Pithy Insights from The Best Books on Money Management and Investing

As I have been reading the best books on personal finances management and investing, I noticed some patterns emerging over time. When internalized, these can be an indispensable guide for any individual on his/her quest to become wealthy. I have gathered all the important takeaways and listed them below for your reference.

I’m sure your money game will elevate and reach a new higher level in a short time if you put the following principles into practice.

  1. The more you give, the more you’ll get.
  2. Pay yourself first.
  3. Invest in yourself. Formal education is not enough, to become a millionaire you need to become a lifelong learner.
  4. Don’t work hard for money, let money work hard for you.
  5. Avoid instant gratification and focus on long-term wins. Don’t give in to fear, greed and other negative emotions, and invest consistently.
  6. Paying off your credit card debt and other loans first is the best investment you can make for your future.
  7. Automation will make personal finances management easier and effortless.
  8. Start investing early so that both time and the magic of compound interest are on your side.
  9. Develop a loving relationship with your money.
  10. Strive to become an entrepreneur, not an employee if you want to become wealthy.
  11. Getting rich is a slow and steady process.
  12. Diversify your investments across different asset classes, countries and currencies.
  13. Take calculated risks and always protect your downside.
  14. Build trust and credibility in your professional relationships, and always make money through honest and ethical means. Prioritize ethics over profits.
  15. Get disciplined, organized, and track your expenses. Monitor your habits and avoid self-sabotaging behaviors.
  16. When you accumulate debt, you rob your future self’s money, happiness and well-being.
  17. Growth and expansion is the way of nature. Hence, it is natural for you to become rich and wealthy. It’s your birthright!
  18. Managing finances is an act of self-care.
  19. Live a simple life and spend less than what you make.
  20. Always remember, the borrower becomes a slave to the lender. Become a lender, not a borrower!
  21. True wealth is not only about making money, but also about having great health and high quality relationships.
  22. Make visualization of your abundant future a daily practice. Believe before you see; manifestations take some time to gestate and come into physical reality.
  23. Have a written plan and budget to make the most out of the money that comes your way.
  24. Do the work that you love and fulfils your need for meaning, joy and money.
  25. When you focus on adding value to other people’s’ lives, you attract success and wealth.

Read this essay on my blog: The Karma Yogi Lifestyle; originally published on July 31, 2017.