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Personal Finance Books

The RCS blog was inspired by some of the books I have read. My personal finance journey has just begun but these books have been instrumental in starting it. They provide important information and different perspectives on how our money should be used. There is no one way to spend your money correctly and these books help to emphasize that. After reading one or a few of these books you will understand that there are a few constants in personal finance such as living below your means, building a safety net, and many more.

  1. Rich Dad Poor Dad
  2. I Will Teach You to be Rich
  3. The Millionaire Next Door

Rich Dad Poor Dad

Rich Dad Poor Dad written by Robert Kiyosaki tells his story of growing up with two dads. One his real father and the other his “rich dad”. The book explains how important it is to have your money work for you and building the correct money mindset. Rich Dad Poor Dad has sold millions of copies and advocates for important topics such as of financial literacy, financial independence, and building wealth through investing in appreciating assets. The book also explains some of the macrostructures that teach us how to think about money, the book separates us from these structures and allows us to develop a relationship with money that is better able to benefit us as individuals. Put it on your reading list as it can change the way you look at money and finances.

I Will Teach You to be Rich

A must read book for those attempting to start their “Rich Life”. I Will Teach You to be Rich is a New York Times and Wall Street Journal Bestseller. I have been a major advocate for this book ever since I read it. The book originally written in 2009 by Ramit Sethi was recently updated in 2019. Whether you read the older or newer version the information remains fairly consistent and still holds value in the current day. This book is a big reason why I started my blog and many of my posts are inspired by concepts within the book. I Will Teach You to be Rich focuses on concepts such as paying off student debt, setting up no-fee, high interest bank accounts, and automating your finances. Ramit is able to teach valuable information while using very simplistic language and providing a step-by-step logical book for financial success. With a focus on young people the book has been able to provide valuable information to a generation that is notoriously bad with using their money. A perfect book to begin your personal finance career with.

The Millionaire Next Door

The Millionaire Next Door teaches the reader that the people we think are millionaires are probably swimming in debt. The people we think are millionaires live a consumerist lifestyle and although they might be making a large income they probably spend a substantial amount of it. The book talks about how the majority of millionaires live in less costly areas and are not concerned about the lifestyle they live, often living far below their means even though they are wealthy. The book categorizes people as Prodigious Accumulators of Wealth (PAWs) and Under Accumulators of Wealth (UAWs) and attempts to separate the idea of having high income and being wealthy. Check this book out if you’re looking to gain a better understanding of building long-lasting wealth.

These 3 books are a great place to start. It is only the beginning and these books are only a taste of what the personal finance sector has to offer. For other resources check out our Instagram account where we post resources weekly.

https://www.instagram.com/therichcollegestudent/

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