Making money is a skill and you can learn the skill by applying the best strategies that work. In this, you will get the best books on making money and that doesn’t mean you will able to make money by reading these.
Many successful people do something unique and workable that works for them and they write their learnings and lessons learned over time. You can read those books to understand the science and art of making money.
You will understand how money works. You can read the best economics books to understand the economy and how money circulates.
The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Morgan Housel the author of the book explains money and the psychology behind money and human behavior towards it. The book also tells you how you can spend and invest money and develop a healthy relationship with your money.
The book offers you many examples related to money and provides better financial knowledge.
It doesn’t matter how much money you make, it’s important how you should retain your money.
Important Lessons from the book:
- Getting rich is not the same as staying rich: The author explains why it’s important to stay wealthy and how you can build sustainable wealth.
- Invest in yourself: As the great investor Warren Buffet also says, you should make the most important investment by investing in your skills, learning, and personal development.
- Become adaptable and flexible in any financial circumstances.
Some Quotes from the Book:
- “The highest form of wealth is the ability to wake up every morning and say, ‘I can do whatever I want today.'”
- “The greatest risk of investing is not volatility, but the possibility of not reaching your financial goals.”
- “Money is everywhere, but so is the opportunity to live a great life.”
I Will Teach You to Be Rich By Ramit Sethi
Ramit Sethi gives you a guide to improving your personal finances and how you can take control of your money to live happily. The book provides a guide on financial topics like savings, budgeting, investing, and how you can use your credit cards. The book has been a beautiful compilation of topics someone would need to read.
Important Lessons from the book:
- Create a system that works for you: The author recommends people automate their finances and create a system where they can easily save and invest money
- Make financial goals: You should take action towards your financial goals to build financially free.
Some Quotes from the Book:
- “There is no one-size-fits-all solution for personal finance. The key is to create a system that works for you.”
- “The biggest barrier to wealth is often our own beliefs and attitudes about money.”
- “Building wealth is not about depriving yourself, but about living a rich life on your own terms.”
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
This book should be the starting point to read any book in personal finance and the guide on how money works. The book helps you to understand the difference between the mindset, and behavior of rich and poor people. The book encourages you to take the path of entrepreneurship and create wealth for yourself.
Important Lessons from the book:
- Financial Education is key to success: The author tells us to learn about finance to achieve financial success and build wealth over time.
- Take a calculated risk: You have to take calculated risks while you are investing to grab potential opportunities.
- Rich don’t work for money, they make money work for them.
Some Quotes from the Book:
- “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.”
- “In school, we learn that mistakes are bad, and we are punished for making them. Yet, if you look at the way humans are designed to learn, we learn by making mistakes. We learn to walk by falling down. If we never fell down, we would never walk.”
- “The fear of losing money is real, but the fear of losing what money can’t buy is even more real.”
The Richest Man In Babylon
The book “The Richest Man in Babylon” is written in a parable and story format and later converted into a book and this book has been widely read across the world. The book contains a lesson about wealth creation and how you can achieve your financial knowledge. This has beautiful stories that hook you to read to the end and never get bored.
Important Lessons from the book:
- Save a small amount of money: The author of the book emphasizes saving a portion of the money to build your wealth and save from bad times.
- Control your spending: You should control your spending to save some money to invest.
- Invest Wisely: You should invest wisely your money and build long-term wealth.
Some Quotes from the Book:
- “Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.”
- “Money is plentiful for those who understand the simple laws which govern its acquisition.”
- “Opportunity is a haughty goddess who wastes no time with those who are unprepared.”
The Simple Path to Wealth: Your road map to financial independence and a rich, free life
The Simple Path to Wealth is a book about financial stability and how you can gain financial freedom. This book really simplifies the approach toward personal finance and gives more weight to investing in low-cost index funds, minimizing debt, and the road to achieving your financial independence.
Important Lessons from the book:
- Invest in low-cost index funds: This book emphasizes low-cost index funds and using that how you can build your wealth.
- Avoid Debt: Debt is the wall behind the wealth you have to break to gain wealth, and this book tells how you can be debt-free.
