4 books that can help you achieve financial freedom

Do you aspire to be financially free and do what it takes to accomplish this goal, yet find yourself falling short?

We have been there too, buddy! It is okay not to have everything figured out. 

Learning is limitless, and when you cannot build a successful roadmap yourself, you can learn from the experiences of those who have surpassed your situation.

Learning from your own mistakes is a way, yes, but leveraging solutions provided in books by experts is easier.

We present 4 books that can empower you financially. These are lessons straight from top leaders who created wealth, combining a money mindset with a holistic approach toward life. 

If you wish to learn more about financial freedom, check out our previous blog Be On Your Way To Financial Freedom for more about that. 

1. Psychology of Money 

The book is as interesting as its name. Written by Morgan Housel, Money Psychology decodes the ultimate mantra to be financially free. 

Financial independence and economic stability can be derailed by living an extravagant lifestyle, even in the face of piling debt. We fail to address wealth as a holistic ecosystem to not only make money but also to promote overall happiness. 

Here are our key takeaways from the book.

  1. Spend money wisely and with a plan, not just to establish a wealthy social status. Be true to yourself and map out your goals, define what freedom means to ‘you’.
  2. Growth doesn’t come for free. Spend your money with an investment mindset, in learning, in enhancing yourselves. 
  3. You can generate wealth easily. However, it takes self-control to stay wealthy. Be watchful of your spending habits.
  4. Plan your expected expenses ahead of time and prepare for the unknown.

    e. Abundance is a holistic concept. It is inclusive of your monthly salary, your lifestyle and more.
  5. Make your financial decisions and own them. Start small and learn the power of money management 
  6. Be reasonable when making financial decisions. 

2. Rich Dad Poor Dad

Written by Robert Kiyosaki, Rich Dad Poor Dad is a classic book on financial freedom. He breaks down the basic steps to help you cultivate a rich mindset, and acquire financial knowledge.

He explains what investing in assets vs liabilities mean. Assets generate an income source or increase their value over time. Liabilities drain your money and can include a house or car brought on monthly payments.  

There are so many life lessons shared in the book, including how fear and greed compel our decisions, and much more.

Here’s what the book can help you figure out:

  1. Build your financial IQ and manage risks.
  2. Investing in true assets rather than in liabilities disguised as assets.
  3. Investing in your biggest asset first ‘YOU’. 
  4. How to stay motivated along the journey of creating wealth.
  5. How to make your assets, your biggest source of income.

3. Think and Grow Rich 

Written in the year 1937, after the great depression, this book is an inspiration for the masses. Its lessons are timeless classics. Napolean Hil (author of the book) emphasizes learning from the rich and penned down lessons from interviewing more than 500 wealthy people from across the globe.  

Here are a few takeaways from this one-

  1. Do not just wish you had achieved your dreams but inculcate a desire to accomplish them.
  2. Do what it takes to make yourself capable of achieving your desires.
  3. Take reasonable steps that foster positive impact.
  4. Work to make yourself a bit better every day. 
  5. Journal your dreams and revisit them for motivation or to draw a plan of action.
  6. Stay focused on achieving your dreams and make constant efforts to make them a reality.

4. The Magic of Thinking Big 

The first edition of Magic of Thinking Big, was written in the year 1959 by ‘David J. Schwartz’. The financial secrets shared in this guide are still applicable in the modern-day and have catered to almost 6 million readers. 

It emphasizes basic reasons why you may not be thriving.

Here’s what you can expect from this book:

  1. The power of positivity– The book presents simple ways to build a constructive mindset, and how you should think about success, not failure.
  2. Curb your fears – Successful folks are ordinary people who do not underestimate themselves by clinging to fears and negative thoughts. David pulls out easy and doable acts which can help you curb fear.
  3. Discover your ambition – Think big and creatively. How you think of yourself lays down the foundations of where you want to go. In this book, you’ll discover concrete ways to manage the same.
  4. Stop focusing on how other people view you – Your appearance speaks to others and is not rooted in your capability or identity.

Bonus Books on Financial Freedom

Financial freedom is not always about a big paycheck. It is about living a life you love and achieving your goals with no monetary roadblocks. 

Here are two bonus books that beautifully explain the meaning of purpose and life:

  • Ikigai 

The book extracts The Japanese Secret to a Long and Happy Life. It tries to bring you closer to the reason for being. The book offers studies and practical solutions to move towards prosperity and blissful living. 

  • The 9 Steps to Financial Freedom 

This book offers practical and spiritual methods to go ahead in life. Author, Suze Orman leverages wisdom with heart and her experience working as a Certified Financial Planner professional to pen down nine steps to achieve financial freedom.  

We hope these books can better help you take charge of your finances and be financially free. We got your back, buddy. Stay tuned for more wisdom we have in store for you.