There was a time, not long ago, when I was always on a spending spree. I remember juggling credit card statements, creating budgets, and yet still exceeding those budgets. I felt I was running against the tide, trying to manage my expenses.
It was when I applied for a car loan that I realized my low credit score. Banks weren’t willing to extend the loan. Though I got my loan application approved by a few of these banks on Crediful.com, I knew it was time for a change. A change of my mindset regarding money.
These 9 books changed my mindset about money. I’m sure they will help you rethink yours also:
Your Money or Your Life
This book by Vicki Robin and Joe Dominguez is been labeled as the best book on money, by Millenials around the world. In this book, you will find a nine-step formula that will make you revise your mindset about money.
The authors talk about how the money you earn actually is a part of your time. The book bases its theories on the concept, ‘Time is money’. Not in the normal sense of the phrase, but in a mind-altering way.
I will teach you to be rich
I will teach you to be rich by Ramit Sethi is a 6-week actionable program to manage our personal finances. The book reads very well and is meant for 20-35-year-olds who find themselves in a sticky position when it comes to financial matters.
The book has small chapters that deal with the four pillars of personal finance- banking, saving, budgeting and investing. At the end of each chapter, you will get a few exercises to finish. Each will help you clear your objectives and set you on the straight path.
If you plan on getting this book, I would suggest you clear your schedule to allow yourself to completely benefit from the teachings in this book. If you finish the entire book, I am pretty sure you would at least be able to manage your finances quite well.
Worth it by Amanda Steinberg is a book written by founder and CEO of Dailyworth.com. Even if you are not in a financial fix, I would still suggest this book to all my female readers. This book worked as an inspiration to me, talking about women empowerment and how we need to take control of our lives. It doesn’t only change your perception of money, but also about life and your future.
Rich Dad, Poor Dad
If you want to challenge your perception regarding money, then Rich Dad, Poor Dad by Robert Kiyosaki is a book that you should be buying right now. Kiyosaki was raised by two dads. His real dad was an ordinary middle-class dad. But he was best friends with the father of his second dad, the rich dad. Living with both, he learned some new perspectives about money.
The book talks about how the rich and the poor used their money. Rather than working for money, he started focusing on having the money do his job to get him rich. This book is considered one of the best books when it comes to dealing with money.
The Debt Escape Plan
The Debt Escape Plan is an inspiring book about the personal experience of the writer, Beverly Harzog. Like many other of her American counterparts, Harzog found herself in a debt maze of $20,000 that she couldn’t weave herself out. She felt lost for the most part of it. Until she took control of her debt and created her escape plan. Her escape plan was basically to cut down on her spending and live as frugally as possible. Don’t worry, it isn’t as extreme as you might be thinking.
In her book, Harzog offers readers their own escape plan for dealing with different kinds of debts. If you like doing quizzes, you’ll be in for a sweet treat. Her templates help you understand your personality and how to deal with your debt using your personality type.
Prince Charming Isn’t Coming
If there’s a title of a book that got me to buy the book, it’s this one. Don’t we all know that Prince Charming isn’t coming, and reading that on the title on the book made me think, ‘This lady gets me. Let’s hear her out’.
And I wasn’t disappointed. The inside of the book is just as catchy as the title. This isn’t one of the those that you need a Google to read with. The language of the book is easy to understand. You won’t find difficult finance words that might put you off.
I loved the way the author, Barbara Stanny empowers and uplifts women in this book. Even at this age, women are still avoiding dealing with money. We have this resistance towards dealing with money matters. No one is coming. We aren’t going to win the lottery and there’s no secret grandma leaving us tons of money. We have to do it ourselves.