Money books have structured information that makes it easier to learn important topics like money. I’m a big fan of blogs, but money books give us deeper knowledge about a subject offering a start and endpoint.
The more you know the more you’ll grow. Reading about money will help create a solid foundation of understanding.
In today’s guest post, I asked a millennial (more likely a member of Generation Z and not Generation Y) about the books he’s read and recommend to others.
Since this article was originally published, my book became a New York Times reviewed and bestseller. Get your copy of You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life.
Yaroslav Tashak, a 20-year-old student majoring in accounting at Montclair State University, and member of the original 2015 road trip share his must-read money books:
My Financial Roots
Where I originally came from, opportunities are not knocking at the door. It isn’t easy to find either. I was born in Ukraine and if you ever get the chance to visit, you’ll fall in love with the people, the culture, and the country. Everywhere you gaze, you’ll find good hard-working people struggling to make ends meet. No matter how hard you look, opportunities to succeed are limited.
My parents migrated to the United States and witnessing my parents’ struggles was like a needle to the heart. I grew up in America with my parents’ values and American idealism. The values and idealism made me realize I had to find a different way.
Three years ago, I was sitting in my swivel chair, with my head back, staring at the ceiling and thinking about how I could get rich. I didn’t want to get rich so I could own nice things. I wanted to help my parents and have complete freedom too.
After hours of empty thoughts, I still didn’t have any ideas. I had my head above the clouds but I felt more like a balloon full of air.
Later that day, as if it was meant to be, a friend with the same quest to gain financial freedom handed Rich Dad Poor Dad. I read this book in three days. As I read Rich Dad, a mental light bulb lit up, I could see clearly what I wanted and needed to do.
Money Has Importance
One way or another money affects our everyday life. Money can give you choices. The more money you have the more choices you have.
I learned the truth and gained a better understanding of why people struggle with money.
With a new perspective, I discovered a whole new world of personal finance. I had to learn more. I was asking people for information but found many people I knew were also in the dark about personal finance.
Rich Dad Poor Dad made me realize that there is a way for everyone to achieve financial success. It starts with understanding how money works.
I started reading regularly and it became a habit. A few months later, I started finding the opportunities that were hidden before. I began investing in the stock market and made plans to own real estate. All these new ideas came once I began reading that was changing my money mindset.
If you are 20 years old or any age for that matter, start reading money books as soon as possible. I thanked my friend who introduced me to Rich Dad Poor Dad. It’s changed my life. I want to extend the opportunity to change your life.
Here is my list of must-read money books for millennials.
1. Rich Dad Poor Dad by Robert T. Kiyosaki
Rich Dad Poor Dad is easy to read a book. It’s quick to understand. As mentioned it was the first book I read on money and gave a new perspective on personal finance. Robert Kiyosaki tells the story of growing up with two dads with two different views on money. Using the principles in the book, he became a self-made multi-millionaire and now teaches others those same principles. Read Rich Dad Poor Dad or Listen with Audible.
2. The Millionaire Mind by Thomas J. Stanley
After reading The Millionaire Mind, I was shocked to uncover the way millionaires actually think. This book is another must-read giving you access to the minds of hundreds of millionaires. It shares insights on how they made, spend, and keeps their money. Thomas J. Stanley does a great job in describing what characteristics millionaires have that makes them different. Read The Millionaire Mind or Listen with Audible.
3. Think and Grow Rich by Napoleon Hill
Think and Grow Rich is a legend among money mindset books. Napoleon Hill has authored many successful books. Think and Grow Rich is my favorite. It offers sound principles for success that everyone needs and can actually act on. Reading this book will make you think and grow rich! Read Think and Grow Rich or Listen with Audible.
4. Secrets of the Millionaire Mind by T. Harv Eker
The Millionaire Mind is another impactful book. T. Harv Eker is a financial guru and talks about what needs to happen prior to getting rich. Before wealth, you have to program your brain on the subject of money. Thinking like a millionaire will impact your future decisions – in money and life – and help you become wealthy. Read Secrets of the Millionaire Mind or Listen on Audible.
5. The One Minute Millionaire: The Enlightened Way To Wealth by Mark Victor Hansen
Mark Victor Hanson has a genuine passion to help many people. In The One Minute Millionaire, he shares stories of people who’ve beaten incredible odds to obtain riches. The book allows the reader to learn the different avenues of making money and how to become a millionaire. Read The One Minute Millionaire or Listen on Audible.
Have you read any of these must-read money books? Are there other money books do you highly recommend? What about them did you find impactful and habit-changing?