In a survey conducted by S&P Global FinLit, it shows that only 57% of the adults in the United States are financially literate. It is important to note that financial literacy is critical in the financial growth of the country in general. On a more specific note, a Fidelity study was conducted and it shows that 39% of millenials worry about their financial future. Individuals must act upon these worries and capitalize on it to develop better financial habits and practices. If you are someone who would like to make your finances better, here are the top four best books to read in order to start your financial journey the right way.
1) The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey
The author being a financial teacher and counselor for 20 years sums up his thoughts and ideas about this topic into 7 organized, easy-to-follow steps that help you get through a terrible financial situation or even make your stable situation become better. In addition, you will also read real-life stories of 50 individuals who followed the principles shared by the author which results to their financial success. No matter how old you are or what your background is, this book is easy to understand.
2) The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich by David Bach
A lot will ask what the secret to being rich is, while there are tons of ideas that pops out, most of it would involve a budget or would encourage people to earn more. In this book by Dave Ramsey, you will find out that the secret to being rich is not about budget but about having a practical and realistic plan for your finances.
3) Your Money or Your Life by Vicki Robin
This book is helpful to people who would like to find the balance between earning and spending. The author will teach you how to get out of a debt situation and develop savings but unlike any other financial books, Robin teaches her readers how to save money through mindfulness and good habits but not strict budgeting.
4) I Will Teach You To Be Rich by Ramit Sethi
As someone in the age between 20 to 35 years old, you would like to be properly guided by a program created by someone who knows best. This book by Ramit Sathi is all about that and more, the books is all about the four pillars of personal finance – banking, saving, budgeting, and investing. This is all about the practicality of financial finance rather than some theory that haven’t been tested.
These books are sure to help you get your financial journey started and become a more responsible person who takes your financial situation into a better track and not worry about your financial situation.