Managing finances is one of the most critical skills that all individuals should aim to possess, especially once they start working and earning a paycheck. Eventually, you’re going to have money that you need to decide how to spend. If you’ve never received any kind of education on how to best manage money and ensure your expenses are covered, it’s important to learn as soon as possible to avoid colossal debt. Here are some of the best books on finances you can read and learn what to do with your hard-earned cash.
Rich Dad Poor Dad by Robert Kiyosaki
Probably one of the best-selling finance books in the industry, Rich Dad Poor Dad, compares two families: one that has less money and family that would be considered middle-class. The book highlights that individuals should not only learn how to plan their finances but should go further and instill financial knowledge in their children. This teaching helps guarantee that children have financial knowledge when they grow up and can avoid mistakes their parents may have made.
Liar’s Poker by Michael Lewis
This book is a critical finance book that offers insights to individuals who want to learn more about the bond market. A bond is a financial instrument that is used by the government to control inflation and interest rates in the country. Any person who is interested in matters concerning inflation and interest rates on loans should go ahead and buy this book. The book goes further to explain the causes of the market crash several years ago, which was facilitated by the housing market.
Freakonomics by Steven D. Levitt
This book is a finance book that addresses the common aspects that individuals experience on a daily basis concerning money management. The book does not focus on solving a particular market but helps educate an everyday person in making sound financial decisions with the aim of getting the best value while at the same time minimizing expenses. This book goes further to help homeowners and real-estate agents on how they can get the best deal possible when searching for property.
The Richest Man in Babylon by George S. Clason
This book is a personal finance book that offers insight to individuals on how to deal with different financial situations on a daily basis so that they can make accurate decisions. The personal finance book is handy for borrowers and creditors as well. According to this book, managing finances professionally is an essential factor as it helps individuals to retain their wealth and can prevent you from making costly mistakes.