If you aspire to become a millionaire (or even a billionaire!) or simply desire financial freedom to alleviate future concerns, money mindset books can provide the guidance necessary to achieve your goals.
Whether you like it or not, money is an essential requirement in our society, capable of either facilitating a comfortable lifestyle or inducing stress. Money is regarded as both a tool and a means of acquiring influence. Particularly for females, it is of utmost significance to possess self-assurance and empowerment in all financial matters.
So What Is Money Mindset?
When you think of the word “money,” what immediately pops into your head? It may not be something you consciously think about, but everyone has their own individual connection to money. The important thing to consider is whether your present attitude toward money is beneficial for you.
Your money mindset encompasses both your conscious and subconscious beliefs about money. The way you think and feel about money influences your financial habits, behaviors, and decisions. This includes how you make money, save it, spend it, invest it, and engage in any transactions involving money.
If you have an unhealthy relationship with money, it is not your fault. Various factors, such as your upbringing, education, family, social circles, life experiences, and values, have influenced and shaped your attitudes towards money without your deliberate intention.
Now that you possess this knowledge, it is your responsibility to make alterations.
How to Improve Your Money Mindset
Surprisingly, the most effective approach I have discovered for enhancing your money mindset (which has also proven successful for my accomplished Beyond Influential guests) involves reading books on money mindset and implementing the lessons.
I have compiled a list of the top 20 money mindset books for women. These books encompass various aspects such as ways to enhance your money mindset, dispelling prevalent money misconceptions, providing practical tips and exercises for improving your money mindset. By following these suggestions, you will be able to overcome any self-imposed restrictions, initiate the process of wealth accumulation, and ultimately attain financial independence.
10 Money Mindset Books for Women That Will Transform Your Life
You Are a Badass at Making Money: Master the Mindset of Wealth by Jen Sincero
Start working on your money mindset and improving your relationship with money by reading Jen Sincero’s You Are a Badass at Making Money. This book is based on Sincero’s personal financial transformation, where she went from being broke at 40 years old to becoming a successful business owner. Today, she is a highly sought-after coach, speaker, and multiple-time New York Times bestselling author.
Sincero simplifies the process of reevaluating your thoughts on money, making it understandable, practical, and not overly spiritual (if that’s not your thing). Additionally, she incorporates numerous anecdotes and wit to ensure it remains engaging and interesting. Through the book’s exercises, readers can identify and overcome any doubts, fears, or negative beliefs that hinder their financial success, hence acquiring a fresh and more positive perspective on personal finances.
A Happy Pocket Full of Money, Expanded Study Edition: Infinite Wealth and Abundance in the Here and Now by David Cameron Gikandi
If you are not prepared to approach this book with an open mind, it may not be suitable for you. This book even provides instructions on how to read it: initially, read the entire book in one go, then read it again at a slower pace, and finally, instead of using your logical mind, try to connect with the teachings emotionally.
If you are open to concepts related to the law of attraction and manifestation, A Happy Pocket Full of Money focuses on the development of wealth consciousness and the practice of deliberate thoughts and intentions concerning money, abundance, and happiness.
We Should All Be Millionaires: A Woman’s Guide to Earning More, Building Wealth, and Gaining Economic Power by Rachel Rodgers
No matter your age or occupation, whether you’re an entrepreneur, influencer, or working woman in any field, it is necessary for you to read this book.
With only 10 percent of the world’s millionaires being women, it poses a greater challenge for women to make the desired impact that they deserve. In this book, Rodgers, who is a Black woman, mother of four, attorney, business owner, and self-made millionaire, not only shares the knowledge she gained from her personal path to wealth but also provides proven tips, tools, and frameworks that she developed while coaching numerous women in achieving seven-figure success.
The book We Should All Be Millionaires provides a clear and practical roadmap for individuals to become millionaires. It addresses the obstacles women and minorities encounter when accumulating wealth, dispels common money misconceptions, and challenges any restrictive beliefs hindering one’s path to riches. The book teaches readers how to avoid making financial mistakes and encourages them to set ambitious goals. Additionally, Rachel shares tips and tactics for quickly generating income.
Overcoming Underearning: A Five-Step Plan to a Richer Life by Barbara Huson (formerly Barbara Stanny)
In her forties, Barbara went through a personal experience where the men she trusted to handle her finances took advantage of her, leading her to learn how to manage her money. Since then, she has dedicated herself to acquiring comprehensive knowledge about women and finances, with the aim of helping others avoid the hardships she encountered.
Overcoming Underearning is a combination of a book, a journal, and a workbook. In my opinion, it is one of the most practical books about having the right mindset towards money. It not only discusses the five steps, but also provides techniques and exercises that are necessary for you to earn what you truly deserve, achieve financial independence, and fulfill your maximum potential.
Rewire for Wealth: Three Steps Any Woman Can Take to Program Her Brain for Financial Success by Barbara Huson (formerly Barbara Stanny)
According to research, men and women have different perspectives on money. In her book Rewire for Wealth, Barbara Huson (previously known as Barbara Stanny) provides a practical three-step method to alter your mindset towards money. This approach is based on her extensive experience spanning over 20 years, as well as incorporating the latest findings from neuroscience, psychology, and mind-training techniques.
By following the process step by step, you will acquire the skills to train your brain in identifying, restructuring, and reacting in a different manner. This will enable you to conquer detrimental financial behaviors, establish new habits for wealth accumulation, and assume authority over your life.
The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel
The ability to handle finances effectively is not determined by intelligence or financial expertise. Money is frequently discussed in terms of numbers, but in reality, our individual perspectives on money are shaped by emotions, past experiences, motivations, and personal values, which ultimately influence our decision-making process.
