Personal Finance Books: Are They Any Useful At All?

October 6, 2020 by Susan Paige

People who are good at managing their money are perceived as having some innate gift for personal finances. But, it’s a very rare case. Managing your finances and growing your money will inevitably require a minimum of curiosity and learning. Don’t worry! No need to become a math or financial market genius. You have to be willing to educate yourself on the subject, and for that, books on personal finances are ideal. 

The personal finance book market is booming during the last decades. Naturally, you can easily stumble upon irrelevant and poorly written just in any other book category. But, some of these personal finance books are actually very useful. It would be best if you looked for those that match your personal preferences and money issues. 

 If you can’t afford a financial advisor, these books are just a good replacement. And could be your best friend on your path towards money financial recovery. They can help you better understand how savings and investments work, how to diversify your investments, learn to manage your budget. Also, they help change your consuming habits, approach many decisions related to money, and generally improve your financial IQ —all that without bothering with complex economics terms.

 A good finance book will help you manage your finances better, change your perspective, and help you live your life with less stress. The lessons you will find in them are based on personal experiences, concrete examples, and life situations, showing you tactics and advice on achieving your financial goals, overcoming the debts, or working towards the retirement plan.

Useful Personal Finance Books Are Written On A Personal Note

 When you ask questions about handling your personal finances, the answers are mostly very vague, unspecific, and sometimes unreasonable. Many people can go a long way to tell you that you have to survive on 10% of your income and invest 90%. How impractical!

 A good finance book will help you get first-hand practical information in real-time to earn money, multiply your capital, or make a retirement plan. So, the accent is here on a “personal.” The writers who are talking about their real money problems might be more helpful than any university class. Their writing is focused on life adversities, offering concrete ways to help their readers overcome the problems.

Personal finance books help you change bad habits

 There are some important habits to get used to when it comes to handling your finances. These habits, when practiced rigorously, help you avoid debt and increase savings. While some of these habits are evergreen, others are totally dependent on your specific living circumstances. Thus, it will influence your choice of a book. 

Many people have become better managers of their finances when they consistently apply good financial habits. You can join them by investing your time reading some personal finance books and building your path to financial stability.

 Improve your financial IQ by reading personal finance books

Your financial IQ represents a combination of what you read in newspapers and blogs, what your friends tell you, and of your financial practices. An increase in your financial IQ means you’ll make better financial plans, especially during bad times, such as a pandemic. If you have a bad financial plan, you are actually accepting the debt and living on the edge. Among other reasons, a financial plan will help you to anticipate how to budget your funds for large investments and good use.

Discover new investment opportunities

Investing is a sure way to increase your capital. However, you need to make sure you understand how an investment works and what options you have before you get started. Taking advantage of an investment opportunity is always rewarding when you have the right knowledge and use the right methods.

 Final Thoughts

Some have inherent talent at making money and handling their budget. However, there are still more those who cannot properly manage money and need outside advice on investing and saving. The first step you have to take to tackle your money issues is to educate yourself. Personal finance books are ideal for learning essential money management. They are also good at getting a better grasp of changing our over-consuming practices, becoming more reasonable with our expenses, and changing our harmful financial habits and attitudes.

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