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Three books to help improve your relationship with money

Money is an integral part of life.

National Reading Movement (@readingnationSG)


Published: 3 September 2021, 5:54 PM

When we were young, we learnt that “no money” meant no new toys and that “saving money” pleases our parents. 

We also learnt to exchange well-worn frilly festive greetings for more red/green packets and to prioritise time with Generous Auntie over Stingy Uncle

As we grew older, we realised that “having money” could make a difference in where we live, how we go for holidays and what we wear. The lives of the rich and famous on social media always seem more exciting, more vivid and more worthy. 

Slowly but surely, the importance of having lots of money was ingrained in our minds. 

For many of us, the only money advice we have received so far is to “save”. Unfortunately, the world of monetary wealth is more complicated than that. 

As new words like “crypto”, “stonks” and “diamond hands” proliferate memes and social media, here are some books to help establish a better foundational relationship with money and guide one’s values and perspectives on one of life’s most important matters. 

After all, as Warren Buffet once said: “Risk comes from not knowing what you are doing.”

Atomic Habits – James Clear


Money matters can seem daunting for someone who is still dependent on pocket money. 

Atomic Habits sheds light on how even small actions can lead to big change in our lives. Author James Clear breaks down in clear, concise format, practical strategies to form good habits and master behaviours that can lead to great change. Not exactly a financial read, but certainly one that is useful to form good money management habits.  

Borrow the book here: eBook

Rich Dad Poor Dad for Teens – Robert T. Kiyosaki

 

Based on the classic Rich Dad Poor Dad, this book is packed with real-world money concepts relevant to teens and filled with games and fun quizzes to cultivate interest and facilitate understanding. The book encourages one to go on a journey of self-discovery, exploring different styles of learning to examining friends, mentors and rethinking existing concepts about money.  

From understanding the different types of income to what it means to work, this book radically enhances our knowledge of wealth beyond savings in the piggy bank. 

Borrow the book here: eBook

The Psychology of Money – Morgan Housel

 

If you are more inclined to absorb information through short stories, The Psychology of Money is the perfect read. Award-winning author Morgan Housel explores the myriad of ways people think about money through 19 short stories and shows us how our understanding of money is intertwined with our ego, pride, motivations and personal view of the world. 

The book dishes out words of wisdom on life, relationships and money matters and highlights how time is a crucial factor in the accumulation of wealth. It is truly an asset we cannot ignore.  

Borrow the book here: eBook

For more book recommendations, follow the National Reading Movement’s Facebook or Instagram, or use the NLB Mobile app to explore and download books for free.


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