If you are just starting on your journey toward getting your personal finances in order, you want to read these two books. Each one contains a unique approach. One is not above the other. You will simply need to decide which path you will follow.
If you are in debt, this is your starting point:
The Total Money Makeover: A Proven Plan For Financial Fitness by Dave Ramsey
Without a doubt, this is the book to start with. And if you read no other book; read this one. This is a New York Times bestseller with over 5 million copies sold! In my opinion, it is the best book of finance for beginners you will find anywhere. After you read it, you will know why.
(If you already in control of your finances, budget, and spending; skip to the second recommendation.)
Dave Ramsey walks you through the fundamentals of what money is and how you can have complete control over your finances. It is simple, straightforward, and life changing.
But Dave does not hold anything back. I guarantee you will receive one or two knock out punches in this book. But that is how you learn to fight! And when you recover, you will come back stronger and be ready to, in turn, provide a knock out punch to your debt.
You will be walked through the “Baby Steps” of how to live without worry… ON ANY BUDGET! It certainly sounds simple but you will need to change your attitude about money and be willing to put your budget first and your wants second.
You will also learn about the 10 most dangerous money myths, marriage conflicts, savings, retirement, student loan debt… and the list goes on and on.
This book is for all the following types of individuals or couples;
- Those in debt (that’s just about everyone)
- Those struggling to make ends meet
- Those who have been bankrupt or are going through it now
- Those needing guidance on how to save and how much to save
- Those who have been investing for years
- Those who are millionaires
- and Those who want to be millionaires
This is the best overall:
Rich Dad Poor Dad by Robert Kiyosaki
Welcome to the best-selling book on finances ever published. The Rich Dad series has sold over 35 million copies. This should be the first book for you if you already practice good money management skills.
However, if you don’t have, or at least practice those skills, this is definitely book number 2 for you. You first need to get a grip on your finances. If you don’t have the discipline and self-control to properly manage your own personal finances, then don’t bother purchasing this book. It is not for you and you could be in serious financial trouble if you try to apply the principles contained in its pages.
The book approaches money from two completely different perspectives; one from the Rich Dad point of view and the other from Poor Dad. You will become enthralled in the story of how a young man on the island of Hawaii learns what the wealthy know about money. You will follow his story; not only the ups, but the downs as well.
Your own personal view of money may change when you discover your home to be a liability, rather than an asset. You will also learn about good debt vs. bad debt as well as learning how to become wealthy; in more ways than one.
This book will take you on a journey which will forever change your mind and your heart about how you view money and investing. At least it has to millions of people so far. The question is; how will it change you?