Bookworms make bank.
Don’t believe us? Just look at the facts.
It’s no coincidence that some of the world’s richest people are also dedicated, readers.
Warren Buffet, the iconic business tycoon and investor, is one of the most committed readers around. Buffet says that he spends up to 80% of his day reading. According to him, spending more time reading and thinking means he’s less likely to make dumb, impulse decisions.
Buffet isn’t the only one who believes in the value of the written word. Everyone from Elon Musk to Bill Gates and Mark Cuban recommends reading as a method of generating success.
Of course, the kinds of books you read will make a difference. This article at Satyiki, is about 10 best financial development books, every one must read.
Thankfully, there are a lot of good books to help us become financially smart. At Satyiki We help you Grow Rich but for that Financial knowledge is must and we think the best finance books come down to three things:
- Practical advice. Money is a tangible thing, so whatever tips authors give should be easy to implement for you right away.
- Relevant information. Depending on your situation and goals, you might need a beginner’s book or a more advanced one.
- Inspiring stories. If a book is boring, it won’t motivate you to take action. The easiest way to change is to listen to a good story.
Based on these three criteria, we’ve selected the Top 14 best seller financial books for you to read. If you want to become savvy with your finances, be smarter in how you spend and save, and learn to invest your money to build freedom, consider these books.
Our list includes a short summary, three key lessons, and few arguments for why you may want to read each book in question.
Best Finance Books Every One must Read
1. Rich Dad Poor Dad by Robert T. Kiyosaki
The Book in One Sentence
Rich Dad Poor Dad tells the story of a boy with two fathers, one rich, one poor, to help you develop the mindset and financial knowledge you need to build a life of wealth and freedom.
Why should you read it?
This book is controversial, but in getting you to actually do something, it just works. It’s based partially on Kiyosaki’s life, who learned two different ways of handling money from his dad and that of his best friend. The lessons are a mix of how to approach money as a concept, basic knowledge of accounting, budgeting, and investing, and how to manage your money so it works for you. By the time you’re done with the story, you’ll enjoy implementing the tips.
Key Takeaways
- Use your money to acquire assets, not liabilities.
- Manage risks instead of avoiding them.
- Work to learn, not to earn.
2. Money: Master the Game by Tony Robbins
The Book in One Sentence
Money: Master The Game lays out seven simple steps to financial freedom, based on the advice of the world’s best billionaire investors, interviewed by Tony Robbins.
Why should you read it?
Tony Robbins dedicated ten years of research to this book. After the financial crisis of 2008, he decided to help average people secure a good future. After interviewing several billionaire financial legends, such as Ray Dalio, Warren Buffett, Jack Bogle, he put together their best strategies. The book contains everything from mindset changes to saving tips to asset allocation. The transcripts of the interviews are worth the price of the book alone.
Key Takeaways
- Never underestimate the exponential power of compounding interest.
- Pick one of three financial goals to show yourself that financial freedom is within reach: basic expenses, basic + fun, or financial independence.
- Diversify your investments by using a 3-bucket system: A security bucket, a growth bucket, and a dream bucket.
Best Finance Books Loved by Beginners
3. The Barefoot Investor by Scott Pape
The Book in One Sentence
The Barefoot Investor is an Australian farm boy’s no-BS guide to taking charge of your personal finances with a simple system to eliminate debt, live in the now, and still retire in peace.
Why should you read it?
Scott Pape is Australia’s most trusted personal finance expert. His book has sold over 1,000,000 copies. Despite growing up on a farm, Pape wanted to get rich by trading stocks. That didn’t work out. He went back to his farm and now uses the simple life as a metaphor for managing your money. The book helps you take control in three phases: plant, grow, then harvest your money. He balances easy tips with radical advice. A great book for beginners.
Key Takeaways
- Simplify your money management by using different bank accounts.
- Shred your credit cards first, then start paying off your debt.
- Automate some of your retirement planning with index funds.
4. The One-Page Financial Plan by Carl Richards
The Book in One Sentence
The One-Page Financial Plan makes financial planning stop feeling like a burden for the less disciplined by helping you plan your entire financial future on a single page.
Why should you read it?
Carl Richards has spent more than 40,000 hours over the last 20 years as a financial advisor, working at Wells Fargo, Merrill Lynch and others. Some of his sketches he shares on Instagram went viral. They illustrate the ideas that helped him and his wife plan their finances on just one piece of paper. His book shows you how to do the same.
Key Takeaways
- Set some goals but stay flexible and fine-tune along the way.
- Turn budgeting into a game to make saving fun.
- View paying off debt as an investment in your future.
If you want to learn more, you can read our free four-minute summary or get a copy for yourself.
Best Finance Books For Investors
5. The Intelligent Investor by Benjamin Graham
The Book in One Sentence
The Intelligent Investor explains value investing, which is focused on generating steady, long-term profits by ignoring the current market and picking companies with high intrinsic value.
Why should you read it?
