Ways to #KeepMoving financially

Want to Get on Top of Your Personal Finances? Read These Books!

IDBI Federal Life Insurance Co Ltd.

We have all heard of good personal finance adages, for instance, save a quarter of your salary, or monthly pay credit card balance in full. And yet, each of us is guilty, in some way or another, for failing to make the best use of resources available at our disposal. Though in all fairness, the overwhelming content that we are confronted with might be partially to be blamed. Ergo, it has become an ever more important task to filter out the relevant and insightful content from the noise.

To arm you on this lifelong endeavor of financial planning, we have collated a list of must-read titles from the personal finance space.

  1. "Thinking, Fast and Slow" by Daniel Kahneman
    In this book, Kahneman, a Nobel-winning behavioral economist, expounds on the two distinct systems of thinking—one that is fast, and emotional, and the other that is slower, and more logical—in an attempt to truly understand what informs our decisions and judgments.
  2. "The Intelligent Investor" by Benjamin Graham
    Heralded by Warren Buffett as "By far the best book on investing ever written," this classic on portfolio investment continues to remain popular even after almost 70 years of being published. While this might be a slightly tougher read, it surely lays down a sound foundation to the world of "value investing."
  3. "Why Didn’t They Teach Me This in School?" by Cary Siegel
    In this one, Siegel discusses eight important lessons that encapsulate 99 principles to quickly enhance one’s level of financial management skills. The book contains memorable and easily digestible lessons, making it a great choice for beginners.
  4. "The Millionaire Next Door" by Thomas J. Stanley and William D. Danko
    A New York Times bestseller, this book derives Stanley and Danko’s insights on wealth accumulation from over 20 years of research and boils it down to 7 traits that are common across all in the elite club—while simultaneously busting some fairly false stereotypes.
  5. "Debt-Free by 30: Practical Advice for Young, Broke & Upwardly Mobile" by Jason Anthony and Karl Cluck
    Written by two 20-somethings drowning in debt at one time, this book places supreme weightage on arranging debt and discovering extra money to pay it off faster. It covers all the basics of money management and is highly recommended for people just starting out in their careers.
  6. "Your Money or Your Life" by Joe Dominguez and Vicki Robin
    This book propels you to deliberate over the ambiguous relationship between spending and saving; it will help you search for answers to some of the most fundamental questions impacting your daily life.
  7. "Freakonomics" by Steven D. Levitt and Stephen J. Dubner
    Freakonomics can arguably boast of containing insights from a more eclectic set of subjects than most books out there. With deft storytelling, Levitt and Dubner explore the "hidden side of ... well, everything" and provide an incredibly novel perspective of looking at the modern world.
    Only question that now remains: which one of these will you pick first?

Only question that now remains: which one of these will you pick first?

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