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The Only 3 Money Books You Need To Read

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I’ve read a lot of books, mainly because I was very stupid when it came to money; I knew very little and my response was the same as many people I know today, I thought that having more money would fix my money issues.



But that’s really far from the truth, its like the man who searches for love in different women to only find out that his been chasing a feeling but not real Love. I don’t want to go all romatic on you. But love is patient, its not proud and it does not dishonor others. ( read 1 Corinthians 13:4-8)



But the point is, getting good with money doesn’t involve reading 200 books like I did, or making more than half a million dollars like I did, or owning more things that you could possible need like many do.



It comes down to knowing a few good truths about money and living by them for the sake of financial freedom. So these 3 books are the culmination of thousands of books, all three say the same things, but from 3 different perspectives that I think help a lot.

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I would like to tell you first my state of mind before reading these books and state of mind after reading these books and what changes I made in my life



The Psychology of Money by Morgan Housel

Before I read this book, I was 100% sure that what I was doing what was right

After reading this book, I was 100% sure that I was just placing the odds in my favor but that I didn’t really have any control

That when it comes to money we all think are right, none of are actually crazy but there are things we can do to skew the odds in our favor



Action:

I Rebalanced my Investments to 100% in the S&P 500 (because I don’t plan on using that money for decades to come )

This saved me thousands in fees, and gets me more money when retirement comes

I also have a bigger emergency account and hold on to more cash



Why?

This book taught me that your relationship with money is personal

And when you think about money, you should do what keeps you in the game for the longest amount of time

Its not about spurts of action but longevity.



The Barefoot Investor by Scott Pape

I was still playing some games that were not worth the prize.

And like Logan Paul says, you play stupid games and you win stupid prizes

And those games were trying to keep up with my credit score.



Actions:

I closed down all my credit cards

I plan to keep working until the lights turn off

I also stopped investing into the stock market ( to diversify into real estate )



Why?

For me personally I have enoegh in stocks that If I do nothing, I can have 3 times more money than I need when retirement comes by ( even if we make 8%)

And for me right now, its important to get cashflow, so I want to buy some properties to be able to make some money on rents each month to cover all my expenses

Without debt





Total Money makeover by Dave Ramsey

I was preparing to buy a home that cost 700k and putting down a low down payment

I was preparing to utilize as much leverage as possible to get to my goals as fast as possible

I was preparing for sleepless nights



Action:

I started to work towards financially Freedom and not Things

I started to want independence and not things

Why?

Dave taught me, that what’s important with money its what it brings you

It gives you financial peace and the things that take that away are usually debt and lack of patients


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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

The Only 3 Money Books You Need To Read

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