My Personal Finance Book List

Here's my list of Personal Finance Books:

1. Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence by Joe Dominguez & Vicki Robin

2. The Richest Man in Babylon by George Clason

I got this comment/survey from Get Rich Slowly about the best personal finance books:

I really liked and recommend The Richest Man In Babylon. It has the biggest impact me on so far. It has really changed the way I manage my and my organization’s finance.

I found some of its principles really worth applying. They are:

1. Save 10% of Income
2. Seek Experts’ Advice
3. Let Money Work For You. Invest.
4. Invest, Insure. Less Risk, Less Return Is OK / Desirable Than Risk.

I am sharing the gist of the book for the benefit of all.

Richest Man In Babylon

A. 7 Rules

1. Start thy purse to fattening - Save 10% ( A part of all you earn is yours to keep!)
2. Control thy expenditures
3. Make thy gold multiply - Invest in profitable ventures
4. Guard thy treasures from loss - No Greed. No unprofitable / unwise ventures
5. Make of thy dwelling a profitable venture - house of own
6. Insure a future income - Insurance / old age
7. Increase thy ability to earn

B. Debt Management
Be a man of honor. Pay debts. Clear them.
Be a man for your wife. Respect and honor her
Formula for repaying debt:
- 10% Savings
- 70% Expenses (Whatever you earn, follow this principle)
- 20% Repayment

C.
Procastination is the biggest enemy!
Luck meets person who is prepared for the opportunity.
No Gambling, wager - Luck!
Men of action are favored by Goddess of Luck.

D. 5 Laws of Gold
1. Gold comes glad so long as one invests 1/10 to create estate.
2. Gold works diligently for wise owner who finds for it profitable employment.
3. Gold clings to the protection of owner who invests it under the advice of men wise in its handling.
4. Gold slips from unwise person / venture.
5. Gold flees from man who puts it to impossible earnings / tricksters.

E.
Lend only to a person who knows how to use that money, how to get returns, has a business plan, who has expertise in that area, better a little caution than a great regret.

F. We cannot afford to be without adequate protection.

G. Where the determination is, the way can be found.


3. The Wealthy Barber by David Chilton

4. The Total Money Makeover by Dave Ramsey

5. The Millionaire Next Door by Stanley and Danko

6. The Automatic Millioinaire by David Bach

7. Rich Dad Poor Dad by Robert Kayosaki

8. Tightwad Gazette books by Amy Daczycyn.