Elementum Money is my baby and in my possessiveness, I have resisted guest posts for very long. While I can be faulted for being choosy, I have to say that most of the requests that popped up in my inbox were not something I thought would find value with my readers.

Today, though, I am happy to present the first guest post on Elementum Money. This post has been written by Tushar Jain who blogs on his eponymous website www.jaintushar.com. Tushar also writes about Personal Finance including book reviews, hence this post. Do let me know what you thought about the post in the comments below.  

If you have recently started taking interest in personal finance and are looking for some good books in the field, you have landed on the right page.

Today, I am writing about 5 great books on personal finance which are a must read for a beginner.

These will help you set your basics correct right from day one.

Just in case you are not a beginner, I would still suggest you read these books as a refresher course.

All I can assure you is that your time spent reading these books will be time well spent.

In fact, #1 and #2 are very close to my heart and I have read them multiple times over the past couple of years.

#1 Rich Dad Poor Dad by Robert Kiyosaki

What is it about

I read this book first almost 20 years back.

Since then, I have read this book 3 times. Cover to cover.

Whether you are new to personal finance or are a veteran, you will enjoy reading this book.

Remember, this book is not about how to make money. Rather, it gives you multiple approaches which you should follow in life when it comes to building wealth.

Approaches like how to handle money, how to grow it, how to spend your time learning new stuff, how to put that learning into practice, how to practice financial prudence etc.

However, you will find few stories mentioned by Robert Kiyosaki which will sound like fairytales. One such instance is where he mentions that he made USD 40,000 in flat 5 hours by cracking a home deal.

Idea is not that he is asking you to crack home deals. Instead, he is asking you to stay awake and sense opportunities.

That’s what rich people do.

This book is written in plain, simple English with little to no reference to financial terms.

What to expect after reading this book

Expect a complete shift in the way you look at money right now. You will also learn few financial habits that you can inculcate in your day to day life.

(Editor’s Note: This is one of my personal favorites and an early Personal Finance reads for me too. You can hop over and read my detailed take on the book right here)

#2 Early Retirement Extreme by Jacob L Fisker

What is it about

Retirement is one topic which is dear to everyone’s heart.

Most of us view retirement as something that happens when we turn 60.

Fisker instead questions why can’t this retirement happen early, say in your 30s or 40s.

Do note that his view of retirement is not to stop working but to build passive sources of income where your time is not directly proportional to the returns that your assets generate.

If you are successful to create such assets, you will attain financial independence and that’s what the concept of retirement is all about.

You can accelerate this process but it happens only if you practice discipline, simple living, self sufficiency and increased financial prudence in your life.

But the most important aspect is to move from consumption based lifestyle to production based lifestyle.

This book offers you theoretical frameworks and methodologies towards early retirement and how to build a meaningful life.

What to expect after reading this book

Once you have completed this book, you will have a whole new perspective of the concept of financial freedom and retirement.

You will also sense an increased awareness around why it’s so important to build passive sources of income and move out of the rat race.

#3. You Can Be Rich Too with Goal Based Investing by P V Subramanyam

What is it about

I haven’t read this book but I have read each and every blog of Subbu sir, the author of this book.

He writes on healthy financial habits, disciplined investing and keeping money matters simple.

Given the positive reviews that the book has generated, I am sure it’s a great read.

Also, the author has more than 40 years of experience in the field of personal finance and is a big preacher of healthy money habits.

The best part is that all examples/references/case studies are from Indian context so its super easy to digest the content of the book.

What to expect after reading this book

This book is for pure beginners.

Pick this book only if you are starting fresh and have zero knowledge related to personal finance.

If you are already saving & investing, you can give this book a miss and pick any of the other titles I have reviewed.

#4. Let’s talk Money by Monika Halan

What is it about

Very much like the P V Subramanyam’s book, ‘Let’s talk Money’ is written with Indian context in mind.

It’s written in very simple language and is free from all the complex financial terms.

Instead, it builds a perspective for the beginners on how to approach and manage money in their life.

Especially if you are a beginner or have teenage kids at home, I would strongly suggest you to order this book. It will give you a financial blueprint on which you can base your entire life.

What to expect after reading this book

Pick this book only if you are a beginner and don’t have much knowledge on the concepts of saving, investment, insurance etc.

This book is written from the perspective of a middle class, salaried person so ensure you are in that category before you pick the book.

Else you will find this book unrelatable.

#5 The Secrets of the Millionaire Mind by T. Harv Eker

What is it about

If you wonder why some people get rich so quickly while others toil hard but are still not rich, this book gives you an answer.

The central idea of ‘The Secrets of Millionnaire Mind” is that we all have pre-conceived notions when it comes to money (called our money blueprint).

Our money blueprint is the result of our upbringing and a major deciding factor whether we will achieve financial success or not.

Even if we achieve financial success, our money blueprint defines whether we will be able to maintain our riches or not.

Read my detailed review of “The Secrets of Millionnaire Mind” to explore this concept of money blueprint.

What to expect after reading the book

T Harv Eker is a motivational speaker and through this book, he is also trying to sell you his classroom training course.

Just ignore that aspect of the book and you will actually unlock lot of wisdom as you read this book.

You will come face to face with 20 bad behaviors which most of us are into, knowingly or unknowingly.

These behaviors pull us down and prevent us from reaching our full potential.


Which of the above 5 books have your read?

And do you have your all time favorite book which set things right for you in your personal finance journey?

If yes, don’t forget to mention the title in comments below and help fellow readers.

About the author

Tushar is a personal finance enthusiast who loves to write on income, savings, investments and spending. Through his writings on www.jaintushar.com, his vision is to make personal finance easy and comprehensible for his audience.

He is a proponent of healthy financial habits with a strong focus towards income generation.