Want to improve your financial literacy? Consider these must-read books

Books hold information gathered from numerous decades ago, which you can find out in just a few hours (if you are an avid reader). Money surrounds us in each part of our lives, so understanding finances is always a good idea. And what can offer you so much information in a cheap, easy and impactful way than a great book? Financial literacy is imperative in today’s age, where people struggle with inflation and other problems. However, if you have a good understanding of your finances, you can better navigate the situations that are not in your favour. A person with sound personal finance knowledge will be able to manage their finances better, whether we are talking about insurance, investment, expenses or savings. Additionally, with the help of good personal finance management, people will be able to meet both their short and long-term investment goals.

Financial literacy is the first step into creating the future you have long desired. Here are some must-read books that will help you in this process.

The Richest Man in Babylon

Author: George S. Clason

The Richest Man in Babylon was published in 1926, written by George S. Clason. However, his advice is also good to be followed in today’s age. Clason uses an interesting way to explain the basics of money with the help of parables set in Babylon. The book offers valuable insights into personal wealth accumulation, financial planning and the advantages of thrifting. Additionally, the author explores the simple rules of money, including improving the ability to earn and controlling expenditures. With all the advice given in the book, people could finally be able to accomplish their financial dreams. The Richest Man in Babylon has over 1 million copies sold, so you can see that his message is still valid, even if almost 100 years have passed.

This book is also a great gift choice. So, if you have a friend who doesn’t really know how to budget their finances, why not offer them this book? Just pack it nicely, add a beautiful and colourful ribbon, and you have a great present for someone who might need to improve their financial literacy.

Rich Dad Poor Dad

Author: Robert T. Kiyosaki

This book is an all-time classic, written by Robert T. Kiyosaki and published in 1997. In this masterpiece, the author describes the way how two dads, his biological one and the other the dad of his best friend, had an impact on his view on money. The two people have a quite distinctive perspective. One believes that in order to succeed in life, you need to work hard and have a good job, while the other thinks that creating the future you want is about making money work for you. Additionally, this book highlights the importance of keeping money conversations at home and the best ways to improve the chances that a kid will have financial success in the future.

Your Money or Your Life

Author: Vicki Robin

Your Money or Your Life is a book that has helped millions of people from all around the world have a better understanding of the best ways to spend money. The book provides a holistic approach to people’s finances by sharing advice on how to have financial independence. However, Your Money or Your Life is not only a book about personal finance, but it is something that highlights various aspects of life and the best way to organise yourself better. It also offers an opinion on materialism, which is the cause that ruins our money and the finite resources of the planet. The books will make you understand that it is better to have a simple life rather than a frugal one, as happiness is in little things.

The Intelligent Investor

Author: Benjamin Graham

A good financial literacy will make you understand the best ways to invest. And if you are looking for a book to expand your investing knowledge, then you might want to try The Intelligent Investor. In this book, Benjamin Graham provides a comprehensive guide on investing and offers the information needed to make better investment decisions in the stock and bonds landscape. The book has also been referred to as the stock market bible, helping investors understand the importance of investing for the long run and navigating the risks of the stock market.

The One-Page Financial Plan

Author: Carl Richards

The One-Page Financial Plan, written by Carl Richard, is also a book that should be on your next book reading list. Carl Richard has experience as a certified financial planner, and in this masterpiece, he shares good insights using all his expertise. He encourages individuals to use an easy but very effective approach regarding their personal planning. This is why readers are inspired to create a one-page financial plan that will keep them motivated on the path towards success. Additionally, he also shares great insights about investing, saving, budgeting and planning for retirement.

His advice is not impossible to follow, as he also provides real life scenarios to strengthen the financial situation and improve the financial literacy of anyone. The book is written in simple language, without using jargon, and this is why it is suitable for people of all ages.

You Need a Budget

Author: Jesse Mecham

The technique highlighted in this book can help people have a better financial life, which alleviates all the troubles and anxieties that are present with the lack of funds. The author has tried and tested the technique highlighted in the book, which has helped him turn his money management into a powerful tool that changed his life entirely. The books also explain how to avoid living from paycheck to paycheck and how to get out of debt.