Hello everyone, in the previous topic we were talking about Business Organization. Today we are going to suggest you the Top 5 Best Books for Financial Education.

Top 5 Best Books for Financial Education

Financial education is the art of investing and managing money and today we will suggest you the Top 5 best books for financial education which you must read to understand the importance of financial education.

So, here are the top 5 best books for financial education-

1. Rich Dad, Poor Dad

Publisher – Business Book Summaries

Author- Robert T. Kiyosaki, Sharon L. Lechter.

If you want to buy this book you can click on the Buy Now button.

Synopsis

This book is about Entrepreneur Mindset and the application of entrepreneur knowledge. Robert Kiyosaki and Sharon L. Lechter is the writer of this foundational and even controversial wisdom contained book published in 1997. They stress six central issues all through the book. These focuses – which separate between the “poor” father (the genuine father) and the “rich” father that assisted them with getting business and gotten well off are-

• The rich don’t work for money
• The importance of financial literacy
• Minding your own business
• Taxes and corporations
• The rich invent money
• The need to work to learn and not to work for money

This book has 3 objectives

1. To show how a rich person handles money differently than a poor/middle-class person i.e. what does he do with the money he earns; and how spending habits drastically vary among these three?
2. To open your eyes to the fact that ‘go to school, get good grades, find a good high-paying job’ does not necessarily guarantee financial independence. Because if you do go by the age-old principle you will find yourself in the biggest trap of your life and you may never knew that you are in it.
3. To make use of the most powerful asset that you are gifted with ‘your mind’. If given proper education and training it can provide you wealth far beyond anyone could ever pay you.

It’s not that by reading this book you will become rich. The lessons and insights given in this book if properly absorbed will be like the first step you will be taking on the path to becoming financially independent.

Contents

20 years … 20/20 hindsight

• Introduction
• Lesson 1: The rich don’t work for money
• Lesson 2: Why teach financial literacy?
• Lesson 3: Mind your own business
• Lesson 4: The history of taxes and the power of corporations
• Lesson 5: The rich invent money
• Lesson 6: Work to learn, don’t work for money

• Overcoming obstacles
• Getting started
• Still, want more? Here are some to do’s
• Final thoughts.

Grooming Urban Personal Review

This book is not just about money. It’s about how we are taught to think; how we are programmed by schools, family, and friends to look at the rich as greedy no good bloodsuckers, and opportunities as risks. It is an attempt to reprogram minds to look at why we do, what we do, why we buy all these shoes, clothes, cars, jewelry. Have we earned it or are we just trying to maintain an image?

To us, the most important thing it teaches is that being educated is the key which meant being educated in our motives, in money, in the world around us. Education does not always mean a degree lesson it also means to learn anything at any time.

The book is great for people who think in pictures and in theory. In the book, the author explains his financial theories clearly and adds diagrams to explain how money flows into and out of our wallets.  This book broke down to us the whys. We will give this book 5 out of 5.

Favorite quotes from this book– “You’re only poor if you give up. The most important thing is that you did something. Most people only talk and dream of getting rich. You’ve done something.”

– Rich Dad, Poor Dad

2. Broke Millennial: Stop Scraping By and Get Your Financial Life Together

Publisher- Penguin Publishing Group

Author- Erin Lowry

If you want to buy this book you can click on the Buy Now button.

Synopsis

Broke millennial shows step by step how to go from flat broke to financial badass. Unlike most personal finance books out there, it doesn’t just cover boring stuff. It teaches those in their twenties and thirties that how they would manage their finances so that they can stop scraping by and instead begin to live more confidently when it comes to money.

This book shows how to take a few crucial steps to take control of your finances i.e. making a budget. Creating an emergency fund. Working with the right bank. Knowing and nurturing your credit score. Using credit cards wisely. Dealing with your debt effectively, including student loans. Deciding whether to buy or rent a home. And, even as a millennial, preparing for your retirement.

Contents

• Chapter 1 Money Isn’t the Worst! Seriously.
• The moment in which J attempt to convince you that learning about money can actually be fun.

• Chapter 2 Is Money a Tinder Date or Marriage Material?
• Learn how to identify, understand, and overcome your psychological blocks when it comes to money.

• Chapter 3 Do You Have a Gold Star in Personal Finance?
• Discover how you’re doing financially so far and ways to take better control of your money.

• Chapter 4 Dealing with the Dreaded B-Word
• The basics of budgeting and how to find the budgeting method that suits you best.

