Money. The international language. The magical substance that makes the world go round. We all want to get our hands on it. But being college students, we see it as a future goal, instead of a current one. Well not any more. The books I’m going to list for you will take you from a dreamer to a believer.
After reading these 10 books, which are super easy reads by the way, you’ll have the knowledge and skills to become a millionaire, even on a 40k per year salary. It’s good to have these skills before the money starts coming in, so as not to develop bad habits. And when are you going to have more time to read than in college right?
But enough talk, let’s dive into the goods! The list is also in order of what you should read first.
- Who Moved My Cheese - A very motivational parable. I found Who Moved My Cheese to be an easy way to learn simple financial life lessons, a way of shaping a more fiscally responsible mindset. Because it’s very basic and easy to read, I always recommend it as a first personal finance read.
- Rich Dad, Poor Dad – Another inspirational tale of a boy who has a dad and a friends dad. His dad makes poor decisions, lives in fear, and never takes risks. His friends dad is exactly the opposite; He takes calculated risk, works for himself, and does not fear. This book will teach you the difference between an asset and a liability. It will help you to learn how to invest in assets and stay away from liabilities. It’s another great ’starter’ finance guide.
- Rich Dad’s Conspiracy of the Rich: The 8 New Rules of Money – I have to be honest… I haven’t read this one yet. But my trusted friend and financial advisor recommended it to me, and every recommendation he’s ever made turned out well, so I trust it enough to recommend it to you.
- The Millionaire Next Door – This book will teach you how saving a little today adds to millions tomorrow. It also shows the different lifestyles of the “rich and famous” and the responsible middle class, and shows a different kind of millionaire; the kind that lives next door and who’s neighbors would never know they are rich. This book will teach you how to become a millionaire even if you only make 40k a year.
- Think and Grow Rich – If you haven’t heard of this one by now, you should probably get out of the basement for a little while. Napoleon Hill wrote this classic of 13 simple success principals that will lead to increased success, both financially and personally. It’s a fantastic read.
- Automatic Millionaire – Automatic Millionaire was a really fun read. It was fast and simple and it taught me how to automate my finances in a way that I’ll never be stressed again. My finances are almost completely automated, which includes investing, bill pay, and even money to go on dates… Not bad, huh?
- Personal Finance Handbook - I like this book because it teaches you the basics of every aspect of money. This includes paying debt, credit cards, stock market, real estate, making large purchases, and so much more. This book will help you find your way, and from it you can choose more specialized books depending on what you want to get into. Think of it as a wikipedia page on personal finance.
- 4 Hour Workweek - Two words: Passive Income. 4 Hour Workweek teaches you to build and implement systems in your life that with very little work on your part will develop into income generating systems. I was inspired to get off my butt and figure out a few ways to bring some $$ my way after reading this book.
- I Will Teach You To Be Rich – This is another book I have yet to read, but with all the hype it’s generating in the business world right now, I thought it might be a good idea to list it. The book is geared towards 20-35 year olds, and teaches everything from automating your finances to entrepreneurship. It’s apparently a great read for everyone our age!
- A Gift To My Children: A Father’s Lessons For Live and Investing – I love this book. You get a real personal feel with this one, as if it were your own dad giving you great advice. You’ll definitely want to pick this one up, both for knowledge and inspiration.
So there you have it, my Must Read Money Books. What books do you think are worth mentioning in this group? What books got your finances on track? Leave your awesome comment below and inspire someone to take charge of their money!
{ 9 comments… read them below or add one }
Your Money Or Your Life by Vicky Robins and Joe Dominguez is an essential read and should be at the top of the list, IMO.
Cool. I gotta check those out!
Think and Grow Rich was one of the first finance books I ever read. I think I was 19 at the time. Later I read Rich Dad, Poor Dad and while I liked it, I hate all the bull crap associated with the book(sleazy seminars etc).
I am going to get the New 4-Hour Workweek as I have heard nothing but great things about the original.
Yeah I've heard there was a lot of crap seminars etc that the author of Rich Dad, Poor Dad tries to sell. I don't worry with that stuff… the book itself is pretty good.
4 Hour Workweek is one of my all time favorites. You're going to enjoy it!
Looking forward to reading The Millionaire Next Door in hopes of becoming a millionaire myself one day ! Thanks for the book suggestions!
I like your list. But one gripe:
Re: Richard Kiyosaki and “sleazy seminars,” more than the seminars are sleazy. There's a great write-up by another real-estate investor at http://www.johntreed.com/Kiyosaki.html — he points out a number of contradictions, clearly false statements, and even illegalities in Kiyosaki's work.
That said, I don't want to leave on a sour note, so I'll also point out some books I really like: Dave Ramsey's “Financial Peace Revisited,” or (for the less religious) Jean Chatzky's “Pay It Down.” Debt is a huge issue for many college students (or likely will be soon after graduation), and these are my favorite books on the subject of getting rid of debt.
Also, I recently read Paul McKenna's I Can Make You Rich; I don't buy everything he has to say, but an interesting read to be sure, and very much in keeping with the spirit of other titles on your list. Cheers!
Hey, friend i have got such worthy stuff here in my first visit on your site. Everyone want to become a rich person. Your 10 books seems very useful to get much knowledge about making money.
I’ve got to second Dave Ramsey’s “Financial Peace Revisited,” or pretty much anything else he’s written. He’s one of the few financial authors who talks about the “whys” of consumerism. What would really make you happy? He’s also more oriented towards people already in debt, but those are great cautionary tales for folks just starting out.
An example: One piece of advice is to never buy a new car – buy a 2-3 year old car off lease or used. In the twenty five years since my wife and I graduated from college, if we had followed that advice, we would have $200K tucked away in savings (we each got new cars every five years, could have saved $5-10K per car, plus the magic of compound interest).
I’d be a lot happier with $200K in the bank than the thrill of driving off the lot ever made me
I personally swear by Rich Dad Poor Dad and Think and Grow Rich.
Kiyosaki is the guy who got me interested in business and not working a 9-5 for my whole life. I don’t know where my mind would be without it.
I have Think and Grow Rich on my bookshelf right now. I’ve read through it about 2 times now. I learn something new every time.