There are tons and tons of books regarding personal finance. I had listed the best personal finance books for beginners in 2023 so that one can get started with them.
Contents
- 1 Rich Dad Poor Dad
- 2 Secrets of the millionaire mind book
- 3 The Parable Of The Pipeline
- 4 The Psychology Of Money
- 5 The Richest Man In Babylon
- 6 The Millionaire Fastlane
- 7 Think And Grow Rich
- 8 Why Didn’t They Teach Me This In School
- 9 Rich Dad Cashflow Quadrant
- 10 Money Master The Game
- 11 The Millionaire Next Door
Rich Dad Poor Dad
Author Name: Robert Kiyosaki
Total Pages: 220
For Whom
Everyone should read this book at least once in their life. It is the best Personal Finance book I had ever read. If you don’t know anything about money and finances this book will guide you through everything.
Summary
In this book, the author Robert Kiyosaki tells the story about his real dad, and the another was his friend’s dad. His dad was well educated but despite that, he was struggling financially hard his friend’s dad was not graduated but still he had good hands on the money. So basically he calls his dad a poor dad and his friend dad as a rich dad.
There are lots of principal regarding money but the best part of that was rich people don’t work for money and poor people work for money. Rich people always try to learn something new so that they can generate an extra amount of money and they know how money works for them and vice versa poor people work for money because they don’t know how the money works.
Quick Lessons
Know the difference between asset and liability. Something which puts money into your pocket is known as an asset and something which takes out money from your pocket is known as a liability.
Secrets of the millionaire mind book
Author Name: T. Harv Eker
Total Pages: 210
For Whom
One who has wrong beliefs about money can read this book and if you want to know how the millionaire mindset is all about money you can go with this.
Summary
In this book, the author dedicates this book to becoming rich if you are going to read this book only you will get to know how the millionaire mindset works. Lots of exercises are given so that while reading you can do that simultaneously.
The author says to associate with rich people around you. The best part of that was that praise other successful people, if you don’t like successful people or if you hate successful people you can’t become successful because if you hate something how can you become that? Let’s say if you hate money you can’t have money in your bank too if you hate someone you can’t have that person in front of you.
Quick Lessons
Admire and respect other successful people.
The Parable Of The Pipeline
Author Name: Burke Hedges
Total Pages: 125
For Whom
Are you struggling with your income source or you are afraid of your paycheck this book will help you to generate passive income and the importance of passive income and why it is important to have.
Summary
Two guys were looking for a job and suddenly one day both of them got a job the job was use to take a bucket of water and give it to people and both were doing it happily and they were getting a good amount of money but one of them thought that for how many days I will continuously keep on doing this same thing as the day passes I am becoming older and older and once I become older I can’t do that with the same intensity same hard work and so that my income will go down.
For this he started to make a pipeline he was trying and other friends and other people were laughing but after days and months passed he build the pipeline. Now he won’t have to work for it he built a pipeline once and he is getting revenue and he will get revenue in the future too. Now without doing anything he just planned properly and systematically and worked on it so that the money will work for him.
Quick Lessons
The extra advantage of having an extra source of income especially if you have a passive income which will give you a peaceful mind so that you can relax and do your remaining other jobs you can spend your life living happily without getting the stress of your current job.
The Psychology Of Money
Author Name: Morgan Housel
Total Pages: 252
For Whom
If you don’t know how the psychology of money works you can go through this.
Summary
Being rich is not equal to being wealthy. Wow 😯 what a line right? The author has beautifully explained this. If you don’t know the difference between wealthy hold on.
Being rich can be a temporary part but being wealthy is almost for a longer time. I had explain the difference in a much simple manner hope you got it. The author says don’t understand money try to understand the psychology of money. Treat money like a person not like a commodity.
Quick Lessons
Staying wealthy is more important than being wealthy.
The Richest Man In Babylon
Author Name: George Samuel Clason
Total Pages: 152
For Whom
If you to know an ancient way of becoming rich.
Summary
The best part of this book was you must save at least 10% of your income it can be whatever but you still have to save at least 10% of your income and start growing that saved amount.
Some people do the mistake that as soon the saved amount is a little bit growing they use that too. Wrong let the plant grow into a tree so that it can give you fruits I hope I made it clear with this example you have to save that much so that you can get a return on that particular saving before you use that money.
Quick Lessons
Protecting money is very important and at least you save 10% of your income.
The Millionaire Fastlane
Author Name: M. J. DeMarco
Total Pages: 338
For Whom
Are you looking to become financially free quickly not overnight but you can save lots of years by reading and applying this formula?
