I’m obviously a big fan of finance books and the like. Perhaps I should get out more but I actually do find (some of them) pretty damn interesting from a personal development perspective.
In my humble opinion, we’ve all got to keep feeding ourselves with the right stuff simply to stay, at best, static. We’re all a work in progress. None of us has all the answers. And don’t let anyone tell you otherwise.
I’ve already provided some inputs on some of my favorite books in a previous blog post. But there’s no one-size-fits-all element to strategies around money.
So I decided to scan through my bookshelf for a few more. You never know, some of these may resonate far more loudly to the way that you see the world. Horses for courses.
Regardless, keep your mind and eyes open to any and all opportunities to learn just that little bit more.
Here is my selection:
The One Minute Millionaire by Mark Victor Hansen and Robert Allen. Ok, don’t get too caught up by the title. Making a million usually takes more than a minute or two from my point of view.
But I recently dusted this book down, having not picked it up since I read it about ten years ago. It was a revelation. It’s another book that focuses on both personal development and personal finance and it gives useful tips on both fronts.
But it also manages to weave through a parable about a woman called Michelle and how she works on her internal narrative and external realities to achieve financial freedom. Packed full of insights on how to approach life and your finances.
Little Platinum Book of Cha-Ching by Jeffrey Gitomer. This is a cute little book that focuses on the business principles of industrialist John Patterson, founder of the National Cash Register Company (hence “Cha-Ching”).
Gitomer was a bit of a titan back in his day. Strategist, master salesman, trainer and progressive thinker. The idea is that applying his simple principles will bring you success, wealth and fulfilment.
Some of the concepts will be familiar to you. Others may be less so. Either way, it’s a good template for living a better life.
Investors Chronicle: Beginner’s Guide to Investment by Bernard Gray. Ok, maybe some of you are falling to sleep simply reading the title. Bear with me.
It’s all well and good getting lost in the mindset approach. But at the end of the day, you need to educate yourself on the dynamics of investment and then take action.
When I got my first job as a junior analyst, I honestly didn’t have much of a clue about investments. (Some would say I still don’t…). In my interviews, I chatted to my boss-to-be about rugby, university and British history. There was no testing of strengths or tick list to check on competencies. The idle banter seemed to open the door to my transfer from a client support role in a corporate banking office into a stockbroking environment. It was a different time back then.
Anyway, in order to get a better sense of what the hell the investment world was all about, I bought this book back then. My edition is very old but you can find more timely updates around. It’s particularly useful if you live in the UK, as this is the principal bias.
Business Masterminds: Warren Buffett by Robert Heller. There are dozens of books out there about the great Warren Buffett. Why did I choose this one? The truth is I simply picked it up cheaply in a discount bookstore many years ago. Talk about good value!
The book gives you a window into the workings of one of the greatest investors that has ever lived. It talks about his background, his investment strategies and how he runs his business. Essentially, It shows you the mindset of someone who really has made big money. He’s not some get-rich-quick guy. Buffett really does know his stuff.
It’s part of a “business masterminds” series and isn’t a stuffy bio at all. It’s a pretty easy read. It even has pictures…
Investor’s Guide to Analyzing Companies & Valuing Shares by Michael Cahill. If you really want to get to grips with your finances, think about expanding your working knowledge to take on board different approaches to picking shares.
Maybe learning about “yield’, “cash flow” and “valuations” aren’t the sexiest of topics. Maybe it gives you the same warm and fuzzy feeling as having a root canal. But remember that, (applied) knowledge is power. Maybe use it for bedtime reading… And you don’t have to try to learn everything.
Start with the basics such as understanding what an investment actually is, what you should look for when investing in a company and what the risks are. Don’t be overwhelmed. Just think about baby steps.
So take a look and get learning. You never know, you might even like it.