Book about money

[MasterD]

Can anyone recommend a great book about how to think about money, how to manage/invest it and the fundamentals of creating lasting wealth?

[RT Wolf]

All of that in one book is a tough call. I presonally really liked Your Money or Your Life and I Will Teach You To Be Rich for thinking about money. I really like the idea of "earn more than you spend" vs the standard "spend less than you earn". In terms of an abundance mindset, have a look at this:

The Definitive Guide to the Abundance Mindset - What is Value? | Mind-Manual

In terms of how to manage it/invest it. You shoudl get a book that's a good overview. In terms of investing, I'm partial to investing in myself (really high returns there), in my own entrepreneurial ventures and in stocks as a value investing style, similar to Warren Buffett. So, I'd suggest you pick up a good overview book like say Peter Lynch's One Up on Wall Street, and a book on value investing, such as Joel Greenblatt's books, easy to read, including Magic Formula investing or whatever, very short.

Creating lasting wealth depends on your definition of what wealth is, is it lots and lots of cash? Is it large and consistent income? How long do you want it to last for?

[TaylorLord]

Dave Ramsey has some really good books on how to manage money. Most of his teaching are based on not using credit cards and trying to use cash for everything! I would check him out he's even got a national radio show and TV show.

[James81]

The Total Money Makeover by Dave Ramsey

[SimonaRich]

Think And Grow Rich by Napoleon Hill - READ ONLINE

The Science of Getting Rich by Wallace D. Wattles - READ ONLINE

Rich Dad, Poor Dad by Robert Kiyosaki

[MasterD]

Thanks for the replies. As an addition to what I did not mention in the post; I am looking for a more technical approach to managing money. Books like Rich dad, poor dad are cool, but I am looking for a book that is targeted more towards an audience of people with a college degree.

Is there any book that has the quality of "Getting Things Done" by David Allen, but for managing money? I can imagine this 'book' could be really short and may only be a long chapter as part of a bigger book.

I will check out the titles mentioned here, btw, thanks for the suggestions.

[RT Wolf]

You mean something like this? Getting Finances Done



If you're looking for the nuts and bolts, have a look at different money blogs, like I Will Teach You To Be Rich or The Simple Dollar or Get Rich Slowly or Free Money Finance. Bounce around a bunch of those to see which one appeals to you and works for you. There are some blogs by people located in your city which is really helpful to find local deals and opportunities. There's a number of blogs written by people who are working their way out of debt (if that's your position), while others are paying off student loans or wedding loans, or saving for a wedding. Others, like FMF and I will teach you to be rich are more about making more money (and heavily charity-based, too!). Simple Dollar and Get Rich Slowly are more frugality blogs about saving money if you're into that.

At the least, learn about basic ways to save money that are fast and easy. If you're in Canada, RedFlagDeals.com: Canadian Deals, Free Coupons and Freebies! Canada's Largest Bargain Shopping Community is the #1 source pretty much, combined with shopbot.ca and greatcanadianrebates.ca, you can save hundreds of dollars in a few minutes off retail prices.

About making more money, that's a different issue. Personally I like Brian Tracy's books, as well as Dan Kennedy's books. While Kennedy's books are technically about businesses, he has a heavy personal-entrepreneurship focus, and even if you're working for someone else, you are still your own boss. Pavlina wrote an article about that recently.

All of that said, you still haven't pointed out waht your goals are or what you're focusing on, so I'm not sure if any of those resources will match what you're lookign for. Personally, I aim for hassle-free money management (so I use debit everywhere and Quicken to load the files and inspect them abuot an hour a month or so), save money on the stuff I don't care about in the least amount of time possible, and focus on increasing my income and achieving my goals. So let's start there:

What are your money-related goals, specifically and precisely? Saying you want a 50,000 income passively for the rest of your life is a fairly well defined goal. By "creating lasting wealth", do you mean you want to be a billionaire? Do you want to have non-monetary wealth like relatoinships or contacts? How about just raw skills like being able to live off the land, etc. DEFINE YOUR GOALS and we can help you find resources to get to them faster.

[MasterD]

Originally Posted by RT Wolf

You mean something like this? Getting Finances Done



If you're looking for the nuts and bolts, have a look at different money blogs, like I Will Teach You To Be Rich or The Simple Dollar or Get Rich Slowly or Free Money Finance. Bounce around a bunch of those to see which one appeals to you and works for you. There are some blogs by people located in your city which is really helpful to find local deals and opportunities. There's a number of blogs written by people who are working their way out of debt (if that's your position), while others are paying off student loans or wedding loans, or saving for a wedding. Others, like FMF and I will teach you to be rich are more about making more money (and heavily charity-based, too!). Simple Dollar and Get Rich Slowly are more frugality blogs about saving money if you're into that.

At the least, learn about basic ways to save money that are fast and easy. If you're in Canada, RedFlagDeals.com: Canadian Deals, Free Coupons and Freebies! Canada's Largest Bargain Shopping Community is the #1 source pretty much, combined with shopbot.ca and greatcanadianrebates.ca, you can save hundreds of dollars in a few minutes off retail prices.

About making more money, that's a different issue. Personally I like Brian Tracy's books, as well as Dan Kennedy's books. While Kennedy's books are technically about businesses, he has a heavy personal-entrepreneurship focus, and even if you're working for someone else, you are still your own boss. Pavlina wrote an article about that recently.

Perfect. Thank you very much.

[mustard76]

I've read a lot of books about money including most of the books recommended in this thread.

I wish had read the Richest Man in Babylon first. I'm going to gift a copy to my son when he is old enough.

Amazon.com: The Richest Man in Babylon: George S. Clason: Books