10 Best Books on How to Make Money to Read in 2023

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10 Best Books on How to Make Money to Read in 2023. Managing money can be even more difficult than making it. As a result, up to one in three Americans have subprime credit, and weak personal finances, and 56% lack the resources necessary to pay for a $1000 emergency expense.

Although there is no magic formula that can instantly make you wealthy, knowledge does assist.

These 10 Best Books on How to Make Money to Read in 2023 provide special viewpoints and advice that may enable you to gain control over your money and start earning more.

1. Passive Income, Aggressive Retirement

by Rachel Richards

Passive Income, Aggressive Retirement by Rachel Richards is a book about achieving financial independence by creating multiple streams of passive income. Passive income is money that is earned with little to no ongoing work, such as rental income, dividend income, or income from royalties.

Richards argues that passive income is the key to early retirement and a life of freedom and flexibility. She provides a step-by-step guide to creating and growing multiple passive income streams, and she shares her own personal story of how she retired at the age of 27.

The book covers a wide range of passive income ideas, including:

Rental Properties
Dividend stocks
Online courses
Affiliate marketing
Ebooks and self-publishing
Peer-to-peer lending
Real estate crowdfunding
Investing in businesses

Richards also provides advice on how to manage your passive income streams and how to invest your earnings for maximum growth.

Overall, Passive Income, and Aggressive Retirement is a valuable resource for anyone who wants to learn more about passive income and how to use it to achieve their financial goals.

Here is a brief summary of the key takeaways from the book:

Passive income is the key to financial independence and early retirement.
There are many different ways to generate passive income, and the best approach for you will depend on your skills, interests, and budget.
It takes time and effort to build multiple passive income streams, but it is possible for anyone to do it.
Once you have generated enough passive income to cover your expenses, you can retire early or work part-time to pursue your passions.

If you are interested in learning more about passive income and how to use it to achieve your financial goals, I highly recommend reading Passive Income, Aggressive Retirement by Rachel Richards.

2. The Automatic Millionaire

by David Bach

The Automatic Millionaire by David Bach is a book about how to build wealth over time without having to be disciplined or think about it too much. Bach argues that the best way to save money is to automate your finances so that you are saving and investing money without even having to think about it.

Bach’s book is based on the following principles:

Pay yourself first. This means setting aside a certain amount of money from each paycheck for savings and investments before you pay any bills or expenses.
Automate your finances. This means setting up automatic transfers from your checking account to your savings and investment accounts each month.
Invest for the long term. Bach recommends investing in index funds, which are baskets of stocks that track a particular market index, such as the S&P 500. Index funds are a low-cost and diversified way to invest in the stock market.

Bach also introduces the concept of the “latte factor,” which is the idea that small daily expenses, such as buying a latte from a coffee shop, can add up to a lot of money over time. Bach argues that by cutting back on small expenses, you can save enough money to become a millionaire.

The Automatic Millionaire is a simple but effective book that provides a practical plan for building wealth over time. It is a good book for anyone who wants to learn how to save and invest money without having to be disciplined or think about it too much.

Here is a brief summary of the key takeaways from the book:

Pay yourself first.
Automate your finances.
Invest for the long term.
Cut back on small expenses.

If you are interested in learning more about how to build wealth over time, I highly recommend reading The Automatic Millionaire by David Bach.

3. Everyday Millionaires

by Chris Hogan

Everyday Millionaires by Chris Hogan is a book about how ordinary people can build extraordinary wealth. Hogan debunks the myth that millionaires are born into money or have high-paying jobs. Instead, he argues that most millionaires are self-made individuals who have followed a few simple principles.

Hogan’s book is based on the largest study of millionaires in the United States. He interviewed over 10,000 millionaires to learn about their habits, beliefs, and strategies. He found that millionaires have a few things in common:

They live below their means.
They avoid debt.
They invest regularly.
They are patient and disciplined.

Hogan provides specific advice on how to implement these principles in your own life. He also shares stories of everyday millionaires who have achieved financial success.

Everyday Millionaires is an inspiring and informative book that shows that anyone can become a millionaire with hard work and dedication. It is a good book for anyone who wants to learn how to build wealth over time.

Here is a brief summary of the key takeaways from the book:

Live below your means.
Avoid debt.
Invest regularly.
Be patient and disciplined.

If you are interested in learning more about how to become a millionaire, I highly recommend reading Everyday Millionaires by Chris Hogan.

4. The Simple Path to Wealth

by J.L. Collins

“The Simple Path to Wealth” by J.L. Collins is a personal finance and investment book that offers a straightforward and accessible approach to achieving financial independence and retiring early. The author, J.L. Collins, distills complex financial concepts into simple, actionable advice that anyone can follow.

The core message of the book revolves around the idea of investing in low-cost index funds, particularly Vanguard’s VTSAX, which is a broadly diversified stock market fund. Collins emphasizes the importance of saving a significant portion of your income, minimizing debt, and living frugally to achieve financial freedom and retire early.

