Put down the trashy romance novel this weekend, and instead pick up something personal finance related. Your wallet will be the better for it, and we promise, these are some highly interesting and entertaining reads to boot.
From the book that provides a road map on how to truly become a millionaire to the book on how a few finance gurus outsmarted the last financial crisis, add these to your Labor Day reading list immediately.
1. The Next Millionaire Next Door, by Thomas J. Stanley and Sarah Stanley Fallaw
Consider this the ultimate road map on how to become a millionaire. The book breaks down a lot of misconceptions people have about millionaires. For instance, did you know that 65% of American millionaires live in homes worth less than a million dollars? Interestingly, while most millionaires have a college degree, a huge number of them did not go to a private college. This book will break apart all of your perceptions of how wealthy people actually live, while offering really useful tips on how to get there yourself.
2. Nudge, by Richard H. Thaler and Cass R Sunstein
Ever wonder why we make the decisions that we do? What the true motivators are? This fascinating book, by a Nobel Prize winner and a Harvard Law professor, draws from behavioral science research to look at why we make the decisions that we do and also how we can make better ones. Personal finance is a big part of this, and you’ll come out of this book armed with the ability to nudge yourself towards better decision making. It’s a bestseller for a reason.
3. Secrets of Six-Figure Women, by Barbara Stanny
Women now make up half of the college-educated workforce. It’s an achievement to be sure, but women still have a lot of ground to cover before that pesky glass ceiling truly shatters. In this book, financial educator and journalist Barbara Stanny breaks down the key strategies women highearners have used to get ahead. Stanny spoke to over 150 women whose earnings ranged $100,000 to $7 million to gather their insights.
4. The Big Short, by Michael Lewis
If you lived through the last financial crisis, you are going to want to pick up this book. It tells the story of the financial gurus who saw the credit bubble, bet against the banking system, and made a ton of money doing it. Not only does it break down the 2009 recession in an easy to understand way, it’s an often hilarious read about the people who saw the coming of doomsday before everyone else.
5. Broke Millennial, by Erin Lowry
Millennials aren’t exactly known for being good with their finances. But things don’t have to be that way. In Broke Millennial, learn how to go from broke to money badass. It also tackles things that most personal finance books don’t, like how to understand your relationship to money, how to tackle your student loans without losing it, and what to do when your friends spend money differently than you. You’ll be a money master in no time after reading.
Feature Image: Courtesy of Amazon