May 21

5 Books that Teach You to Manage Money and Get Rich

A lot of people would say that money can’t buy happiness, but if you really think about it, money is power. The thing is, so little of us know how to manage our own money.

So, here are 5 books that can help with that:

Rich Dad Poor Dad by Robert Kiyosaki

If you’re thinking of which book in this list to read first, you should definitely start with this one. “Rich Dad Poor Dad” introduces us to a reality that we don’t often realize early enough, financial skills are not taught well at home and even at school. Kiyosaki states that because of this, we have trouble managing the financial aspect of our lives. He draws different perspectives on money from his father and his best friend’s father to provide valuable lessons about making money.

Think and Grow Rich by Napoleon Hill

This book is one of those “old but gold” books about money management and financial literacy. Though it was originally published in 1937, the teachings and the insight you can get from “Think and Grow Rich” is timeless. Hill has written this book thoroughly giving his analysis of the lives of millionaires and how you can draw financial success based on these.

Your Money or Your Life by Vicki Robin and Joe Dominguez

This book is a great read for the hard workers of Singapore. “Your Money or Your Life” highlights that though you spend most of your time and energy earning money, having more money is not necessarily better if you’re compromising your own well-being. Robin and Dominguez teach that learning to manage your money can be better than aspiring and working for more. That by detaching yourself from money, you won’t need to put your health on the line to be wealthy.

The Richest Man in Babylon by George S. Clason

This book is basically a collection of parables set in ancient Babylon that teaches saving and financial management. It shows how you can be healthy by learning to save money, not spending on useless things, and not getting in debt. The book also highlights the mindset of “paying yourself first” which is basically saving 10% of your income. This is actually a great read because of how you can reflect on the parables and apply the lessons in real life.

The Power of Habit by Charles Duhigg

So far, all the books mentioned focus on financial management, so let’s segue a bit. Although “The Power of Habit” does not directly talk about money, it has a lot of valuable lessons. It explains why habits exist and how bad habits can be changed for better ones. The book tells of people who struggle to change their habits in years, while there are others who can easily change overnight. The main point is, our habits can affect our health and wealth significantly and how these habits can transform our lives as we know it.

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