Student years of your life are where you set yourself up for the bigger and better things in life. It is when dreams and ideas start to take shape, and you start acting on your plans.
For me, being financially independent was and is on that list, and I know it is for many people out there.
There is no better time to learn about finances than when you are in college. You have enough time to learn about the money, which you can put to the test once you arrive in the real world and start working.
And what better way to learn the skill of personal finance than from people who have already mastered it and put together their thoughts in a book.
5 Books on Personal Finance for Students
So let’s begin with my five top book recommendations:
1.Rich Dad & Poor Dad
This book is one of the chart-topping books for anybody who has just embarked on their personal finance journey.
The thoughts in the book are inspired by the life of the author, Robert Kiyosaki. He is a known name in personal finance with his own personal finance education company, Rich Global LLC. The book compares what does the rich and the poor do differently, making the rich richer and the poor poorer.
The book draws reference from the two most influential people in his life, his father that he refers to as Poor Dad and his friend’s father, who he refers to as Rich Dad. It unfolds the underlying differences in thoughts, attitudes and actions that divide the rich from the poor while touching upon some key concepts.
The book is so appreciated that it has been translated into 51 different languages.
2. Millionaire Next Door
Written by Thomas J. Stanley, this book is also on similar lines. Though it vastly focuses on countering the myths around who we call a Millionaire.
It redefines the whole concept of what wealth means and beautifully explains that wearing brands head to toe and spending recklessly isn’t what a wealthy person is. Instead, he who lives below his means and is a bargain shopper might be one.
The book focuses on simplifying wealth and talks about how a millionaire is not who earns the most but the one who saves and invests the most.
It also shares a rock-solid framework for becoming a Millionaire that you may want to have a look at!
3. Retire Rich: Invest ₹ 40 a day
I know you are too young, and retirement has not even crossed your mind. But let me tell you, the early you start, the better will your retirement look.
P.V. Subramanyam in his book, Retire Rich: Invest ₹ 40 a day, talks about how baby steps can add up over time help you have a financially independent future. He touches upon personal finance as a whole and does a great job de-jargoning complex financial terms.
To give you a thorough understanding of concepts, he also shares case studies to explain the mechanics and details.
The best part of the book is the break down where the author mathematically proves that it is possible to retire wealthy by investing only ₹ 40 a day.
After reading the book, let me know if you are setting aside ₹ 40 a day and getting prepped for retirement.
4. Let’s Talk Money
Money is a spicy topic that people shun away from discussing openly. This book is a great friend for anybody interested in knowing about the very chased; Money.
In the book, Monika Halan does an excellent job explaining Money and guides you with concepts like cash flow, building a cushion for yourself, and all other minute details that being a student you may have missed or not realised yet.
Money Management isn’t easy at all.
Money hits your bank account and goes out of it without you having a clue of where it’s being spent. These issues often appear when you have just started working; hence it’s best to prepare yourself for money management.
5. The Intelligent Investor
The author of the book, Benjamin Graham, is probably the most famous investor of the 20th century. Warren Buffet was one of his students, which is enough to tell you that this book is a must-read.
In the book, he talks about how one should go about investing and shares the thumb rules to live by as an investor. It gives you a basic understanding of the markets to help you have a good head start for investing.
It is a very beginner-friendly book and explains the nitty-gritty of investing like margin safety, value-based investing etc.
Have you read any of these books yet? Do let me know if you have or are planning to read any of the above.
[su_note] KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing. [/su_note]
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