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There’s never a wrong time to improve your financial IQ. Why not start today? Don’t fear if you feel like you are behind in this department. There is still time to improve your financial IQ by making the most of your free time and checking out any of these nine best-selling personal finance books.
Learn how to catapult yourself to success and better manage your money, and maybe even teach the kids to a thing or two before they begin their financial lives. With a robust financial IQ, you can have even more free time in the future to unwind and enjoy peace of mind, knowing you have your finances in order.
Favorite Books to Increase Your Financial IQ
A Total Money Makeover by Dave Ramsey
Okay, folks, do you want to turn those big and flabby expenses into a well-toned budget? Do you want to transform your sad and skinny little bank account into a bulked-up cash machine? Then get with the program, people. Dave uses his common sense baby steps and real-life stories to teach you all about your money.
The Millionaire Next Door by Thomas J. Stanley
The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door.
One Page Financial Plan by Carl Richard
The most important thing is getting clarity about the big picture so you can cope with the unexpected. Maybe you’ll lose the job you thought was secure; you’ll take a financial risk that doesn’t pan out; you’ll have twins when you were only budgeting for one. In other words: Life will happen.
But no matter what happens, this book will help you bridge the gap between where you are now and where you want to go.
Your Money or Your Life by Vicki Robin and Joe Dominquez
In an age of high economic uncertainty when everyone is concerned about money and how they spend what they have, Your Money or Your Life is an essential read. The book focuses on the premise that we exchange our time for money. And when you start thinking about how many hours of your life it took to save up the money to buy something, you start thinking twice about your purchases.
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach
The Automatic Millionaire tells a compelling story of an average American couple, whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. Through their story, you’ll learn the surprising fact that you cannot get rich with a budget! You have to have a plan to pay yourself first that is automatic, a plan that will automatically secure your future and pay for your present.
I Will Teach You to Be Rich by Ramit Sethi
At last, for a generation that’s materially ambitious yet financially clueless comes I Will Teach You To Be Rich, Ramit Sethi’s 6-week personal finance program for 20-to-35-year-olds. An efficient approach delivered with a nonjudgmental style that makes readers want to do what Sethi says, it is based on the four pillars of personal finance— banking, saving, budgeting, and investing—and the wealth-building ideas of personal entrepreneurship.
Think and Grow Rich by Napoleon Hill
In Think and Grow Rich, Hill draws on stories of Andrew Carnegie, Thomas Edison, Henry Ford, and other millionaires of his generation to illustrate his principles. This book will teach you the secrets that could bring you a fortune. It will show you not only what to do but how to do it. Once you learn and apply the simple, basic techniques revealed here, you will have mastered the secret of real and lasting success.
Money and material things are essential for freedom of body and mind. Still, there are some who will feel that the greatest of all riches can be evaluated only in terms of lasting friendships, loving family relationships, understanding between business associates, and introspective harmony which brings one true peace of mind!
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle
John C. Bogle, the founder of the Vanguard Group and creator of the world’s first index mutual fund—has relied primarily on index investing to help Vanguard’s clients build substantial wealth. Now, with The Little Book of Common Sense Investing, he wants to help you do the same.
It is filled with in-depth insights and practical advice. The Little Book of Common Sense Investing will show you how to incorporate this proven investment strategy into your portfolio. It will also change the very way you think about investing. Successful investing is not easy. (It requires discipline and patience.) But it is simple. For it’s all about common sense.
Smart Money Smart Kids: Raising the Next Generation to Win With Money by Rachel Cruz
In Smart Money Smart Kids, financial expert and best-selling author Dave Ramsey and his daughter Rachel Cruze equip parents to teach their children how to win with money. They start with the basics like working, spending, saving, and giving. Then moving into more challenging issues like avoiding debt for life, paying cash for college, and battling discontentment, Dave and Rachel present a no-nonsense, common-sense approach for changing your family tree and increase your kid’s financial IQ.
What are your favorite books to raise your Financial IQ?
Brian is a Dad, husband, and an IT professional by trade. A Personal Finance Blogger since 2013. Who, with his family, has successfully paid off over $100K worth of consumer debt. Now that Brian is debt free, his mission is to help his three children prepare for their financial lives and educate others to achieved financial success. Brian is involved in his local community. As a Financial Committee Chair with the Board of Education of his local school district, he has helped successfully launch a K-12 financial literacy program in a six thousand student district.