Financial management is all about the management of finance-related derivatives properly. Personal Finance is a part of financial management that includes proper study and management of assets, insurance, savings, and investments. If you can manage your finances, then you will get stability and balance regarding money. Stable personal finance results give you long-term investment goals. Everyone can learn this skill to save, invest and grow money by collecting knowledge and guidance from magazines, finance-related books, blogs, and many mobile apps that will help you manage your process conveniently. So if you are curious about how personal financial management is carried out for your savings, then go through this article. You will surely get the best books and apps which enhance your knowledge and learning in personal finance.
5 Best Books for Personal Finance
- Rich Dad Poor Dad (Author: Robert Kiyosaki)
This book is written by the famous author Robert Kiyosaki. If you are thinking about to start reading finance-related books, then you must read this book first. This book gives importance of finance and let you know the actual meaning of financial freedom for any person. I think this book teaches you the most complex things and concepts simply because it is in the form of a story that makes you curious, and ultimately, things get simple. One of the famous and best line from this book is ‘Make it Simple Stupid!’
- The Total Money Makeover (Author: Dave Ramsey)
This is one of the Bestseller books in the New York Times. It helps readers to clear their thoughts about their spending
your money habits and how to control it. Many people who read this book late wish that they had it in their 20s because it clears all your financial plans up to retirement by teaching self-discipline and the importance of money management.
- I Will Teach You to Be Rich (Author: Ramit Sethi)
This is the best personal finance book to read in your 20s. It gives you step-by-step knowledge about financial terms like saving, investing, spending, and budgeting your money wisely. If you can apply the lessons in the book to your financial journey, you will surely get the best results from it.
If you start your career as an entrepreneur, this book is a practical handbook for your journey because this book gives you lessons about personal entrepreneurship.
- Psychology of Money (Author: Morgan Housel)
Psychology of Money is an essential book for those who try to learn how to manage money and related things. This book involves the short stories of financially successful people and their thoughts about money management. The book teaches one of the important lessons: not every finance decision is calculated on a spreadsheet but can be managed with practical thoughts and thinking processes that wealthy people do.
- The Millionaire Next Door (Author: Thomas Stanely and William Danko)
Future millionaires are getting ready in today’s millennial population. If you have to become financially free and rich, you must change your behavior, habits, and thinking process like the wealthiest people in the world. This book shares the secrets about the thinking and habits of America’s wealthy people, which let you know what rich people think like. Common traits and habits in wealthy people are accumulated in the lessons of this book. So you must read this to apply these valuable lessons in your financial life.
5 Best Magazines for Personal Finance
- The Economist
The Economist is not just a magazine; it gives all-round information regarding each financial perspective to raiders worldwide. It is one of the famous British Finance magazines. It covers all news and current updates about startups, investments, tax management, and advice for financial stability. So if you refer to this magazine, it will become easy to handle your assets and money wisely.
Money Magazine is an American finance-based magazine that publishes content to help people manage their personal finance and offers them strategies. The magazine aims to empower people to manage their personal finance more easily. This magazine provides an education and learning about meaningful investments and joyful financial life.
- Inc Magazine
If you are a good reader, this magazine gives you more useful information. Inc publishes articles on business ideas, advice for financial stability, growing money strategies, and successful people’s stories, giving you all-around updates from the world. This magazine is published six times a year.
- Money Observer
Money Observer Magazine gives you all essential knowledge about personal finance and investment strategies and updates that enrich your knowledge, and you can apply it to your finances. This monthly personal finance magazine publishes sections and articles related to the growth of money and the easiest way to understand terms in finance management.
- Outlook Magazine
This is India’s number one magazine which publishes essential knowledge related to mutual funds and stock investments. It covers business, the money market, personal finance, and Indian news. So, this one is good to refer to enhance your finance knowledge.
5 Best Apps for Personal Finance Management
- Personal Capital
Personal Capital App is the best solution for money management and investments, so it is one of the best options for wealth management. But in this app, you have to pay their fee or charges for managing your money and investments; otherwise, this is best if you free your mind from this tedious management. This app gives you a simple and free budgeting tool.
The best advantage of this app is that you can manage your money and spend it for free. This is full of features that help you track your money spending and manage your expenses wisely. Sometimes so many pending bills disturb our important work so that you can manage them conveniently with this app.
The Spendee app has amazing features and tracking tools by which it manages your finances so wisely. This app manages not only your finance and bills but also your family. So it is easily accessible for your family members to use it. It offers you free for use, but while upgrading the app, you have to pay their normal charges.
- Every Dollar
Every Dollar app helps to save and manage your every Dollar and offers you a detailed approach to budgeting your money. This app gives you advice and access to cash by management experts. It also has a monthly expense tracker, which allows you to connect with your bank and manage your transactions more easily. Every Dollar takes fees for their service.
Prism app takes all your load and headache of bill payment and manages all your expenses and bills in one place. It shows all your bills and financial accounts in one app, which becomes easy to manage your monthly payments and transactions. Prism tracks your bills and sets reminders for them, saving you from late payments.