Summary
In this book, the author beautifully explains and categorized three types of people number one side walker number two slow lane number three Fast lane. Mostly many people don’t have any control over their emotions on the money they want to instantly get money and spend quickly expenses they live on that particular present movement they don’t have any idea about their future or anything they just want to spend anyhow.
Slow lane some people are so worried about the future that they do lots of saving in terms of future planning and because of that they are so slow they achieve or might they can’t but they achieve a little bit of financial freedom at the age of 60 or 70.
The Fastlane is the best that one should follow to become wealthy or a Millionaire billionaire if you want to understand this fast lane here is some sort of example such as Bill gates, Elon Musk, etc these people are adding value to other people and because of this, they become so wealthy. If you want to become Millionaire choose the third one the Fastlane path.
Quick Lessons
The owner of the Idea is not who imagines it but who executes that idea mind-blowing 😱 right yeah it is.
Think And Grow Rich
Author Name: Napoleon Hill
Total Pages: 320
For Whom
One who thinks of negative continuously day and night all over time that money is this and that rich people are like that those guys seriously have to read this book you will get to know how your thinking can change the world for you trust me or not you have to have this.
Summary
The author has beautifully explained desire in this book no although there are a lot of topics that are covered in this book, I will talk about desire because we are all somewhere in the corner of our minds or our bodies have some desires for a particular or it can be anything.
But how to convert the desire into a burning desire might sound similar but trust me that a desire and burning desire create a huge huge impact and difference because that burning desire can decide whether you are going to achieve that or not if you can’t do that then your desire becomes just wish what if you are burning desire that will give you to put you more efforts so that you will achieve your respective goals.
Quick Lessons
Strong belief is the foundation of everything If you strongly believe and if you constantly think actually becomes like that and it is scientifically proven also.
Why Didn’t They Teach Me This In School
Author Name: Cary Siegel
Total Pages: 188
For Whom
If you think that you had done a very fantastic job or a very good job by going to school trust me guys after reading this book you will seriously tell this why didn’t they teach me this in school you will say I know it.
Summary
Marrying the right financial person 😌 trust me this can save lots of quarrels among the couple. 99% of the problems are related to money and if your partner is smart enough to understand you whether it is in a bad or good financial situation you will find yourself lucky. The alternative is that you try to make your partner understand about finances so that you all don’t get frightened yourself regarding money so try to be financially literate a little bit. 😜
Quick Lessons
Living below your means
Rich Dad Cashflow Quadrant
Author Name: Robert Kiyosaki
Total Pages: 360
For Whom
Everyone should read this book because it has mentioned there are four categories of people only whether it can be anyone who belongs to these four-category or quadrants only
Summary
The author has beautifully explained the four quadrants such as e s b i which stands for employed self-employed business and investor. So if you don’t know how you can change your quadrant this book will tell you how one can change their quadrant also what things are there and why people are stuck to that particular quadrant if they wanted to get out of that quadrant but they can’t this book will guide them so that they can get out of that.
Quick Lessons
As you go from employee to self-employed, self-employed to business, and business to investor the rate of tax goes on decreasing and the best part of was that professional investors won’t pay tax which is almost 0.
Money Master The Game
Author Name: Tony Robbins
Total Pages: 688
For Whom
If you don’t know what is money how money is all about the game of money, as the name Money master the game trust me this book is like that once you understand the whole concept you will master the game of money
Summary
In this book, the author shared wonderful points of investment. Invest like the top 0.01% of people are investing. Most of the middle class take risks 4 to 8% whereas rich people take minimal risks and they get the maximum reward just because they first get into the depth day research they do continuously and consistently learn about the thing and after that they do investment
Most people just by hearing what somebody else is doing blindly follow their rule and stop doing that is what the author is saying and I am saying that stop doing blindly investment it’s better to don’t do it if you want to do like that gambling.
Quick Lessons
Income is the outcome
The Millionaire Next Door
Author Name: Thomas J. Stanley
Total Pages: 272
For Whom
You want to know how millionaire spend their money how they spend their bills and how do they do investment and all this book is all about that
Summary
The best part of this book was I learn that financial freedom is far more important than showing others your luxury items such as fancy dresses costly cars your accessories to prove that you are becoming rich to society it’s wrong the purpose is to become rich not to see rich are you getting that point. So financial freedom is far more important than those so-called fake social status.
Quick Lessons
They allocate their time energy money to building wealth.
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