According to studies, wealthy people have one thing in common. No, it’s not their money or their academic background. It’s not even their tenacity, grit, or never-give-up attitude.
It’s their wish to be educated rather than entertained.
According to Steve Siebold who studied over 1,200 wealthy people, “Walk into a wealthy person’s home and one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful. The middle class reads novels, tabloids, and entertainment magazines.”
The rich – no matter how busy – will find time to read the right books.
If you’re not an avid reader, you don’t have to strive to be like Bill Gates who reads at least two books a week. Instead of frying your brain while watching television or endlessly scrolling through Facebook, start reading one chapter a day. A chapter will only take about an hour or two of your time.
Here are 10 books you must read if you want to take control of your money.
1. Knowing Your Value: Women, Money, and Getting What You’re Worth by Mika Brzezinski
This book is for career women who have to work for a boss who cannot appreciate what they can do and the value of their skills. No, it will not teach you to be entitled. It will teach how to hone your skills, how to level it up, and how to raise the bar in every aspect of your life so that you can get what you’re worth. Read this book before you ask for a raise.
2. Why Women Should Rule the World by Dee Dee Myers
Most books will tell women they can do things men can do. Instead of taking on that argument, Myers portrays the strengths that women can leverage on. This is a great book for anyone fighting an uphill battle for leadership roles.
3. On My Own Two Feet: A Modern Girl’s Guide to Personal Finance by Manisha Thakor and Sharon Kedar
This book’s practical and easy to read. Learn how to fix your debt and why you need to have an extensive financial IQ. This is best for women who just graduated from school or will graduate from school.
4. Womenomics: Write Your Own Rules for Success by Claire Shipman and Katty Kay
Shipman and Kay are journalists who know the struggle of trying to balance the work-life schedule. In this book, they teach women how not to struggle with this work-life balance by focussing instead on turning it into one whole life balance.
5. The New Working Woman’s Guide to Retirement Planning: Saving and Investing for a Secure Future by Martha Priddy Patterson
This book will show you why retirement is different and a little more difficult for women. It also provides practical solutions. Best to read this as early as possible since retirement beats the slow turtle.
6. Emotional Currency: A Woman’s Guide to Building a Healthy Relationship with Money by Kate Levinson
Having to be financially dependent is daunting. It can be both exciting and frightening to be responsible for your financial wellbeing. This book will give you a fresh approach to navigating your emotions towards money. This one is highly recommended for those who have money anxieties.
7. Women & Money: Owning the Power to Control Your Destiny by Suze Orman
A list of financial books for women will never be complete without anything by Suze Orman. Orman bravely asks “Why is it that women, who are so competent in all other areas of their lives, cannot find the same competence when it comes to matters of money?”
This book explores the dysfunctional relationship between money and women. It’s a good book for anyone who needs to learn how to be emotionally and mentally aware of money, financial security, and financial freedom.
8. Smart Women Don’t Retire – They Break Free: From Working Full-Time to Living Full-Time by Gail Rentsch
This book will clearly show the big difference between being financially secure and financially free. It will teach you how to live your life to the fullest by being financially smart. Definitely a good book for anyone who believes that money is just the tool and never the goal.
9. Smart Women Protect Their Assets: Essential Information for Every Woman about Wills, Trusts, and More by Wynne Whitman
If you have no idea how estate planning works, get this book. It will teach you everything you need to know so that your assets won’t just be stripped off when you are taken out of the picture. This book is for women who need to protect their hard-earned assets – and that means every woman.
10. The Everything Guide to Personal Finance for Single Mothers: A Step-by-Step Plan for Achieving Financial Independence by Susan Reynolds and Robert Bexton
Single mothers, especially young ones, need to take care of their future and their child’s future. The anxiety about having to be responsible for a child on their own cannot be imagined. This book will be of great help if you are one of them. It will give you practical and inspirational tips and practices you can use to attain a secured future for yourself and your bundle of joy.
It’s never too late to be a bookworm. Beyond being a bookworm, it’s never too late to learn and become the woman you want to be. Financial IQ is very important and we must all strive to increase it on a daily basis if we want to be in control of our money and our life.
This article first appeared in thenewsavvy.com
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