July is the 4th consecutive month that I’ve focused on personal finance for my best books to read while traveling list. My April book list kicked off my personal finance journey, and I continued that trend in my May book list and June book list.
In my January book list, February book list, and March book list, the topic was negotiation. I read several powerful books in this category over those 3 months. If you’re in need of negotiation books, hopefully you’ll find value in the ones that I read.
July was another productive reading month. I read 5 books, 3 of which I would recommend that you pick up. Each book has helpful advice, so you can’t go wrong if you decide to read all 5.
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Top 5 Best Books to Read While Traveling
The Millionaire Next Door
In The Millionaire Next Door, Dr. Thomas J. Stanley walks you through the common traits he’s observed amongst millionaires. What was a surprise to me what just how frugal this group is. From cars to houses, millionaires interviewed in this book lived within their means. This was one of the main reasons how this group accumulated wealth.
The most important takeaway for me was the data. Stanley shows you how the largest expenses in your life eat away at your wealth. Most non-millionaires spend a lot of money on cars and houses. Millionaires on other hand spend very little, compared to their overall wealth, on these high ticket items.
One of the downsides of The Millionaire Next Door is that it’s not necessarily an actionable book. There is no blueprint or plan for exactly how to obtain wealth other than spending less.
Recommend: Yes
Rich Dad’s Guide to Investing
Rich Dad’s Guide To Investing is one of my favorite Robert Kiyosaki books to date. This book showed me how much of a tax advantage business owners have compared to employees. Instead of paying your taxes first and then your expenses, business owners pay expenses first and then taxes.
This book is chalk full of helpful advice. The one that stood out to me was taxes. Being able to invest first, and then pay taxes on your net income blew me away. Now I can see how business owners are able to get ahead with the way they pay taxes.
If you’re not looking to become a business owner, there’s no reason to read Rich Dad’s Guide To Investing. The book is geared solely on those who are either looking to transition from employee to business owner or to start a side-business while employed.
Recommend: Yes
Rich Dad’s CASHFLOW Quadrant
A second Robert Kiyosaki book that I finished in July was Rich Dad’s CASHFLOW Quadrant. This book focus on your personal income statement, balance sheet, and taxes. He uses pictures to show how money flows to help you understand the difference between an asset and liability.
The main takeaway for me is that your house is a liability, not an asset. When I saw how the cash actually flows with your mortgage, I realized I had it all wrong. What I was told growing up about your house being an asset simply isn’t true.
What I wanted to see more of is details. For example, Kiyosaki talks about Tax Lien Certificates. However, he provides no details other than you can earn 16% on your money. There are other examples like this throughout Rich Dad’s CASHFLOW Quadrant. I think going into granular detail on how to make money would make this book even better.
Recommend: Yes
Your Money or Your Life
Vicki Robin’s Your Money or Your Life is a 9-step program with the goal to help you change how you think about money. The program focuses on eliminating your debt, increasing your savings, and investing your savings.
The book does a nice job showing how important it is to invest in index funds, how to track your spending, and why you should start a side business. It’s helpful to see these topics pop up in yet another personal finance book.
Your Money or Your Life falls short in that it’s not actionable. Even when I went back through my highlighted text, there were no takeaways for me. The 9-step program is clear but I wasn’t able to find anything that I didn’t already know.
Recommend: No
The Richest Man in Babylon
The Richest Man in Babylon is about the Babylonians thinking on wealth. Clason shows you this thinking through the use of parables. From the stories of merchants and tradesmen, you’ll see how to reduce your debt, earn more, invest, and protect your assets.
What I found most helpful is the way the financial message was delivered. It’s completely different than every other personal finance book that I’ve read. The parables will help you to see a different side of finance and investing.
I’m sure this will not be a popular opinion, but I couldn’t get into the The Richest Man in Babylon. It’s a book that I should have put down 50 pages in. I found it extremely difficult to read (I’m not a strong reader). The messages are good ones but I had trouble comprehending the text because of the way it’s written.
Recommend: No
Which Books are in my Shopping Cart?
I’m nearing the end of personal finance books that I’ve purchased. There are 3 left in my queue that I’m excited to tackle.
Personal Finance Books to Read while Traveling
- MONEY Master the Game by Tony Robbins
- Bogle On Mutual Funds by John Bogle
- Common Sense on Mutual Funds by John Bogle
If personal finance isn’t your thing, I’ve got a list of non-personal finance books that I’m looking forward to reading in the near future.
Miscellaneous Books to Read while Traveling
- Bad Blood by John Carreyrou
- 12 Rules for Life by Jordan Peterson
- Can’t Hurt Me by David Goggins
- Capital Gaines by Chip Gaines
- Upstairs at the White House by J.B. West
- Thinking Fast and Slow by Daniel Kahneman
- Homo Deus by Yuval Noah Harari
- Tribe by Sebastian Junger
- Never Eat Alone by Keith Ferrazzi, Tahl Raz
- The Talent Code by Daniel Coyle
Conclusion on the Best Books to Read While Traveling:
Reading is a skill that I’ve continued to work on by focusing on books that peak my interest at the time. Hopefully my best books to read while traveling list includes books that you’ll find interesting and enjoy too.
What about you? What books did you read while traveling this month? Do you have any book recommendations? Please let me know in the comments or by sending me an email on my contact page.
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