5 Recommendations to Build Your Personal Finance Library

photo credit: paul goyette

Scouring the internet is a great way to acquire knowledge, but there are few things better than a comprehensive book, written by an expert. That’s why, if you’re trying to build your personal finance library, it’s best to start with the basics. The following books pour are like a personable, accessible course in Personal Finance 101, giving you a solid base on which to grow your knowledge.

• The Millionaire Next Door by Stanley and Danko: After studying and surveying millionaires, the authors boil their results down into manageable, understandable methods to amounting personal wealth. Learn why most millionaires actually drive used cars, and take few vacations.
• Rich Dad, Poor Dad by Robert T. Kiyosaki and Sharon L. Lechter: The authors assert that wealthy parents generally teach their children certain personal finance principles that poor parents can’t. Kiyosaki strives to teach “financial literacy,” touching on topics like saving and assessing risks..
• Richest Man in Babylon: This personal finance classic, written in the language of parables, was first distributed in the 1920s. Partly in testament to its staying power, this wise otme is still a personal finance must-read.
• The Total Money Makeover by Dave Ramsey: Famous for his rise to wealth and quick descent into bankruptcy in his mid-twenties, Ramsey is an advocate of the “debt snowball” and avidly anti-credit. His methods are tough, but they work to help anyone climb out of debt and start building a personal fortune.
• Jim Cramer’s Real Money: San Investing in an Insane World by James J. Cramer: Prepare to spend at least an hour a week with your investment portfolio, and learning about every, single detail. He builds his investment advice on two main principles –diversification and speculation — and shows the everyman how to build wealth with smart, relatively safe investment strategies.

Tags: books | personal finance | Saving | Saving Money