There has never been a better time to start reading personal finance books. With the pandemic and the excessive numbers of jobs lost, Canadians are looking for ways to become independent and start a business of their own. The first thing to do is to gain knowledge in business and finance.
We all desire financial freedom, even without having prior financial knowledge. Most times, we mismanage our finances because we don’t have the right financial experience. Financial literacy is a very crucial aspect of everyone’s life.
Financial Literacy
Financial Literacy is the ability to grasp and understand how money works, how to make money, how people make money, and how to manage and invest. You need an in-depth knowledge of financial literacy to fully understand how money works and how you can use it t your advantage.
To understand money and finance, you must understand the common financial literacy principles like; financial goals, budgeting, investments, contracts, employment models, etc.
The good news is you don’t have to go to a business school or have a finance degree to be financially liberated. There are hundreds of thousands of books on financial literacy that can aid your learning process.
These books teach you how to navigate the business world and its mazes. It will also help you to be business savvy. These books also range in levels; for beginners, professionals, and experts.
If you want to start a business in Canada and need basic knowledge or even advanced financial knowledge, these are the 20 best financial literacy books for Canadians.
Top Financial Literacy Books
1. Rich Dad, Poor Dad By Robert T. Kiyosaki
The bestselling book that has been making waves for 20 years, Rich Dad, Poor Dad, is a story about the author’s two dads; his birth father, who wasn’t rich, and his wealthy best friend’s father.
This book narrates how both men influenced the author’s thinking about money and investing. This 336-page book is excellent for people who do not know about financing and budgeting. It takes readers on a journey of financial literacy.
2. A Beginner’s Guide To The Stock Market By Matthew R.Kratter
If you are looking to invest or go into the stock, A Beginner’s Guide to the Stock Market is for you. This book gives a detailed explanation of how to make money in the stock market for a first-timer.
You will also learn insider tricks used by professional traders, how to buy your first stock, and so much more. It is a 98-page book that is definitely worth the buy.
3. Think And Grow Rich By Napoleon Hill
Think and Grow Rich is a wealth-building classic and an all-time bestseller. You can learn some secret tips on how to make your fortune with this book. The book doesn’t just show you what you need to do but also how you should go about it. It is a 256-page book inspired by Andrew Carnegie’s magic formula for success.
It is available in seven formats and free in two (Kindle and Audible audiobook).
4. The Intelligent Investor By Benjamin Graham
Initially published in 1949, The Intelligent Investor is a 640-page book that has made over a million copies. The author teaches the philosophy of ‘value investing’ in this book. These values are to protect investors from making mistakes and teach them how to develop long-term strategies.
The author focused more on minimizing loss rather than maximizing profit. It is a practical book and arguably the most insightful book on investing.
5. Personal Finance For Canadians For Dummies By Eric Tyson And Tony Martin
Personal Finance for Canadians is a 512-page book that empowers readers with the right tools to take charge of their financial life. This book is a thorough and straightforward guide that gives practical references to situations, even on rainy days. It includes up-to-date Canadian examples and references. It also offers tips on how to eliminate debt and much more.
6. Stock Investing For Canadians For Dummies By Andrew Dagys And Paul Mladjenovic
Stock Investing for Canadians equips you with credible information on stock investing for different markets, goals, styles, and life stages with recent developments directly from the real world of stock investing. The 432-page book gives you a valuable Canadian perspective on stock investing in a simple and easy-to-understand language, especially if you are a novice.
7. Never Split The Difference By Chris Voss
Written by a former internal hostage negotiator for the FBI, Never Split the Difference takes you through the world of high-stakes negotiations. In the 228-page book, the author shares nine practical principles you can use to become more persuasive not only in business but in life as well.
It is available in six formats and is free in the Audible audiobook format with an Audible trial.
8. How To Day Trade For A Living By Dr. Andrew Aziz
How to day trade explains the fundamentals of day training and how it differs from other trading styles and investments. It also gives beginners an understanding of where to start, how to start, and how to develop strategies. The 328-page book is very informative and straightforward.
