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Over the years, I have read countless books on money, wealth, business, success, entrepreneurship, and more of the same. Some books are kind of a ‘flash in the pan’ – where the concepts and ideas seem cool at the time and the writer tells a good story. But they don’t always stick as ‘must-read multiple times’, life-changing type books. Some of the best books on money mindset are books that you will want to read over and over again.
All of the books listed below fit that description and I have personally read more than one of these books multiple times. These really are the best books on money mindset that I have come across over the past 2 decades. I’ve read several other money mindset and wealth-building books that were great. But, these are the books I am definitely going to force my kids to read before they become adults and leave my house. Check em out…
The Top 5 Best Books on Money Mindset
Reading books about money is not just for people who want to start a business. It is for anyone that wants to improve their life. This list of books can help you achieve a more positive relationship with money, understanding of what it is and how to use it.
One of the best ways to live a better life is by learning how to manage your money. It is important to educate yourself with books that talk about the different aspects of money and its mindset.
It is important to understand that while some people have a strong money mindset others do not. These 5 books will change your view on money and help you get out of a scarcity mentality.
1. Rich Dad Poor Dad
Robert Kiyosaki, an entrepreneur, investor, and author of Rich Dad Poor Dad, advocates that to be rich it’s not about how much money one earns. It’s about investing in oneself and creating assets that can generate income.
This book has been instrumental in changing the way people think of how they manage their financial resources. Kiyosaki believes that the traditional teaching of finances to students is wrong. He argues that “the rich don’t work for money.” Instead, they encourage people to have multiple streams of income and not to spend all their money on things they don’t need.
This book is all about the difference between working hard for money and having money work hard for you.
2. Think & Grow Rich
Think and Grow Rich is a book by Napoleon Hill which was published in 1937. It is one of the best-selling books of all time and has been translated into more than 20 languages. It teaches readers how to increase their personal worth, live a life of success, and achieve big goals.
The book is based on an idea that Hill learned as a young man studying under American business tycoon, Andrew Carnegie. Carnegie had one main principle that he lived by: “He who can sell anything will be eventually king”.
In the book, Hill stresses that an individual should focus on what they want to achieve to make sure they are not wasting time on things that they are not even interested in.
“The psychology of achievement is the study of personal motivation, a field that is concerned with identifying both external and internal factors that influence behavior.”
For more than twenty years, Napoleon Hill researched the subject, interviewing over 500 successful men including Henry Ford, John D. Rockefeller and J.P. Morgan. His goal was to discover what it was that made these people so successful and how they did it. He then organized his findings into what he called the thirteen principles of success.
3. The Richest Man in Babylon
The Richest Man in Babylon is a timeless classic written by George Samuel Clason. The story revolves around the life of a Babylonian trader and his journey to becoming rich and wealthy.
The Richest Man in Babylon is a motivational book about the importance of saving and taking care of money. Clason’s goal for the book was to teach readers how to live a simple and happily life by providing them with information on how to get out of debt and become wealthy.
This book is a personal finance book written from the point of view of a fictitious Babylonian character known as The Richest Man in Babylon. The Richest Man in Babylon tells the story of two friends, one who became wealthy and one who did not. The narrator explains to the friend how he can become wealthy and avoid all those pitfalls that come with greed, natural disaster, or poor choices.
The most important lesson from this book is that wealth is not just about accumulating money but about experiences, health, and how you feel.
4. The Millionaire Next Door
Tom Stanley and William Danko conducted a study of the common traits that millionaires share. They interviewed, researched, and studied over one thousand millionaires.
They found out that millionaires are not born with silver spoons in their mouths; they are people like you and me who have tackled life’s challenges head on. They have the right attitudes about money and work hard to get ahead.
The book, “The Millionaire Next Door” was published in 1996. The authors found that most millionaires are frugal people who live well below their means.
The millionaire next door is not the flashy person with the huge mortgage or fancy car. But they are the ones who live within their means and invest wisely.
The book identifies seven common traits shared by all the millionaires they interviewed.
- They live well below their means
- They focus on the goals that will make them wealthy, not on what they need to buy or do to get rich.
- They believe that financial independence is more important than displaying it
- They are highly involved in their community
- They are lucky in love
- They are focused on what’s inside of them
- They have family and friends who provide social support
5. The Automatic Millionaire
The Automatic Millionaire is a book written by David Bach that aims to show people how to save money and build wealth. The book is structured into three steps that can be followed in sequence or as needed depending on the person’s financial situation.
The first step, “Pay Yourself First,” involves setting up an automatic deduction of 10% of income into a retirement account. This reduces the risk of putting off saving for retirement until later in life. The second step, “Invest Your Savings,” is about investing any additional income or money saved from increasing one’s expenditures at work. This includes investing in retirement accounts, stocks and bonds, CDs and mutual funds among other options. The final step of the exercise is to live on what is left over from the first two.
In this book, he stresses the importance of building passive income streams through diversification and automated income streams through investments.
He also mentions that it is important to have an emergency fund that will last at least one year, and avoid taking on consumer debt as much as possible.
Conclusion: Read These 5 Books to Succeed in Whatever You Do
Again, this is just a short list of some of the most popular and best books about money mindset of all time. There are many more phenomenal books in this category – but these are some of the best that have stood the test of time. I’ve personally read #1, Rich Dad Poor Dad, many times and I will continue to read it throughout my life.
Owning and reading these best money mindset books will certainly lead to success not only financially – but in other areas of your life as well. Almost all aspects of life are somehow connected to money and the authors of these books lay out their cases so well. Each book is different – yet highly valuable in its own unique way. Do yourself a favor – and pick up one of these books today! Read it and then continue down your own personal path to success and happiness.
Matthew Allen is a full-time trucker, part-time blogger, and imaginary entrepreneur. He is the only known trucker who is blogging about creating passive income online. He is also the co-founder and co-creator of the most popular WordPress plugin for Amazon affiliates – AmaLinks Pro.