Skip the Library! 5 Must Read Financial Books You Need To Own

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Repeat after me: I am always improving, but today I have all the knowledge I need.

Everyone who knows me knows that I’m a big bargain hunter. My motto is why pay for it when I can get it for free? That’s why the library and I go hand in hand. Once I decided to get serious about paying off my student loan debt and self improvement I’ve been making weekly trips to the library to find books to pique my interest for a while. I go there so much that if I’m absent for a couple of days my local librarians check in on me to make sure I’m ok. And they are always ready with new suggestions, which makes my book hunting job even easier. Sometimes, their book advice is so spot on that taking out a library book is just not enough. I need to own it.

If you are on a budget like I am, trying to pay off debt, and enjoy life at the same time, you might be hesitant to purchase a book. After all, one dollar spent on a book is a dollar taken away from your debt payoff.  However, think of these books as an investment in your future. Trust that I don’t take these suggestions lightly. The books on this list are so good that you’ll want to do more than just read them. You’ll want to highlight, dog ear, take notes and apply the tips to life –all things you can’t necessarily do when the book is borrowed from the library.

Here are five books I recommend you actually splurge on and not just borrow from the library.

Amazon doesn’t lie. Every book on this list has hundreds to thousands of reviews with more than 50 percent being positive. Sometimes a trip the library just doesn’t give a book or you justice. Some books are just too good and so life changing that you must own them.

1. The Power of Broke – If you are broke right now, you are in the perfect position to build a solid foundation. Ok, so this one isn’t exactly a financial book, but it is pretty encouraging as you read about the success stories from Daymond John and others. The book will teach you that hungry and driven is exactly what you need to hustle your way to a wealthy life. What I loved about the book were the real life examples of people making the best of the only $100 to their name. I found myself wanting to highlight these true stories when I took the book out from the library. I took this book out from the library 3 times and read it cover to cover in a matter of days each time.

2. Rich Dad, Poor Dad – This one is definitely an oldie but goodie. I actually never borrowed this one from the library. My parents gave it to me as a gift when I was 16 and I’ve reread it several times since then. There’s a reason why it has over 6,000 reviews on Amazon. It came out 21 years ago and still holds substance now. What I loved about this book was the challenge to what society considers an asset and liability. Spoiler: If you think your nice cushy house is an asset, you are in for a surprise.

3. The Millionaire Next Door – Have you ever wondered about the daily lives of millionaires? If you have, this is the book for you. The author shares with us the results of his social experiment analyzing the lifestyle choices of Underaccumulators of Wealth (UAW) and Prodigious Accumulators of Wealth (PAW). The book provides insight in the decision making of the wealth as it pertains to car shopping, education and even caring for children. There is something for everyone to take away from this book; especially if you are looking for a reason to embrace the frugal lifestyle. Amazon reviews don’t lie. There’s nearly 2,000 of them and a majority are positive. I’ve read this one twice and each time I find a new tidbit I never noticed before.

4. The One Week Budget – If you haven’t heard of Tiffany “Budgetnista” Aliche yet, you are missing out. The Budgetnista is the queen of all things financial advice and money management. She lost her job, foreclosed on a house and moved back in with her parents years ago and has since found herself a thriving career that’s landed her TV Spots on the Real, Good Morning America and more. And that all started with this book. I had the pleasure of going out to eat with Tiffany before she was known around the world and she is a sweetheart which is clearly reflected in the book. Budgeting isn’t really fun to most people but this book truly breaks it down in a painless way and even includes worksheets. Don’t believe me? Just read the reviews for it here. I wish I could say I still read this book, but unfortunately I made the mistake of loaning it out and never got it back. Perhaps it’s a testament to how good this one is. Guess, it’s just time for me to repurchase.

5. You Are A Badass at Making Money – While the other books on this list discus money habits, this book is different in that it discusses your habitual thoughts about money. For example, if you are the type to see a wealthy 18 year old driving a BMW and think “What a spoiled teenager,” instead of, “That’s great. I wonder what she does for living,” you are less likely to be wealthy because you attribute negative feelings and thoughts to those who are wealthy.  Did you know that? Furthermore, it reinforces the idea that if you believe that money is everywhere and you attract money it will eventually happen. And of course, make sure you practice your money mantras. You can find it here. 

Have you read any of these books? Are there any books you can suggest that are so good that you borrowing from the library just isn’t enough?

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