5 books to increase your financial IQ
It´s great to want your kids to learn more about managing money and investing... But are you up to scratch yourself? Because you certainly don’t want your little ones to point out at you your financial mistakes...(fair enough, we all have them). Here are 5 great books to increase your financial IQ.
1. RICH DAD POOR DAD (by Robert Kiyosaki)
A short and practical read that will transform the way you think about money. Rich Dad Poor Dad´s lessons are easy to act upon: learn how to become richer by building passive income and staying away from money-traps. Probably one of the simplest and most effective books you can read on the topic.
2. LEARN TO EARN (by Peter Lynch)
One of Peter Lynch´s most popular books, Learn to Earn does a great job at breaking down the basics of saving and investing. Packed with real examples and easy-to-understand language, it is the perfect starting point to turn your financial life around.
3. THE MILLIONAIRE NEXT DOOR (by Thomas Stanley and William Danko)
Do millionaires drive the most expensive cars and live in the most expensive neighborhoods? Do they buy $1,000-suits and luxury watches? Ok, some do- but you will be surprised to discover that most actually don’t.....! Much the opposite, millionaires tend to have rather understated lifestyles. This eye-opening book based on a real-life survey teaches some truly inspiring money lessons from the wealthiest people in America.
4. THE MOTLEY FOOL INVESTMENT GUIDE (by Tom Gardner and David Gardner)
If there is one thing to say about the Motley Fool book series is that they are fun, jargon-free and straight to the point. In this book, Tom and David Gardner reveal some of their best-kept secrets on how to start investing in the stock market. A must read for beginners!
5. BEATING THE STREET (by Peter Lynch)
Another classic from investment star Peter Lynch, Beating the Street offers some practical insight on how to choose great stocks that will make you money. To get a more general overview on how to save and invest money, I’d recommend Lynch’s other book: Learn to Earn. However, Beating the Street is great for those already investing and wanting to learn some stock- picking tips from one of the world’s most successful investor.
