10 Books To Read for financial education

10 books To Read for financial education

  1. Bible for financial principles that are eternal.
  2. Rich dad poor dad about how to know your financial situation.
  3. Cash flow quadrant with four structures of income tax implication through three types of income for poor to wealthy.
  4. Conspiracy of the rich exposes financial system rig for wealthy not middle class or poor.
  5. You are the message on how people make a long lasting impression of you in first 5 seconds.
  6. Start something that matters use your vision as part of your mission through work. Another words my work exists to support the Gospel of Jesus Christ.
  7. No BS marketing for getting customers to your company.
  8. Wealth of nations for knowing economics.
  9. Greatest salesman in the world to sell.
  10. The big book of business types of companies functions.

One of the most powerful ways to gain knowledge, insight, understanding and wisdom is through reading books.   Another way to gain skills is through experience, but experience can be a brutal teacher.  Mistakes produce insight.  The problem with experiential learning is that it is often viewed through the lens of a person’s current understanding.  We only know what we are taught. 

For Example: 

There are different financial classes that view finances in different ways.  The result is that people are either poor, just over broke or rich.  What you are taught determines what your status is.  If you read books with great insight, then this can elevate people from a lower financial class to a higher financial class.  Of course, you need to actually apply the knowledge.  On the other hand, experience alone without financial education cannot elevate someone to a higher class.  Because that person still has the same view and knowledge about money after the experience. 

How does a person become successful in life? 

The right education can lead a person to create a successful life.  The best investment for a person starting out is to spend time and money on their own financial education.  Investing in one’s self is important, because the knowledge that they receive will determine how high they will go.  Also, attitude determines altitude.  Keep this in mind, life is not about getting rich.  Being rich is only one aspect that should encompass your life.  Here are some other aspects: 

  • Faith
  • Family
  • Values
  • Corporate life

What methods do people use to receive income? 

They popularly trade hours for dollars.  This requires constant ability to trade time for dollars.  However, you can use your time once to create products that produce income continuously.  This is known as passive income. 

In this world system, we need money to get by financially from day to day. We need money to retire in order to live out our older years.  The topic of money is an important discussion, but we are told not to talk about it.  The Bible says that the love of money is the root of all evil.  The Bible teaches not to worship of mammon.  Jesus said, “A person cannot serve God and mammon.  The person would be devoted to one and despise the other.  A person cannot worship God and mammon.”  Money is loved by certain individuals that worship money as their god.  The heart of a person determines the level of wickedness in that individual, not money.  Money alone is not evil.  The person’s motive coupled together with their use of the money determines the good and the evil.

What is my motivation? 

The reason that my business exists is to promote the Gospel of Jesus Christ.  My desire is to preach using money that comes from my companies, instead of from a Church.  I stopped taking a salary as a minister.  What is your vision? Why do you want to invest in your own financial education?  Once you have answered these questions and have a motive and vision, you should keep them at the forefront of your mind.

The ten books that are must reads for financial education are:          

1.) The K.J.V. Bible is the most important book to read.  The Bible has one main message with timeless principles that pertain to every aspect of life.  The message of the Bible is the testimony of Jesus Christ.  John 5:39-40 says, “Search the scriptures; for in them ye think ye have eternal life: and they are they which testify of me.  And ye will not come to me, that ye might have life.”   

            The principle for success in companies and in life is serving.  If you can get others to the place that they need to be in life, then you will be where you need to be in life.  There are vast examples of trials and triumphs that offer great leadership insights.  The Bible lays a foundation for ethics in life and in business.  Deuteronomy 8:17-18 says, “And thou say in thine heart, My power and the might of mine hand hath gotten me this wealth.  But thou shalt remember the LORD thy God: for it is he that giveth thee power to get wealth that he may establish his covenant which he swore unto thy fathers, as it is this day.”

 2.) Rich Dad, Poor Dad by Robert Kiyosaki is another recommended book.  This book defines the many ways that people spend their money.  How they spend their money determines their financial outcome in their life.  This book shows people how to read and understand a financial statement.  The rich spend their money on assets that produce income.  The middle class spend their money on liabilities, like houses and cars.  The poor spend their money on expenses like food, entertainment and clothes. 

            The second point that the book brings out is that the rich do not work for money.  What does this mean?  This is a loaded statement.  I want to explain this in three ways.  The rich work for assets that will produce money from the asset.  The rich do not receive a pay check, because a pay check is earned income and will be subject to taxes.  On the other hand, the rich will receive tax breaks for producing subsidized businesses that bring income.  The last point is that the rich work to learn, instead of working for a paycheck.  The building of a business is a learning curve and will not pay the owner for a few years.  A person that trades hours for dollars will not work without an immediate return.  This is what separate a millionaire from a $35,000 dollar a year worker.  These principles are critical for financial success.

3.) Cash Flow Quadrant by Robert Kiyosaki is a recommended book.  This book defines the difference between an employee, self-employed, business owner and investors.  The tax implications for each of the four quadrants are explained. 

4.) Conspiracy of the Rich by Robert Kiyosaki is a recommended book.  The understanding of currency and its fluctuation is defined in this book.  People need to understand what inflation, stagflation and deflation are in order to be successful.  They also need to learn how to invest during each period and ways to preserve what they already own?  This book explains the rules of money and how to operate in the system that is set up to make the rich more money. 

5.) You are the Message by Roger Ailes is a recommended book.  This book talks about a person’s first impression of you as a person.  Within 12 seconds the average person will determine what they think about someone.  The message of the book is about being who you are towards people, being transparent.  This is a good resource for public speaking. 

 6.) Start Something That Matters by Blake Mycoskie is a recommended book.  The power of creating a business that is driven by providing for a need establishes connections with people and the business.  This is a powerful example of sales that comes from connecting branding with a need. 

7.) No B.S. Direct Marketing by Dan S. Kennedy is a recommended book.  The art of marketing is defined clearly in this book.  The different ways that a business can market offers insights for success in business.

8.) Wealth of Nations by Adam Smith is a recommended book.  This book teaches about economics.  The study of economics is important for any business owner who wants to understand how to scale a business to grow.  Most businesses fail because of the lack of revenue, which is directly related to sales.  They do not know how to sell.  Most businesses that do make it begin small and stay small.  Specifically, 95% of businesses stay small.  When someone educates their-self, then they become aware of what it takes for a big business to stay big.  The obstacle is to create the revenue that this owner will need in order to apply that knowledge to scale up big business.

9.) Greatest salesman in the world by Og Mandino is a recommended book.  This book has principles that a person can apply in their work that will produce more sales.  Follow the processes and succeed in business. 

10.) The Business Book (Big Ideas Simply Explained) Hardcover by DK Publishing is a recommended book. The book is a good place for a newbie to start learning about business.  The pages on market competition alone are worth the price of the book.  

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