Everybody wants to be financially stable.
To be more precise, everybody feels that money is necessary to live a fulfilled life in these uncertain times of inflation and economic turmoil.
Money can give us much more than flashy material possessions.
Being financially stable is one of the things that can help lead to a good life and enjoy valuable time with friends and family.
At The Money Solution, we constantly seek new ways to help people gain financial freedom.
We also rely on the old recipes such as the stock exchange, Forex – it gets easier to understand Forex when you learn what things like GBP USD mean – and other types of investment opportunities that grow over time, such as real estate.
We live in an era where financial gurus are everywhere on social media.
They are happy to make their own money by educating us on how to be rich.
Some give great advice, but most of us can’t help but feel frustrated with their explanations.
Especially when you have to pay for information to get knowledge that is readily available on social media channels such as Youtube
Many say that wisdom can be found in books, and most agree.
When it comes to monetary decisions and goals, the right books can help you find the best explanation of how to gain financial stability and what money means to successful people.
Here are three best sellers about money and while a couple are a bit older, they still remain relevant.
Rich Dad, Poor Dad by Robert Kiyosaki:
Perhaps the most influential book on this list, Rich Dad Poor Dad, tells the childhood story of its author, Robert Kiyosaki, a serial entrepreneur who fondly remembers his dad.
Loaded with degrees and principles, his dad did everything to climb the professional ladder and ended up being constantly worried about money problems.
His neighbor, Rich Dad, barely had a high school diploma and became a millionaire because of his street-smart attitude.
This book explores key concepts such as multiplying your income sources instead of looking for a higher income.
Differences between good and bad debts are also described.
Despite the first publication in 1997, Rich Dad, Poor Dad has retained its accuracy concerning financial issues.
Advice given in this book still rings true: becoming financially stable implies that your money should work for you, and you shouldn’t expect to become wealthy by simply working à 9 to 5.
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
The most persistent stereotype about millionaires in the United States – and elsewhere – is that wealthy people all live lavish lifestyles.
The two authors of this book have extensively studied the profile of several American millionaires, and they came to some conclusions: a wealthy person can be a passerby that you would never suspect.
The wealth is unlikely to be linked to family heritage.
Instead, it is linked with higher income and smart investments.
First published in 1996, The Millionaire Next Door reaffirms that the American Dream is alive and well.
To become wealthy, you need a combination of hard work, smart choices, good relationships, and patience.
As it shows, intelligence has little to do with money accumulation.
Simple concepts such as DCA (dollar cost averaging) or investing in real estate are amongst the best ideas in the book.
According to the authors of The Millionaire Next Door, all millionaires share seven character traits, such as higher income and frugality.
Indeed, many wealthy people don’t feel the need to show off with sports cars or designer bags.
Pogue’s Basics: Money by David Pogue
Being on solid financial ground is a status that can also be obtained by not falling into every consumerist trap.
At least, this is what the book Pogue’s Basic: Money, first published in 2016, is trying to tell us.
We live in a society full of subscriptions, temptations, and compulsive buying that can bleed us dry of our hard-earned cash.
Examples are endless: You might be paying for a hidden subscription you don’t use.
You might also have a compulsive habit that refrains you from saving enough money for retirement.
The book will offer you an opportunity to spend less on useless things.
Sometimes, the mindset needs to come for the person who stops buying things that they don’t need or makes small sacrifices to calibrate their daily budget.
For example, drinking coffee at home rather than your daily Starbucks fix.
This simple book offers 150 tips to live a more frugal life and get the best prices for everything you buy.
Remember, time is money, and you might follow only some of these tips.
However, if you take the book’s advice seriously, the author guarantees you to save a decent amount of cash.
There are many other interesting books pertaining to financial health.
Depending on your financial goals (saving money, diversifying your income), you will find literature that suits your needs better.
Happy reading!