I love to read and you won’t be surprised to discover that the type of books I'm mostly in to have got to do with financial matters. I try to read a book every two weeks and if I’m not reading, I’m listening to an audiobook on my travels.
First and foremost because I love the subject matter and secondly because I want to continue to educate myself about my financial life and those of others.
When you are looking at New Year's resolutions, I hope one of them is committing to reading or listening to one financial book in 2016 that will teach you something you didn’t know about money and financial matters.
To help you with this, I am going to share my nine personal favourite financial books.
Dave Ramsey – The Total Money Makeover
In this absolutely brilliant book, Ramsey debunks the many myths of money, exposes the dangers of overspending, not planning for retirement amongst many other things.
“Don’t even consider keeping up with the Joneses,” Ramsey says, because “they’re broke!”
He shows you fail safe ways of building your savings for emergency funds, for your children’s education, and for your retirement.
Sahar & Bobby Hashemi – Anyone Can Do It
This is a great book for anyone thinking of starting a new business in 2016. Sahar and Bobby Hashemi are brother and sister who built Coffee Republic, the UK’s first high street coffee chain. They opened their first store in 1995, and by 2001 they had opened a further 107. If you are thinking of starting the business of your dreams, then this is the book for you. It will help you tackle some of your fears, it will answer some of the elusive questions an entrepreneur is faced with when making the decision to go for their dream business.
Mark Victor Hansen – The One Minute Millionaire
The core of this book is a parable about Michelle, who is a widowed mother whose life is on the brink of ruin. And unless she can raise a million dollars quickly she will lose custody of her children.
Practical advice for achieving financial success is also given in parallel with the action Michelle takes in her story.
The story helps readers identify what their fears and doubts about money are and what I really liked about this book is how the advice and story work together and it really is an inspirational story about what can be done when your back is to the wall.
Paul Knott – Ouch
Knott says “ignorance is bliss, excepts when it hurts.” This book is all about what you don’t know about money and why it matters.
Knott says “it’s time to wake up or get wiped out” but OUCH is an entertaining answer to financial fear, ignorance, and confusion.
Quintessentially irreverent but with a deadly serious message, it ultimately tells us how to protect our hard earned cash and save ourselves from financial meltdown.
David Bach – Start Late Finish Rich
Many people in their thirties, forties, fifties and even sixties think they will never retire comfortably and ever have enough money.
Bach says not so – and that people still have the opportunity to put their life on the right track. He shows readers how to “catch up” on saving for the future with taking huge risks in the process. Even with an ordinary income, Bach shows how you can transform what you earn, how you save and how you invest.
John Lanchester – How to Speak Money
Money is our global language, but only a very small percentage of the population can speak it. The language of the economy and finance can be complex, jargon filled and completely baffling. Lanchester, in this book, explains everything from high frequency trading to the difference between bullshit and nonsense.
Jordan Goodman – Master Your Money Type
Goodman explores the relationship between money and emotions, and identifies seven money types. Using real-life examples, Gordon reconciles money information (what you need to know about managing it) with your money attitudes (what you need to know about your feelings and fears about it).
Carl Richards – The One-Page Financial Plan
In this book, Richards shows you how in a single page, you can prioritise what you really want in life and how you can get there.
Richards says people don’t have the time to make sense of all the information available currently available. They don’t just want good advice, they want the best advice—so rather than do the “wrong thing,” they do nothing.
What Richards tells them is that they need to scrap striving for perfection and instead commit to a process of guessing and making adjustments when things go off track.
Ramit Sethi – I Will Teach You to Be Rich
For the ambitious yet financially clueless. A practical approach delivered with a non-judgmental style that makes those who read it, do what Sethi says. It is based around the four pillars of personal finance- banking, saving, budgeting, and investing-and the wealth-building ideas of personal entrepreneurship.