The 7 best money management guides

The 7 best money management guides

With 2016 drawing to a close it’s time to start getting prepared for a bigger, better 2017. It’s definitely a good idea to address your financial position and to help you get started we’ve decided to bring you 7 of the best books written on money management.

These books have been read by millions, changed lives, gotten the seal of approval from financial experts, and set their readers on the path toward financial independence, stability, and growth.

1. “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko

Based on a 20-year-study of millionaires’ habits, this book lays out seven simple rules to follow so that you accumulate wealth on a normal salary. While some rules are common sense (“spend less than you earn”) others might surprise you. Everything is backed by both data and interviews with people with accumulated net worth of $1 million or more, for a compelling blueprint for attaining a stable upper middle class life.

2. “I Will Teach You To Be Rich” by Ramit Sethi

True to the title, Sethi has an in-your-face style of writing that will give you the kick you need to get it together financially. His six-week personal finance program lays out a roadmap for getting your finances in order, with some great stories along the way. His tips are simple, easy to understand and easy to implement.

3. “The Richest Man in Babylon” by George S. Classon

Written in 1926, The Richest Man in Babylon provides simple financial advice through a collection of parables set in ancient Babylon. Through their experiences in business and managing household finance, the characters in the parables learn simple lessons in financial wisdom. A testament to the idea that no matter how much technology improves and the world changes, many concepts, especially those around money remain the same.

4. “You’re So Money: Live Rich Even When You’re Not” by Farnoosh Torabi

A savvy, realistic and funny finance book written for those who are starting out in their working lives but love their lattes and nights out with friends. Torabi teaches readers how to splurge without draining the bank and where to find easy places to save money to balance it out.

5. “Thinking, Fast and Slow” by Daniel Kahneman

Daniel Kahneman is a Nobel-winning behavioural economist who takes readers on a tour of the mind and explains the two systems that drive the way we think, offering practical insights into how we make choices in both our business and our personal lives.

6. “The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money” by Carl Richards

Richards, a financial planner, goes over the most common, repeated financial mistakes that we make, such as buying things that aren’t meaningful, and why. Then he gives you tips and suggestions for how to avoid these mistakes yourself.

7. “The Investment Answer” by Daniel Goldie and Gordon Murray

When you’ve mastered budgeting and paying off debt, turn to this book, which covers the financial decisions you’ll have to make when deciding to grow your net worth through the market. Goldie and Murray cover whether to invest on your own or with the help of a professional, how to diversify, and when to buy or sell. It’s a brief, easy-to-read book that won’t leave your head spinning.

Got any you’d like to add? Let us know!

Sacha Loutkovsky
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