“Money is a good servant, but a bad master” ― Francis Bacon.
Frankly speaking, this is not exactly a wake-up call. Mastering money has been a long-term goal ever since people began basic trade through the barter system as early as 6000 BC. But millennia later, in the 21st century, proper money management has become a tiring trade. UPI to crypto, stocks to bonds, and the plethora of financial options available today can be genuinely nerve-wracking.
Turn to the godfathers of the money-making multiverse to learn the ABCs of financial management. Achieve mastery over your money with these five books that can efficiently boost your financial smarts —worried about finding time to sit with a book amidst today’s hustle culture? Pick up your Kindle and read these e-books on the go from today! Read on to learn more about each of these, and how you can best utilise them to manage your money.
“When it comes to money, the only skill most people know is to work hard.” ― Robert Kiyosaki
Robert Kiyosaki presents a simplistic idea of personal finance in his most popular literary work, as he shares his learnings from his father, one of the erstwhile ‘dads’ of the title while growing up. Side by side, he presents the other side of the story as what he learns from his friend’s father, essentially the ‘rich dad’ in the name. These lessons include some simple and alarming revelations, like how one doesn’t need to earn plenty of money to become rich. He goes on to outline what assets and liabilities mean in a down-to-earth manner.
Kiyosaki has not only challenged the way millions think about money around the world but also challenged these norms. Presenting perspectives that present stark contrasts to conventional knowledge and learning, ‘Rich Dad Poor Dad’ has earned deserving popularity among financial beginners for providing in-your-face wisdom with courage. Consequently, Kiyosaki is revered by many as a passionate campaigner for financial education.
Strive to learn first and earn later;
Don’t avoid risks, instead manage them;
Spend wisely and acquire assets, not liabilities;
Pocket Pinch: ₹346.75 (Kindle Edition)
“Those who do not remember the past are condemned to repeat it.” — Benjamin Graham
American economist Benjamin Graham made his mark as a professional investor and is still regarded as the father of value investing. He began teaching the value investing at the Columbia Business School in 1928. Graham highlighted the irrationality and group thought process that most often plagues the stock market. He advised that investors should make it a point to focus on profiting from the nuances of the stock market instead of participating in it.
The investing principles he deemed ‘intelligent’ in this book continue to drive investors toward success even today. Another fascinating trivia about this book is that it found a compliment in the form of a keen recommendation from investing pioneer Warren Buffet. This effectively makes ‘The Inteligent Investor’ one of the best books on financial investing of all time. Praises apart, this is undoubtedly one of the foremost reads if you want to dive into the world of investing and land on your feet.
Never trust the market; it can be highly irrational in the short term.
Stick to a single formula for all your investments, and they’ll turn out fine.
Make long-term analyses, safeguard against losses, and don’t aim for crazy profits.
Pocket Pinch: ₹232.75 (Kindle Edition)
“He who knows he has enough is rich.” ― Vicki Robin
Vicki Robin outlines an easy plan to redefine your relationship with money in just nine steps. From tips to overcome debt to the basics of investing, ‘Your Money or Your Life’ touches upon every financial to-do under the sun. Robin advocates her signature mindfulness technique to attain mastery over your money and with it, financial freedom. This all-encompassing perspective makes it a highly important read for those just assuming control of their finances.
According to Robin, your relationship with money does not end with the bare necessities of earning and spending or savings and debts. Furthermore, your relationship with money reflects the sense of fulfilment and satisfaction you get from the rest of your relations, such as your family, community, etc. Throughout the book, the author presents several eye-openers related to money, from assessing your net worth correctly to properly investing your excess funds.
Keep track of your present earnings, as well as past expenses.
Invest your hard-earned profits to ensure they keep growing over time.
Budgeting your income and expenses helps to analyse more than just money.
Pocket Pinch: ₹425.60 (Kindle Version)
“The reason why we have never found measure of wealth. We never sought it.” ― George Clason
George S. Clason presents an edited anthology of numerous moral pamphlets in ‘The Richest Man in Babylon’ that he considers vital for financial success. Surprisingly, the collection was distributed free of cost by a few banks and insurance firms in the early years of the 1920s in America. However, this book’s advice remains important even almost a century later. The writer hit the creative bullseye by incorporating financial lessons into stories based on ancient Babylonians. This makes Clason’s compilation a timeless financial classic.
According to him, the Babylonians discovered many basic wealth-building principles about saving, investing, etc. Clason also takes a note of several contemporary writings to emphasize saving more than you spend. However, in the book, he also dictates in favour of charity, as long as those being gifted do not become dependent on this practice. He turned boring advice into a highly invigorating read about a stirring civilisation that had presumably cracked the code to financial mastery.
Always turn away from debt.
Spend below your means to save.
Focus on hard work over dumb luck.
Pocket Pinch: ₹76.95 (Kindle Edition)
“Everything has a price, but not all prices appear on labels.” ― Morgan Housel
Award-winning author Morgan Housel presents nineteen short stories in his financial brainchild, ‘The Psychology of Money’, where he takes us on a ride to cultivate the varied ways we think about money. Through this journey, he tries to help us better understand the nitty-gritty of one of the most essential arenas of modern life through a different perspective. He presents the thought process behind how you perceive money while explaining how your preconceived notions, pride, and ego can potentially affect your wealth-based decisions.
The thirst for social status, coupled with envy and other emotions, plays a controlling part in all your financial decisions. If you feel that you are stuck in a financial doldrum, made questionable decisions with your money, and lack the confidence or the know-how to build your financial portfolio, then this book is the perfect eye-opener for you. ‘The Psychology of Money’ will help you introspect and analyse your biases and provide you with steps to combat them.
Don’t be greedy; it can be your biggest financial error.
Envy can disturb your thoughts; keep it out of the money market.
Your initial experiences with money decide your financial decisions later.
Pocket Pinch: ₹178.60 (Kindle Edition)
Feeling overwhelmed? Financial management is tricky, but no one’s expecting you to take Wall Street by storm on day one! Understand where your finances are, what your investments, assets, and liabilities are, and what kind of a financial future do you desire? However, even before these intricacies, the first step is developing the habit of reading every day! Daily practice ensures that you get the time to digest the barrage of financial advice in these literary gems and that you get to practice what they preach.
Etch out a small niche of time every day for this habit and pick up your Kindle to read on the go! Financially securing your Kindle with a Handheld E-reading Devices Insurance is the wisest decision to safeguard not only your device, but also your money-managing knowledge! Stay covered for repair or replacement costs for your Kindle up to a lumpsum amount of ₹25,000. Insure not only your reading device but also your reading habit for just an annual membership fee of ₹299, only on Bajaj Markets!