and acts. Adam Khoo also discusses how you can have multiple streams of income like money making online, affiliate marketing, stock trading, investing in mutual funds and establishing your own business.