One of the most common New Year’s resolutions in America is to “save more money.” Unfortunately, around 80% of these resolutions are forgotten before the end of January! Changing your lifestyle isn’t something you just decide at the start of a new year; it takes commitment. To stay committed to saving money, consider building your money mindset by reading the best books.
What is a Money Mindset?
Your money mindset is how you think about your money. It is how you look at money, how often you think about it, and how you choose to use it. Building a healthy money mindset and having a good relationship with your money. It means knowing when to save or spend and what’s worth using your money for. You can learn more about your money mindset by checking out my article here.
Why do I need to read the best books to build my money mindset?
You probably already have a good foundation of what it takes to have a healthy money mindset. However, like everybody, you might need help staying in the right mindset over time. The best way to keep yourself committed over weeks, months, and years is to learn more about money. Books are a great resource for learning any skill, especially how to be good with money. In my opinion, the best books that will help build your money mindset are:
The Richest Man in Babylon by George S. Clason
This is one of my favorite financial books and an easy recommendation for beginners. You may feel intimidated when you’re starting to learn about money. However, this book gives simple yet life-changing money advice in fewer than 150 pages.
Financial Peace by Dave Ramsey
As someone who brought herself out of debt thanks to Dave Ramsey’s advice, I can’t recommend this book highly enough. Financial Peace may be a bit older than some of the books on this list, but the wisdom will always be relevant.
I Will Teach You to Be Rich by Ramit Sethi
One of the hardest parts of saving money is not having money to spend on yourself. But what if I told you that doesn’t have to be a problem? Ramit Sethi’s bestseller may blow your mind–definitely worth a read!
Clever Girl Finance by Bola Sokunbi
Unlike the other books on this list, it was written by a woman for women, and it’s genuinely a great read! Bola Sokunbi’s Clever Girl Finance is a great guide to ditching debt, saving money, and building lasting wealth.
You Are a Badass At Making Money: Master The Mindset of Wealth by Jen Sincero
Manifesting is an important part of achieving your goals. In this book, Jen Sincero uses the Law of Attraction to help you hone your mindset and master your money. It’s the real deal–check out my article on having an abundance mindset to find out more!
Broke Millennial by Erin Lowry
If you’ve got modern money problems, chances are Erin Lowry’s book has you covered. She talks about several money challenges, and how to tackle them. Some examples include how to manage student loans and how to talk about money with your partner. Her language and wit also make the book an easy read.
A Random Walk Down Wall Street by Burton G. Malkiel
Getting rich isn’t all about saving but also about investing in the right assets. This book was written by a former director of Vanguard, one of the world’s largest and most successful investing companies. Who better to learn from than one of the best minds in the business?
The Intelligent Investor by Benjamin Graham
The Intelligent Investor is one of the best books for building your money mindset. In the book, Benjamin Graham gives a deep dive into investing strategies.
However, if you’re completely new to investing, I recommend starting with a different book, like the one above. The author’s advice, while incredibly helpful, needs a bit of prior investing knowledge to appreciate fully.
The 4-Hour Workweek by Timothy Ferriss
Work smarter, not harder–that’s the core idea of this book. In The 4-Hour Workweek, Timothy Ferriss will teach you how to spend less time working while still earning the same amount! You can use this extra time to set up other side hustles and earn even more money.
Love Your Life, Not Theirs by Rachel Cruze
One scroll through your Instagram feed may make you feel like you’re missing out. This is why it feels like you’re not earning enough in the age of social media–even if you are. Rachel Cruze’s book discusses how we compare ourselves to others and how it affects our spending habits. It’s one of the best modern books about money that will help build your money mindset.
Atomic Habits by James Clear
Saving money is a habit that you have to make stick. Atomic Habits is a fantastic book that, while not focused on money, will help you build and sustain good habits. It’s worth a read, especially if you’re looking to build other good habits.
Never Split the Difference by Chris Voss
When seeking to raise your income, you may need to learn how to negotiate a raise or promotion. This book, written by a former international hostage negotiator, will teach you how to negotiate and get what you want.
How to Win Friends and Influence People by Dale Carnegie
Today, people skills are money skills. Whether you’re pitching to an investor or negotiating a raise with your boss, it helps to be liked. This almost 100-year-old book has advice that will continue to stand the test of time.
Start With Why by Simon Sinek
What sets industry pioneers apart from their competitors? They all started and stuck with their “why.” This book brings up some interesting case studies that stress the importance of staying true to your roots. While definitely more of a “big picture” book, many concepts, like sticking to your values, also apply to personal finance.
Your Money or Your Life by Vicki Robin
This book has taught readers important money skills for over 25 years. Your Money or Your Life talks about a wide range of topics, such as budgeting, investing, saving, and beating debt. It’s one of the best books for building your money mindset no matter where you are in your financial journey.
Think and Grow Rich by Napoleon Hill
Fun fact about this book: it took the author 20 years to write. Despite being almost a century old, the book talks about money concepts that are still relevant today. Millionaires and successful business people alike have touted this book as a must-read. It is undoubtedly one of the best books to help you get into the money mindset.
Where to get the best books for building your money mindset?
While buying new is always an option, you can source these books for less. Here are a few ways I’ve managed to get some of these great reads without heading straight to the bookstore.
Buy Used
There are many ways to snag second-hand books for less, ranging from Craigslist to Facebook Marketplace. Even if you buy brand new, a quick Google search can save you some extra money. Always check if you can get it used, and this is not just a tip for books!
Subscriptions
Buying brand new books one after the other can get expensive and eat up space. An eReader, like a Kindle, also costs quite a bit upfront. Instead, consider using an audiobook service like Audible. That way, you just pay a subscription fee while being able to enjoy all the books you want! That’s how you can read a dozen books for just $8.
Library
When was the last time you went to your local library? As a taxpayer, you contribute to their maintenance while also being entitled to their entire selection. The best part? There are no recurring fees or upfront costs! It never hurts to check your nearest library before buying a book–especially if you only plan to read them once.
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