How to learn to manage personal finances: 6 books that will make a professional out of you
Personal finance management is a fundamental aspect on the path to earning and financial independence. It is crucial to achieving stability and being prepared to manage savings, spending, investments, and budgeting once you start earning.
However, according to SSPDaily, it's not easy to understand these issues. And that's where these 6 books come in, offering effective guidance on how to overcome potential obstacles to managing personal savings."
"The Psychology of Money" by Morgan Housel
"The Psychology of Money" by Morgan Hausel is a book of 19 small chapters that explains to readers that personal finance is not something that is evaluated using mathematical formulas and laid out in spreadsheets.
It's actually about your behavior, your view of the world, your personal experience, and your financial history. "The Psychology of Money" offers unique information on how to build your wealth.
"Spend Well, Live Rich" by Michelle Singletary
In this book, Singletary reflects on the journey of her grandmother, who raised five children on a modest income. She mirrors the principles that this woman followed to ensure a quality life with what she had.
Whether you're new to budgeting or looking for inspiration, "Spend Well, Live Rich" will offer valuable insights and motivate you.
"Retire Before Mom and Dad" by Rob Berger
Most of us want to retire early but quickly dismiss the idea because of unforeseen financial problems that may arise in the future when we don't have current income.
However, Berger's book lays out the basics of how you can successfully plan for retirement and remain independent and financially stable even at this stage.
"The Simple Way to Wealth" by J. L. Collins
Managing personal finances is a complex science, but this book by Collins can definitely make it easier for you.
Her recommendations are suitable for investors and those who want to retire early. The book also offers practical advice on how you can earn more, avoid debt, minimize your expenses, enter the world of the stock market, and learn how to save.
"The Automatic Millionaire" by David Bach
In his book, David Bach explains how to create more channels that bring in wealth. It also explains how to protect your retirement, understand personal finances, and manage and reduce debts.
In addition, you will get some tips on financial automation, why it is better to avoid buying things on credit or rent, and how to invest in yourself.
"Secrets of the Millionaire Mind" by T. Harv Eker
Secrets of the Millionaire Mind explains that personal finance is not determined by birth, and how to change your habits and thoughts to manage your savings properly.
