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10 books you must read if you want to get rich

10 books you must read if you want to get rich

If you want to get rich, don't plonk yourself in front of the television tonight. Go home via the library and start reading a good personal finance book. Every minute matters.

If you're starting from scratch, then here are my 10 favourite personal finance books of all time.

1. The Richest Man in Babylon
Of any personal finance books, George Clason's 1926 classic has stood the test of time. It is acclaimed as one of the greatest inspiration books on the subject of financial planning. It's full of nuggets of wisdom written in the language of parables. The power of this type of book is to inspire you. Alternative: Robert Kiyosaki and Sharon Lechter's Rich Dad, Poor Dad.

2. The 7 Habits of Highly Effective People
Know all you want about investing, but if you haven't got your head sorted, you're going nowhere fast. Stephen Covey's 7 Habits is a great first start when it comes to self-help books. Alternative: Jack Canfield, Mark Victor Hansen and Les Hewitt's The Power of Focus.

3. You're Broke Because You Want to Be
This is a brand-new book on my bookshelf that I blogged about last week. It's in your face and essential if you're really going to address your spending and saving demons. Author Larry Winget argues people choose to be broke. Alternative: Lisa Dudson's Get Your Head Out of the Sand.

4. The Magic Lamp: Goal setting for people who hate setting goals
If you don't set goals you don't get ahead, author Keith Ellis writes. Alternative: Douglas Smith's Make Success Measurable!

5. Budget Wise, Dollar Rich
You're inspired, your head is sorted, and you've identified your excuses for not getting ahead financially. It's time now to get stuck into the nuts and bolts. Sadly financial success won't come your way unless you learn to budget — the big bad B-word. Written by Anton Nadilo and Andrew Lendnal. Alternative: Judy Lawrence's The Budget Kit: The common cents money management workbook.

6. Not Buying It
Not so much a personal finance book but a blow-by-blow chronology of journalist Judith Levine's radical experiment to spend a year without shopping. She only allowed herself to buy essentials. Levine even survives a year without buying lattes and make-up. Doesn't that make you shudder? Alternative: April Benson's To Buy or Not to Buy: Why we overshop and how to stop.

7. Barefoot Investor If you're young and you've not got much time then fast-talking Aussie Scott Pape's book is for you. Alternative: Suze Orman's The Money Book for the Young, Fabulous and Broke.

8. The Motley Fool Million Dollar Portfolio
If you've followed the rules until now and you're serious about getting wealthy, you'll need to put some of your money in shares and/or funds eventually. David and Tom Gardner's book offers page after page of sensible advice that anyone can follow. Alternative: Peter Lynch's One Up on Wall Street.

9. Create Wealth: The complete guide to residential property investment in New Zealand
No doubt some people will have scoffed at my suggestion of buying shares. Others will pooh-pooh property. Spreading your investments makes a lot of sense and an excellent book for budding property investors is Create Wealth. It's not a ra-ra millionaire by Christmas type book. Instead it gives a good solid understanding in how property investment is different from buying your own homes and the strategies you need to succeed. Alternative: Steve McKnight's From 0 to 130 Properties in 3.5 Years.

10. The E Myth
Business is an investment class and plenty of people get rich on the back of their entrepreneurship. Michael Gerber's The E Myth is one of the best-selling business books of all time and looks at why many small businesses fail. Alternative: Charles Handy's The Age of Unreason.

Finally, if you can take one tip from each book and run with it, you're well on your way to a new financial future.

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User comments
I have looked in my local library and I can only find 2 of the 10 books suggested. I will suggest they they purchase the other 8 if I can find the suggestion box.
Read Think and Grow Rich it is excellent
Hi David, Yes, that one is high up on my list. In fact there are about 20 books that I would mention. Every time I sit down and write my list of best books, it is different. It is often due to what I have been writing about or reading lately. One of the smartest private investors I've interviewed personally reads one personal finance or investing or self-help book a week. Sometimes that's a biography of a successful person, rather than a straight self-help book. I wish I could read that prolifically. Kind regards Diana Clement
'The Intelligent Investor' by Benjamin Graham comes highly recommended by Warren Buffet as "By far the best book on investing ever written". If one of the richest men (perhaps *the* richest man, as the market prices do not necessarily reflect the actual value of someone's holdings) in the world considers this the best book on investing, you should be ashamed not to even give it a mention within these twenty books!

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