The SMS announcing your first salary is one of the best things in the world. But you often end up splurging it on stuff your parents didn’t let you buy. Well, I did! This went on for a few months, and I ended every month with ‘end of the month’ syndrome – no money after the 20th.
Eventually, you get tired of being bankrupt. You want to get out of the rat race and gain financial independence. So I went about doing some reading (yes, I am a nerd). Here are 3 books that helped me get out of urban poverty.
The Richest Man In Babylon
Books about money are often excruciatingly boring. A lot of facts and advice that make you want to grab a pillow (if you are not into money-talk). But this one will keep you engaged until the end. It helps you understand personal finance through stories of people from a long-lost land. The Richest Man In Babylon is a collection of short stories that will get you acquainted with thoughts of budgeting and saving.
Rich Dad, Poor Dad
Another one that stands out for being more story than theory. This one is sort of an autobiography. Robert Kiyosaki tells you how learned to invest and gain financial independence. This sets you up for financial independence and you want to invest the money you save using stuff you’ve learned from The Richest Man In Babylon.
After reading The Richest Man In Babylon and Rich Dad Poor Dad, I was all set to invest my money. But it was very hard to find a book tailored to the Indian market. Almost all books focus on how you can invest in the US and offered little advice on how you can save on taxes and choose a good insurance plan. And that’s when I found
The Only Financial Planning Book That You Will Ever Need
No stories in this one, but don’t doze off just yet. This book is almost a step by step guide and is as practical as it gets. It will help you with asset allocation, taxation planning, debt management, and choosing the insurance plan that works for you, among other things.
What are you waiting for? Get a copy and start reading!