10 books that will boost your financial literacy

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

From tutorials that teach you how to analyze expenses and save money, to works about market cycles and non-obvious investment ideas.

Perhaps you are actively interested in finance and have already got yourself an IIS? Or have you never managed to save more than 100 rubles? Or maybe you follow Warren Buffett on Twitter? Whatever your relationship with money, in this collection from Alpina Publisher you will find a book that will help you take the next step into the fascinating world of finance.

For newbies

1. “Girl with money. A book about finances and common sense ", Anastasia Veselko

Anastasia Veselko is the author of a project on personal finance for modern girls. She became a financial literacy consultant without a college degree in economics. And perhaps that is why her stories about how to increase your capital are written in a language that is understandable to everyone, even a person far from economics.

Anastasia decided to become a financial consultant after she noticed that, despite a good income as a director, she, as before, spent all her salary on immediate needs, no savings were added, and large purchases had to be made on credit. As a result, Veselko dived deeply into cost analysis, budgeting and investment. She completed the HSE program in economics, courses at American financial universities and improved her qualifications at the Ministry of Finance of the Russian Federation - and now she is ready to share this knowledge without unnecessary complicated terms.

It turns out that in order to become richer, you don't have to pore over bills and quotes for days - all you need to do is to invest time and effort into a rigorous plan at first, which will then work on its own.

2. “Himself a financier. How to spend wisely and save up correctly ", Anastasia Tarasova

It is important to read this book if only in order to understand how wrongly Russians estimate their expenses and income. On the one hand, it is part of the brain's defense system that protects us from stress, on the other, the legacy of the Soviet Union with its planned economy. Many people have not been able to adapt to the conditions of the market system, because of this they rely on the state and a pension, take loans, and go into debt. As a result, they never manage to save up for what they want the most - vacation, education for a child, or a house by the sea.

Anastasia Tarasova tells how to create a financial cushion, easily save up for a car even with a small salary, and start investing. The author speaks about these things with all responsibility - not only as a professional financial advisor with many certificates from foreign and Russian business schools, but also as an active entrepreneur who knows firsthand about the problems and challenges of the financial side of life.

3. “To love. Think. How to build strong and healthy relationships based on financial independence ", Svetlana Shishkina

Unlike other books on this list, Svetlana Shishkina's manual teaches you to protect not only your capital, but also your personal life. Women in Russia often make rash financial decisions by relying on men - and then losing their support. It happens that husbands leave the family, do not pay alimony, take property and violate the basic rights of women. All this would be impossible if their partners had economic independence, knew how (and were not afraid) to earn and spend on their own.

Financial literacy helps you take control of your life, has a positive effect on relationships, and guarantees a woman's safety at critical stages in her life. The author of the book is well aware of monetary problems, but was able to successfully overcome them, and in the process she bought four apartments.

4. "Investment Rules of Warren Buffett", Jeremy Miller

On the road to financial literacy and the next big step - investing - you can't do without a bright personal example. It could be Warren Buffett - a living legend and idol of hobbyist investors around the world.

Each year, Warren sends an open letter to the shareholders of his company, Berkshire Hathaway. Buffett, now 90 years old, has been writing these messages since 1965 - and over time they have acquired cult status throughout the financial world. And even though Warren is called nothing less than a visionary, and his forecasts always receive close attention, he himself is sure that predicting market behavior is a pointless exercise. Patience, frugality, and commitment to principles are Buffett's recipe for long-term success.

The book's author, investment analyst Jeremy Miller, has done a tremendous job. He didn't just collect key passages from Buffett's letters from 1965 to 1970 and cleverly organize them by topic. Miller begins each chapter with a precise summary that helps highlight the legendary investor's rules of life. Despite the development of investment methods over the years, his approach remains relevant today.

For advanced

5. "The Intelligent Investor" by Benjamin Graham

And the greats started small, like reading a book on investing. Thus, in 1949 Warren Buffett got his hands on the book "The Intelligent Investor" by economist Benjamin Graham. The young entrepreneur decided that this was the best thing ever written about investment. Many years later, Buffett has not changed his mind: "The Reasonable Investor", which has withstood at least 10 reprints in the United States alone, does not leave his literary recommendations.

