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Money Money Money!! I’ve heard it said that money makes the world go 'round. I’m not entirely sure about that, but it definitely does make our minds run around in circles sometimes doesn’t it? We’d all love to have more of it, but the pursuit of money can be draining, and even damaging to our relationships and health. No amount of money can buy happiness, but it can buy comfort and experiences, and the lack of money can definitely cause stress. Careers can be fulfilling, but also pull us away from our intrinsic values if we aren’t careful. So what does a healthy relationship with money even look like anyway? How can we make it, manage it and use it for our greatest good, and bless others while we’re at it? What on earth are we to do and think about this whole issue of money? These are 6 of the best books I have found addressing this topic. I highly recommend them all to anyone looking to find direction, and freedom from money woes.
The Millionaire Next Door by Thomas J. Stanley. Ph.D and William D. Danko, Ph.D is well summarized by its tagline : The surprising secrets of America’s wealthy. Rather than outline generic steps everyone should take to become a millionaire, the authors spotlight profiles of people who already have. They analyze the choices and lives of this illustrious group, and share what they have discovered most millionaires have in common. It may not all be what you think. The millionaires themselves may also not fit the stereotypes you would assume. For example, it turns out that most millionaires live fairly modest lifestyles. Large salaries and fancy houses are not always an accurate indication of who is wealthy, and who is not. The authors go on to provide some formulas to help you determine exactly how much your net worth ought to be. There is not a "one size fits all" answer to that question, so they assist you in walking your own path. This book will cause you to reevaluate what you thought you knew about wealth and rich people, and to see that it’s not as impossible or inaccessible as you may have believed.
The Total Money Makeover by Dave Ramsey took the world by storm a few years back, and made Dave a household name. He is known for his blunt, sometimes abrasive, style on his podcast, but whether you love him or hate him he tells the hard truth about money, and the dangers of debt in particular. The typical American household is drowning in consumer debt, and Dave’s methods are like a life raft thrown, to help people navigate out of the deep waters. Beginning with saving up a $1000.00 emergency fund, he walks you through 7 basic steps to financial security. This book is for anyone who is finally ready to take full accountability for their finances, and start making tough decisions that will ultimately lead to freedom and peace. If debt has been keeping you up at night, this book may help you sleep more soundly in the future.
Rich on Any Income by Clint Combs and James P. Christensen was originally given to me by a college professor. I was newly married, and living the poor "starving student" life. And by poor I mean that we only had about $600 a month to cover ALL expenses, including rent and food. Money was tight to say the least, but by adopting the principles in this book and setting up a comprehensive budget, we were able to get by. This was written back in the days when checks were the primary means of payment, so it uses old school language in places. But, the basic plan can be adapted, and has had such a lasting impact on me that I still operate with a similar mindset today. This is a very practical method of setting up and maintaining a budget. Some friends I have shared it with hated it actually, because it allows for no gray area. When confronted with the facts in black and white, that income doesn’t match expenses and changes need to be made, that can be painful. But, the rewards are far worth the price.
The Richest Man in Babylon by George S. Clayson was written in 1926, but the timeless principles contained within its pages are still relevant today. This book teaches through the use of parables, told by a fictional character named Arkad, who goes from being a poor scribe to becoming a rich man. He tells these stories as “cures” or advice to help others understand the ways of wealth. Each story has a moral to follow and live by. Many books about money are sterile, and chock full of facts and figures. This one is brimming with values and belief systems to help you govern your thoughts and behavior. Basic ideas like saving part of everything you earn, protecting what you earn with insurance and working hard will never go out of style. Being rich is about so much more than just earning gold and silver.
Think and Grow Rich by Napoleon Hill is another "oldie but goodie,” which examines wealth building from a psychological perspective. Hill understood that in order to become rich you must first have desire, AND also truly believe that you can achieve your goals. Exploring ideas such as persistence, imagination and the power of intention can change the entire game and process for those interested in wealth building. Since this book was published in 1937, it has shifted the dialogue in financial circles. While what we do is certainly important, what we think comes first. Our thoughts will determine the actions that ultimately lead to outcomes. It all begins in the mind. This book was ahead of its
time, and can help set you on the right mental path to reach your destination.
I have always admired Tony Robbins. I received my life coach certificate through the training program he founded with Chloe Madanes, and I have read/watched nearly everything he has published. Why? Because he is a straight shooter. He tells things like they are, even if what he has to say might be difficult for others to hear. In Money - Master the Game he outlines 7 steps to achieving financial freedom. In his characteristically optimistic and inspiring way, he offers encouragement and insight to those wishing to fully own their financial circumstances. According to Tony, 80% of wealth is psychology, and money itself only has the power you give to it. So to master money, you must first harness your personal power and master yourself. Wealth then becomes simply another tool in the creation of the life you desire, which extends far beyond just money.