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Read these three books to master the art of money management

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The three nonfiction books listed below have all the necessary information to turn you into a money management pro. You can find the detailed version of these books on various book summary apps.

Rich Dad, Poor Dad by Robert Kiyosaki

Rich Dad, Poor Dad written by Robert Kiyosaki is a value-adding self-help guide that offers insights to attain financial independence and financial literacy at a very early age.This book is fully loaded with important nuggets of information and experiences to meet the financial goals. The author has intentionally shared some teachings and experiences that only rich parents impart to their kids that help them attain financial independence at an early stage in life. This gift of financial literacy later makes them wealthier and more successful.

Robert Kiyosaki also placed strong emphasis on the importance of financial literacy or financial intelligence. It is often believed by schools and parents that if a person is smart and intelligent, then he must be good with money too. Unfortunately, that is not the case. Financial intelligence is a full-fledged course in itself. It needs to be learned. The result of lack of financial intelligence is not just seen in budding entrepreneurs but is also a problem for many wealthy and successful entrepreneurs. It’s high time that schools come up with some courses on it.

If you want to make yourself financially educated, then you can read book summaries and audiobook summaries which are available on various book summaries websites

Kiyosaki offers a Rich Dad, Poor Dad overview by stating that a rich person always makes the money work for him/her rather than the other way around. He has also placed prime focus on the importance of financial independence, financial literacy, and various other types of investments. Another key point is to choose if you want to play safe, comfortable, or rich. The moment you start prioritising is when your mindset starts transforming. Shifting your focus from accepting that you can’t afford something to thinking about how you can afford it makes all the difference.

The Financial Diet by Chelsea Fagan and Lauren Ver Hage

The Financial Diet is a self-improvement book and will come in handy if you lack the money management skill. You must have observed that the age we live in today (digital era) has only taught us to feel inadequate about our life. It only teaches us how to spend money on maintaining an extravagant lifestyle. But what we are never taught is how to manage our personal finances or how much a person must save from their total revenue. This is where The Financial Diet by Chelsea Fagan and Lauren Ver Hage comes in handy. 

The authors Chelsea Fagan and Lauren Ver Hage have put in all the efforts to make it an interesting as well as enriching read. It works as a holy book if you are struggling to find a way to save and invest your money.

Key takeaways from The Financial Diet summary are: Work on fulfilling your long-term dreams with money that you save today. Don’t spend it on unnecessary cravings. Follow the basic 50/30/20 rule if you are still in the process of understanding financial stability. Invest the 20 percent in reliable sources and reap the benefits of your investment in future. Make sure to always keep aside some money for tragedies or emergencies.

Rich Dad’s Guide to Investing is a book inspired by Robert Kiyosaki’s real life story. He talks about his two dads- first one poor (his own dad) and the other one rich (his friend’s dad) He jots down their stories and how each one had an impact over his life. He also mentions the ways in which they carved his thoughts about money and investing. 

This book also works as a guide to attain financial independence at an early age. It is loaded with information and experiences to achieve the goals. The author has specifically shared the teachings that only rich people impart in their kids that help them become wealthier and more successful.

If you want to learn about investment techniques, then you can read audiobook summaries available on various book summaries websites.

Have you ever thought about why some people are so rich and some do not even have the means to cover basic expenses? The author explains this by stating a fact. He says 90% of people earn 10% of wealth while 10% of people own 90% of it. The reason being these 10% of people focus on making themselves financially literate. The author wants to etch financial education in the minds of budding investors. The earlier you start the journey of self-education and setting financial goals, the better! All this comes down to looking at your income and setting goals based on that income. 

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