It’s time for you to read these educational literature pieces and take control of your finances. Unless you win the lottery or receive handouts, you will stay broke forever without increasing your financial literacy. I have highlighted and underlined my copies of these books to reference my key takeaways repeatedly! I advise you to do the same, as each concept, story, and quote resonates differently for everyone. Happy reading!
1. Rich dad, poor dad by Robert T. Kiyosaki
As shown in the quote below, this book does an excellent job of differentiating assets from liabilities. We as a society are taught by bankers and companies who want our money to think that certain things are assets to us when they are not. There are things considered “assets” in today’s society that take money out of our pockets regularly. How is that an asset? This book’s assets vs. liabilities lesson is only a fragment of the wise concepts Robert has to offer within these pages. The book has loads of content encouraging us to change our mindset, be brave in our endeavours and dare to be above average when growing our wealth. Rich dad, poor dad is rated the #1 Finance Book, and you’ll surely see why!
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.”
2. Secrets of a Millionaire Mindset- T. Harv Eker
Harv extensively compares mindset differences between the rich and poor. He puts you in the shoes of both sides so you can see the mentality differences. He shares how he once sat down with a financial advisor at a hard time and began to discuss his situation. The advisor asked permission to see his banking information and statements. Harv said, “Shouldn’t it be the other way around?” When the advisor questioned what he meant, he explained that he shouldn’t be taking financial advice from someone whose financial status he knows nothing about. The advisor could not share any stories of personal financial success. Therefore, Harv did not continue to seek advice from him. He sought out advice from those who were already wealthy and successful. In time, he became rich himself. This story reminds me of the quote below from Kanye West, which makes me laugh but is also so true.
“I’m not going to argue with people who are broker than me about money.”
3. The Total Money Makeover by Dave Ramsey
This book offers practical tips, charts and personal stories from graduates of “Dave Ramsay’s Financial Peace University. He lays out multiple methods to achieve financial security. Dave is recognized for his “snowball method” for paying off debt. Essentially, you pay off debts from smallest to most considerable amounts, gaining momentum and confidence as you clear what you owe. He explains this further in depth in his book.
4. Think and Grow Rich by Napoleon Hill
This novel is more from a philosophical perspective. It includes stories of successful people in history and studies on how your thoughts can influence action and the outcome of your life. It too discusses the importance of mindset and setting high goals and expectations. This book challenges readers to take opportunities promptly, not wait.
“Both poverty and riches are the offspring of thought.” - Napoleon Hill.
5. How to Solve All Your Money Problems Forever by Victor Boc
The discussion in this book is centred around the overall flow of money in your life. It teaches how to increase your positive flow with the law of attraction. A key component discussed in this novel is the practice of affirmations. It gives clear steps and rules to guide you in creating your claims, such as using your name, measurable factors and positive vs. negative language. The second half of the book discusses minimizing your money and energy repulsion. One concept is glad-giving, which discusses what you must give to receive and maximize your money flow. This book is truly a staple and motivates you to think and act differently than you have before. Below is a quote I loved that is featured in this novel.
“Life is not a matter of holding good cards, but of playing a poor hand well."
Wrap up with summary/conclusion
There’s no better time to increase your financial literacy and wisdom now. Choose to learn and grow today, and your bank account will grow. I hope you find the featured photo associated with this post on my Instagram and discuss it in the comments!
