Finance/Money Books


Increasing your financial knowledge (your financial IQ) will open up new worlds of financial possibility to you. As your confidence and knowledge grow, you can integrate new avenues of earning and investing you may not have been aware of before. As you learn about how money really works, you will see the errors you have been making and be able to correct them.

Remember as you learn that this is not your fault; our school systems do an abysmal job of preparing us to survivie financially, let alone thrive.

“The main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money…but never learn to have money work for them.”
~ Robert Kiyosaki, Author of Rich Dad, Poor Dad

Let’s change that, and educate ourselves and our children!

INVESTING

moneyStock Market: Participating in the stock market means getting involved with corporations which trade publicly. This means that the companies available to invest in put out detailed financial information which we can study and analyse, and then choose to invest in a company by purchasing shares (portions) or rights to shares (such as options).

While many people make money in the stock market, many more do not, and it is this statistic which scares people away. Participating in the growth and success of companies, however, is one of the surest ways to wealth; the key is education. In this vein, we offer you resources so you can educate yourself as to the workings of the stock market. While it is a complex and exciting world, understanding the basics isn’t difficult, and will allow you to be an informed consumer.

NOTE: I have left out more complex subjects such as options, however as your financial sophistication grows, you may wish to investigate such alternatives as being complementary to your portfolio, for a more aggressive and balanced form of investing.

houseReal Estate: Real Estate investing is a very large subject involving a myriad of tactics, such as flipping houses for profit, becoming a landlord or property manager, land division and conversion, and commercial property investment, to name a few. Of course there are many books which attempt to address the basics, and you will be able to expand upon this collection by looking at bookstores and your local library. Some of those which are capable of having immediate and lasting impact have been included here.

commodities Commodities: The exciting world of commodities involves investing, either directly or indirectly, in ‘real’ goods; the goods we all need to survive from day to day, such as grains and other foodstuffs, and the goods we find valuable, such as gold, oil and other minerals. According to legendary billionaire investor and renowned commodities expert Jim Rogers, the world of commodities gets a ‘bad rap’ in that people have been led to believe it is a difficult subject to grasp. Jim tells us that because commodities deal in goods we are familiar with, it is in many ways more intuitive and easy to understand than other forms of investing. I’ve included a very short list of books here; if you feel the urge to explore this option, you will surely find many books and other resources locally.

currency Currency: Also known as foreign exchange or FOREX, this is a subject which has garnered much attention in the last few years. As in stocks, many people get excited about the potential for creating wealth that currency trading offers, but few follow the disciplined approach to learning and trading required to be successful. I personally know people who have made over $50k in one month trading currencies. In every case, each swears that it’s the discipline that is most difficult; it’s easy to second-guess your own established rules, and in doing so let emotion ruin what should be a strictly pre-planned process.

There are also many ’scams’ proliferating on the internet; sales sites which promise an unbeatable system, or guaranteed results. Knowing that nothing is guaranteed, you can approach your learning and trading experience with caution, discipline and growing knowledge, and enjoy success.

WEALTH MENTALITY

Take heed: your beliefs and thoughts about what it means to have money and whether it is a ‘good’ thing or not make an enormous, unseen (but very much felt) difference in your financial circumstances. All of us have deep-seated beliefs about money, many of which were formed as part of our conditioning as children, by parents, teachers, media and other influences.

Without working through and improving your mindset when it comes to money, the knowledge you are gaining will do you little good. You must question your assumptions and examine your beliefs in order to create outward change. Purge your subconscious of beliefs which do not serve you in your quest for financial freedom, and let your finances take off!

NOTE: Instead of rating these books against each other, I have instead only included those that are well worth reading, impactful and potentially life-altering in their content. All of these books have been instrumental in helping me, personally, overcome financial obstacles and transform my mindset. I consider each of these authors as a personal mentor, and I thank them for the changes they’ve encouraged in my life. Let them do the same for you - it’s incredible what we can do when we keep our minds open and learn from those who have come before us on the path to wealth.

FINANCE BOOK REVIEWS