With so much information now available online, you might not have thought about the possibility of reading a book to improve your financial habits. Yet, this remains an excellent way of finding out new strategies and discovering tips that could help you deal with your money more effectively. So, what are some of the books to look at?
The Automatic Millionaire by David Bach
First published back in 2005, The Automatic Millionaire is based on the idea that you can automate all of your savings and investments to make them work harder for you. This book has sold more than 1.5 million copies and is a New York Times bestseller.
David Bach leads us through the story of an average couple who manage to retire young with $1 million in savings thanks to the fact that they have in place a plan to pay themselves first. He says that no budget is needed and you don’t need to make huge sums of money to use this approach in your own life.
Rich Dad Poor Dad by Robert T. Kiyosaki
This book from 1997 explains how important it is for us to be financially literate and independent. It talks about how to invest to build wealth and improve financial intelligence. It’s written on the basis of his own father and a friend’s father, one of whom was financially secure while the other wasn’t despite working hard all his life.
Written as a series of parables, explaining how to handle our money and invest it, above all he tells us how to manage risks and how to use our money to build up assets instead of liabilities. Some reviewers have stated that Rich Dad Poor Dad has changed the way they think about money, as it sets out to tell us things about money that don’t get taught in school or anywhere else.
The Intelligent Investor by Benjamin Graham
This book was first published way back in 1949 and has become one of the best-selling books on investing, with legendary stock market investor Warren Buffett saying that he partially based his own strategies on it. The book is based on value investing, which is about understanding the true value of any stock, and it’s stood the test of time since its release to still make sense today.
This timeless advice can be combined with modern technology by investing online. For example, the INFINOX site explains more modern technical aspects of trading. By combining the classic knowledge in this book with instruments such as contracts for differences (CFDs), it’s possible to trade stocks as well as other markets.
All of the books that we’ve looked at here give you sensible advice that helps you to take control of your financial life using tried and tested methods. If you’re looking to become more financially knowledgeable, they all offer a solid way of starting to do this that has helped millions of people before you.