• Chapter 5 Picking the Right Financial Products (aka The Chapter in Which This Book Pays far Itself)
• Uncover the ways banks are screwing you over and what you can do to stop them.

• Chapter 6 Credit Reports and Scores: The Report Card for Life
• Get your credit score on fleek without taking on unnecessary debt, and learn how to handle items in collections.

• Chapter 7 Wait, I Shouldn’t Just Pay the Minimum Due on My Credit Card?
• Make sure you actually understand how to use a credit card properly, and learn how to find the best one with perks.

• Chapter 8 Yikes, I Already Have Consumer Debt. What Now?
• Ditch that debt effectively with one or several tools explained in this chapter.

• Chapter 9 Student Loans: How to Handle Them Without Having a Full-On Panic Attack
• The tide says it all.

• Chapter 10 I’ve Got Debt, So Why Should I Care About Saving? (Pay Yourself First)
• Find out why you should save and how to do so if you have debt; if you’re debt-free, check out the tips on saving and see your net worth skyrocket.

• Chapter 11 I Can’t Afford to Split This Dinner Bill Evenly!
• Navigating finances and friendship.

• Chapter 12 Getting Financially Naked with Your Partner
• How to have that first awkward money conversation with your partner without you or him/her running for the door.

• Chapter 13 Paying Rent to Your ‘Rents: Overcoming the Emotional and Financial Battles of Living at Home After College.
• Living at home can be a financial windfall, but don’t let it drive you or your parents crazy.

• Chapter 14 How to Negotiate Salary (or Anything Else) by Learning to Ask For What You Want
• People can’t read your mind, so find out how to tactfully tell them what you deserve and why you should get it.

• Chapter 15 Investing: No, It Isn’t Gambling!
• Decode the world of investing and team how accessible and important it is for your financial plan.

• Chapter 16 Retirements: Can It Ever Happen for Me?
• Yes, let me show you how!

• Chapter 17 I’m Not Rich Enough to Hire a Financial Planner
• Doubt it! Uncover how the modern financial planning industry works and who you should trust with your money.

• Chapter 18 But My Broker Said I Can Afford This Much House
• Homeownership mayor may not be for you right now, but understand how to handle the process once you get there.

• Epilogue: Now That You’re A Financial Badass, Keep It Up!
• Acknowledgments
• Financial Resources Guide
• Notes
• References
• Index

Grooming Urban Personal Review

This book just makes sense. It dumbs down all those complicated ideas about budgeting and finances in a way that anyone can understand. Plus it’s a good read! It’s written well enough that it’s not boring; it’s injected with fun little stories and anecdotes that make it a light-hearted read. The best thing about this book is that you can dip in and out in any order you like too. We will give it 4.9 out of 5.

3. The Total Money Makeover: A Proven Plan for Financial Fitness

Publisher ‏-Thomas Nelson

Author- Dave Ramsey

If you want to buy this book you can click on the Buy Now button.

Synopsis

In the Total Money Makeover, radio talk show host and author Dave Ramsey layout simple steps for freeing yourself from debt and setting yourself up for success. You all heard about the nutty get-rich-quick schemes, the fiscal diet fads that leave you with a lot of kooky ideas but not a penny in your pocket. If you’re tired of the lies and sick of the false promises, take a look at this book – it’s the simplest, most straightforward game plan for completely making over your money habits. And it’s based on results, not pie-in-the-sky fantasies. With The Total Money Makeover, you’ll be able to:

1. Design a sure-fire plan for paying off all debt- meaning cars, houses, everything.
2. Recognize the 10 most dangerous money myths.
3. Secure a big, fat nest egg for emergencies and retirement!

Contents

• Introduction: What this book is NOT
• Flying turkeys and skinny dipping
• The total money makeover challenge
• Denial: I’m not that out of shape
• Debt myths: debt is (not) a tool
• Money myths: the (non)secrets of the rich
• Two more hurdles: ignorance and keeping up with the Joneses
• Save $1,000 fast: walk before you run
• The debt snowball: lose weight fast, really
• Finish the emergency fund: kick Murphy out
• Maximize retirement investing: be financially healthy for life
• College funding: make sure the kids are fit too
• Pay off the home mortgage: be ultra-fit
• Build wealth like crazy: become the Mr. Universe of money
• Live like no one else
• Meet the winners of the Total Money Makeover Challenge
• Total Money Makeover worksheets.

