We believe understanding personal finance is key to building long-term wealth and achieving financial security. Whether you're just starting out, looking to improve your financial knowledge, or just love to learn these five books can serve as resources for learning the basics of financial literacy, budgeting, and planning:
We have personally read each of these books. Our goal in reading isn't to agree with every idea or topic discussed, but to expand our thinking about personal finance. We don't believe there is a perfect system or mindset. However, we have found little "nuggets" in each of these books that we could apply to our personal financial lives, to our clients lives, and have ultimately made us better personally and professionally. We hope they can do the same for you.
"The Total Money Makeover" by Dave Ramsey
Dave Ramsey offers a straightforward, no-nonsense approach to budgeting, eliminating debt, and building wealth. He has a system to follow called the baby steps to help you get your financial health in order.
"Rich Dad Poor Dad" by Robert T. Kiyosaki
This classic book introduces fundamental financial principles and the importance of thinking about money differently than the traditional 'work-for-money' mindset. Robert Kiyosaki does a great job of making you think differently and lays this concept out well with his four boxes.
"The Simple Path to Wealth" by JL Collins
Focused on simple investing strategies and financial independence, Collins explains how to achieve financial freedom using simple, easy-to-follow strategies. JL Collins is a big believer in using index funds.
"You Need a Budget" by Jesse Mecham
Mecham outlines a practical, hands-on approach to budgeting, showing how a structured plan can help you gain control of your money and break free from living paycheck to paycheck. They also have a great app you can use called YNAB.
"I Will Teach You to Be Rich" by Ramit Sethi
Sethi provides a more modern, practical guide to managing money, covering topics like savings, investing, and spending smartly.
These books are a great starting point for anyone looking to take control of their finances and plan for a secure future.
All the best,
Your Wela Financial Advisory Team
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Brent Forrest & Associates, LLC. dba Wela Financial Advisory (Wela) is a registered investment adviser. The information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. This article and images may have been enhanced by utilizing artificial intelligence (AI). Brent Forrest & Associates, LLC dba Wela Financial Advisory (Wela) is a registered investment adviser. The information presented is for educational purposes only and is not intended to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Wela may discuss and display, charts, graphs, formulas which are not intended to be used by themselves to determine which securities to buy or sell, or when to buy or sell them. Such charts and graphs offer limited information and should not be used on their own to make investment decisions
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