I have two cousins graduating high school this month. I was wondering what I should get them for graduation. There is always the gift card which is quite lame in my opinion. Might as well give them cash. There is a personalized clock from Things Remembered. I have about 20 of these sitting in a bin in the garage. No thank you! So what do you get them?
Well what about a head start on their financial futures? What about teaching them something about finances. Something I never had at that age. Heck I did not have it until I was in my late 20’s! So why not give them financial books?
I have read a few in my day but was unsure about what would be the best for an 18 year old. So I got onto Rockstar Forum (you should check it out here if you never have before) and asked my co-finance nerds their thoughts.
Nine people replied. Not bad. So what was the list of books these financial bloggers recommend?
Well here it is and if you click on the links below to buy it I make a little cash:
#1 coming in with 5 votes was:
The Millionaire Next Door by Thomas Stanley
This is a personal favorite and one I thought of on my own. I really enjoy Stanley’s explanation that rich people are everywhere. That typically stealth wealth is what wins out and not being fancy or flashy.
Tied at #2 with 3 votes were:
The Richest Man in Babylon by George Samuel Clason
I have never read this one but I heard it is great. With 3 votes I may have to check it out.
I will teach you to be rich by Ramit Sethi
Another book I have yet to read, though I follow Ramit on Twitter. He seems to have made himself a successful businessman and it all started from this book.
Tied at #4 with 2 votes was:
Your Money or Your Life by Vicki Robin
I have heard many great things about this book. For some it was the catalyst to a journey towards FIRE (Financial independence retire early).
Simple Path to Wealth by J. Collins
And to round up the list:
Findependence Day by Jonathan Chevreau
Unshakeable by Tony Robbins
The Behaviour Gap by Carl Richards
The only investment guide you’ll ever need by Andrew Tobias
Get a Financial Life: Personal Finance in your 20s’ and 30’s by Beth Kobliner
Truth about money by Ric Edelman
There was also a recommendation for a podcast:
Welcome to the better off podcast run by Jill Schlesinger
Finally the best idea I heard was from Chief Mom Officer who recommended bribing my cousins. If they read the book and write a book report, they get a cash prize at the end.
I have decided to buy them both The Millionaire Next Door and I Will Teach You to be Rich. I am also going to get him The Alchemist by Paulo Coelho. While not a personal finance book it is a fictional book about chasing your personal dreams, which I think goes with finding financial independence. It is also my favorite book.
What are your thoughts?
Also published on Medium.