When we think about the best way to save money it is easy to think about having to struggle inside our homes, either shivering with the heating turned off or boiling alive with the no air conditioning. But in fact, saving money is as much about the way you think about money and your life as it is restricting your finances.
Perhaps you want to take a dream vacation or you’re contemplating setting up a business, or maybe you want money to spend on a bigger apartment. There are thousands of money management books which can help you get a handle on your finances. But with so many choices, which do you choose? Here are 3 of the best budgeting books to help you save.
1. The Richest Man in Babylon (George S. Clayson)
This book was first published in 1928. Whilst that might seem like an eternity ago – indeed this was before the Wall Street Crash or the decade long depression that defined the way future generations would think about economics – it’s lessons are timeless. It is considered one of the best personal finance books of all time.
It’s written in the style of a biblical lesson from the era of Babylon, the middle eastern city at the center of the ancient world, in modern day Iraq. The lessons are simple. Try to increase the opportunities you have to increase your money, roll back on the spending and try to find a way to get some compound interest on your savings.
2. The Simple Path to Wealth (J.L. Collins)
This book says what it does on the cover. It sets out simply what you need to earn a lot of money. It centers around letters Collins wrote to his daughter about how she can make the most from her investments.
Ultimately the book serves as a case study or life lesson that can be implemented in real life. The book is not just about financial freedom though, it’s also about how getting better at saving money can help make your life, in general, feel freer.
3. A Random Walk Down Wall Street (Burton G.Malkiel)
This book is great if you are looking to make some investment decisions but don’t know where to begin. Malkiel explains an efficient market hypothesis and offers some useful advice on how to play the Wall Street game.
The book is an investment strategy with some tried and tested techniques. Malkiel tells you how to create a strong portfolio that – over a number of years – might make you rich.
The Best Budgeting Books Will Change How You Think About Money
The best budgeting books are not the ones that give you straight up advice or a list of companies in which to invest. In fact, the most powerful books are the ones which change your mindset.
Money affects so much of our daily lives and is often the reason for our behavior in regards to budgeting and the amount we spend and earn comes down to decisions we make without thinking about it.
Want more tips? Read this article to learn how clearing out clutter can be a great way of earning some extra cash and freeing up some space.