I have compiled a list of the top 10 financial education books that will change your life. Each book has its secrets. They are discovered by reading them. I have compiled a list of 10 books that I have read and consider to be “a treasure”. I want to offer this “treasure”, as I want to pass on everything I have learned and become aware of, over time, regarding money: its management and investment.
Here are the top 10 financial education books that will change your life.
The first financial education book for many of us
The book “Rich Dad, Poor Dad” written by Robert Kiyosaki lays a cornerstone for becoming aware of how you manage your money. It is useless to have an academic education if you do not also have money education: how to manage it, and invest it in such a way as to ensure a good life.
For me, the biggest impact was the emphasis on financial and emotional intelligence quotient, less so than on academic intelligence. It is necessary to have school, but unfortunately, school does not teach you what to do with money after you have earned it.
The “smart” book
The book “Smart kid, rich kid” by Robert Kiyosaki offers the dichotomous perspective of two worlds: the financial world and the academic world. The parallel is drawn between what is taught in school and in society and what financial life looks like, day by day, with regard to money. You may have heard the expression that: “society says”, “parents say” to have a family, to settle down in your own house, to have a well-paid job. All of this means, most of the time: learning to become an employee, getting a mortgage, working to support your family and waiting for retirement to relax, at which point you realize that you don’t have the money to live a decent life “after all that work”.
Life story book
”The Richest Man in Babylon” by George S. Clason– helps to raise awareness of the importance of saving and the power of this habit to gain independence – financial freedom.
You will find, within the book, stories that help you realize that no matter how much you earn, you can gain financial freedom. The book presents the life of a slave. Just as the slave had the right to buy his freedom if he paid his master a sum, so you can buy your financial freedom if you save. The slave, working for the master, earned money, and one yellow cent out of the 10 earned was put aside to reach the amount necessary to buy his freedom.
Although the stories take place in the distant past, you can’t help but notice the timeliness of the information and the way people act. See the psychology of their decisions. What struck me the most was the scene where they talk about the fact that people were pledging their own lives when they borrowed money and although they saw what they endured and how those who could not pay ended up (they worked on the construction of the Wall of Babylon, and those who no longer had strength, exhausted, found their end there), they still said that “it can’t happen to them”.
The book that makes you think about investments
“The path to financial independence” by Bodo Schafer – explains the importance of investing money and the power of the compound interest effect. The eighth wonder of the world, as Albert Einstein called it, enriched those who put their money to work for them. Very important and what I liked the most about this book: the psychological side, of course, was the fact that it specifies the need to wait, to be patient in order to achieve what we want. The short story of the hen with the golden eggs denotes greed and lack of human perseverance resulting in her killing for not laying more eggs. The hypostasis of no longer generating one egg per day was preferred, because one egg per day is far too little.
The book that makes you aware of time and money
”Psychology of success” by Alison Price and David Price
As the subtitle specifies: ”Your A-Z map to achieving your goals and enjoying the journey” the book is about creating a plan to achieve realistic goals in your life. You will find awareness strategies, techniques that you can put into practice to define goals and achieve them taking into account obstacles and plan their passage so that you reach success, respectively at the time of achieving the proposed plan.
The book of self-leadership through understanding crises
”Leaders eat last” by Simon Sinek follows the change in vision, goals that, over time, generations have had and the impact created by the evolution of society, but also by the events that have taken place. You will see how the greatest financial crisis of 1929 impacted the life of society and the individual, as well as the repercussions for the generation during the crisis and after the crisis, but also how the masses and individuals acted in managing the Second World War, how money was managed and invested.
If now you are afraid of “what will happen because everything is uncertain” and “let’s wait and see what will happen”, reading this book you will discover that after the greatest crisis of 1929, during the Second World War people invested their money. By investing their money, they helped finance the war and create a united society. Those who had money, invested in bonds, and those who lived in rural areas without much financial resources, began to plant vegetables and fruits to reduce food rationing. What followed is even more interesting. Children born after the economic crisis and the war grew up in a relaxed environment. Parents gave them everything, because they wanted to “protect” their children from the shortcomings of the situation they had gone through. However, they became individualists and considered that “it is their right”, that “it is normal to have everything”.
The crisis started after a period of massive consumerism. The war period united society, and after the war ended, the birth rate increased with the “celebration” of victory.
The conclusion is that: “Each new generation personifies a set of values and beliefs shaped by the events, experiences and technology available during their youth…which tend to be different from those of their parents.”
The book that strikes you with its simplicity and reasoning
“How did this idiot get rich and I didn’t?” written by Robert Shemin – explains the rules of money that have nothing to do with the level of education we have: FQ – financial intelligence quotient is more important than IQ – academic intelligence quotient. Another book that explains how to approach earning and investing money. The emphasis is on how money is earned and invested rather than on grades taken in school, practice instead of theory, living life day by day, rather than living life “by the book”.
The book that guides you in investing
“Investment Guide” by Robert Kiyosaki is the book in which the author presents how investments are made: the principles by which investments work and how we must apply them in creating our own investment portfolio. This aspect is the most important and if you follow the guide, your financial life is fulfilled.
The book about myths and reality
“Money: Master the Game” by Tony Robbins is a book that shows the correlation between theory and practice. How do you put theory into practice to achieve your financial goals, how do you search for the financial service in the market according to your financial situation.
The book discusses false and true information about the financial market and what you need to pay attention to in order to be able to master your money and achieve your personal goals. But you will find, as in almost all foreign books, some financial products, methods that are more related to the fiscal sphere, which do not apply to us and it is necessary to find the appropriate correspondent. Also, this book mentions the fiduciary financial consultant who is with you in achieving your financial goals with advice and recommendations, not with the aim of selling the products of a particular company; the company they work for. I am glad to be among the few fiduciary consultants in our country.
The book about financial solutions. What financial products exist and what to use them for
“The key to financial success is with you” by Brian Tracy helps you to inform yourself about what financial products exist and how to use them to achieve your financial goals. You will find the features of the products, how they can be used, the strategies and the purpose for which they were created to use them properly and bring maximum profit to your financial life.
Bonus: a book for parents. It is the only book, that I have found, addressed to parents who want to teach their children financial education. Children with financial education can be financially fulfilled, because they have learned from a young age how to achieve their financial goals when they are adults and how to get maximum profit from their financial actions and decisions.
The Financial Parenting Book: Teach Parents to Teach Their Children About Money.
In addition to the 10 financial education books that will change your life, I offer you a BONUS
“Smart Money, Smart Kids” by Dave Ramsey is a book addressed to parents to raise awareness of the importance of children’s financial education and highlights the importance of family discussions regarding money management, planning financial goals, also touching on the subject of emotional and psychological implications (beliefs, prejudices) that parents can unconsciously transmit to children through examples, personal behavior, expressions used in relation to money and even through their relationship with money.
The 10 financial education books that will change your life, I hope, will help you too, to develop financially.
For your child’s financial education, you now have these books from me. https://www.psihologiabanilor.ro/magazin-2/ I wish there were as many Romanian authors as possible to increase the level of education in Romania.
Good luck in becoming aware of money and the power of financial education in your life!
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