Yahoo Finance Dave Ramsey: 10 Books He Recommends That Will Make You Rich
If you’re looking to build wealth, you’ll want to learn from the best by reading books that have helped others on a similar journey. The good news is that there’s no shortage of helpful books out there.
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Here are ten books that Dave Ramsey recommends to help you get rich, as listed in the Ramsey Store.
‘The Total Money Makeover’ by Dave Ramsey
This book is at the top of the list. Ramsey’s “The Total Money Makeover” is known for the baby steps, which have helped readers pay off debt and get their finances in order.
The baby steps are:
Save $1,000 in a starter emergency fund.
Pay off all non-mortgage debt.
Save three to six months’ worth of living expenses in your fully funded emergency savings.
Invest 15% of income into retirement.
Save for your children’s college education.
Pay off your home mortgage early.
Build wealth and donate generously.
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‘The 7 Habits of Highly Effective People’ by Stephen R. Covey
This book has become a staple in the productivity community, as Covey shares the habits that help you get things done. This is the manual if you want to become more productive and manage your time effectively.
The seven habits are:
Be proactive.
Start with the end in mind.
Put first things first.
Think win/win.
Seek first to understand, then to be understood.
Synergize.
Sharpen the saw.
‘Think and Grow Rich’ by Napoleon Hill
This book is ideal for anyone looking to learn from some of the most successful people in history about mindset and accomplishing what you want in life. The original book was published in 1937 and contains timeless principles for achieving goals. Hill taps into the story of brilliant minds like Thomas Edison, Henry Ford and Andrew Carnegie to share his principles.
‘Good to Great’ by Jim Collins
This best seller is known in business communities as a must-read for leadership teams. Collins shows how you can turn a good company into a great one in simple terms.
The book examines the findings of a study that digs deep into the various levels of management strategy. Some of the key topics include:
The type of leadership that’s needed to achieve greatness
The significance of a culture of discipline
The importance of getting the right people on board in your company
The “Hedgehog Concept” — the value of becoming proficient at one thing.
‘The Richest Man in Babylon’ by George S. Clason
Dave Ramsey wrote the foreword for the updated version, as he has recommended this book for years. It’s a collection of inspiring stories about people who overcame financial problems, but it’s set in Babylon.
You can find timeless advice regarding paying off debt, struggling with paycheck-to-paycheck living and other common financial issues in this book. The book covers the seven rules of money and the importance of seeking wealth. You’ll learn about getting out of debt, budgeting, living on less than you earn, investing wisely, saving for the future and enjoying your life.
‘Who Moved My Cheese?’ by Dr. Spencer Johnson
This book is for those struggling with change and experiencing evolving times. It is a quick read, filled with insights for those looking to manage change better. The author uses four characters living in a maze looking for cheese as a story to help the readers understand human nature better.
‘The E-Myth Revisited’ by Michael E. Gerber
Ramsey recommends this book for anyone who has ever considered starting a business. The updated version of this best-selling book breaks down common myths about starting a business with revised examples. The book will take you through the various stages of a business life cycle.
This book is also known for sharing the differences between working on your business and working in your business. The author shares how common assumptions and expectations could prevent someone from running a successful business.
‘How to Win Friends and Influence People’ by Dale Carnegie
This book is one of the best networking books for those looking to improve their social skills or make more friends. As the title suggests, you’ll learn about how to positively influence those around you and how to navigate the corporate world.
Some of the topics discussed in detail include:
Techniques for handling people
How to get people to like you
How you can win people over to your way of thinking
How you can get people to change without having them resent you
This book will help you build wealth, because a key component in the process is your income, and you can’t increase it unless you advance in your career.
‘Dave Ramsey’s Complete Guide to Money’ by Dave Ramsey
Another book of Ramsey’s, this one covers all the steps for those seeking to control their finances, and it’s likely his most detailed guide on the subject.
The topics include:
The seven steps for financial freedom
How to set a budget, pay off debt and start saving
The role of marketing gimmicks
How to plan for college and retirement
The types of insurance you’ll have to spend money on
Details on buying and selling real estate.
‘Smart Money Smart Kids’ by Dave Ramsey and Rachel Cruze
Ramsey and his daughter worked together on this book, which provides practical advice on raising money-smart children in the current environment.
The book offers tips on teaching your children lessons on the value of hard work, how to save, where the money comes from, avoiding debt, living responsibly and so on. This book will help you get rich by teaching you to raise financially literate children — who hopefully won’t have to rely on you by the time you’re approaching retirement.
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