5 Money Management Books Every Person Needs To Read

by Admin on April 3, 2013

Money ManagementSave more, spend less, have x number of bank accounts, and only invest in y number of shares. These days, myriads of pieces of advice on money management are flung around, whether from one’s workmates, parents, or the bank teller. But who should you trust? What tips are really worth taking onboard when it comes to managing your personal finances?

There are countless books out there on money management. Here are five based on tested evidence and experience that you must read:

Most people only talk and dream of getting rich. You’ve done something.” 

Published in 2010, “Rich Dad, Poor Dad” by Robert Kiyosaki and Sharon Lechter has in no time become a classic in the world of personal money management. In this book, Kiyosaki and Lechter tell of Kiyosaki’s two “dads”, one rich and the other poor, as suggested by the title. The authors weave in Kiyosaki’s own journey of building and rebuilding his fortune, creating a compelling case for how you too can try to control your financial future.

“Whatever your income, always live below your means.” 

If you’re the kind of person itching for some empirical evidence, “The Millionaire Next Door” by Thomas Stanley and William Danko would suit you well. Published in 2010, “The Millionaire Next Door” is based on a study Stanley and Danko conducted on a pool of millionaires. The study looked at both similar attributes among them, such as living below their means, and similar practices, such as budgeting spending. A surefire guide to inspire you in your journey to becoming rich.

If the beat sounds normal, evacuate the dance floor immediately!”

American financial author, radio host, television personality, and motivational speaker Dave Ramsey writes from personal experience in his book “The Total Money Makeover: A Proven Plan for Financial Fitness”, published in 2007. By his mid-twenties, Ramsey had made a $4 million fortune, only to lose it to bankruptcy. Today he runs a personal finance empire and in this book, shares his no-nonsense tips on how to clear your debt and achieve better financial health.

“Get Your Relationship Ready for Financial Harmony”

Published in 2003, “Debt-Proof Your Marriage: How to Achieve Financial Harmony” by Mary Hunt draws on Hunt’s wide experience as founder and publisher of the money-saving newsletter Cheapskate Monthly. In this highly practical book, Hunt surveys many aspects of money managements for couples, from budgeting basics to how you can uphold values such as acceptance, freedom, safety, and honesty in your family’s financial dealings. A must-read for those who care for the financial health of their family!

“Teaching women how to stand on their own two feet, financially speaking.”

Men, don’t shy away too quickly. Published in 2007, “On My Own Two Feet: A Modern Girl’s Guide to Personal Finance” by Manisha Thakor and Sharon Kedar instructs young women on basic finance in today’s world. In other words, how to save and spend wisely in a culture where coffee dates and Marc Jacobs purses seem to be the norm. A fascinating read not only for women but also men who might find this helpful in more ways than one!

About The Author

Amanda Hooper is a university student and freelance writer who is interested in smart saving and spending. You might find her browsing commercial real estate for sale on her days off, dreaming about that perfect office space for the future.

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