Throughout the book, Collins shares personal anecdotes and insights from his own financial journey, making it relatable and engaging for readers. He also discusses the psychological and emotional aspects of money management and how to overcome common pitfalls and mistakes.

“The Simple Path to Wealth” is highly regarded for its practical advice, especially for those who are new to investing and seeking a simple yet effective strategy for building wealth over the long term. It’s a popular resource in the realm of personal finance and early retirement, providing readers with a clear roadmap to financial security and independence.

5. Rich Dad, Poor Dad

by Robert T. Kiyosaki

Rich Dad Poor Dad is a personal finance book written by Robert Kiyosaki and Sharon Lechter. It was first published in 1997 and has sold over 32 million copies worldwide. The book is a parable about the financial lives of Kiyosaki’s two fathers: his real father (his “poor dad”) and the father of his best friend (his “rich dad”).

Kiyosaki’s poor dad was a highly educated man with a Ph.D. He worked hard all his life, but he never had much money. Kiyosaki’s rich dad, on the other hand, had only an eighth-grade education, but he became a self-made millionaire.

The book teaches readers that the difference between the rich and the poor is not how much money they make, but how they manage their money. Kiyosaki argues that the rich focus on acquiring assets, while the poor and middle-class focus on acquiring liabilities.

Assets are things that put money in your pocket, such as businesses, real estate, and stocks. Liabilities are things that take money out of your pocket, such as debt, cars, and houses.

Kiyosaki also teaches readers the importance of financial education and financial intelligence. He argues that the rich become rich because they know how to make money work for them.

The book has been praised by many for its simple and straightforward approach to personal finance. However, it has also been criticized by some for its simplistic view of the world and its promotion of risky investment strategies.

Here is a brief summary of the key lessons from Rich Dad Poor Dad:

The rich don’t work for money, they make money work for them. This means investing in assets that generate income, such as businesses, real estate, and stocks.
Financial education is essential for building wealth. The rich understand how money works and how to make it work for them.
Your personal residence is not an asset. It is a liability because you have to pay for it every month.
You should focus on acquiring assets, not liabilities. Assets put money in your pocket, while liabilities take money out of your pocket.
You should work to learn, not for money. This means focusing on developing your skills and knowledge so that you can start your own business or invest in assets.

Rich Dad Poor Dad is a good book for people who are new to personal finance and investing. It provides a basic overview of the key concepts that you need to know to build wealth. However, it is important to note that the book is not without its critics. You should always do your own research before making any investment decisions.

Continue Reading…10 Best Books on How to Make Money to Read in 2023

6. I Will Teach You to Be Rich

by Ramit Sethi

In his book I Will Teach You to Be Rich, Ramit Sethi provides a practical and easy-to-follow guide to managing your money and achieving financial freedom. He believes that anyone can become rich, regardless of their income or background, as long as they are willing to take action and follow his advice.

The book is divided into six weeks, and each week covers a different aspect of personal finance, including:

Week 1: Automate your finances
Week 2: Cut back on unnecessary spending
Week 3: Build your emergency fund
Week 4: Pay off your debt
Week 5: Invest your money
Week 6: Protect your wealth

Sethi also provides a number of helpful tips and tricks throughout the book, such as how to negotiate your salary, how to avoid hidden bank fees, and how to invest your money wisely.

One of the key takeaways from the book is that becoming rich is not about depriving yourself of the things you enjoy. It’s about making smart financial decisions and automating your finances so that you can save and invest money without even thinking about it.

Sethi also emphasizes the importance of having a clear financial plan. He believes that everyone should have a specific goal in mind for their money, whether it’s buying a house, retiring early, or starting their own business. Once you have a goal, you can develop a plan to achieve it.

I Will Teach You to Be Rich is a valuable resource for anyone who wants to improve their financial situation. It is written in a clear and concise style, and it is packed with practical advice that you can start using right away.

Here are some of the key takeaways from the book:

Automate your finances. This means setting up automatic transfers from your checking account to your savings and investment accounts each month. This way, you’ll save and invest money without even having to think about it.
Cut back on unnecessary spending. Take a close look at your budget and see where you can cut back. Maybe you can cancel unused subscriptions, eat out less, or shop around for cheaper insurance.
Build your emergency fund. Aim to have at least three to six months of living expenses saved up in an emergency fund. This will protect you in case of job loss or unexpected expenses.
Pay off your debt. High-interest debt can be a major obstacle to financial freedom. Make a plan to pay off your debt as quickly as possible.
Invest your money. Once you have an emergency fund and have paid off your debt, you can start investing your money. Sethi recommends starting with a low-cost index fund.
Protect your wealth. This includes having adequate insurance coverage and making sure that your estate is planned properly.

