The best books on financial literacy: rating, description and reviews

Financial illiteracy is very dangerous, because it not only condemns a person to vegetation in poverty, but also destroys any chance of improving the situation. A person takes more and more unsuccessful decisions, which means that he can afford less. In order for this not to happen, you need to read the best books on financial literacy. But it's not easy to flip through pages without thinking, and apply the knowledge gained in practice!

Test for financial literacy

Annamaria Lusardi of Dartmouth College and Olivia Mitchell of the University of Pennsylvania conducted a survey of residents of 14 countries around the world to find out how well people understand how money is earned. He showed that most people are illiterate in the field of finance. Only in Germany and Switzerland, half of the respondents answered all three questions correctly. But the most deplorable situation was in Russia, where only 4% of respondents did this. Let's consider these three questions:

1. How much money will you have in your account in five years, if you put $ 100 on a deposit at 2% per annum?
2. If your money is in the deposit account at 1%, and inflation in the country is 2%, then, after removing them in one year, you can buy more, as much or less than today?
3. Does the purchase of shares of one company provide a more reliable income than the acquisition of units of mutual funds?

If you find it difficult to answer at least one question, you should see our list.

Fundamentals of financial literacy: all books

Consider the rating of the literature on this topic of the well-known Russian social network of reading lovers LiveLib:

• Bodo Schaeffer "The Way to Financial Freedom". From this book begins our selection of books on financial literacy. Her rating is 4,426 points, the number of readers - 167 people, another 186 want to do it.
• George Clayson "The richest man in Babylon." Rating - 4,365 points, the number of readers - 1,052 people, 1564 others want to do it.
• John Kehoe "The subconscious can do anything." Rating - 4,317 points, the number of readers - 1322 people, 1171 others want to do it.
• Robert Kiyosaki "Rich Dad, Poor Dad." Rating - 4,073 points, the number of readers - 3331 people, 1564 others want to do it. If we consider the recommended books on financial literacy, then it is the undisputed leader of our list of popularity among users of the social network LiveLib.
• Richard Branson "To hell with everything, take it and do it." Rating - 4,028 points, the number of readers - 1,827 people, another 1305 want to do it.
• Napoleon Hill "Think and Grow Rich". The rating is 4,024 points, the number of readers - 1,054 people, another 850 want to do it.

"The Way to Financial Freedom"

In our list, where we collected the best books on financial literacy, it is in the first place. Despite the fact that it was published long ago, it has not lost its relevance. It contains a lot of information on how to start your own business, make your first investment, pay your debts and dispose of the profits. Bodo Schaeffer talks about how to become a middle-class worker secured with a person with a stable income. She has withstood five editions, received mostly positive reviews. Those who read it say that it describes simple but extremely effective methods for achieving financial independence.

"The richest man in Babylon"

Considering the best books on financial literacy, we placed the most famous work of George Clayson in second place according to the LiveLib rating. It describes the basics of investing. From it a person can learn how to make their own savings to make a profit. The author tells about the need for certain habits and routines. Among them are the following:

• You need to save at least 1/10 of your income.
• Costs should be monitored. Only things that are really important deserve that you buy them.
• You need to multiply your wealth. Savings should not be a dead weight.
• Before making any investment, you need to evaluate its profitability and riskiness.
• Accomplishment of the dwelling should take place for oneself, not for others.
• It is necessary to secure an income for your old age.
• The ability to earn money must also be constantly improved.

"The subconscious can do everything"

The best books on financial literacy are not only those that teach how to earn and distribute money. Our list also includes the work of John Kehoe, which is devoted to the secret forces of the subconscious. We must understand that success depends only on 20% of talent and natural abilities, and 80% on thinking. According to the feedback from LiveLib users, this book can fundamentally turn lives around. She teaches to find the right decision in any situation and gives motivation for active action.

"Rich dad, poor dad"

If we were to compile a list of popular books on financial literacy, not according to their rating, but by the number of readers, Kiyosaki's work would lead him. It is intended for a wide audience and gives those basics of dealing with money, which for some reason they do not pay any attention to at school. This book describes in sufficient detail how one can become a successful investor from an ordinary worker. According to readers, Kiyosaki describes in some detail how thoughts influence human life. There is no ready-made enrichment scheme in the book. However, the author offers a rather interesting concept, with which you can understand in which direction you need to move.

"To hell with everything, take it and do it"

Considering books on financial literacy, one can not fail to pay attention to the work of this entrepreneur. According to the readers' feedback, it can quite spodvigut to the opening of their own business or at least to some kind of action. The author of the book "To hell with everything, take and do" knows how to give a powerful stimulating impulse to conscious life. He tried his concept in practice. Now Branson owns more than 300 different types of business.

"Think and get rich"

And finally, the last, but this does not mean that the most uninteresting and unnecessary, the work on our list is the book of Napoleon Hill. Many people have heard about it, but people usually do not get their hands before it is read directly. Perhaps, that is why in Russia such a deplorable situation with financial literacy. Hill's book tells the stories of the most famous millionaires. Who, if not they, learn financial literacy? However, this book is one of the most important. It teaches proper thinking about money. According to feedback, it was thanks to Hill's work that many managed to overcome poverty and start earning, realizing what was hampering them on the way to a better financial life.