Grooming Urban Personal Review

This is a very practical book. This book will hit you in the gut and make you shake your head at the same time. It will be hard to listen to and even harder to do. But, will be beneficial to you in the end.

In this book, Dave likens a lot of his advice to working out and getting in shape. He paints the view of someone working hard to ride his bike up the mountain, pushing all the way to the top with “gazelle” like attitude. Once there, enjoy the wind and breeze flying down.

We like this book for many reasons. One should definitely go for it. We will give it 4.5 out of 5.

Favorite quote from this book– “For your own good, for the good of your family and your future, grow a backbone. When something is wrong, stand up and say it is wrong, and don’t back down.”

– The Total Money Makeover: A Proven Plan for Financial Fitness

4. The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich

Publisher – Penguin

Author- David Bach

If you want to buy this book you can click on the Buy Now button.

Synopsis

 The Automatic Millionaire David Bach unlocks the secret to getting rich. Cutting through the jargon, it’s full of common-sense advice and practical strategies to help you take control of your finances. It is filled with inspiring stories of people who have built long-term wealth. This book follows the concepts of “paying yourself first” and “making it automatic”. Bach gives you a totally realistic system. The things that make this book unique is that-

1. You don’t need a budget
2. You don’t need willpower
3. You don’t need to make a lot of money
4. You don’t need to be that interested in money
5. You can set up the plan in an hour

This book has the power to secure your financial future and change your life. All you have to do is follow the one-step program -the rest is automatic!

Contents

• Preface
• Introduction
• Chapter 1: Meeting the Automatic Millionaire
• Chapter 2: The Latte Factor: Becoming an Automatic Millionaire on Just a Few Dollars a Day
• Chapter 3: Learn to Pay Yourself First
• Chapter 4: Now Make It Automatic
• Chapter 5: Automate for a Rainy Day
• Chapter 6: Automatic Debt-Free Homeownership
• Chapter 7: The Automatic Debt-Free Lifestyle
• Chapter 8: Make a Difference with Automatic Tithing
• Chapter 9: The Automatic Millionaire Blueprint
• A Final Word: Your Journey Begins Today!
• Be Inspired! Automatic Millionaire Success Stories
• Acknowledgments
• Index

Grooming Urban Personal Review

It’s a beginner-intermediate-level personal finance book. Taking it into that context it is a great book to read. For someone who wants to know finances 101 in a palatable and realistic way, you really can’t beat Auto Millionaire. We will recommend this book for those who are learning about managing money. We will give it 4.2 out of 5.

Favorite quote from this book– “Remember, inspiration unused is merely entertainment. To get new results, you need to take new actions.”

– The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich

5. Why Didn’t They Teach Me This in School? 99 Personal Money Management Principles to Live by

Publisher ‏ – ‎Createspace Independent Publishing Platform

Author- Cary Siegel

If you want to buy this book you can click on the Buy Now button.

Synopsis

Why Didn’t They Teach Me This in School? 99 Personal Money Management Lessons to Live By was initially developed by the author to pass on to his five children as they entered adulthood. As it developed, the author realized that personal money management skills were rarely taught in high schools, colleges, and even in MBA programs.

The book includes eight important lessons focusing on 99 principles that will quickly and memorably enhance any individual’s money management acumen. Unlike many of the personal money management books out there, this book is a quick, easily digested read that focuses more on the qualitative side than the quantitative side of personal money management. The principles are not from a textbook. Rather, they are practical principles learned by the author as he navigated through his financial life.

Contents

• Life lesson
• Budgeting and saving lesson
• Spending lesson
• Debt and credit card lesson
• Investing lesson
• Housing lesson
• Insurance lesson
• Quick tips.

Grooming Urban Personal Review

We will give you a quick review of this very quick read book. Literally, there are 99 tips in this book with relation to personal finance and the author delves into each notation with precise and somewhat helpful advice. We will admit what made us pick up this book was a combination of different things – the promise of a quick read, the expansion on personal financial management, and the quirky title. We will give it 4 out of 5.

Favorite quote from this book– “Home mortgage- If you pay one extra month’s mortgage (write, “Principal only” on the check and send a note to the lender), you will take seven years off a thirty-year mortgage.”

– Why Didn’t They Teach Me This in School? 99 Personal Money Management Principles to Live by

So, that is all for today guys see you in our next blog. If you like our article please doesn’t forget to share with others & follow our Instagram page for your daily dose of Motivation.

Thank You,

Regards

Grooming Urban

General FAQ