Do you want to become more successful with your finances and with making money? Building wealth starts with knowing how to invest in yourself. And that kind of enlightening knowledge and ideas are usually found in books.
If you want to make more money or if you want to improve your money management skills, you must first, radically change the way you think.
So in this article, I present to you a list of my personal favorite books on building wealth and improving your personal finances that have helped me carve my own path towards wealth. These, according to me, are absolute must-haves in the finance section of your library!
The topics and the teachings in these books are very relevant even in current times. So stick with what you like best about these books, apply it in your own life and tell me how it improves your finances.
The 10 Best Books On Wealth-Building
1. Rich Dad Poor Dad – Robert Kiyosaki
This list couldn’t possibly start without this book. I expect that most entrepreneurs are familiar with this book. Haven’t read it yet? Then I highly recommend that you do so as soon as possible! Robert Kiyosaki has challenged and changed the way tens of millions of people worldwide think about money.
In his book, he explains how it is possible that people have been in school for years, but have learned nothing about money. This is why people struggle with their finances. They have learned to work for money, but they have never understood what it means to make money work for them.
In his book, for example, he debunks the myth that you must have a high income to become rich. He also shows why he believes that parents cannot rely on the school system to educate their children about money.
Through this author, investor and speaker, I discovered for the first time important concepts such as good debt and bad debt; asset and liability and the money flow quadrant.
If you have a teenage child, please have them read this ASAP. It may be the best thing you do to teach them about money and finances.
2. The 4-Hour Work Week – Timothy Ferriss
Timothy Ferriss studied the secrets of the new rich and writes about this in his book The 4-Hour Work Week. The new rich are the ones who reject the idea of a retired life after the age of sixty-five (or later) and who create a luxurious lifestyle here and now by using the available resources – time and mobility.
Whether you are an entrepreneur, unemployed or employed, this book tells you about a new way of life with few working hours, lots of free time and money in abundance.
3. Think & Grow Rich – Napoleon Hill
If you haven’t read this book yet, I suggest you do it right now! If only, because of the positive energy you get out of it and the possibilities you will see.
Napoleon Hill has spent thirty years working with America’s most creative and successful entrepreneurs, inventors, businessmen, industrialists and political leaders. He has learned firsthand why they succeeded, while others failed.
More than five hundred of the most famous self-made multi-millionaires personally revealed to Hill the secrets they have used to break free from poverty and achieve their own success.
4. The Richest Man In Babylon – George Clason
This beautiful classic tells you the history of the Babylonian-Assyrian Empire while teaching you the seven golden rules of prosperity and well-being. This book contains the solution for too little money and has been called a guide to financial insight by many. The book contains insights that will help you make money, keep the money and make more money with that money.
It is a source of inspiration for financial growth and solving difficult budgetary situations in particular. The book has been distributed in volumes to customers and employees by banks and insurance companies since 1926 and still, I recommend it highly to everyone. Or rather, we should include this book in primary education.
Even though this book was written a long time ago, most of its teachings are still extremely relevant today, which is why it is considered a personal finance classic!
5. Smart Women Finish Rich – David Bach
David Bach is a Financial Advisor who inspires women to get started with their financial planning. He was featured on The Oprah Winfrey Show a few times and wrote a number of bestsellers including this one. He teaches you the basics of financial advice in nine steps.
In this book, he also devotes a chapter to the smart financial education of children. And you will find a template to map out your entire financial situation yourself.
6. You Were Born Rich – Bob Proctor
You may already know Bob Proctor from the book (and the movie) The Secret. In his bestseller, you learn among other things, what money is, how to determine your future and how to bring abundance into your life.
He also discusses the vacuum law of prosperity: why you have to let go of the old to make room for the new. Everyone is born rich, most people are only temporarily short of money. We have all the right puzzle pieces but sometimes it just doesn’t work to get them all in the right place. The promise of this book: a simple plan that takes you from where you are now to where you would like to be.
7. The Millionaire Next Door – Thomas J. Stanley
Another classic book on building wealth. After interviewing millionaire entrepreneurs, the author outlined a guide in which he collected seven characteristics that these successful people have in common, with the aim of illustrating winning thoughts and attitudes to the reader.
This book challenges every common misconception about money that we are used to believing since childhood.
In fact, the first assumption of the book is that building wealth is not about those who manage to break through and make money, but those who have understood what strategy is best to successfully manage their capital.
This book has a lot of tidbits that you can learn from and apply practically to your life.
8. Secrets Of The Millionaire Mind – T. Harv Eker
This book mainly focuses on the beliefs and thoughts of those who are wealthy. The author believes that, first and foremost, to become rich and free, we need to reprogram the mind so that we can truly achieve our wealth goals.
It will introduce you to the basics of money. In fact, more than money itself, this book is more about the way we think about money. In his book, T. Harv Eker explains flawlessly why some earn little whereas others, a lot of money. It all has to do with the way we think about money.
9. The Warren Buffett Way – Robert G. Hagstrom
Warren Buffett, one of the largest investors in the world, consistently on the top 10 richest people in the world list: till date his investment fund, founded in 1956 with a capital of 105,000 dollars, manages over 142 billion dollars, earning the title of one of the most profitable funds.
In this book, the author outlines the “Buffett method”, examining in detail his private life, his professional background, his greatest financial successes, the psychology behind financial decisions, and the 12 paradigms underlying his work philosophy.
10. MONEY Master the Game – Tony Robbins
Tony Robbins wrote this best-seller focusing on personal finance. In this book, the author explains how to manage money and achieve financial freedom.
To write the chapters, Robbins interviewed the most influential financial experts of current times, such as Ray Dalio, Steve Forbes, and Warren Buffett.
In a very simple way, the author provides the reader with the right motivation to scale success and reach their goals without running into blunders and unnecessary time-wasting.
So there it is, some of the best books on building wealth from where you can read and apply the teachings to your own life.
This list is by no means exhaustive. Every week I come across interesting and valuable books about financial growth and success, but these are some of the most valuable ones that I’ve read.
Are there any other books that have had a lot of impact on your wealth-building journey and that you would like to recommend? Let me know in the comments below!