7 Inspiring Financial Freedom Books (That Will Change Your Life) (2024)

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We spend most of our life earning money, but how much time do we actually spend learning about how to manage it?

Become financially savvy by reading these inspiring financial freedom books.

One of the most important things I did in the past 5 years was spend time reading books to help me escape from a life that I didn’t enjoy.

I would wake up early every day, spend 10-12 hours in a dark office, and go home tired, only to start again the next day.

Reaching financial freedom has truly changed my life.

Can you imagine having enough money to be able to live the life you want without having to go to work every day?

These books will set you on your own path to becoming financially free.

By investing in yourself and in your knowledge, you’ll finally stop worrying about money and actually use it as an instrument to build your wealth.

When I read the first of these books and then discovered the others, I didn’t know how much they would help me towards embracing happiness and follow my true dreams.

I hope you will find them as inspirational and life-changing as I did.

Also read, 13 Best Financial Literacy Books To Grow Your Wealth.

My favorite Financial Freedom Books

1. The 4-Hour Workweek

Tim Ferris is a great entrepreneur. He has sold millions of books and has aninspiring podcast.

I read the Kindle edition of The 4-Hour Workweek on a wonderful beach in Sicily. I hated my job, I was working more than 60 hours a week, and I just wanted a way out.

What I loved about this book is how Tim inspires you to work smarter and not harder. It also encourages you to just stop thinking and start doing. I also embraced his idea of taking mini-retirements during your life. Not all of us want to quit our jobs, but finding the right balance between work and life is essential to be happy!

This book helped me to understand that it is possible to escape the 9 to 5 and create streams of passive income to support your life without being chained at your desk every day!

My favorite quote:

“What would you do if there were no way you could fail?” By Tim Ferris

2. Rich Dad Poor Dad

In Rich Dad Poor Dad, Robert Kiyosaki talks about how he grew up and learned about money from two very different dads (one was the father of his childhood friend).

The very different ideas of his not-so-wealthy dad compared to his wealthy dad’s friend reveal very different ideas on life and wealth.

This book made me realize how important financial education is and how little we are taught about it when we are young.

The difference between assets and liabilities and the importance of having money working for you instead of you having to work for money is the biggest lesson I learned from Rich Dad, Poor Dad.

My favorite quote:

“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” By Robert Kiyosaki

3. The Magic of Thinking Big

The first edition of this book by David J Schwarz is quite old. It was first published in 1959, but there is a reason why over 6 million people have read it and loved it: its message is as relevant today as it was back then.

The book is all about self-confidence, removing negativity, and the importance of believing in yourself. Only by thinking big and surrounding yourself with positivity, you can achieve happiness!

Why limit yourself?

My favorite quote:

“Believe it can be done. When you believe something can be done, really believe, your mind will find the ways to do it. Believing a solution paves the way to the solution.” By David J Schwarz

4. The Millionaire Next Door

BY THOMAS STANLEY AND WILLIAM DANKO

A great insight into who the real millionaires are – people that live well below their means and achieve great wealth through hard work and savings.

Thomas Stanley interviews hundreds of millionaires, and they couldn’t be more different than what you think. They won’t often come from Hollywood, but they are often living next door.

Truly inspirational if you aim to be a millionaire yourself one day.

My favorite quote:

“Wealth is not the same as income.”By Thomas Stanley

5. The Simple Path to Wealth

I have always been terrified of investing in the stock market as I am the worst gambler in history.

Once I went to Vegas and couldn’t even bring myself to play at one of the tables. I have always seen investing in stocks as gambling and stayed well clear of it for ages.

Then I discovered Index Investing, Vanguard, and The Simple Path to Wealth.

I can’t say I am now a great investor, and I am still worried about the market being overvalued, but this book from Jim Collins gives you a great insight into Index Investing and the reasons why it has worked for so long.

If you want your money working for you, you are looking for a simple approach, and you don’t want to play with risky strategies, this book is for you.

It’s been one of the best, easy-to-read financial freedom books I’ve read to help me in my investment journey.

My favorite quote:

“There are many things money can buy, but the most valuable of all is freedom. Freedom to do what you want and to work for whom you respect.”By Jim Collins

6. The Bogleheads’ Guide to Investing

Another straightforward guide to investing that will advise you on how to lay the foundations to create long-term wealth.

