A large number of people don’t have the slightest idea of finance general knowledge. It’s crystal clear that lack of substantial knowledge on finance hurts not only individuals but a country’s economy as well. Reading is one way you can refine your financial know-how. The interwebs have lots of essential information, but it’s advisable to read a book for those willing to explore a particular topic as it will be more detailed.
Visit a library or bookstore and pick the one which covers what you are interested in since finance is a broad topic. Despite having a large number to choose from, they cover almost what you need to know about finance, be it management or debt issues. Those utterly new on financial matters should read at least one of the books below and learn how to make informed money decisions.
“The Richest Man in Babylon” written by George S. Clason
In the 1920s, he scripted several informational pamphlets which banks and insurance company handed to their clients. The pamphlets were compiled later to be published as a book. It mainly focused on financial behavior like saving, living within your means, avoiding get rich quick schemes, and keeping away from risky investments. It presents financial knowledge easily and understandably.
“The Index Card” written by Helaine Olen and Harold Pollack
Are you looking for a modern perspective on individual finance? Then this is the book to get. It breaks down basic rules on money management. Each chapter focuses on one rule; hence the book can be beneficial to beginners or anyone looking to understand it.
“The Money Book for the Young, Fabulous and Broke” written Suze Orman
Many personal finance publications focus on the middle-aged working group, which is an exception in this book. Orman targets the young, mostly those out of college and not financially stable yet. It shows how these millennials can attain financial stability while avoiding debts and minimum pay.
“The Total Money Makeover” written by Dave Ramsey
In this book, Ramsey focuses on how one can ease the debt burden. It gives a strategic guide to save for retirement and still manage to clear any debt burden by creating an emergency fund. By following this method, one can clear the debt at a time.
“Zero Debt” written by Lynnette Khalfani-Cox
From her own experience with accumulating debt, she outlines how one can slowly pay off their debt. It gives tips on negotiating with your creditor and legally what debt collectors can or can’t do for you. According to Lynnette, a credit counselor needs to guide you on such matters.
“Broke millennial” written by Erin Lowry
The book mainly addresses youngsters who are still paying school loans and trying to remain financially stable. It points out how they can relate to money to avoid financial stress. Money psychology helps you to understand when and how to act in case of a financial crisis.
