Finance is a crucial yet complicated thing to understand. Whether we are running a household or a whole company, we need to know how finances work and what we can do to make things financially better. If you don’t have an academic background with finances as one of your subjects, then you might feel overwhelmed just thinking about finances. But there is always some time to learn new things and educate yourself for the better.
Thankfully, there are many books written on finances that can help you understand financial management and how you can manage your own finances too. We have selected the top 5 financial management books for you, so go ahead and take a look at the following;
1. Financial Management: Theory and Practice
Author: Dr.Eugene F Brigham and C. Micheal Ehrhardt
Financial Management is the book you get started with when you want to learn about finances. No matter what your academic background is, this book starts with very basic concepts and then moves forward gradually to make you understand some complex concepts.
The book is written by a graduate research professor who has taught the subject for several decades. It is written nicely as an introductory book for financial management so that anyone can easily read and understand.
The book starts with theory, and then offers several examples to make you understand the concept. Lastly, it also allows you to take a self test so you can easily learn about finances and be confident about it. With this book you will learn about the basic understanding of finances as well as some core strategies that can be implemented in the corporate world to manage finances. Overall, this is a must read book to start your journey of finance management!
2. Fundamentals of Financial Management
Publisher: Brigham Houston
Fundamentals of Financial Management is another great book to read if you want to learn from the beginner level. The book comes with the latest financial theories along with some applications to be applied in the real corporate world. Here, you will learn the correlation of Time and Value of Money (TVM) which is an important basic concept for financial management.
Case studies are also included in the book to give you a better understanding of the subject. Overall, it’s a great book to learn corporate budgeting, financing, and working capital making decisions.
3. When Genius Failed: The Rise and Fall of Long-Term Capital Management
Author: Roger Lowenstein
Sometimes we learn more from the failure stories than from the successful stories, and this is why When Genius Failed is such a great financial management book to read. The book follows the story of very famous Wall Street trader John Meriwether who is considered as one of the smartest people in the industry. The story showcases the concept of greed and hubris and how even one of the smartest people can fail.
The story follows the case of hedge funds and the rise and fall of the market. This is a great understanding of the stock market as well. It’s a well written book that will engage you with the story as well as teach you the basic understanding of wall street finances.
4. The Barefoot Investor
Author: Scott Page
The Barefoot Investor is another great book to get started with your personal finance journey. Written by one of the most trusted personal finance experts in Australia, the book has sold 2 million copies world wide.
The author comes from a farmer family and despite this he achieved success in the stock market. The author describes the journey of taking charge of your money and growing it. He has taught this lesson with three stages of money management, planting, growing, and harvesting. The book is an ideal read for beginners with its simple writing and good guidance.
5. The Total Money Makeover: A Proven Plan for Financial Fitness
Author: Dave Ramsey
With The Total Money Makeover, you will learn the basic understanding of getting out of debt and becoming financially stable by following some baby steps. It’s also a beginner friendly book that teaches readers about the major financial events and how to utilize them to become financially stable.
This book is more like a guide for changing money habits and utilizing the best of what you have. It features successful stories of individuals who have learned budgeting their money to become debt free and achieve stability. Undoubtedly, it’s a great book to read to learn about personal finances.
Summary
These financial management books are considered as the best ones in the market which can help you learn the most basic to moderately complex concepts of financial management. The books are written by some of the top professors in the world in the financial field. Finally, if you want to start your journey with financial management books then these should be ideal for you!