- Live Below Your Mean: In a status-driven world where people want attention over wealth, the author tells us to be free and live below our means to control our cash flow.
Some Quotes from the Book:
- “The stock market is a device for transferring money from the impatient to the patient.”
- “The beauty of simplicity is that it is, well, simple.”
- “The simple path to wealth is paved with two stones: live below your means and invest early and often.”
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
This book has a special upbringing of customizing your relationship with money and gaining financial freedom. This book also takes an approach toward your investing habits and offers some practical tools and techniques for achieving your financial knowledge such as tracking expenses and how you can plan your savings and investments.
Important Lessons from the book:
- Align your spending with your value: The authors of the book believe that one’s true value is determined by how they are spending and their priorities and goals.
- Track Your Expense: This book tells us to track all our expenses look at our spending habits and see how we can balance out or minimize or cut our expenses.
- Have a savings plan: It’s important to have a savings plan and this book explains and tells how you can do that.
Some Quotes from the Book:
- “Money is something we choose to trade our life energy for.”
- “The way you spend your time is the way you spend your life. The way you spend your money is the way you vote on what matters to you.”
- “Financial independence is not a retirement plan based on saving and investing. It is a lifestyle.”
How to Get Rich: One of the World’s Greatest Entrepreneurs Shares His Secrets
Felix Dennis was an entrepreneur and publisher who became a multimillionaire through his publishing company, Dennis Publishing. He has also written some books on personal finance and entrepreneurship and one of the books is “How to Get Rich”. The author shares his experience on wealth building, risk-taking, hard work, and persistence to grow and have wealth in life. He shares his own journey of starting and growing a successful business.
Important Lessons from the book:
- Focus on Creating Value: Dennis advised in the book about creating value and how you will make money.
- Be persistent: The author emphasizes the importance of persistence and tells us—we will have to work a long time to get wealth in our lives.
- Taking Calculated Risk: You have to take risks to make something impactful.
Some Quotes from the Book:
- “If you want to get rich, you have to do something that other people are not willing to do.”
- “Success is not about having everything, but about enjoying everything you have.”
- “The most important asset you can have is not money, but the ability to generate wealth.”
The Total Money Makeover: A Proven Plan for Financial Fitness By Dave Ramsay
Dave Ramsay, the author of the book tells us about the “baby steps” plan in this book which consists of seven steps to creating financial freedom. it also emphasizes living below your means, eliminating debt, and building an emergency fund.
Important Lessons from the book:
- Live below your means: The author tells you to avoid unnecessary expenses and live below your means to create financial freedom in your life.
- Eliminate debt: Become debt-free
- Building an emergency fund: Ramsay advises in the book to create an emergency fund to cover unexpected expenses, avoid debt, and maintain your cash flow.
Some Quotes from the Book:
- “If you will live like no one else, later you can live like no one else.”
- “Debt is dumb. Cash is king.”
- “The only way to financial peace is to walk daily with the Prince of Peace, Christ Jesus.”
The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime
The Millionaire Fastlane tells us about two types of where you can create wealth, First, “Slowlane ”, which is a slow and ineffective way of building wealth, and second, “Fastlane”, where you will have different approaches to creating wealth. This book gives a broad view of different types of ways where you can create a way.
Important Lessons from the book:
- Building a business: The key to creating your wealth quickly is through building a successful business.
- Have a “Fastlane” Mindset: It encourages you to have a mindset where you can innovate new things and pave the way toward entrepreneurship.
- Focus on creating value: In order to create wealth, you have to create value for other people.
Some Quotes from the Book:
- “The formula for wealth is simple: create value for others.”
- “When you produce, you receive. When you don’t produce, you don’t receive.”
- “You don’t have to be great to start, but you have to start to be great.”
Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life
Richer, Wisher, Happier is a personal finance and investment book that explores the lives and investment strategies of most successful investors like Warren Buffett, Charlie Munger, Joel Greenblatt, and others.
The book is divided into 3 parts: “Richer”, which tells us about personal finance and strategies and the thinking and philosophies of the greatest investors, “Wiser”, which tells us about the life lessons from those investors and then “Happier”, which focuses on how you can balance your personal and professional life.
