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What books changed how you handle money?

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 1 month ago '09        #29
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Zaosyn 
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What books changed how you handle money?
 

 
I got Dave Ramsay's Total Money Make Over



and Rich dad poor dad



They haven't changed my life yet but I haven't finished reading them either I just started but it's starting to shape the way I look at money and how I handle it. To put it in perspective I make $57k a year and have never taken any classes on finances or anything.. just some dude who grew up on food stamps and wanted more and worked hard for my current salary- even though I have strong willpower to better myself but I have a weak willpower to manage my money- part of that is because I don't know any better and part of it is because I grew up poor so I don't wanna live on some small a*s budget (and feel poor) to save money but I'm starting to change my mind now the more I learn about managing finances.

One of the best feelings was having over $10k in my savings (I never even had a savings account 2 years ago). I coulda had A LOT more but I spent it like a fool.

I'm getting kinda hooked on learning about money and how to make it work for me or being smart with it and generating passive income and sh*t like that.


Last edited by Zaosyn; 01-07-2020 at 08:30 PM..
+14   
 1 month ago '06        #28
bxdiplomat 
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I Will Teach You to Be Rich, Second Edition: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works







Mindsets
Credit cards ( getting rid of fees and lowering rates)
Best banks
401 k and Roth IRA
Index or target day funds ( so you can stack cash until you are an old head and don't get bully into a reverse mortgage)
Paying off debt
Systems ( you can use from envelopes, automation or software like )
Conscious spending
The FIRE movement
The YALE method of a*set allocation
How to help parents with debt
Negotiating your salary
Car buying
House buying
Weddings
Prenups


It even has a word for word scripts for when you have to pull up on some of these companies and it doesn't start off with the lame .... You been a bad boy now go write a stankin budget.


Last edited by bxdiplomat; 01-11-2020 at 12:42 PM..
+9   
 1 month ago '09        #27
Zaosyn  OP
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 LILHAITIBABYYY said
All these financial books taught me that I have compose a book with basic financial advice so that I can be rich myself
You would be very surprised at what you can do with the good fundamental knowledge of the basics of anything. There's more people willing to buy a book, video course or real life course to learn the basics than there are people who want to learn the more advanced stuff that requires all the education and years of experience to properly teach.

For example, let's take coding as an example. You wanna know what the most popular coding courses are that people buy on Udemy ? Beginner ones. There's thousands of beginners who want to learn the basics every day that are throwing their money to people who are good teachers and can explain the basics in a way that they can understand. Look at Dave Ramsay, IMO most of his advice I have seen seems to be geared towards beginners and he knows the basics so well he can teach it in a way anyone can learn cause he probably has a million different ways to explain the basics.
+5   
 1 month ago '17        #26
Brother Sloan  topics gone triple plat - Number 1 spot x9
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 Strong Side Iso said
Rich Dad Poor Dad had some gems. Here's one:



In the world of accounting, there are three different types of income:

1. Ordinary earned

2. Portfolio

3. Passive

Rich dad used to say, “The key to becoming wealthy is the
ability to convert earned income into passive income or portfolio
income as quickly as possible.” He would say, “Taxes are highest on
earned income. The least-taxed income is passive income. That is
another reason why you want your money working hard for you. The
government taxes the income you work hard for more than the income
your money works hard for.”




Book changed my life bro
+5   
 1 month ago '17        #25
Rickter1 
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I'm fairly new to this section of BX, starting to be my favorite learning from you guys. I'm reading Rich Dad Poor Dad, never even heard of it until a BX member mentioned it in another thread. Book is fascinating, I'm at the part where they are starting the comic book business.

Amazing stuff, can't wait to finish the book. I'm looking at things totally different and am excited to learn more. I swear in reading this I'm guilty of having the poor dad mentality.
+5   
 1 month ago '07        #24
pete jr 
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 Madmax said
Richest Man in Babylon
Meant to prop. Read that this year. As a man thinker is another good one.
+5   
 1 month ago '18        #23
LILHAITIBABYYY  topics gone triple plat - Number 1 spot x3
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All these financial books taught me that I have compose a book with basic financial advice so that I can be rich myself
+5   
 1 month ago '17        #22
92baby 
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 Rickter1 said
I'm fairly new to this section of BX, starting to be my favorite learning from you guys. I'm reading Rich Dad Poor Dad, never even heard of it until a BX member mentioned it in another thread. Book is fascinating, I'm at the part where they are starting the comic book business.

