My money mindset has changed massively over the last decade. I’ve gone from worrying about whether I could afford to keep my house to being mortgage free and on the path to financial freedom.
The journey has taken me through a kaliedoscope of budgeting methods, money making endeavours and gastronomic experiments.
My money mindset is still changing and the last year has seen me re-address the balance between giving and saving. It’s truly left me feeling lighter and happier.
It’s also seen me spend a small fortune on books – oh how I love them! And if you need evidence of this then click here.
So I wanted to share with you some of the books that have shaped my money mindset over the years.
1. Thrifty Ways for Modern Days – Martin Lewis
Thrifty Ways for Modern Days was the first book that taught me how small changes could make a big difference to my budget. It talks about using up what you have and is crammed full of simple money saving ideas for around the home. From tips on using storecupboard ingredients to remove stains to thrifty gift ideas, this book opened my eyes to what I could achieve on a limited budget.
It’s a book that has stood the test of time and I still refer to it now. It’sprovides a firm foundation for anyone starting out on their own journey towards financial freedom.
2. The Money Diet – Martin Lewis
The Money Diet claims to be the ultimate guide on shedding pounds off your bills and saving money on everything. And that is exactly what it does!
Whilst Thrifty Ways for Modern Days is a book you can dip into for hints and tips, this book is more of a step-by-step guide to managing your money. This was the first ‘proper’ budgeting book that I encountered and it had a huge impact on my money mindset. It helped me figure out what areas I was spending in and how much I needed to budget each month.
After working through the budgeting chapter I knew exactly where my money was going and how much I had left over.
I then used the book as a step-by-step guide to help me work out where else I could cut my costs or haggle for a better deal.
This book became my money bible and I’ve gifted it to many people over the years. It’s sure to help anyone seeking financial freedom on their journey.
3. Your Money or Your Life – Vicki Robin & Joe Dominguez
Your Money or Your Life introduced me to the concept of how we trade our life energy for money. It made me consider how finite our time is and to reflect on how I spent it.
It was the first book that I’d encountered that got me to calculate my real hourly wage (taking into account, travelling time, clothing, resources etc.) and I was shocked at how low it was. Your Money or Your Life ultimately made me value myself and my time more.
The book explains that once we reach a certain level of happiness, adding more ‘stuff’ does little to increase it. So I became more aware and mindful of what I was bringing into my life.
It also got me thinking about the future and introduced me to the possibility of financial independence and being time rich. Prior to reading this, my money mindset was all about saving money, this book changed my focus to one of freeing up time.
4. You Can Buy Happiness (and It’s Cheap!) – Tammy Strobel
You Can Buy Happiness is a book I’ve returned to again and again. I won’t tell you too much about it, as I don’t want to spoil the experience if you choose to read it. But in summary, it’s about Tammy and her husband’s experience of downsizing to a tiny home so that they could create more freedom in their lives.
Tammy gave up her high flying corporate job along with the flashy, expensive lifestyle, to follow a path that reflected her true values.
As someone who was on the path to create more freedom for myself, I found this book incredibly inspiring. It showed me what can be done when you choose to live life according to your own terms and how financial freedom can be within reach.
5. Everything That Remains – A Memoir by The Minimalists
Everything That Remains is another book that I’ve read many times. It’s an exploration of a high flying corporate guy, Joshua Fields-Milburn, who had money and the lifestyle, but not happiness.
This book reflects upon his journey, from questioning everything he ever thought he wanted, to embracing simplicity and turning his back on the corporate lifestyle and compulsory consumption.
Everything that Remains had a huge impact on my money mindset. It made me think about what I truly wanted and needed, as well as how I could live more intentionally.
6. Smarter Investing – Tim Hale
Smarter Investing was the first book I bought on investing. After reading Your Money or Your Life I wanted to learn to make my money work for me. As I read about investing, this book kept being mentioned so I decided to buy it.
It’s a doorstop of a book, but it offers a simple but logical strategy for long-term investing. It de-mystified the whole process for me and again changed my money mindset as I realised that I could invest. (Previously I assumed it was only for those guys on Wall Street).
Smarter Investing helped me take my first tentative steps into the investment world. Five years on and I’m still going strong in my journey towards financial freedom.
7. Rich Dad Poor Dad – Robert Kiyosaki
I was very late to the Rich Dad Poor Dad party, but this book gave me plenty of food for thought. It introduced me to the concept of assets and liabilities and made me consider what these were in my life. Since reading this book, I’ve worked on increasing my assets and reducing my liabilities.
I still think I have a lot to learn from this book and I’ll be studying it more in the future.
An ongoing journey
I’ve learnt so much on my journey and there’s so much more to learn. My money mindset has evolved over time and I’m sure it will continue to change.
The key thing I learnt is that it’s so important to put what we learn into practice. And as much as I love to snuggle under a blanket with a book, the results come from taking action.
I hope my top seven money mindset books have given you some inspiration. And I’m curious to know which books you would recommend adding to the list? What books have had a great impact on your life? Let me know in the comments below.
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Image courtesy of Tom Hermans on Unsplash.