Seven best finance books for financial freedom
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Mentioned in the Video
Profit First by Mike Michalowicz
The Index Card Harold Pollack and Helaine Olen
The Simple Path to Wealth by JL Collins
The Little Book of Common Sense Investing by John C. Bogle
The Four Hour Workweek by Tim Ferris
Everyday Millionaires by Chris Hogan
Millionaire Teacher by Andrew Hallam
I admit, I am a finance book reading addict, I have been for years and I still am.
Personal finance, business finance, investing, money mindset, research on millionaires and billionnaires, you name it, I've probably read it.
And in todays post I want to boil it down and share with you my
top 7 finance books recommendations - these books legit changed my life & I have them to thank for the financial freedom I enjoy today!
I see books as the ultimate life hack.
You can take someones lifetime of wisdom and learnings in a field that they're an expert in, and consume it in a matter of hours.
These books which I'm about to share were truly so important to getting to where myself and my business are today, so without further adieu, let's get into the recommendations!
#1: Profit First by Mike Michalowicz
Here's the thing, if you run a business and that business isn't profitable, you can't pay yourself out a consistent salary or dividends or really anything, and all your attempts at building wealth personally will be non-starters if you're a business owner who has an unprofitable business.
So if you also have a full-time business or side hustle, you need to know how to manage your business finances before you'll have any personal money to manage.
And this book is genuinely incredible.
The author Mike Michalowicz is freaking hilarious and turned the topic of business finance, potentially one of the most dry topics you could imagine into a riveting read!
I remember exactly when I read this book, I was on vacation in Canada with my husband. We were staying at the Fairmont Montebello, that's the biggest log cabin hotel in the world if you're unfamiliar (pics below!), and as I was laying by the pool reading this book I kept bursting out laughing, to which my husband asked highly confused "aren't you reading a business finance book?"
Profit First will help you…
get your business finances in order,
figure out are you overspending or underspending in your business and therefore holding back growth
know how to organize your money so you have a grasp on where everything is and how to think about your business money.
This book will help ensure your business is profitable and your business finances are in order and you're able to take home a fantastic personal income from it!
The Profit First method is exactly the method I use to organize my business finances and without it, I'd still be starring at profit/loss statements every month pretending I know what they mean and kidding myself that I know how to use a profit/loss to make business expense decisions, which I absolutely do not.
#2: The Index Card by Harold Pollack and Helaine Olen
This book and the next one are what I'd classify as super easy reads and really beginner friendly books.
I'll get more into the dense more advanced book recommendation later, but this book falls squarely into perfect for you if you're new or inexperienced with the personal finance thing.
Author Harold Pollack was fed up with all the confusing, conflicting financial advice out there and said that what people REALLY need to know to manage their own personal finances and retire comfortably could fit on a single index card.
If you have tried other personal finance books and your find your head was spinning or you were totally confused by what you've read, this is the perfect book for you!
It's simple, clear, beginner-friendly and the advice in it is solid.
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#3: The Simple Path to Wealth by JL Collins
This book is another super easy to read and gives you a perfect introduction and explanation on investing.
Author JL Collins explains the stock market, it rises and falls, bull markets, bear markets, bonds, index funds, asset allocation, dollar cost averaging and more.
All those confusing financial terms you've heard and nodded along pretending to know what they mean, this book explains them simply.
At the end of the book you'll not only understand investing, how to do it properly and how to hold your nerve when the market goes wild, but also a bit of practical advice on picking investments too.
With other investment books I felt like I read them and understood the concepts, but I didn't know what to practically do next and this book was one of the few which I feel like covered this vital bit of information as well.
#4: The Little Book of Common Sense Investing by John C. Bogle
This book is where things get a bit more advanced and complex.
Written by John C. Bogle, you might have heard of his name before, he is the creator of something called an index fund, that is a super popular financial tool and investment option and he's also the founder of Vanguard, which is personally the company and platform that I choose to invest my money with.
This book goes in depth into understanding the market, and gives a ton of detailed examples on what would have happened with your money had you invested it different ways in the market over the years.
If you listen to any advice on finance these days you'll hear that index funds are all the rage, but you might not quite understand why and I think that it's super important for you to understand why you're making a decision instead of just following what everyone says to do.
By the end of the book you'll also be an index fund advocate and you'll truly understand why they're so incredible and such a fantastic tool for investing your money, which again will be vital information to be equipped with when the markets take a downturn and uneducated investors pull out at just the wrong time.
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#5: The Four Hour Workweek by Tim Ferris
This book is a true gem, I truly love Tim’s work and his way of thinking.
This isn’t a finance book in the traditional sense, but it can be extremely helpful with getting you on the path to wealth, and when I say wealth, I don't just in terms of finances.
Tim shares a completely unique, somewhat feisty and creative method of thinking about work and earning an income.
I first read this book in high school and thought Tim was totally out to lunch and what he shared was completely unrealistic until a few years later when I reread it after having created my business and I realized I was actually doing a fair amount of what he recommended.
So go into this book with an open mind, I can confirm his crazy ideas do work and you can implement them in your life to build a business which runs itself and leaves time for you to build not just financial wealth but a life with the time to follow your passions too.
#6: Everyday Millionaires by Chris Hogan
This book has a lot more to do with the mindset and attitude towards finance than anything else.
Chris Hogan did research on the millionaires in America, they surveyed 10,000 millionaires and in the book he details who they are, their mindsets and what they do with their money, which is NOT what you'd expect at all!
It turns out, millionaires in America are not the ones flying around in private jets or showing off lambos and designer bags.
They're quite literally your frugal next door neighbour which you'd have no clue is actually rolling in it!
This book tells you what millionaires do and don't do with their money and helps you learn how to become one by taking a similar frame of mind and actions as Americas millionaires.
This is an extremely interesting read, super fun to get through and truly one of my absolute favourite finance books! Making this video has actually inspired me to reread this one again and I'm loving listening to it on Audible right now!
#7: Millionnaire Teacher by Andrew Hallam
This one is a book which is for you if you're in a very specific situation like me.
This book was written by a teacher who taught at international schools and who moved countries every few years, so it's specific advice for anyone in a similar situation.
I'm not a teacher at an international school and I would imagine most of you aren't either, but if you're digital nomading or moving countries a lot (like teamie Helen who recently blogged all about it) , basically just ignore the word teacher in the book, and it's perfect for you!
I moved abroad after college and honestly have no idea which country I'll be in when I retire, which makes investing a bit more complicated.
A lot of countries have investment vehicles or wrappers which are a tax efficient way to save for your future, things like 401ks in the US, RRSP's in Canada, and pensions in the UK. If you're always moving or are not sure where you'll end up like me, you can't really take advantage of these and it makes investing a lot more tricky, but not impossible.
Now after you've read all of those, you might still be left with one very practical problem on your hands. How do you increase your income in order to have the money to invest?!
Which is why I'd love to peel back the curtain and show you how I make $62,500 a month online.
Watch this video next to learn all about my 7 streams of income and what I learned in the process of building them!