I Will Teach You to Be Rich is a great resource for anyone who wants to learn more about personal finance and achieve financial freedom. It is written in a clear and engaging style, and it is packed with practical advice.

7. The Greatest Salesman in the World

by Og Mandino

The Greatest Salesman in the World by Og Mandino is a self-help book published in 1968. It is written as a parable about Hafid, a poor camel boy in ancient Jerusalem who becomes the greatest salesman in the world after following the teachings of a wealthy merchant. The book is divided into two parts: the first part tells the story of Hafid, and the second part contains the ten scrolls that the merchant gives to Hafid, each containing a lesson about sales and success.

The ten scrolls are:

Today begin a new life.
Form good habits—become their slave.
Greet this day with love.
Look, speak, act, react with love.
Persist until you succeed.
Remove Quit, Cannot, Impossible, and Failure from your vocabulary.
You are nature’s greatest miracle. You are Rare.
Live this day as if it’s your last. And, if not, give thanks.
Master your emotions. Weak permits thoughts to control actions, and Strong forces actions to control thoughts.
Laughter is Power. Repeat—This too shall pass.
Multiply your value every day.
Act NOW.
Pray to God for guidance.

The book teaches that success in sales and in life comes from following these principles. It also teaches that the most important thing is to love yourself and others and to never give up.

The Greatest Salesman in the World is a classic self-help book that has been translated into over 25 languages and sold over 10 million copies. It is a popular book among salespeople, entrepreneurs, and anyone who wants to achieve success in life.

8. The 4-Hour Workweek

by Timothy Ferriss

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss is a self-help book that teaches readers how to achieve lifestyle design, which is the ability to live life on their own terms, with more time, money, and mobility.

Ferriss argues that the traditional 9-to-5 job is a trap that keeps people from living their best lives. He introduces the concept of the New Rich, who are people who have achieved lifestyle design by working smarter, not harder.

The book is divided into four parts:

Define the New Game: Ferriss teaches readers how to challenge the traditional assumptions about work and life, and to define their own goals for what they want to achieve.
Eliminate: Ferriss shows readers how to eliminate unnecessary tasks and obligations from their lives so that they can focus on the things that are most important to them.
Automate: Ferriss teaches readers how to automate their businesses and other income-generating activities so that they can work less and earn more.
Liberate: Ferriss shows readers how to create a lifestyle that gives them the time, money, and mobility to live the life they want.

The 4-Hour Workweek has been a controversial book, but it has also been very popular, selling over 1.35 million copies worldwide. It has been translated into 35 languages and has inspired many people to change their lives.

Here is a brief summary of the key takeaways from the book:

Focus on your most important tasks and eliminate the rest.
Automate your business and income-generating activities as much as possible.
Outsource tasks to virtual assistants and other freelancers.
Charge a premium for your services and products.
Design a lifestyle that gives you the time, money, and mobility to live the life you want.

If you are interested in learning more about how to achieve lifestyle design, I recommend reading The 4-Hour Workweek. It is a well-written and informative book that can help you change your life for the better.

9. How Rich People Think

by Steve Siebold

Steve Siebold’s book “How Rich People Think” examines the mindset and cognitive processes of affluent people. According to Siebold, the majority of people see success and riches differently than wealthy people do. In-depth examinations of the affluent mindset’s perspectives on opportunities, risk, and money are provided in this book. Readers who want to seek financial success will benefit from Siebold’s thoughts and tactics, which are based on his study and discussions with prosperous people. The necessity of developing a wealth-oriented attitude and making deliberate decisions that support wealth-building objectives is emphasized throughout the book. “How Rich People Think” provides readers with insightful information about the psychology of wealth and how adopting

10. The Psychology of Money

by Morgan Housel

“The Psychology of Money” by Morgan Housel is a thought-provoking and insightful book that explores the complex relationship between human psychology and personal finance. Housel, a financial writer and former Wall Street Journal columnist, delves into the emotional and behavioral aspects that influence our financial decisions.

The book emphasizes that money management isn’t just about numbers and spreadsheets; it’s equally, if not more, about understanding our own attitudes and behaviors toward money. Housel offers practical advice and real-life stories to illustrate how common psychological biases, such as overconfidence, fear, and the desire for instant gratification, can impact our financial choices.

“The Psychology of Money” provides readers with a new perspective on wealth, investing, and financial success, stressing the importance of long-term thinking, humility, and the ability to control one’s emotions in making sound financial decisions. It’s a book that aims to help people better understand their own financial psychology and make wiser choices with their money, ultimately leading to a more secure and fulfilling financial future.

Conclusion

You shouldn’t expect to become a millionaire overnight after reading one (or all) of the books on this list because no book reveals a secret that ensures financial success. However, if you follow the advice provided in the above-mentioned books, you’ll be one step closer to achieving financial independence and freedom.

It is worthwhile to try these books and combine all of the pieces of advice you will read into a set of financial steps that are appropriate for your needs, interests, and way of life.