Benjamin Graham in his book examines all aspects of effective investment policy - from design to implementation. One of the most respected economists and investors in world history, the founder of "value investing", he outlines the key principles of investing and gives clear and deep recommendations, the value of which easily stands the test of time. The book offers a detailed analysis of such eternal problems as the principles of optimal portfolio policy, the search for promising investment targets, the likely rate of inflation, ways to protect against it, and much more.

6. "Global Asset Allocation", Meb Faber

How can an investor build a globally diversified portfolio leveraging the power of modern financial markets? This is the task being tackled by Meb Faber, a prominent Western financier and exchange-traded fund manager for Cambria.

Faber's book provides an overview of the historical performance of 13 types of assets like stocks, bonds, cash or real estate since 1973. After tracing the impact of inflation on money, Meb proposes to mitigate extreme drawdowns of risky assets by combining - for example, a simple combination of stocks and bonds. An author known for investment analyzes the possibilities of a more global distribution with assets such as real estate. Faber pays special attention to examples of well-known investment portfolios: American financier Ray Dalio, the ubiquitous Warren Buffett and endowment funds.

7. "Money Without Fools", Alexander Silaev

In 2014, philosopher and journalist Alexander Silaev made stock exchange gambling his main occupation and source of income. In his book, this seasoned private investor and trader offers a fresh perspective on investing.

In "Money Without Fools" you will find an unbiased analysis of the market industry and a detailed analysis of the tools available to individuals. The author dwells on each of them in detail: currency, gold, deposits, bonds, loans, value stocks, growth stocks, blue chips, second tier, structured products, mutual funds, trust management and others. Silaev shows exactly where and how the investor loses, reveals the tricks and tricks of the financial market participants. The author believes that 10 years ago such a book would have saved him hundreds of thousands of rubles and months of life.

For the most sophisticated

8. “Out of the ordinary! How to make money on alternative investments ", Gerald Autier

“Personalize your investment,” advises Gerald Autier. Why does everyone need to invest in the same thing? You might be the one to invest in gold or a home abroad. Or maybe it will be much more pleasant for you to have an expensive painting or a rare car in your collection, which also grows well in price.

Investors are now rethinking how traditional assets are viewed. Autier, a 15-year-old financial consultant with top managers and bankers among his clients, explores investment alternatives in his book. These can be renewable energies or commercial real estate, precious metals or luxury goods, hedge funds or private companies. By arranging all the features of each asset type on the shelves, Autier shows possible investment strategies and explains to whom they are best suited.

9. “Market Cycles. How to Identify and Use Patterns for Successful Investing ", Howard Marks

If you are already familiar with the world of finance, you have probably noticed that some events in the market repeat themselves and sometimes you are even able to predict them. In order to save yourself time on making typical decisions, it is better to study cyclical patterns as carefully as possible.

The market works according to standard scenarios, but often its fluctuations are influenced not only by obvious external events, but also by people's emotions. Howard Marks, co-chairman and co-founder of the investment firm Oaktree Capital Management, which manages more than $ 120 billion in assets, will teach you to feel the market better. One of the greatest investors of his time, the author of the book quickly and easily teaches how to recognize and evaluate market cycles, not to go to extremes and use knowledge to act forward in the stock market.

10. “When bad is good. How to make money on investment ideas ", Isaac Becker

Investing today is easy. Everyone can discover the stock markets, own assets and try to multiply their investments. However, not everyone has the cherished profit, and therefore the advice of experienced specialists will always be in demand.

Real life examples from the famous international financial consultant Isaac Becker will show you how not to get lost in the stock market. Becker has been a financial advisor since 1991 and specializes in working with VIP clients. He has more than 50 publications on the organization of personal finance and investing, as well as numerous speeches at specialized conferences and seminars. In his book, Becker decided to help other people figure out how to find a good idea for an investment and then make money from it. These tips are not suitable for newbies, but readers with experience in investing will appreciate “When Bad Is Good”.

You can order all these and many other useful books in the online store. And for the readers of Lifehacker until December 27, there is a special offer: a 20% discount on the promotional code lifehacker.