It’s amazing how addictive reading about good money habits can be. Here are seven books we think are a must for those of you keen to improve your financial habits.
The Barefoot Investor: The only money guide you’ll ever need
With almost 2 million copies sold, Scott Pape’s best seller is a firm favourite for its simple, step-by-step approach to improving your financial situation. It is chock full of examples from every day Australian families and completely avoids bombarding you with tips or strict budgets that overwhelm rather than help.
Smashed Avocado: How I cracked the property market and you can too.
Nicole Haddow had no financial plan, an unstable income and credit card debt. Smashed Avocado details how she turned that position into home ownership within two years. Accompanied by some great case studies and really useful details, this book is a cracker for anybody thinking home ownership is an impossible dream.
Rich Dad. Poor Dad
First written in 1997, this book by Robert Kiyosaki, explains the difference between working for your money and making your money work for you. It has sold millions of copies around the world and has been translated into several languages because it’s themes have global appeal that have stood the test of time and are just as applicable now as they were then. It has been re-released with some additions to show more recent examples of how his approach works.
Clever Girl Finance: Ditch Debt, Save Money and Build Real Wealth
What we love about this book by Bola Sukonbi is that she wrote the book she wished she had when she first started out. Written from a woman’s perspective it provides a personal finance guide for building wealth, that it is a relatable and actionable in a very real world sense.
Online Investing on the Australian Sharemarket
Roger Kinksy’s (updated 2021) guide to researching and trading shares and other securities online in Australia offers step-by-step guidance on choosing an online broker, accessing and making best use of online share investing resources, planning trades, identifying profit-making opportunities, timing of and placing online orders, managing investment risks, and much more. It’s a must have book for those looking to better understand online investment.
I will teach you to be rich
Ramit Sethi loves to pull apart pretty much every financial ‘rule’ you’ve ever read about. On the flip side, his book is an easy six-week plan for cleaning up your finances and actually having some clue about why you are doing what you are doing! This no-nonsense book has some great, practical strategies that you can implement immediately. At the very least it will give you a new perspective on spending, saving and debt.
Nudge: Improving decisions about health, wealth and happiness
Okay, this book isn’t strictly about money, but it is well worth a read regardless because what it does do is explore how the choices we make every day are influenced by biases we are not even aware of and how those biases can impact our finances, our health, our parenting and more. Written by Nobel Prize Winner Richard Thaler and Professor Cass Sunstein and based on decades of behavioural research, this book shows us how we can use ‘choice architecture’ to make better decisions for ourselves, families and communities. A great addition to your bookshelf and positive money management mindset.
Just remember that all of these books are only helpful if you actually implement the things you learn! And of course, if you’ve got any further questions, you’re welcome to talk to us here at SCCU.
Disclaimer: The ideas, discussions, options and details expressed in SCCU Blogs are for general informational purposes only and are not intended to provide specific personal advice or recommendations for any individual or on any specific security or investment product. We intended only to provide education about the financial and banking industry to make the complex simple, and help everyday customers realise their dreams.