9. The Richest Man In Babylon By George S. Clason
The Richest Man in Babylon is a timeless classic based on the famous ‘Babylonian parables.’ The 144-page masterpiece touches the subjects of thrift, financial planning, and personal finance.
The author uses a storytelling narrative style to share the captivating story. This book is available in five formats; it is free in the Kindle edition and Audible audiobook format.
10. The Simple Path To Wealth By J.L Collins
The Simple Path to Wealth is a thrilling book born out of a series of letters from the author to his daughter, mainly about money and investing. This book explores debt issues, how to perceive money, wealth building, wealth preservation, and many more.
11. Millionaire Teacher By Andrew Hallam
Anybody can invest, but how do you ensure you’re investing smartly? Millionaire Teacher is a 252-page book that teaches you how to achieve financial independence through smart investing.
The author teaches you the economic fundamentals you need to follow. It also helps you know how to find the right kind of financial advisor. It focuses on how to build a healthy financial future.
12. Principles By Ray Dalio
In the book Principles, the author shares what he has learned throughout his career as the founder of a highly successful investment firm. It offers a clear and vivid approach to decision-making. The 526-page book is straightforward, insightful, and well-organized.
13. Technical Analysis Of The Financial Markets By John J. Murphy
Technical Analysis of the Financial Markets covers the latest developments in computer technology, technological tools and indicators, aftermarket relationships, and many more. It is essential for anyone interested in tracking and analyzing market behaviour. The 576-page book teaches you concepts of technical analysis and how to apply them in stock markets. It is suitable for every reader.
14. The Book On Rental Property Investing By Brandon Turner
This book will open your mind to the four unique and easy-to-follow strategies for real estate investing. The Book on Rental Property Investing contains up-to-date and practical information you will need to be successful in the world of real estate investing.
15. Warren Buffet: 43 Lessons for Business & Life By Keith Lard
Warren Buffet is an 88-page book that presents you with 43 of the most valuable and inspiring life lessons of one of the most successful investors of all time who is still very active and on top of his game. These lessons are relating to investment, human relationships, and overall betterment. It is concise and straight to the point.
16. Starting And Running A Small Business For Canadians For Dummies By Andrew Dagys, Margaret Kerr And Joann Kurtz.
Starting and Running a Small Business for Canadians is an all-encompassing guide that gives you everything you need to know about running a successful small business in Canada. The 640-page book teaches you how to define your target market, create the perfect business plan, and other essential things you need for your small business success.
17. Accounting For Canadians For Dummies By John A. Tracy And Cecilé Laurin
Accounting for Canadians explains what you need to know in a simple and easy-to-understand language, from accounting basics to advanced topics. It also includes the latest regulations in all aspects of the Canadian economy. This 384-page book gives you the basics without any headaches.
18. Bookkeeping For Canadians For Dummies By Lita Epstein And Cecilé Laurin
Another book in the For Dummies series, Bookkeeping For Canadians, is a 384-page book that gives you a thorough insight into creating financial statements and operating accounts for businesses. It also teaches you how to recognize assets and liabilities in a company. This book is one handy guide for small business owners or anyone who yearns for financial literacy.
19. Buying And Selling A Home For Canadians By Douglas Gray And Peter Mitham
Buying and Selling a Home for Canadians explains what you need to know about mortgages, what is essential about listings, knowing when to sell your home, how to handle appraisals, and many more. It teaches how to navigate the business of buying and selling a home in Canada. It is a 432-page book that is informative and insightful.
20. Getting To Yes By Roger Fisher
Getting To Yes is a step-by-step guide on how to negotiate successfully with anybody at any level. It teaches you how to focus on interests and not positions. And how to handle business or professional disputes without getting angry or getting taken. This 240-page book is inclusive and persuasive; a must-read if you want to learn the art of win-win negotiations.
These books and many more will guide you in your quest for financial literacy; however, you must apply all the lessons taught and learned to see the desired results.