Warren Buffett says this is the single greatest book on investing ever written. It’s based on Benjamin Graham’s classes, which Warren Buffett took as a young student. Value investors find companies with great fundamentals and buy their shares at a discounted price. After that, all they have to do is wait. Eventually, their real value will unlock. A true, timeless classic.
Key Takeaways
- There are 3 principles to intelligent investing: analyze for the long term, protect yourself from losses, and don’t go for crazy profits.
- Never trust Mr. Market, he can be very irrational in the short and medium term.
- Stick to a strict formula by which you make all your investments, and you’ll do fine.
6. The Little Book That Beats the Market by Joel Greenblatt
The Book in One Sentence
The Little Book That (Still) Beats The Market is a step-by-step tutorial to implement a simple, mathematical formula when buying stocks which guarantees long-term profits.
Why should you read it?
Joel Greenblatt is an investing legend. His investment company Gotham Funds had an annual return of over 40% for 20 years, from 1986 to 2006. With his simple formula, Joel has managed to turn Benjamin Graham’s value investing approach into a system that only needs to be updated once a year. In 2005, he wrote it down to pass it on to his children. If you’re looking for a specific, low-hassle investment approach, this is your best bet.
Key Takeaways
- Look at earnings yield and return on capital to evaluate stocks.
- Rank and combine these two factors to find winning companies.
- Be patient, it’s what makes this formula unpopular, but effective.
Best Finance Books For Entrepreneurs
7. The Millionaire Fastlane by MJ DeMarco
The Book in One Sentence
The Millionaire Fastlane points out what’s wrong with the old “get a degree, get a job, work hard, retire rich” model, defines wealth in a new way, and shows you the path to retiring young.
Why should you read it?
This book must have the world’s most misleading title. It’s not a get-rich-quick-scheme at all. Instead, it’s a story of persistence, boldness, risk-taking, and unconventional thinking. After seeing a man in a Lamborghini when he was a teenager, MJ DeMarco knew he wanted to be rich, but he didn’t want to slave away for 40 years to get there. After launching, selling, and re-buying his own company, he retired at age 33 as a multi-millionaire. An inspiring read!
Key Takeaways
- Wealth stands for 3 things — and money isn’t one of them: health, relationships, and freedom are what truly matters.
- At some point, you must make your income independent of your time.
- Think like a producer, not like a consumer.
8. Think and Grow Rich by Napoleon Hill
The Book in One Sentence
Think and Grow Rich is a curation of the 13 most common habits of wealthy and successful people, distilled from studying over 500 individuals over the course of 20 years.
Why should you read it?
This might be the most popular book about success in the world. After steel magnate Andrew Carnegie himself put him on to the task, Napoleon Hill interviewed successful individuals for 20 years. The result, was published in 1937 and has sold 70 million copies. It’s a book about thinking, vision, and doing what it takes to succeed. If you’re a young entrepreneur, this is for you.
Key Takeaways
- Use autosuggestion to build an unshakeable belief in yourself.
- Be stubborn and always stick to your decisions.
- Join a Mastermind group to cut your learning curve.
Best Finance Books To Save Money
9. I will Teach You To Be Rich by Ramit Sethi
The Book in One Sentence
I Will Teach You To Be Rich helps you save money on autopilot while allowing yourself to spend guilt-free on the things you enjoy.
Why should you read it?
Ramit Sethi’s blog started in his dorm room in 2004. After selling an ebook for a few dollars and seeing the magic of earning online, he doubled down. 15 years later, GrowthLab makes millions in annual revenue with online courses. His New York Times bestseller will help you cut costs in every area of life, splurge on the things you enjoy, and automate your retirement planning. A down-to-earth perspective from someone who’s done it.
Key Takeaways
- You’re the only one responsible for your financial problems.
- Know how much money you have coming in and then automatically direct it where you want it to end up.
- Start investing today, even if it’s just $1.
10. The Total Money Makeover by Dave Ramsey
The Book in One Sentence
The Total Money Makeover shows you how to stop accepting debt as normal, eliminate it forever in small increments, and build the financial future you deserve in seven steps.
Why should you read it?
The Dave Ramsey Show is one of USA’s most popular radio shows ever. Ramsey helps people become debt-free, at which point they go on his show to talk about the experience. He also helps them with the emotional issues of tackling money and goes beyond mere mathematical tips. Ramsey encourages you to tackle your debts from small to large, then slowly start saving, and only invest after you’ve covered the basics. A rock-solid approach to finance.
Key Takeaways
- Before you do anything else, put away $1,000 in an emergency fund.
- Start paying down your debts, beginning with the smallest.
- Grow your emergency fund until you have at least a three-month buffer.
Conclusion
I’ve read over 100 books to date, many of them about money. In my opinion, these are the best finance books of all time to start mastering money in your life.
Whether you’re recovering from an unlucky turn of events, suffering from bad financial habits picked up in childhood, or just not good at math, after diving into these books, you’ll soon create more financial breathing room in your life.
Improve your financial knowledge, reduce your spending, start saving and investing, and you’ll be well on your way to financial independence.
When it comes to taking control of your finances, the most important part is to start today.
“An investment in knowledge pays the best interest.” – Benjamin Franklin