Amazing stuff, can't wait to finish the book. I'm looking at things totally different and am excited to learn more. I swear in reading this I'm guilty of having the poor dad mentality.
I try to read at least 20 pages a day got to page 90 in like 4 days
+4   
 1 month ago '07        #21
Monroe200 
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Richest man in Babylon
Think and grow rich
The millionaire next door
+4   
 1 month ago '16        #20
BobbiHeadRagTop  topics gone triple plat - Number 1 spot x1
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which books? The ones I didn’t make at the spade table
+4   
 1 month ago '07        #19
pete jr 
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 dinono10 said
Main thing I got from this (audiobook) was to pay yourself first at least 10%. Good book though
I got so many gems from it. Like taking advice from people who have been successful in the industry you’re pursuing. Putting money in places where it has an opportunity to grow. It’s a cool book.

Reading more books about rei since I’ve been in that space for a while.
+3   
 1 month ago '18        #18
dinono10 
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Dave Ramsey money makeover - paid off my student loan last year after reading it last January. Even listened to his podcasts every day in the car. Good stuff although he preaches the same steps /message everyday.

Rich dad poor dad - can't argue with this. a*sets/liability etc.. Very good book also.

Not sure what book to read next in finance. I overpay my mortgage monthly invest monthly into my Vanguard account. No debts other than my crib. Where do I go from here?

Got 3 months worth of savings so I guess according to Dave.. I need to get 6 months of savings.

Good thread.
+3   
 1 month ago '16        #17
Strong Side Iso 
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Rich Dad Poor Dad had some gems. Here's one:



In the world of accounting, there are three different types of income:

1. Ordinary earned

2. Portfolio

3. Passive

Rich dad used to say, “The key to becoming wealthy is the
ability to convert earned income into passive income or portfolio
income as quickly as possible.” He would say, “Taxes are highest on
earned income. The least-taxed income is passive income. That is
another reason why you want your money working hard for you. The
government taxes the income you work hard for more than the income
your money works hard for.”




+3   
 4 weeks ago '19        #16
Seanauguste 
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Why We Want You to Be Rich: Donald Trump and Robert Kiyosaki
+3   
 1 month ago '16        #15
Madmax 
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Richest Man in Babylon
+3   
 1 month ago '12        #14
Legit Jones 
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The Millionaire Next Door is another good one
+3   
 1 month ago '06        #13
bxdiplomat 
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 Zaosyn said
You would be very surprised at what you can do with the good fundamental knowledge of the basics of anything.

Lil Haiti is being a d*ck head.

Like really, people are having trouble with planning where to put their cash.

Should they start going into more advanced topics like estate planning and esoteric tax loopholes?

With what money. Not enough to work with those types of people.

Even crazy rich n*ggas have to practice the fundamentals ... they just have more room to explore new options.


I would loosely say that most markets of advice are in the range of:

80% beginner
15% advance
5 % rare

So beginners will probably eat the most.

Then the gems start to decline, but that is ok since by then you should be in different rooms getting said rare advice.

But hey, we will always have a nut ---- like yea, yeah, I know this. I have 4 bucks how do I get put on to the Panama papers or tax havens.


Last edited by bxdiplomat; 01-14-2020 at 08:59 AM..
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 1 month ago '04        #12
Ace2125 
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Rich dad poor dad
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 1 month ago '18        #11
dinono10 
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 pete jr said
Meant to prop. Read that this year. As a man thinker is another good one.
Main thing I got from this (audiobook) was to pay yourself first at least 10%. Good book though
+2   
 1 month ago '07        #10
N.O.4Life  topics gone triple plat - Number 1 spot x3
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The Power of Habit-Not really about money but it’s more about self discipline.Lot of jewels

Power of Awareness-Lot of gems as well

Rich Dad Poor Dad

36 Laws of power


Pretty much you can equate any situation to business and money.Its all about perspective
+2   
 1 month ago '18        #9
DUCEDUCE 
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read this book asap
+2   
 3 weeks ago '17        #8
2007 
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Millionaire next door!
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 1 month ago '18        #7
dinono10 
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 Legit Jones said
The Millionaire Next Door is another good one
How does this compare to Money makeover? Is there anything new to learn
+1   
 1 month ago '18        #6
Armstrong 102 
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I’m reading Rule #1
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 4 weeks ago '19        #5
Seanauguste 
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Think Like a billionaire - Donald Trump
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