Two Books to Kickstart Your Money MasteryJuly 10, 2015
On our journey to financial mastery, we’ve scoured hundred of blogs and read several excellent books that have made a huge impact on the ways we think about and handle our money. While we’ve found something useful from each of them, there are two books in particular that have made the biggest impact.
Your Money or Your Life (for how to think about money)
Before you can start making major changes to your finances, you must first learn to think differently about money and the role it plays in your life. We often think of money as just a tool that lets us buy stuff, but there’s much more to it than that. According to the authors of Your Money or Your Life, your money is the direct conversion of your time and energy into a tangible asset. Are you truly willing to convert your energy into useless junk that we tend to waste our money on?
This book presents nine ways to begin reworking your relationship with your money. It follows a path of asking yourself where you’ve been financially, where you are today, and where you can go in the future with the hopes of achieving a financially independent lifestyle. Ultimately, this book will present you with the simple question of what’s more important — your money or your life?
The Four Pillars of Investing (for what to do with your money)
Once you’ve realized how to get a better grip on your finances, you may find yourself debt free and on the path towards building wealth. But how exactly do we go about building wealth? This book provides the answer. As the author guides you through the four pillars of investing — history, theory, psychology and business — you’ll begin to have a firm understanding of what it takes to find success in the seemingly random world of stocks and bonds.
Throughout this book, you’ll gain valuable insights on topics such as the benefits of index funds, why financial advisors aren’t your friends, and why our investment instincts often do more harm than good. This is a truly classic read for the beginner and seasoned professional alike.
These are just two of our favorite personal finance books, but there are countless others that are highly influential. Which personal finance book(s) have had the biggest impact on your finances?