This book focuses on passive investing strategies based on investing in low-cost index funds.

It’s a great guide if you have managed to save money but aren’t sure about how to invest it meanwhile wanting a solution that won’t let you lose any sleep over it.

My favorite quote:

“A 25-year-old who invests $5,000 in a Roth IRA once a year for 40 years reaches age 65 with a tax-free fortune of $1,625,149.”By Tailor Larimore

7. Financial Freedom

I was fortunate enough to read one of the final drafts of this book before it was published. Grant is an amazing blogger who managed to go from $2.26 to over $1 million in only 5 years.

Financial Freedom gives you everything you need to start living a better life!

I love when Grant says:

“Making a lot of money isn’t the point. Time is!”

You cannot buy time back, and by learning how to manage your money in the best possible way, you can buy your freedom!

This book will teach you everything you need about side hustles, hacking your 9 to 5, investing, saving, and more.

My favorite quote:

“Making a lot of money isn’t the point. Time is!”By Grant Sabatier

Ready to kickstart your road to financial freedom?

I hope these financial freedom books will inspire you as much as they have inspired me! Start learning today about how you can improve your wealth.

Money isn’t the most important thing in life, but knowing how to manage it will really set you free!

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Free resources and money advice to make money work for you so that you can live your dream life! ♥

7 Inspiring Financial Freedom Books (That Will Change Your Life) (2)

Read More About Financial Freedom

  • 31 Best Passive Income Ideas to Quit Your Day Job

  • How To Reach Financial Freedom in 7 Easy Steps

  • 13 Best Financial Literacy Books To Grow Your Wealth

  • 11 Best Financial Independence Books

7 Inspiring Financial Freedom Books (That Will Change Your Life) (2024)

FAQs

What are the 7 levels of financial freedom? ›

The Seven levels of Retiring Early with FIRE
  • Level 1: Clarity. It's important to know where to start. ...
  • Level 2: Self-Sufficiency. Stand on your own two feet financially. ...
  • Level 3: Breathing Room. ...
  • Level 4: Stability. ...
  • Level 5: Flexibility. ...
  • Level 6: Financial Independence. ...
  • Level 7: Abundant Wealth.

What is the best book on financial freedom? ›

2024 Must-Read Books For Achieving Your Financial Goals
  • "The Family Bank: The Key to Generational Wealth" by John H. ...
  • "The 9 Steps to Financial Freedom" by Suze Orman. ...
  • "The Automatic Millionaire" by David Bach. ...
  • "The Total Money Makeover" by Dave Ramsey. ...
  • "Rich Woman: A Book on Investing for Women" by Kim Kiyosaki.
Jan 24, 2024

How does financial freedom change your life? ›

You can choose the job you want. You can buy the things you want. It also gives you the freedom to make choices based on long-term outlooks. Financial freedom gives you a fresh perspective on life, so you can make decisions based on your values, lifestyle, and life goals rather than purely on money.

What are the 5 steps to financial freedom? ›

5 Simple Steps to Financial Freedom
  • Spend less than you earn. This step is an essential building block for financial independence. ...
  • Pay off your debt. ...
  • Invest as much as possible. ...
  • Make the most of tax-efficient accounts. ...
  • Stay consistent.
Apr 12, 2024

What is the 4 rule for financial freedom? ›

Key Takeaways. The 4% rule says people should withdraw 4% of their retirement funds in the first year after retiring and take that dollar amount, adjusted for inflation, every year after.

What are the 5 pillars of financial freedom? ›

Here's a look at how having a strong command of financial literacy fundamentals empowers you to lead a prosperous life.
  • Budgeting. Start with creating a budget aligned with your financial goals. ...
  • Saving. ...
  • Risk management. ...
  • Borrowing. ...
  • Investing.

What salary is needed for financial freedom? ›

The cost of living comfortably: On average, Americans feel they'd need to earn over $186,000 to feel financially secure or comfortable, a 20 percent drop from 2023 but still more than two times what the average full-time, year-round worker earned in 2022 (about $79,000), according to Census Bureau data.

