Want to be Financially Successful? Read More than Personal Finance Books

read different types of books for success

When most of us sit down to learn about personal finance, we head for the personal finance aisle of the bookstore or library (or the top personal finance websites). We read the books by Dave Ramsey, Suze Orman, Jean Chatzky, David Bach, and the Bogleheads and think we’ve learned all there is to know about finance. This single-aisle approach is only a start, however.

I would argue that the people who are the most successful financially take an interdisciplinary approach to finance. That is, they don’t limit themselves to one aisle of the bookstore. They realize that many other subjects can be helpful in creating a sound approach to money. Since money affects nearly every aspect

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4 Responses to Want to be Financially Successful? Read More than Personal Finance Books

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  2. Gailete says:

    I’m an avid reader and I have seen it pay off in many areas of my life whether money related or not, even though many things come back to finances. A case in point, from high school on through college and into being a young adult, I was very fascinated in books that came out about children with psychological problems and those that had been diagnosed with autism, a little known and understood malady at the time (late 60′-early 80′s). Some would just think that as interesting and move on. For some reason I internalized it and when my second son was born not conforming to the usual guidelines for development, those books and their message gave me confidence as a mom with a child that had problem that wasn’t real popular or clearly understood at the time. I took what I had read of those books and how they had dealt with the children and applied it to my own son and now he is a healthy 30 years old living on his own and supporting himself and except for his student loan that he is paying ahead on, totally debt free. What has that got to do with my personal finances? Working with my child when he was young helped him to develop the skills that has allowed him to live on his own and be self-supporting instead of living at home with me having to support him financially on my SS disability. Please note that I realize that this isn’t possible for all children with autism.

    I taught myself how to cook out of books and taught myself how to sew and make quilts out of books which has led in a round about way into my part time, on line business of selling sewing patterns which makes a big impact on stretching that SS check each month.

    A well read person also understands many things and is exposed to new ideas that may prove important when it comes to investing or saving and spending money. I remember passing tests in college due to a historical fiction novel that I had just read that took place a the same time era that we were studying in then.

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  4. James says:

    Hi There Jennifer,

    Thanks for taking the time to get this down on paper. I would say that its good to read beyond personal finance, but it also makes sense to focus your time on topics which facilitate your wealth building. So, for example reading about finance and economics is probably going to serve you better than reading about gardening or theology.

    Thanks,

    James

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