Have you ever found yourself searching for a bunch of books to grow your mindset about money and don’t know which one to pick up first?
Then don’t worry, I’m here to give the top 3 books that will change your mindset about money, indeed.
These books are kind of revolutionary when I read them for the first time a few years ago.
At this point, I read many books in different categories, and I’m not going to say,
The books that I’m going to recommend here, will be 100% sure you will learn so many things which you didn’t think about before about money.
I was always been a curious guy when It comes to my personal finances and how money works, and that curiosity led me to a different experiment.
That’s why I started reading books in my early 20s, because I knew lack of financial education leads to a lot of problems in daily lives.
Whether spending money, managing debt, investing, or budgeting.
You’re calculating your Net worth becomes really essential to live a better life and become financially free.
That’s why you should learn those skills before getting into real trouble. And what’s the best way than reading books, where you can learn someone’s entire life experience, just in a single book.
These are the books that changed my mindset about money forever, and you should also read them before making any bad financial decision.
Table of Contents
Top 3 Books That Will Change Your Mindset About Money
Before I give you the list of money mindset books, I just want to tell you, there are more than 100 books out there in the world that might have a different aspect of thinking about money.
And the good thing is all methods works basically in the same way, so these books are pretty valuable for you to change your mindset about money.
Side Note: You can start with these books but don't end up here, there are 1000s of books out there about money, so keep learning. It's just my personal preference and the list is too short to keep it all.
Disclosure: This post contains affiliate links. If you use these links to buy something, we may earn a little commission at no additional cost to you.
1. Rich Dad Poor Dad
Best Personal Finance Book Of All Time
This book is a no-brainer when It comes to the personal finance and taking about money mindset.
I read this books 3 years ago, and it was revolutionary.
It’s been on the New York Times bestsellers list for over 6 years, that tells you a lot.
If you are thinking to become rich, then this book is not for you, which we will talk just in a second. This book is all about how we make money, where do we spend, and all those basic fundaments of managing your money.
It’s about what rich people teach their children’s & why they become so successful.
It’s about how we are taught to think; how we are programmed by schools, family, and friends to look at the rich as greedy no good bloodsuckers and opportunities as risks.
Furthermore, it is an attempt to reprogram minds to look at why we do what we do..
- Why do we buy all these shoes, clothes, cars, jewelry, etc.?
- Have we earned it, or are we just trying to maintain an image?
To me, the most important thing it teaches is that being educated is the key.
Educated in our motives, in money, in the world around us, Educated does not always mean a degree lessons can be learned anywhere at anytime.
READ IT! READ IT! READ IT!
- My Personal Favourite
- Recommended For Everyone
- Best Quote: "I have never met a rich man who hasn't lost a lot of money, but I have met a lot of poor men who have never lost a dime."
2. The Psychology of Money
Best Money Mindset Book For Everyone
The Psychology of Money is one of those money books that lay the fundamentals required for investment and saving your money without pushing and punishing with a lot of jargon, technical terms, and read-the-offer-documents-carefully-before-investing kind of mundane warnings
I wanted to keep The Simple Path to Wealth on the number 2, & It’s still one of my favorite books about managing money, but I kept this one just because,
It speaks in a very clear manner, chapters being crisp and brief, in a language that is assertive with a lot of understanding of the psychology of an individual average investor/human who wants to secure the future.
This book will be in good demand for sure in the years to come and will be at par when it comes to books like Rich Dad Poor Dad which I just mentioned above.
Morgan Housel shares 19 stories exploring the strange ways people think about money. It covers observations on our relationship with money and tells us how our thinking towards finances drives the critical decisions of our life.
The premise of this book is that — doing well with money has little to do with how smart you are and a lot to do with how you behave.
It inspires you to live a wealthy life by making smart decisions.
A very well-written and well-explained book and a must-read for all those people who are careless with money specifically.
- Must Read For Careless Debtors
- Best Quote: "If you buy too many things from your money, all you have is too many things and no money."
3. I Will Teach You to Be Rich
Best Book On Becoming Rich With Action Plan
This is definitely one of the best money books I’ve read so far. It’s a logical, step-by-step, practical handbook for financial success, specially written for twenty-somethings.
It was better than the personal finance books I’ve read by Eric Tyson, Andrew Tobias, Dave Ramsey,& Suze Orman.
Sethi gives advice on “automatically enabling yourself to save, invest, and spend — enjoying it, not feeling guilty, “because you’re spending only what you have.”
His main point: automate your finances, so you effortlessly save and invest, leaving you money to spend on things you love without feeling guilty.
Automatic saving and investing help overcome psychological barriers and laziness.
In addition to his emphasis on automation, I agreed with Sethi’s recommendation for long-term, passive, buy-and-hold investing instead of speculative, market-timing investing.
I also liked Sethi’s 85 Percent Solution, which states that it’s better to act and get it 85% right than to do 0%; sometimes good enough is good enough, and it’s always better than doing nothing.
Highly recommended for young adults who want to break the financial trap.
- Seond Edition - May-14-2019
- Must-Read For Young Adults
- Best Quote: “The 85 Percent Solution: Getting started is more important than becoming an expert.”
[Bonus] The Richest Man in Babylon
Best Inspiring Book On Money & Wealth
So the list is over, but I still want to recommend you one more money books, which is not about forming a money habit or making you rich overnight but,
The inspiring story of a man who became the richest man in Babylon.
Did this book changed my life? Yes, in a manner of speaking.
There are many out there who desperately want to learn the basics of handling money, & the story in this book is a no-brainer.
The Richest Man in Babylon takes a different approach.
It puts the base concepts of your handling money and puts them in a story format, whose principles are extremely easy to comprehend (at least as compared to the overblown rationale behind the other financial books) for the layman.
Due to their simplicity, the concepts are very memorable and consequently easily recalled after 10 years. The last time I read this book was in 2002, and I can still remember the base concepts from the book:
- Pay yourself first (Save at least 10% of your paycheck)
- Don’t trust a bricklayer to buy jewels (Don’t get caught up in other people’s excitement. Go see the experts instead)
- Don’t put all of your eggs in a single basket (diversify your portfolio).
- Control thy expenses. (Even the richest man has a time constraint on his life. Do what you enjoy, but don’t overdo it)
- Increase your ability to earn (That one is self-explanatory)etc.
Keeping these base principles in mind will help you through economic hard times.
Absolute gem.
Alternative – Think And Grow Rich [To Generate New Ideas]
- Most Inspiring Book About Wealth
- Best Quote: “Advice is one thing that is freely given away, but watch that you only take what is worth having.”
Important Note: If you already have a bunch of books and wondering how to manage them properly, then you might need a bookshelf to do that. I use it myself, and it’s amazing, looks also beautiful, you can check out our list if you want to get one.
Final Advice
At this point, hope you got the top 3 books that will change your mindset about money.
And do you have any other money books that can toss-up with these, let me know in the comment section below.
I'll be happy to know yours though on it. More on, which book is your favorite on my money mindset list? Or do you have something else on your mind?
Lastly, I just want to say, take your time to learn all the basic fundaments about how money works, otherwise, It doesn't matter how much money you make,
If you don't know how to use it, then you will end up losing it all.
It's not about how much money you make, It's about how much money you can keep it & use it to make more money.