Want to become better informed about money and personal finances? A group of finance experts recently recommended the following books for anyone wishing to increase their financial knowledge.
Personal finance experts recommend these books to become money smart
The Psychology of Money: Timeless lessons on wealth, greed, and happiness, by Morgan Housel, shares 19 brief stories that explore the unique ways people think about their money and how they behave with it. It is highly recommended by Lauryn Williams, a member of CNBC’s advisor Council.
The Intelligent Investor: The definitive book on value investing by Benjamin Graham, who was a mentor to billionaire Warren Buffett, so that alone kind of says it all. The book comes highly recommended by Shark Tank investor and best-selling author in his own right, Daymond John. This book has become mandatory reading for many investors.
The Big Payoff: 8 Steps Couples Can Take to Make the Most of Their Money–and Live Richly Ever After, by Sharon Epperson of CNBC. The book, which focuses on personal relationships and money, was recommended by Anthony Chan, managing director, and chief economist at JPMorgan Chase.
The Dhandho Investor: The Low-Risk Value Method to High Returns, by Mohnish Pabrai. The book lays out the author’s framework for value investing and is recommended by investor and author Phil Town. According to CNBC, “In 2007, Mohnish Pabrai and Guy Spier bid $650,000 on the chance to dine with Buffett. This turned out to be a bargain: last year’s winner paid over $4 million for the honor of dining with Buffett.”
Broke Millennial: Stop Scraping By and Get Your Financial Life Together (Broke Millennial Series), by Erin Lowry, is the first in a three-book series. This is the second book Anthony Chan recommends that focuses on finance and personal relationships. The book is a step-by-step guide that illustrates how to evaluate your own understanding and relationship with money.
The Education of a Value Investor: My Transformative Quest for Wealth, Wisdom, and Enlightenment, by Guy Spier, takes readers on his own personal journey of education and success that peers into the darkest corners of Wall Street. It’s a practical guide that lays out what it takes to become a successful investor. After the aforementioned lunch with Warren Buffett, Spier wrote this book.