Dinero is a Vibe: Books for Beginners
“Dinero is a vibe” is my motto, but I didn’t start off this way. My mindset has come a long way in regard to personal finance and growing wealth, thanks to some books for beginners that I stumbled upon. I come from a background where my mom cleaned houses and didn’t have access to a 401K through her employer. My parents lived paycheck to paycheck and money was a scarcity growing up. It was common to see eviction warnings posted to our apartment door and occasionally the lights wouldn’t work for a day or two. I didn’t have any role models when it came to saving, investing or money management.
It’s overwhelming to try to get a hold of our financial plans when we don’t have someone to guide us through it. Luckily, there are a ton of resources out there to help. Adjusting our way of living is a money mindset, which I dare argue is more important than information or resources combined. It means ignoring habits that provide instant gratification and making sacrifices for the long term. I was a product of my environment and it took me some time to establish a healthy relationship with money. I put together some books for beginners. Here are the books that helped me break from the curse of scarcity mindset in my family and begin to accumulate wealth.
Books for Beginners
Broke Millennial: Stop Scraping By and Get Your Financial Life Together
I highly recommend this book for those who needs a place to start when it comes to personal finances. It was easy to read and the author, Erin Lowry, dedicated a lot of time to make such a painful endeavor enjoyable. Lowry does an incredible job at including a wide range of people with different financial backgrounds and goals. I have recommended this book to literally each of my closest friends and gifted the book to my siblings.
The Simple Path to Wealth By JL Collins
This is probably one of my favorite books so far. It started off as a father writing letters to his daughter to help her prepare for a life of financial independence. I have been following his rules and within two months, my credit score skyrocketed! I know his rule of living off of 50% of your income sounds crazy, but this mindset has really changed the way I see my money. Instead of just seeing my cash flow as a source of buying power, I think of all the missed opportunities or investments, that are associated with material purchases which quickly lose value and tie up my assets. I’m definitely in this game for the “F you” money he talks about.
The Power of Habits By Charles Duhigg
I love reading case studies about psychology and statisticians, especially when it pertains to our behavior. Soy una nerda. Although this is not a book about finances per se, I really enjoyed learning about the components that constitutes a habit. This book helped me recognize my own habits, and make adjustments on the routines that I wanted to improve. The habits I altered to create new habits made a huge impact on my productivity and my bank accounts.
The Compound Effect by Darren Hardy
This book really kicked me into shape. It really made me see that I was lacking some personal responsibility in some areas of my life. Luckily, with this book, I began to make the changes I needed in order to obtain the results I wanted. The compound effect focuses on the power of our choices compounded over time. It’s a great book to learn the mentality for investing and understanding how to use the compound effect of money to your best advantage.
The Millionaire Next Door By Thomas Stanley
The Millionaire Next Door does a great job at comparing and contrasting the habits of millionaires and high consumers. It helped remind myself that what we see on social media is a front. It also does a great job at explaining the differences between assets and liabilities. Broke is flashy, wealth is quiet. Growing wealth isn’t an attractive lifestyle when you’re starting out. It requires staying away from debt and living a “cash is king” life.
What have been your “Go To” Books for Beginners?
What have been some game changing books that helped launch your “Dinero is a vibe” mindset?
