The best books on financial literacy: rating, description and reviews


Financial illiteracy is very dangerous, because it not only condemns a person to poverty in poverty, but also destroys any chance of improving the situation. A person makes increasingly unfortunate decisions, which means that he can afford less and less. To prevent this from happening, you need to read the best books on financial literacy. But not just thoughtlessly flipping through the pages, but putting this knowledge into practice!


Financial Literacy Test

Annamaria Lusardi from Dartmouth College and Olivia Mitchell from the University of Pennsylvania conducted a survey of people from 14 countries around the world to see how well ordinary people understand how money is earned. He showed that most people are illiterate in finance. Only in Germany and Switzerland half of the respondents answered all three questions correctly. But the most deplorable situation turned out to be in Russia, where only 4% of respondents did it. Consider these three questions:

  1. How much money will you have in your account in five years, if you put $ 100 on a deposit at 2% per annum?
  2. If your money is in a deposit account at 1%, and inflation in the country is 2%, then removing it in one year will you be able to buy more, the same or less than today?
  3. Does the purchase of shares of one company provide a more reliable income than the purchase of shares in a mutual fund?

If you find it difficult to answer at least one question, you are advised to familiarize yourself with our list.


Basics of Financial Literacy: All Books

Consider the literature rating on this topic of the famous Russian social network of reading fans LiveLib:

  • Bodo Schaeffer, The Path to Financial Freedom. This book begins our selection of books on financial literacy. Her rating is 4, 426 points, the number of readers is 167 people, another 186 people want to do it.
  • George Clayson "The richest man in Babylon." The rating is 4.365 points, the number of readers is 1052 people, another 1564 people want to do it.
  • John Kehoe "Subconscious can do anything." Rating - 4, 317 points, the number of readers - 1322 people, another 1171 people want to do it.
  • Robert Kiyosaki "Rich Dad, Poor Dad". Rating - 4, 073 points, the number of readers - 3331 people, another 1564 want to do it. If we consider the recommended books on financial literacy, then it is the undisputed leader of our list of popularity among users of the social network LiveLib.
  • Richard Branson "To hell with it, grab and do." Rating - 4, 0286 points, the number of readers - 1, 827 people, another 1305 want to do it.
  • Napoleon Hill "Think and Grow Rich." Rating - 4, 024 points, the number of readers - 1054 people, another 850 want to do it.


"The path to financial freedom"

In our list, where we have collected the best books on financial literacy, it is in the first place. Despite the fact that it was published a long time ago, it has not lost its relevance. It contains a lot of information on how to start a business, make the first investment, pay off debts and dispose of the profit. Bodo Schaeffer talks about how from an average worker to become a wealthy person with a stable income. She has already withstood five editions, received mostly positive reviews. Those who have read it point out that it describes simple, but extremely effective methods of achieving financial independence.

"The richest man in Babylon"

Considering the best books on financial literacy, we ranked George Clayson's most famous work in second place according to the LiveLib rating. It describes the basics of investing. From it, a person can learn how to make their own savings make a profit. The author talks about the need for certain habits and routines. Among them are the following:

  • It is necessary to postpone at least 1/10 of their income.
  • Costs must be controlled. Only the things that really matter deserve to be bought.
  • It is necessary to multiply your wealth. Savings should not be a dead weight.
  • Before you make any investment, you need to evaluate its profitability and riskiness.
  • Home improvement should happen for yourself and not others.
  • It is necessary to secure an income for old age.
  • The ability to earn should also be constantly improved.


"The subconscious can do anything"

The best books on financial literacy are not only those that teach how to earn and distribute money. Joined our list is the work of John Kehoe, which is dedicated to the secret forces of the subconscious. It must be understood that success depends only on 20% of talent and natural abilities, and 80% on thinking. According to feedback from LiveLib users, this book can turn life upside down. It teaches you to find the right solution in any situation and gives you the motivation to take action.

"Rich dad, poor dad"

If we made a list of popular books on financial literacy, not by their rating, but by the number of those who read them, then Kiyosaki’s work would lead him. It is intended for a wide audience and gives those elements of handling money, which for some reason do not pay any attention at school. This book describes in some detail how you can become a successful investor from an ordinary worker. According to readers, Kiyosaki describes in some detail how thoughts affect a person’s life. The book does not have a complete enrichment scheme. However, the author offers a rather interesting concept, with the help of which one can understand in which direction to move.


"To hell with all, grab and do"

Considering the book on financial literacy, one can not but pay attention to the work of this entrepreneur. In the opinion of readers, it may well encourage you to open your own business, or at least some actions at all. The author of the book "To hell with everything, fight and do, " knows how to give a powerful stimulus to conscious life. He himself tested his concept in practice. Branson now owns more than 300 different types of businesses.


"Think and get rich"

And finally, the last one, but this does not mean that the most uninteresting and unnecessary work on our list is the book of Napoleon Hill. Many have heard about it, but people usually don’t get their hands on it to read directly. Perhaps that is why in Russia such a deplorable situation with financial literacy. Hill’s book tells the stories of the most famous millionaires. Who, if not from them, learn financial literacy? However, this book is one of the most important. She teaches the right mindset about money. According to reviews, it was thanks to Hill’s work that many were able to overcome poverty and start earning, realizing what was stopping them on the way to a better financial life.

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