At Plastk, we are all about education. From reading educational books, attending post-secondary classes, listening to podcasts or watching YouTube videos, we love helping our customers increase their knowledge on finance!
That's why we've created a list of the top 10 finance books you can read to increase your knowledge on credit and economics in Canada. These books offer a comprehensive look at various aspects of finance and credit, including ideas like, how to invest, how to change your money mindset, a basic look at economics and MORE!
Book 1 - ECONOMICS FOR EVERYONE
This book provides readers who have little to no knowledge about eco
Economics for Everyone, "is an antidote to the abstract and ideological way that economics is normally taught and reported.'' It discusses key concepts such as finance, competition and wages, and their importance to everyday life. We highly recommend this book for those who wish to learn more about how finance and economics works.
Book 2 -THE RICHEST MAN IN BABYLON
This is one of our favourite books, here at Plastk. The Richest Man in Babylon is a business book that holds the secrets to keeping your money and making more. The book takes lessons from traditional ancient societies, whose take on thrift, financial planning and personal wealth, were fundamental to building the foundation for modern society.
Originally written in 1926 the book offers financial advice through a collection of short stories set 4,000 years ago in ancient Babylon.
The fascinating and informative stories, detailed in the book, set you on a sure path to prosperity and joy, associated with financial freedom. Marveled as a modern-day classic, this book offers solutions to modern day problems and offers a beacon of light for those struggling with financial stability.
This book feels less like an information heavy guide to finance, but more like a collection of short stories that anyone can understand and relate to.
Rich Dad, Poor Dad looks at how the experiences we have with money growing up, affect us later in life. Author Robert T. Kiyosaki, discusses his childhood experiences with two father figures, he had in his life. His biological father and the father of his 'rich' best friend. He notes how seeing two different sides of the economic spectrum affected his experience growing up and as an adult.
This book explores key concepts like:
At Plastk we love this book because it focuses on the idea that while important, money can not buy happiness. It also stresses the importance of teaching your children financial literacy. The lessons taught in this book are timeless and essential for an individual's financial success, at any age.
Book 4 -WEALTHING LIKE RABBITS
In the 21st century, personal savings are at an all time low and household debt is increasing. While this may be daunting, it offers the opportunity to improve your relationship with your finances. This book offers financial advice in a fun and relatable way, quoting pop culture and using comedy. Covering subjects ranging from retirement savings and mortgages to credit cards and debt, this book will help you balance your life goals with your financial responsibilities.
If you're looking for a light hearted and engaging way to learn about the world of Canadian finance. We recommend this book for anyone who wants to improve their knowledge about finance and credit, but may be intimidated by traditional finance novels.
Book 5 -THE 30-DAY MONEY CLEANSE
The 30-Day money cleanse is all about how to eliminate your money anxiety and create lasting happiness with your financial situation.
Author Ashley Feinstein Gerstley wrote this book, when she was new to the working world and realized that she was stressed about her personal finances. She realized that her stress didn't only arise from a lack of knowledge but from the way that our society treats and talks about money.
The 30-Day Money Cleanse, has a goal of setting you on the path to financial peace with interactive journaling prompts to hold you accountable and keep you on track.
The book does this by discussing concepts like:
Book 6 -KAKEBO: THE JAPANESE ART OF MINDFUL SPENDING
This book focuses on helping you control your spending, teaching you how to save money, and giving advice to make your life happier and healthier. The book uses "Kakebo"--the traditional Japanese method of money management that is still widely used today, to help you with your financial ailments.
Having enough money to live is one of the most important factors affecting our health. Trying to balance expenses, like utility bills, housing, healthcare, food, and for many, the costs of raising children can leave us worried and stressed. Kakebo, is the solution to this.
This book acts as a two year guide that will help you learn how to manage your personal budget and the way you interact with every day spending. Designed like a diary, it allows you to record all your daily expenses week by week so you can see exactly where your money goes.
Each day is divided into four categories:
1. primary needs--food, personal hygiene, children
2. optional needs--shopping, cosmetics, gifts
3. culture and free time--restaurants, books, entertainment
4. extras/foreseeable expenses--such as travel, repairs, tuition, and taxes.
Kakebo isn't just about money, it helps to develop self-awareness, self-discipline, self-esteem, and promotes peace of mind.
Book 7 -THE PSYCHOLOGY OF MONEY
This book looks at the psychology of money and financial management. It explores the idea that doing well with money isn't necessarily about what you know. It's about how you behave and act towards money.
Money-investing, personal finance, and business decisions-is typically taught as a math-based field, where data and formulas tell us exactly what to do. However, in the real world, people don't make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and incentives are mixed together. In this book, author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life's most important topics.
Book 8 -SECRETS OF THE MILLIONAIRE MIND
One of life's biggest mysteries is why some people seem to get rich easily, while others are destined for a life of financial struggle. Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or their choice of jobs, businesses, or investments?
The shocking answer is: None of the above!
This book identifies your "money and success blueprint." We all have a personal money blueprint ingrained in our subconscious minds, and it is this, that will determine our financial lives. You can know everything about marketing, sales, negotiations, stocks, real estate, and the world of finance, but if your money blueprint is not set for a high level of success, you will never have a lot of money. The good news is that now you can actually reset your money blueprint to create natural and automatic success.
Secrets of the Millionaire Mind is two books in one. Part I explains how your money blueprint works. Through Eker''s rare combination of street smarts, humor, and heart, you will learn how your childhood influences have shaped your financial destiny. You will also learn how to identify your own money blueprint and "revise" it to not only create success but, more important, to keep and continually grow it.
In Part II you will be introduced to seventeen "Wealth Files," which describe exactly how rich people think and act differently than people who make 'average,' incomes.
If you are not doing as well financially as you would like, you will have to change your money blueprint. Unfortunately your current money blueprint will tend to stay with you for the rest of your life, unless you identify and revise it.
This book is a Plastk favourite, because it discusses and idea that we love to preach. This being, anyone can start on the path to financial freedom, as long as they are motivated and committed to it.
Book 9 -THE INTELLIGENT INVESTOR
Marveled as one of the best investing books on the market, the Intelligent Investor discusses the philosophy of “value investing," which shields investors from substantial error and teaches them to develop long-term strategies. Over the years, market developments have found the advice given in this novel, to offer the upmost success for their investments.
Vital and indispensable, The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.
Book 10 -BEAT THE BANK: THE CANADIAN GUIDE TO SIMPLY SUCCESSFUL INVESTING
Have you read one of these books? Let us know your thoughts by sharing this article on social media or tagging us in a photo of you reading! We'd love to hear your thoughts on these novels.
Disclaimer: The content provided on the Plastk Financial Inc. Blog is information to help Canadians become financially literate and learn about credit. Plastk is not responsible for building or ruining an individual's credit score or credit rating. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment, credit inquiries, and all other decisions should be made, as appropriate, only with guidance from a qualified professional.
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