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Nisha Shah says she has read many books about money, from classics that cover the basics like “Rich Dad Poor Dad” to books that focus on ideas like “The Psychology of Money.” Masu.
Her career has always centered around money in some way. She worked as an investment banker for nearly 10 years until she quit to launch her personal finance brand. She is also a certified public accountant.
Although she has read about 40 money books over the years, “three stand out to me as the best right now,” she told Business Insider.
1. The richest man in Babylon
Shah’s top choice was George S. Clayson’s The Richest Man in Babylon.
“This is my absolute favorite,” she said of the 1926 personal finance classic. “It’s written like a novel or a story, not just information. That’s why this book is probably one of the least boring financial books you’ll ever read.”
Clayson’s book is set in the ancient city of Babylon and tells the story of Arkad, the son of a humble merchant. He becomes the richest man in town by following simple money-making principles that still apply today, from paying yourself first to controlling your spending and leveraging your money.
The book encapsulates what it takes to build wealth “in a way that’s not boring and mundane,” Shah said.
2. Think and grow richly
The nearly 100-year-old book Think and Grow Rich is the culmination of author Napoleon Hill’s research into hundreds of self-made millionaires.
The 1937 book does not mention principles of saving or investing. Rather, Hill breaks down the psychological barriers that prevent many of us from building wealth, arguing that mastering money has more to do with mindset than anything else.
Shah said people tend to either love it or hate it, and appreciates its focus on mindset.
“This book is based on the unwavering belief that you can achieve anything, and it doesn’t just provide instructions for a robot, it weaves together the different elements of being human on the path to building wealth.” she said.
Of course, mindset alone isn’t enough to turn your finances around, she added. To move the needle, we must also take action.
3. Reconsidering the electronic myth
Rounding out Shah’s list is Small Business Consultant Michael E. Gerber’s “The Electronic Myth Revisited.”
Although this is more of a business book than a personal finance book, Shah believes that the core of building wealth is diversifying your sources of income, and one way to do that is to start a side hustle. Her advice is to take some of your 9-to-5 income and find a second source of income, such as selling products online, offering services like coaching or education, creating content and building your personal brand. It is used to create.
“While you will initially be putting in a lot of upfront work and money, the goal is to be more reactive and take slow steps by setting up the right systems and hiring the right people. It’s about starting to take a step forward.” Otherwise, your business will always feel like an active source of income.
That’s where “The E-Myth Revisited” comes in, delving into the importance of employment and “work style.” upon not your business At the inner Where many entrepreneurs fail is your business,” Shah added.
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