ARTICLES

Money has been, is, and always will be one of the most important things in life. It is not enough to just earn money; making that money work for you is also crucial.

This is where the importance of reading, especially from books play a humongous role. Books are not only of information, but it improves one’s skills of concentration. Like it is said that there is no better friend than books, it is truly interesting to note how one can learn from other people’s live examples.

There are quite a few great books that teach us about the nitty-gritty of personal finance and money management. Here are five of the best examples:

 Making your money work for you - Rich Dad Poor Dad

One of the greatest lessons that Rich Dad Poor Dad teaches you is that you need to make your money work for you and not work yourself for money. It stresses the importance of entrepreneurship and how that helps you to expand your financial footprint.

This is one of the most interesting financial awareness books, which narrates the story of a child learning about financial literacy through his dad and his friend’s dad and understanding the very difference between assets and liabilities; and the importance of budgeting and controlling spending in order to create wealth!

To make better sense of one of life’s most important topics - The Psychology of Money

The Psychology of Money teaches you to prioritise your feelings and needs and not to blindly chase your targets. You need to understand what you need the most, at what time and in what proportion. You also need to keep your emotions aside when thinking about money. Investing emotionally doesn't help - having a monetary plan does.

Patience and deliberation when investing - Warren Buffett Invests Like A Girl: And Why You Should Too

Warren Buffet stresses the importance of being patient when investing. Be patient, deliberate over your options, do your research, and invest. Any investment done in haste can lead to financial losses. This is the best, and one of the most profound money lessons that we learn from LouAnn Lofton’s book, Warren Buffett Invests Like A Girl: And Why You Should Too.

Taking advice, planning and saving - The Richest Man in Babylon

When you create a financial map and proceed with it, you have to have the right kind of guidance. This is why proper financial advice is so important. The advice you get helps you to understand exactly how you should plan your expenses which would allow you to make healthy savings, something that is crucial to mastering the money game.

Can’t become a millionaire overnight - The Millionaire Next Door

There is no shortcut to success and you cannot become a millionaire overnight! The road to the top is a long and tricky one and you need to stay put, be persistent and put in the hard work. You need to have the right investment goals, a good plan and a budget as these are the tools you need to become a millionaire.

Apply these smart and logical money lessons to your financial map and see your wealth grow in a healthy manner.