Important Lesson from the book:
- Focus on long-term investing: This book tells us about long-term investing and avoiding short-term thinking.
- Know the value of investing.
- Know how to balance your work and personal life.
Some Quotes from the Book:
- “Investing is a game of probabilities, not certainties.”
- “The key to successful investing is to focus on what you can control and ignore what you can’t control.”
- “The most successful investors are not just intelligent, but also have an intense curiosity and a love of learning.”
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
This book focuses on your mindset and developing your mindset, like in investing plays an important role. The author argues if you want to be wealthy then you have to have a “Millionaire mindset” that is focused on positive thinking and having success in your life.
Important Lesson from the book:
- Improve your mindset: You have to develop a better mindset to get going and become successful in your life.
- Have Positive Thinking: You have to have a positive thinking attitude and a positive personality.
- Take Action: Everything is useless if you are not taking action and the author of the book is trying to tell you that you have to take action if you want to make your dreams to reality.
Some Quotes from the Book:
- “Your income can only grow to the extent that you do.”
- “The biggest obstacle to wealth is fear. People are afraid to think big, but if you think small, you’ll only achieve small things.”
- “The only limit to your success is the size of your thinking.”
The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
Naval Ravikant is an entrepreneur, and investor, whom I truly admire. He is the founder of angel list, where you can connect startups to investors.
Naval also made many successful investments like Twitter and Uber. He has been sharing his ideas, thoughts, and insights on different topics on his Twitter, and from all the compilation of the ideas of the Naval, this book is the result.
It’s one of the books that will change your thoughts on different topics like wealth, happiness, success, and personal growth.
Important Lesson from the book:
- Focus on creating wealth: Naval talks about how you can leverage yourself to create wealth and live a meaningful happy life.
- Learn to Tame your Mind: It’s one of the key factors to becoming happy in life and Naval talks about how you can tame your mind.
- Build your personal brand: Create your personal brand where you can leverage yourself by getting experts in your field.
Some Quotes from the Book:
- “Happiness is a choice that you make and a skill that you develop.”
- “The real trick to getting wealthy is not just to focus on your income, but to focus on your savings rate.”
- “The more you produce, the more you can consume. But the more you consume, the less you can produce.”
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
This book is based on a study conducted by the authors, in which they analyzed the habits and behaviors of millionaires in the United States. This book gives advice on getting wealthy through hard work and smart investing.
Important Lesson from the book:
- Live Below You Mean: According to authors the key ingredient to getting wealthy is living below your means and saving a significant portion of your money to invest.
- Invest Wisely: The book tells us about the most successful investors who have diversified and long-term investments.
- Entrepreneurship is not a requirement: You have to be an entrepreneur to be a financial success.
Some Quotes from the Book:
- “The foundation stone of wealth accumulation is defense, and this defense should be anchored by budgeting and planning.”
- “If you want to be rich, stop acting like you’re broke.”
- “The millionaire next door looks like a regular person, but under the surface, they are completely different from the average American.”
Think and Grow Rich By Napoleon Hill
This book is based on the study by which the author of the book, Napoleon Hill takes the most successful people like Andrew Carnegie, Henry Ford, and Thomas Edison to tell people how they can achieve the same in their life. This book has sold millions of copies worldwide and is considered a classic of personal development. You can take lessons from authors’ years of studying successful people.
Important Lesson from the book:
- The Power of Thoughts: You have to think and have a positive mindset toward achieving success.
- Goal Setting: You have to set clear, specific goals and work towards them with persistence and determination.
- Become Persistence: Persistence is the key to achieving success in your life.
Some Quotes from the Book:
- “Whatever the mind can conceive and believe, it can achieve.”
- “Strength and growth come only through continuous effort and struggle.”
- “Every adversity, every failure, every heartache carries with it the seed of an equal or greater benefit.”
The Millennial Money Fix: What You Need to Know About Budgeting, Debt, and Finding Financial Freedom
This book tells us about millennials and how they should manage their money, pay debt and achieve financial independence in their life. If you are in your 20s then this is the book where you will get all your answers and most of the benefits.
Important Lesson from the book:
- Start early: The author stresses the importance of starting to save and invest early in your life.
