Posted by Brian Colvert
A bonfire is a fire of celebration. As I look back on my life some of the best memories and conversations have happened sitting around the fire. I have been…
The list of personal finance and investing books is pretty extensive. This is not that list. While those books can be helpful, many get very technical, and if your mindset isn’t in the right place to take in that knowledge – what is the point? Plus, technical knowledge alone won’t lead you towards a wealthy and rich life (financial or otherwise). A lot of what holds people back from success are their thoughts and beliefs about money.
What stories do you tell yourself about money?
For some, and as society has come to reinforce, is that money is the root of all evil, or that rich people are greedy, or some other negative belief along those lines. Living with a negative or scarce mindset will never lead you to a positive or abundant life. In fact, research shows that one of the BEST predictors of success in life is one’s mindset.
Get your mind right, get your life right!
So then, what is this list? This is a list of books for a better money mindset. Some talk specially about money, others don’t, but all should spark something in your mind and help you view the world, and your money in a different and more positive way. Let’s get to it!
This is an obvious first choice because, well, this book is THE book about mindset. There are decades of research behind this book that get translated into specific, actionable and tangible detail. Dweck has a very compelling view of why we should look differently at failure and learning. Further, this book helps you to evaluate if you are approaching your money from a fixed or growth perspective. There is a huge difference, which is why I so recommend this book.
Simon Sinek is a genius when it comes to getting to the heart of why you should do something, not how. Why do you want more money? Certainly, it’s not to have more pieces of paper with dead Presidents on them laying around. Defining what is truly behind your financial goals will help propel you in the right direction. You will discover that money is never really the WHY.
Shark Tank investor and entrepreneur Daymond John was broke with a $40 budget when he was starting his clothing brand FUBU, which today is a $6 billion brand. How is that for bootstrapping?! This book is great for putting money into perspective. It shows that it doesn’t always take money to make money (another disempowering colloquialism that society has)- the book has so many perfect examples of this. Use your lack of financial resources to your advantage. We also recommend this book to those well off because it can reignite a hustle you may have lost along the way.
This book is grounded in science. It doesn’t skip straight to the “here’s how it works, go do that”, instead, it helps you understand what influences the development of your skills and as a result helps you become a better learner in all areas. This book has expanded my mind and it is another great perspective builder. The are practical stories and examples of the concepts. Above all, Coyle shows how all of us can achieve our full potential (and the best money mindset) if we set about training our brains in the right way.
This is a classic and one of those books I revisit at least once a year. It is that good. If you haven’t read it, stop what you are doing and read it already. In fact, I believe this should be required reading for high school students. In the book Napoleon Hill recounts his research of more than 500 self-made millionaires (keep in mind the book was originally published in 1937) and then he boils down the “secret” to building wealth into 13 principles and reveals “major causes of failure” that hold many of us back from getting rich.This should really be on every list of books for a better money mindset, or self improvement book list in general.
If you haven’t read it, do yourself a favor and pick up a copy today. Get one for your and two more as gifts for a recent grad.
I had to convince my wife to read this because she isn’t a huge Tennis fan, she read it and loved it. So, if you are not a big Tennis Fan either, simply ignore the title and read on. This book is about how to master your inner dialog. The inner game of tennis theory states that two opposing mindsets are always battling. The first, the “teller” mind which is filled with self-judgments and criticism. This mindset wants to over-control your performance. The second “doer” mindset is the best mindset for peak performance and happens when you are free and react with your game. You must master both. Again, master your mind- master your money.
This book examines the lives of unlikely, unexpected millionaires. It goes into the habits, careers, and relationship that shape these people. Some of the material is dated to the 90’s but the concept is still applicable today- especially the principle that wealth is more common than you would think, actually it that might be even more relevant today. There is lots of practical advice in this classic book and one worth checking out.
I believe there are two main problems with the majority of self-help and leadership books. First, the vast majority of self-improvement books don’t seem to challenge conventional thinking in any meaningful way, nor do they bring about fresh insights. Second, they tend offer over simplified platitudes about success. The other 90% goes in the opposite direction. Dr. Robert Cooper, a neuroscience pioneer, urges us to take a radically different view of human capacity. We are mostly unused potential, he says, employing less than 10 percent of our brilliance or hidden talents. This book provides action steps to develop your full potential in all areas of your life.
I love this book because it offers a no-BS, tough-love approach to help you move past self-imposed limitations. It is a great alternative to cozy, everything is rainbows, self-help books. Beyond the catchy title, it offers practical insights on fostering the will for change, changing your language to serve you and overcoming analysis-paralysis. It drives home the point, quite bluntly, that you currently have the life (and the money mindset) that you are willing to put up with. It is certainly a refreshing read.
Habits around money can either be the most empowering or the most detrimental. This book walks you though everything you need to know about breaking and forming habits that will transform your life, and of course your money mindset. This book is a fascinating account on recent research into habit and worth the time to read it. What cues some of you current money habits? What rewards do you have in place for your good habits? Do you have a plan in place to create better habits around money? This book dives into it all. Change might not be fast and it isn’t always easy. But with time and effort, almost any habit can be reshaped.
There you have it! Our top Ten Books for a Better Money Mindset. Have you read any of these already? Are there others you would add to the list? We hope you find value in these and that at least one resonates with you in a way that makes you want to intentionally improve your mindset, because if you improve your mindset- you improve your life!
Please note this post includes affiliate ad links which are associated with Bonfire Media, LLC.