5 Life-Changing Books To Teach You 5 Powerful Money Skills.

Financial literacy is an important life skill that can make a significant difference in one's financial well-being. It is a topic that is not given the attention it deserves in schools & households.

In this article, we will explore the top five financial books that will get you on the road to wealth creation.

1. The Millionaire Fastlane by MJ Demarco

Nobody wants to get rich in their old age.

Isn’t it?

But how to get wealthy at a young age in the fastest way possible?

Well, this book answers it all.

It teaches you how to accumulate wealth while you are young enough to enjoy it.

It talks about changing the mindset around accumulating wealth and starting your own profitable business.

My favorite learnings from the book

• The most important thing to getting rich is having the right mindset. If you ever catch yourself thinking that it was “luck” that caused someone to become rich, this is your main problem. Your future can be completely controlled, always. It just takes hard work, planning, and persistence.
• From paycheck to paycheck is a big problem because it makes you vulnerable and unable to react in the best way possible when unexpected negative events happen. The best way to prevent living paycheck to paycheck is to cut out all luxury items: fancy dinners, expensive cars, and any other items that give you instant gratification.

My favorite quotes from the book

• “Stop thinking about business in terms of your selfish desires, whether it’s money, dreams, or “do what you love.” Instead, chase needs, problems, pain points, service deficiencies, and emotions.”
• “Wealth is best lived in the prime of your life, not in its twilight after 40 years of 50-hour workweeks have pulverized your dreams into surrender.”

2. Richest Man in Babylon by George. S. Clason

The ancient Babylonians were the first people to discover the universal laws of prosperity. In his classic bestseller, "The Richest Man in Babylon," George S. Clason reveals their secrets for creating, growing, and preserving wealth.

My favorite story is near the end of a book, it's The Ca,eò Trader of Babylon.

"Where the determination is, the way can be found" This phrase doesn't capture the story.

Imagine being a slave in a desert, without water or food, you don't know where you are. Your master, if he finds you, will kill you. If you return to your hometown you will be assaulted by debt, this is if you can even find it.

In those desert sands, that slave saw the world through a different lens, a more active and abstract one.

When he returned to Babylon he was a changed man, he repaid all his debt (with time) and managed to become a wealthy merchant.

If there is but one thing that you can carry away from this book, be it this: Your problems don't matter, your attitude toward them matter. If you go through life with a slave soul, over-indulging in pleasures and running away from challenges your problems will devour you. If by contrast, you go through life with a free man's soul, never overindulge or shrink from work, then your problem will go away with time. It might take a whole, but you will get there, eventually.

My favorite learnings from the book

• No matter how little you earn, save at least one-tenth of what you earn
• The more you save, the better it is
• Financial education is your greatest asset. According to this book, money isn't your greatest asset. The single most powerful asset we all have is our minds. If it is trained well, it can create enormous wealth” says Kiyosaki.
• Lastly, Save, Invest & Multiply

My favorite quotes from the book

• “Gold cometh gladly and in increasing quantity to any man who will put no less than one-tenth of his earnings to create an estate for his future and that of his family.”
• “No man’s family can fully enjoy life unless they do have a plot of ground wherein children can play on the clean earth.”

3. Rich Dad Poor Dad by Robert T. Kiyosaki

This book is a classic bestseller that imparts timeless financial wisdom.

If you are a beginner who wants to learn the fundamental financial principles in the form of a story, then this book is for you. Although it doesn’t go into great detail about the specifics of investing, entrepreneurship, or running a business, Rich Dad Poor Dad does provide a very strong foundation for financial literacy.

My favorite learnings from the book

• Buy income-generating assets ( stocks, bonds, mutual funds, Real estate )
• Keep liabilities and expenses as low as possible
• Buy luxuries in the end
• Always ask, do I really need to buy this?

My favorite quote from the book

• “Money without financial intelligence is money soon gone.”
• “An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket.”

4. The Almanack Of Naval Ravikant: A Guide to Wealth and Happiness

Naval Ravikant is known as ‘The Angel Philosopher’, and this book will show you why. This is an outstanding, rich collection of actionable wisdom compiled from Naval’s Twitter feed, podcasts, essays, and interviews.

His tweets have a lot of wisdom and he has this incredible power to convey valuable insights in such simple words.

In short, it is a modern guide for getting wealth, health & happiness.

I highly recommend reading this book a few times

My favorite learnings from the book

• Naval calls wealth creation a skill that anyone can learn.
• To create wealth, you have to give society value; you have to give something that society needs but they don’t know yet.
• You’re never going to get rich renting your time.
• You should have people working for you, hold equity in a business that makes money while you’re sleeping, or make money by investing it in stocks, funds, and bonds.
• The latest type of leverage is content creation, media, and digital products.

My favorite quotes from the book

• “Doctors won’t make you healthy. Nutritionists won’t make you slim. Teachers won’t make you smart. Gurus won’t make you calm. Mentors won’t make you rich. Trainers won’t make you fit. Ultimately, you have to take responsibility. Save yourself.”
• "Earn with your mind, not your time”
• “Learn to sell. Learn to build. If you can do both, you will be unstoppable.”
• “Wealth is assets that you earn while you sleep.”

5. Psychology of money

In this book, Morgan Housel shares a series of 19 interesting stories which will help us make better financial decisions.

This book touches on important subjects of wealth creation such as compounding, savings, spending, and investing among many others.

My favorite learnings from the book

• Being rich is not equal to being wealthy.
• Compounding is the secret sauce of investing.
• The longer you can invest your funds, the better chance you have of achieving success.
• No investment is worth losing your time and sleep.
• Freedom makes you happier than money! Use your money to redeem your time.

My favorite quotes from the book

• “Money’s greatest intrinsic value and this can’t be overstated is its ability to give you control over your time.”
• “Spending money to show people how much money you have is the fastest way to have less money.”
• “Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance.”

Final Thoughts

Don’t just read these books, recommend or gift them to your loved ones & create?the blueprint for financial success in your life

Let me put the pen down here, thanks.