5 Best Financial Books for Beginners

Anna Palomino – “The Big Bad Book (Of Everything)”

Palomino’s book is a local offering that focuses on financial aspects in a Jamaican/Caribbean setting. The topics covered include acing job interviews, building and managing an emergency fund, purchasing a vehicle, buying real estate and building multiple sources of income. The information we learn has a greater impact when it is put into a context we can relate to, and this book definitely understands the financial assignment of educating the local population.

P.T. Barnum - “The Art of Money Getting”

This book by Barnum is widely regarded as an important historical part of the development of Western capitalism. Published in 1880, this book contains advice from one of America’s most well-known entrepreneurs. Financial advice laced with witty remarks will make a knowledgeable read for someone seeking to be more informed.

Paulo Coelho – “The Alchemist”

This story is well-loved, and has been printed in many languages for worldwide use. It tells the story of a shepherd boy in Spain who follows his intuition while seeking for treasure. As the story unfolds, many life lessons are passed on to the reader, and a journey inward will reveal the things we seek the most. This is surely a book that everyone can and should read.

George S. Clason – “The Richest Man in Babylon”

Clason sets this story to a time 4000 years ago, in the city of Babylon. We learn by reading this story about personal wealth, and how to see finance as not some huge concept that is difficult to grasp, but a step-by-step set of habits that accumulate and provide great returns in the long run. One of the more popular lessons in this book is the habit of paying yourself when you do receive some money; another is saving 10% of all you earn.

Robert Kiyosaki and Sharon Lechter – “Rich Dad Poor Dad”

This book has been a hit in this generation, particularly as it examines the differences in behaviour and thought between those who are not financially literate, and those who are. Robert tells his story of growing up with a ‘poor dad’ (the average citizen) and being friends with someone who had a rich dad. How each dad handled life resulted in the wealth they were able to build and maintain, and these experiences can help to shape and refine your decision-making processes into what works best for you.

The Takeaway

It is always important to keep reading, learning, and growing. If you need some information about starting to build your own wealth, or would like to introduce someone to these lessons, choosing any of the books mentioned is a step in the right direction. The knowledge of those who came before us can give us the lessons without the added hardship, and greater rewards with well-placed application and effort.

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