What is the secret to financial freedom? ›

Make a budget to cover all your financial needs and stick to it. Pay off credit cards in full, carry as little debt as possible, and keep an eye on your credit score. Create automatic savings by setting up an emergency fund and contributing to your employer's retirement plan.

How do I set myself up for financial freedom? ›

If you're looking to pursue financial freedom, here are 9 places to start:
  1. Clearly define your financial goals. ...
  2. Make a budget. ...
  3. Keep working on your financial literacy. ...
  4. Track and analyze your spending. ...
  5. Automate your money. ...
  6. Pay down your debts. ...
  7. See whether investing makes sense. ...
  8. Keep an eye on your credit scores.

How to become financially free in 5 years? ›

A great way to spend less is to pay yourself first. This means when your money comes in (after you've paid your essential bills and outgoings, of course), you put the amount that you've set for your financial freedom goals into savings or debt payments before anything else. Invest in yourself before you treat yourself.

What are signs of financial freedom? ›

Here are 5 other signs of financial independence, and tips on how to attain it:
  • Owning a home. After clothes and food, shelter is the most important necessity for all human beings. ...
  • Planning your children's education. ...
  • Able to pay bills and instalments on time. ...
  • Starting to invest. ...
  • Starting a business.

How to make life-changing money? ›

10 Money Rules To Build Life-Changing Wealth, According to Ramit Sethi
  1. Set aside a one-year emergency fund. ...
  2. Apply the rules of 10 and 20. ...
  3. Pay in full for large expenses. ...
  4. Never question spending on books, appetizers, or charity. ...
  5. Fly business class on flights longer than four hours.
Mar 23, 2024

What is the most important first step toward achieving financial freedom? ›

Set Financial Goals

Everybody dreams about achieving financial freedom. It's a great dream! But a dream without a goal is just a wish. That's why setting financial goals—like getting out of debt or saving up for retirement—is so important on your journey to financial freedom.

What are the 6 steps to control your finances? ›

7 Steps for Taking Control of Your Finances
  • Create a Budget. A budget starts with an inventory of your income and where you're spending it. ...
  • Build a Financial Safety Net. ...
  • Pay Off Debt. ...
  • Invest in Your Future. ...
  • Take Advantage of Tax Breaks. ...
  • Automate Your Savings.
Aug 21, 2023

What are Dave Ramsey's steps to financial freedom? ›

Dave Ramsey's 7 Budgeting Baby Steps
  • Step 1: Start an Emergency Fund. ...
  • Step 2: Focus on Debts. ...
  • Step 3: Complete Your Emergency Fund. ...
  • Step 4: Save for Retirement. ...
  • Step 5: Save for College Funds. ...
  • Step 6: Pay Off Your House. ...
  • Step 7: Build Wealth.
Jun 3, 2024

What are the seven stages of wealth? ›

In this article, we will explore the seven fundamental stages of money: Solvent, Stable, Security, Independent, Freedom, Abundance. Solvent Stage: The Solvent Stage marks the beginning of one's financial journey. At this stage, individuals focus on meeting their basic needs and becoming debt-free.

What are the 5 levels of personal finance? ›

5 Areas of Personal Finance
  • Income. In many ways, income is the first building block of personal finance. ...
  • Spending. If income is your incoming cash flow, spending is your outgoing cash flow. ...
  • Savings. Simply put, savings is the portion of your income that is not spent. ...
  • Investing. ...
  • Protection.

What are three of the 7 components of financial literacy? ›

The Components of Financial Literacy
  • Budgeting. Budgeting is the process of creating a plan for your income and expenses. ...
  • Saving. Saving involves setting aside a portion of your income for future needs or emergencies. ...
  • Debt Management. ...
  • Investing. ...
  • Retirement Planning. ...
  • Taxes. ...
  • Financial Products and Services. ...
  • Financial Planning.
Sep 21, 2023

What are 10 steps to financial freedom? ›

10 Steps to Achieve Financial Freedom
  • Understand Where You Are At. You can't gain financial freedom if you do not have a starting point. ...
  • View Money Positively. ...
  • Pay Yourself First. ...
  • Spend Less. ...
  • Buy Experiences Not Things. ...
  • Pay Off Debt. ...
  • Create Additional Sources of Income. ...
  • Invest in Your Future.

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