Why should you read books about investing and money management if you have no money to invest or manage?
It seems a little silly to read about investing when you’re lucky enough to be able to build a basic emergency fund or maybe even pay off consumer debt.
Here is why you should do it anyways: So you can prepare yourself for the future.
Am I so convinced that investing will someday be in your future? Yes. Yes, I am.
Why? Because you are already reading this blog. If you are taking the time to read an article about personal finance that means that you are interested in actually taking control of your finance. Now, I may be naïve or hopelessly optimistic, but I believe that one day, we (and I include myself in that) will one day be in a better position financially than I am today. It may be soon, it may be in 50 years, it may be after I have some lower points in my financial roller coaster. But that day will come. And when it comes, I will be ready and prepared! That’s just the type of person I am.
Just like I encourage you to be ready for when times get worse (by saving NOW and building a robust emergency fund) I encourage you to be ready for when times get better.
If doing that involves reading some books, then by all means: Let’s do it!
I would not be worth my salt as a personal finance blogger if I didn’t recommend that you check these books out of the library first. Libraries are awesome and a great way to get free books. You can even get e-books from the library and download them straight onto a Kindle. If you can’t get those, then definitely try to buy used. I can’t remember the last time I bought a new book! If you can, use my Amazon links to place your order. It’s a real help to me.
So I turned to the great people of #PF Twitter (That’s personal finance Twitter for the uninitiated. Follow me on Twitter and I’ll introduce you to some great folks in that community!) and I posed the following question:
“Best personal finance/investing book?”
Pretty simple question.
These are some of the responses I got:
5 Great Personal Finance and Investing Books:
Do you want to make money, or Do you just want to fool around? By John D. Spooner
(recommended by @SmallIvy_SI)
(recommended by @ShelbyGrosch)
Think and Grow Rich by Napoleon Hill
(Recommended by @10YearTarget)
(Recommended by @kbout11)
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William D. Danko
(Recommended by @misterash13)