If you want to read about personal finance or money, there are hundreds of materials available online that talk in detail about those topics. And each claims to be better than the other. Much of that content champions the virtue of personal money management and how wise and intelligent people rely on it. Then, free courses are also offered on the educational platform and on social media platforms, such as TikTok, YouTube and Instagram. But then you probably prefer to read real nuggets of wisdom from book experts rather than amateur social media influencers with perhaps questionable knowledge of personal finance.
So here are four recommendations and favorite books from some of the top personal finance experts.
yogic wealth: Yogic Wealth by Gaurav Mashruwala is a favorite book of Hemant Beniwal, certified financial planner and director of Ark Primary Advisors, a financial planning firm. “I personally enjoyed reading this book and would recommend it to anyone looking to become smarter with money. This book begins with a discussion of some of the emotions that the mind experiences in the context of money-related situations. Unfortunately, these emotions do not allow us to enjoy our wealth. The final section of the book contains advice from our scriptures, guiding us on how to enjoy our wealth and make sure it stays with us for generations,” says Mashruwala. The book also explains the various facets of wealth—physical, emotional, social, and financial—and the crucial need for a balance between them. Always maintaining the implicit distinction between Laxmi and money, he highlights the importance of enjoying wealth in absolute terms, that is, not relative to others. The author also concludes that our scriptures are not against wealth; they advocate the enjoyment of wealth in an absolute, calm, serene and respectful way: the Yogic Path.
Rich Dad Poor Dad: Rich Dad Poor Dad by Robert Kiyosaki is one of the favorite books of Anant Ladha, founder of Invest Aaj For Kal, a financial planning company. “This book teaches basic things, which are not taught in school. It explains in plain language about assets, liabilities, income and expenses. This is a must-read book for everyone,” says Ladha. This book tells the story of the author who grew up with two parents, his real father and the father of his best friend, and the ways they both shaped his thoughts about money and investing. This book debunks the myth that being rich requires a high income and explains the difference between working for money and having your money work for you. This book also challenges the belief that your home is an asset. It shows parents why they can’t trust the school system to teach their children about money. It defines once and for all an asset and a liability, and teaches you what to teach your children about money for their future financial success.
A wealth of common sense: Why Simplicity Trumps Complexity in Any Investment Plan: A Wealth of Common Sense by Ben Carlson is a favorite book of Shweta Jain, financial planner, CEO, and founder of Investography, a financial planning firm. “A Wealth of Common Sense by Ben Carlson was one of the first books I read about investing, and it remains one of my favorites to this day. Its simple and direct content, and its integrity on that point, touched me immensely. It’s a great read for investors starting their journey and anyone who wants to be smarter with money,” says Jain. This book sheds light on investing and how a framework based on simplicity can lead to better investment decisions. This book further explains that while information is important, understanding and perspectives are the keys to better decision making. This book describes the right way to view the market and your portfolio, and shows you the simple strategies that make investing more profitable, less confusing, and less time consuming.
the psychology of money: Timeless Lessons on Wealth, Greed, and Happiness: This book by Morgan Housel is a favorite of Arijit Sen, a Sebi-registered investment advisor and co-founder of Merry Mind, a Kolkata-based financial advisory firm. “Unlike many financial success books, this book does not revolve around complex strategies or formulas for one’s financial success in life. It explains in a very simple way how our behavior can lead us towards financial well-being,” says Sen. In this book, the author shares 19 engaging short stories that explore the strange ways people think about money and teaches us how to make better sense of life’s most important issues.