8 min read
Last updated
Money does not buy happiness, but sure it is handy to have! Reading my top five best books about money mindset could be a starting point for growing your wealth. Money and your mindset about it could positively or negatively affect every aspect of your life.
Although there are a lot more books to shift your money mindset, I am sharing this short list of books as you need the fundamentals. These book will give you the basics of a money mindset with the insights from a psychology, philosophical, and practical point of view.
The reason why I wanted to curated this list combining three different perspectives, is so that you can better understand your relationship with money and take more confident steps toward your financial freedom.
☰ In this article
Opening Your Money Mindset
You do not need hours of free time or a finance degree to start making smarter decisions about your money. You just need the right guidance.
Spend less time watching Netflix, scrolling on TikTok and Insta, spend that time reading these books, because educating yourself on money and mindset is the solution to start a wealthy life!
It is important to start your money mindset with a blank slate and forget that what you were taught in school or told by others.
The key is to have an open mindset and to understand what might be blocking you from receiving money. An open money mindset begins by being curious about what money really is, and after that, you can decide what type of investment strategies work best for you.
Note: We have been misled about money and investments. I would like to invite you to explore this for yourself if developing a new money mindset will result in a more structured way of building wealth.
An open money mindset begins by being curious about what money really is, and after that, you can decide what type of investment strategies work best for you.
Fundamental Books About Money Mindset
There are already a number of endless lists of must-read books about money mindset. Instead, I give you just this short list of just five (5) books. Let’s just be honest, most of you will not get through one book, let alone a list with ten or more of these money mindset books.
The best books to develop a money mindset?
- Think and Grow Rich by Napoleon Hill
- Rich Dad Poor Dad by Robert Kiyosaki
- The Psychology of Money by Morgan Housel
- Secrets of the Millionaire Mind by T. Harv Eker
- Winners And How They Succeed by Alastair Campbell
It is already a challenge to really take the information in and apply it into your life. So instead of overwhelming you with a huge reading list, I am sharing a handful of books that stand out. These books are worth reading and reflecting on it!
The best books to develop a money mindset?
⊕ Think and Grow Rich by Napoleon Hill
⊕ Rich Dad Poor Dad by Robert Kiyosaki
⊕ The Psychology of Money by Morgan Housel
⊕ Secrets of the Millionaire Mind by T. Harv Eker
⊕ Winners and How They Succeed by Alastair Campbell
Think and Grow Rich by Napoleon Hill
Think and Grow Rich by Napoleon Hill is a classic on wealth and success. Written in 1937, and focuses on the mindset of money, less on practical financial advice.
Some chapters are a tough read, due to the language and set up, but it gives you insights on qualities you need have like desire, faith, persistence, and setting clear goals. Also, some examples feel a bit outdated, however the main message still resonates: your thoughts and beliefs shape your outcomes.
The book gives you insights about motivation and personal discipline, two of the most important elements of becoming rich.
Note: If you, like me, read Dutch as well, Michael Pilarczyk translated this book into Dutch. Think and Grow Rich: Succes is het resultaat van de manier waarop je denkt.
Rich Dad Poor Dad by Robert Kiyosaki
Rich Dad Poor Dad by Robert Kiyosaki is a modern classic on financial mindset, as it challenges you on traditional views about money and wealth. Robert Kiyosaki uses his personal stories, how he was raised, to explain how beliefs about money are formed and how they can shape your financial mindset.
It is an engaging and easy-to-read book that encourages you to think differently about assets, liabilities, and the path to financial independence. It is a fundamental book to learn the basics and reframe your relationship with money before diving into an investing strategy.
The Psychology of Money by Morgan Housel
The Psychology of Money by Morgan Housel gives you insights into the “why”. He shares the mindset having the right behaviour, patience, and knowing yourself, not just being smart or keeping an Excel spreadsheet.
It is an easy read, and makes you rethink how you approach money, saving, risks, and even what enough money really means.
If you are looking for a book that helps you see money less like numbers and more like life itself, this one is worth reading.
Secrets of the Millionaire Mind by T. Harv Eker
Secrets of the Millionaire Mind by T. Harv Eker is a useful book as kickstarter for self-awareness. If you feel stuck, self-sabotaging, or uncomfortable with the idea of money, this book can support you identifying your inner blocks.
The writing style is motivational, and very easy to read. This book is about psychology and motivation of becoming a millionaire.
Winners and How They Succeed by Alastair Campbell
Winners and How They Succeed by Alastair Campbell is an engaging and thoughtful read about what really drives your success. Alastair Campbell was the chief strategist of Tony Blair, the former Prime Minister of the UK.
In the book he explores what it really means to win, if you are, for example, in politics, sport, or business. He blends personal insights with lessons from big names like Anna Wintour (editor-in-chief of Vogue magazine), José Mourinho (football coach) and Garry Kasparov (chess grandmaster). The book will give you a practical blueprint.
It teaches you the insights into the mindset you need: focus, strategy, and resilience.
After Reading Comes Investing: Stocks?
Now that you have gained a new perspective about money and your mindset, the next steps could be to start investing with your money.
If you are looking for practical investing strategies, financial planning tips, read my article on Stock Investment Strategies: How Much to Invest, What to Buy?
Investing in stocks could empower you to take control of your financial future. Psychologically, it builds confidence and financial awareness.
Factually, stocks have historically delivered strong long-term returns, outperforming other asset classes.
Saving money in the bank is an option, however, over time your money slowly loses value. Financially, stock investing supports your money growing faster than inflation, supporting your future goals.
Even a small portion of your money, monthly consistent investments can add up, and making it one of the smartest steps you can take for long-term wealth.
How to Buy Stocks?
If you decide to start with the investing strategy of buying stocks, you will need to choose a stockbroker or online trading platform. You will have to set up an account with a licensed broker or an online trading platform to buy shares.
In most countries brokers must be regulated by a financial authority (AFM Netherlands, ASIC Australia, and SEC USA). Therefore, it is key to ensure the platform you choose is reputable and meets your needs.
Before you invest personally, it is wise to review your own financial situation ensuring that your personal assets exceed your personal liabilities, so that you can invest from a position of financial strength.
By investing in stocks, you can build wealth over time, participate in company growth, protecting your money from rising prices (inflation), and receive income through dividend payments.
European Stockbroker
One of the tools available is European Broker Trade Republic one of the leading online brokerage platforms in Europe, headquartered in Berlin, and are supervised by the BaFin (Federal Financial Supervisory Authority).
Trade Republic allows you to buy and sell Dutch, European, and American stocks securely. Savings plans are offered without commission, and deposits are protected under the European deposit guarantee scheme, covering amounts up to EUR 100,000.
Before you invest personally, it is wise to review your own financial situation ensuring that your personal assets exceed your personal liabilities, so that you can invest from a position of financial strength.
More Articles on Investment Insights
Reading books written by respected experts can help you avoid common mistakes, understand key principles, and make informed financial decisions.
I hope that this list of best books on money mindset will support you in developing financial knowledge, but also a healthier mindset, to start feeling in control about money. If you want to learn more, please read my other articles in the category: Investment Insights.
➺ What Is a Stock and Stock Market?
➺ How Do I Start Investing in Stocks? Brokers and Online Platforms.
➺ Employee Stock Ownership: Types of Stocks & Employee Actions.
➺ Stock Investment Strategies: How Much to Invest, What to Buy?
➺ Stock Market Terminology You Can Use in Conversations.
※ This article is for informational and educational purposes only, and does not constitute financial or legal advice. You should always assess your personal financial circumstances, or consult a qualified advisor, but first make sure you have read books, educated yourself and done your own research, because knowledge is power!
