In today’s world there is a much greater responsibility on the individual to plan and manage their finances. Therefore there has never been a more important time to teach young people about money. I’m often asked which books about money I would recommend for young people. So, in no particular order, here are my top 5 personal favourites.
Rich Dad Poor Dad by Robert T. Kiyosaki
Rich Dad Poor Dad, the #1 Personal Finance book of all time, tells the story of Robert Kiyosaki and his two dads—his real father and the father of his best friend, his Rich Dad—and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
The Richest Man in Babylon by George S. Clason.
Countless readers have been helped by the famous “Babylonian parables,” hailed as the greatest of all inspirational works on the subject of thrift, financial planning, and personal wealth. In language as simple as that found in the Bible, these fascinating and informative stories set you on a sure path to prosperity and its accompanying joys. Acclaimed as a modern-day classic, this celebrated best-seller offers an understanding of—and a solution to—your personal financial problems that will guide you through a lifetime. This is the book that holds the secrets to keeping your money—and making more.
The lessons in The One Minute Millionaire are not just about becoming a millionaire–they are about how to ethically make, keep, and share your wealth. Whether your goal is less than a million dollars or that amount many times over, there’s never been a better time to achieve abundance. In these turbulent times, these lessons will show you how to recover from financial loss and rebound with renewed enthusiasm into financial security and prosperity.
I particularly enjoyed the way the book is in two parts, one non-fiction and the other a story which applies the principles in a creative way.
This book aims to take the mystery out of wealth building with a 12-step approach that can be used by anyone to turn the money they have into the wealth they want. The book emphasises the importance of applying the correct sequence and from starting from wherever you are. Known as the Millionaire Maker, Loral Langemeier has brought financial independence to thousands of her loyal followers. Truly a force of nature, she reaches these people through her seminars, radio interviews, and speaking engagements.
Multiple Streams of Income by Robert G. Allen.
In “Multiple Streams of Income”, best-selling author Robert Allen presents ten revolutionary new methods for generating over $100,000 a year – many on a part-time basis, working from your home, using little or none of your own money. For this book, Allen researched hundreds of income-producing opportunities and narrowed them down to ten sure fire moneymakers anyone can profit from. This revised edition includes a new chapter on a cutting-edge investing technique.
It’s interesting that all of these books are American. Perhaps money and wealth are more talked about topics in the States or maybe I’ve yet to read some great books by UK authors. Please let me know your thoughts. Do you agree with my choices or are there others you would include?