- Live Below your means: In your 20s you have to avoid a fancy lifestyle and live below your means.
- Get educated: You have to get educated about personal finance and investing.
Some Quotes from the Book:
- “Investing is not just about putting money into something and hoping it grows. It’s about understanding how money works and making informed decisions with your hard-earned cash.”
- “The only way to get out of debt and stay out of debt is to make a plan and stick to it.”
- “The key to financial success is not about making more money, it’s about managing the money you have.”
Let’s Talk Money: You’ve Worked Hard for It, Now Make It Work for You By Monika Halan
The author of Monika Halan gives practical advice on how to manage money, invest wisely, and achieve financial independence in your life. This is the only Indian book and has focused on Indian readers but everyone can read it, the principles apply to all.
Important Lesson from the book:
- Know your money: The author tells us about understanding your personal finances, your income, and expense and making better decisions with your money.
- Start Investing Early: The author tries to explain the power of compounding over time.
- Diversify your investments: You have to diversify your asset classes in order to manage risk and get maximum returns.
Some Quotes from the Book:
- “Money is not just about numbers, it’s about emotions, aspirations, and the life you want to lead.”
- “Investing is not about chasing returns, it’s about creating wealth over the long term.”
- “The key to financial independence is not about how much you earn, it’s about how much you save and invest.”
The Barefoot Investor By Scott Pape
The Barefoot Investor is a personal finance book published in 2016. This book gives a comprehensive guide on how to manage money, how to pay debts and achieve financial independence.
Important Lesson from the book:
- Automate your finances: you should automate all your finances and all your spending towards online subscriptions, investments, or paying bills.
- Live below your means: You have to manage your expenses by buying what you need and cutting off unnecessary expenses.
- Invest in low-cost index funds: The author gives the advice to invest in low-cost index funds rather than managed funds to avoid expenses and have better returns.
Some Quotes from the Book:
- “The only person who cares about your money as much as you do is you.”
- “Money is a tool that can help you live your best life, but it’s not the end goal.”
- “Investing is not about picking individual stocks or timing the market, it’s about investing in the future and having faith in the long-term growth of the economy.”
The Bitcoin Standard: The Decentralized Alternative to Central Banking
The Bitcoin Standard is authored by economist and assistant professor Saifedean Ammous. The book tells us about the historical context of Bitcoin, its economic impact, and how it changed the economy and banks.
Important Lesson from the book:
- Bitcoin is better: Bitcoin is better because you can be scarce, durable, divisible, and difficult to counterfeit, which makes it difficult for inflation and government manipulation.
Some Quotes from the Book:
- “Bitcoin represents a fundamental redesign of money that will transcend borders and ideologies.”
- “Central banking has failed to deliver on its promise of economic stability and has instead created a system of boom and bust cycles.”
- “Bitcoin is a peaceful revolution against the tyranny of central banking and government control.”
Money: Master the Game: 7 Simple Steps to Financial Freedom By Tony Robbins
In this book, the author Tony Robbins gives guides on personal finance and how you can achieve financial freedom and security.
He mentioned some of the strategies and insights from the world’s most successful investors and financial experts.
He in his book gives a step-by-step plan for building your wealth, managing debt, and achieving financial success.
Important Lesson from the book:
- Make smaller goals: You should make smaller goals to be able to achieve and manage while you invest.
- Focus on building your skills: You should focus on ways to add value to your life and increase your earning potential and build long-term wealth.
- Don’t lose money: You should manage your risk and focus on avoiding losses rather than aiming for high returns.
Some Quotes from the Book:
- “It’s not what we do once in a while that shapes our lives. It’s what we do consistently.”
- “If you don’t set a baseline standard for what you’ll accept in life, you’ll find it’s easy to slip into behaviors and attitudes or a quality of life that’s far below what you deserve.”
- “Remember: we all get what we tolerate. So stop tolerating excuses within yourself, limiting beliefs of the past, or half-assed or fearful states.”
Final Thoughts:
Every book in the list has the idea of creating wealth, building a business, avoiding debt, and all that investment advice. Every book has to offer something different but the ingredients are the same you can read these books to get yourself the ideas of getting money.
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