Looking to shift your money mindset? Want to understand and internalize the habits of pentamilionaires and decamillionaires? Want some insight into why you spend?
I spent close to two years reading nothing but personal finance books when I made the decision to become debt free. I owe a lot of my current financial acumen to these writers. I also blame them for creating this thumping, throbbing desire to work for myself, although at this moment, I am straight-up scared. 🙂
But little by little, I am moving in the direction of my fears.
Believe me, after reading any of these books, you will be inspired to stage your financial comeback.
1. Thomas J. Stanley’s and William D. Danko’s The Millionaire Next Door
If we left it up to reality TV, you would think that all millionaires spend lavishly, make their money over night, and make their fortune in the fields of sports, music, fashion, and entertainment. Definitely, not true! This book opened my eyes to the many preconceptions I held about the habits of the rich. Among the many things that this book taught me, I left clearly understanding that the decision to live frugally, marry a partner more frugal than I am, and sell not-so-sexy goods such as spoons and straws will get you closer to being a millionaire than you think.
2. Kimberly Seals Allers’ The Mocha Manual to Turning Your Profit Into Passion: How to Find and Grow Your Side Hustle in Any Economy
Read this book if you are a black woman that wants to make that transition from being employed to being self-employed. Ms. Seals Allers inspires black women to think big and strategically through sharing her personal story of leaving a prestigious, comfy corporate job at Essence to starting The Mocha Manual empire. What is also great is that each chapter opens highlighting the story of a “little black woman that could and DID.” I believe this book is partly responsible for me deciding to launch this blog, conduct financial literacy workshops, and work as a personal finance coach.
3. Glinda Bridgforth’s Girl, Get Your Money Straight or any of her books
If you want a holistic approach to financial recovery, then this book is for you. Glinda Bridgforth speaks to how the unique cultural, economic, and racial experience of Africans brought to America to work as chattel impacted our collective financial consciousness. In a very comforting way, she teaches the readers how to eliminate debt, identify their emotional triggers, and set financial foundations such as savings funds and retirement goals. You may need some Kleenex when reading this book.
4. Michelle Singletary’s 7 Money Mantras For A Richer Life
Do you want someone to give it to you straight and raw? Michelle Singletary, financial columnist at the Washington Post, speaks to the reader with the same straight and real talk that her financial guru and grandmother, Big Mama, used with her when imparting financial wisdom. My favorite Michelle Singletary money mantra is “If it’s on your ass, then it’s not an asset.”
5. George Subira’s Black Folks’ Guide to Making Big Money in America or any of his other books.
Don’t let the copyright date or the simple cover of his books fool you. Lecturer Subira discusses the strengths and shortcomings of the political and cultural movement of the Civil Rights Movement and the Black Pride Movement in their ability to improve the collective economic positioning of blacks in America. In addition to critiquing these movements and corporate systems, he ultimately provides an action plan for African-Americans to follow if they want financial liberty and freedom.
[info_box type=”alert_box”]If this post really resonated with you and you want to transform how you feel and think about money so you can live your best life, consider money therapy. [/info_box]