Morgan Housel’s book, The Psychology of Money, contains 19 concise and captivating stories that showcase the diverse perspectives individuals have towards money. By reading this book, you can gain valuable insights and improve your financial decision-making skills by transforming your mindset regarding money.
Think and Grow Rich!: The Original Version, Restored and Revised by Napoleon Hill
Think and Grow Rich, which has sold over 100 million copies, is recognized as the “Granddaddy of All Motivational Literature” and remains one of the most widely read self-improvement books ever.
Hill shares the “Philosophy of Achievement” that can be utilized to generate wealth and abundance in one’s own life, based on success principles derived from Andrew Carnegie, Henry Ford, Thomas Edison, and other millionaires of that era.
The success they achieved was greatly influenced by their mindset.
This book, which I received as a gift when I was a child, is also timeless. It is advantageous to grasp these lessons as early as possible.
The Richest Man In Babylon by George S. Clason
The book entitled The Richest Man in Babylon is a timeless masterpiece about money and wealth that is essential for all individuals to possess. It acknowledges the ancient Babylonians as the pioneers in uncovering the universal principles of success. Within The Richest Man in Babylon, George S. Clason imparts the wisdom of the past through ancient tales that disclose the secrets of achieving, expanding, and safeguarding wealth.
This book has been in print for nearly a hundred years and its teachings remain applicable today. Written in a straightforward and comprehensible style, it presents informative and enjoyable stories that impart invaluable lessons on earning, retaining, and increasing your wealth. Through the anecdotes of merchants, traders, and shepherds, you will gain knowledge on financial planning, debt management, utilizing your money wisely, selecting prudent investments, and ensuring long-lasting prosperity.
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
Robert Kiyosaki’s Rich Dad Poor Dad has remained a popular book on the personal finance bestseller charts for more than 20 years.
Rich Dad Poor Dad recounts Robert’s upbringing, portraying the influence of two father figures in his life – his biological father and his best friend’s father, referred to as his “rich dad” – and how they shaped his perspectives on finance and investment.
This book exposes a number of money myths and also highlights the essential distinction between earning money through work and having money generate income for you.
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by T. Harv Eker
T. Harv Eker’s Secrets of the Millionaire is a timeless book on developing a money mindset. Make sure your subconscious doesn’t hinder your success and begin transforming your financial future by preparing your mind.
Eker discusses the impact of childhood experiences on one’s financial mindset and how they can result in negative thoughts and behaviors related to money. He presents four strategies that can be adopted to enhance one’s attitude and behavior regarding finances, ultimately enabling one to attain financial success.
Eker also presents a set of seventeen money mindset lessons known as “Wealth Files,” which outline the distinct thinking and behavior of wealthy individuals compared to those who face difficulties. Each lesson is accompanied by exercises that allow individuals to apply these practices and internalize the mindset of millionaires.
BONUS: What Is a Toxic Money Mindset—and How Do You Get Rid of It?
Toxic money refers to income that you resent, usually coming from a source that you previously held affection or admiration for. It arises from a negative change in your emotions, where even though the relationship has concluded in all other aspects, the financial connection still remains. We specifically mentioned examples like alimony and child support, but it could also involve a situation such as a loan that your separated parents granted you to fulfill your child’s desire to attend a prestigious private school.
Lynch describes toxic money as being connected to a prolonged struggle that compels you to “limit yourself, adhere to someone else’s guidelines, remain hurt or ill or damaged—anything but assert your full potential.” Toxic money enters your life through a painful ordeal, whether it be a monetary settlement or regular salary, leaving you feeling like a victim. It can have significant negative effects when it reduces your earnings in other areas (such as child support pushing you into a higher tax bracket) or when it is designated for a harmful intent (like alimony that must be surrendered to repay a parental loan).
Once you become aware that you possess money that is toxic, you are faced with a choice: you can either retain it, return it, or contribute it to a charitable cause. Each option carries its own set of outcomes, and there is no definitive correct answer. Khan asserts that toxic money creates an unhealthy sense of being trapped, however, it is your emotions that determine the extent of your financial abundance. The greater your negative sentiments regarding the source of the money, the more harmful the money becomes.
If you are able to live without the money, it is advisable to contemplate the option of leaving it behind. Accepting it may lead to negative emotions such as guilt or shame. In case you require the money, the initial step towards attaining freedom is to recognize your reliance on it. The subsequent step involves taking control of your mindset, improving your connection with your finances, and discovering alternative sources of income. The following explains how to achieve this.
Monetize something you love and would do for free.
When it comes to overcoming toxic money, the valuable saying “Your salary depends on your job, not your income” holds true. If toxic money is only one of the various income sources, its impact is minimized. To exchange toxic money for money that you take pride in earning, consider activities that bring you positive energy, such as selling handmade knitwear on Etsy or teaching online classes.
Earning any amount through this positive endeavor, regardless of whether it’s a small sum or a large one, will lessen the significance of the negative money and consequently decrease your bitterness towards it. Engaging in an activity you find enjoyable to earn an income allows you to develop financial self-reliance and, consequently, fosters a favorable association with your earnings.
Change your money mindset.
According to author and financial expert Rachel Cruze, our understanding of money is largely influenced by the role models we had during our upbringing. If, as a child, you witnessed someone close to you struggling with unhealthy financial habits that they could never overcome, or if someone you cared about always lived with the belief that they would never have enough money, it’s possible that you internalized these ideas as your own. To change this mindset, it is important to seek new role models who have successfully overcome similar challenges and share your vision for the future.
Cruze provides various methods to transform your mindset around money, along with a multitude of empowering books and practical financial strategies that can aid you in reshaping your perspective on finances. By daring to question your existing beliefs about your identity and the significance of money in relation to your self-esteem, you have the potential to effectively overcome harmful attitudes towards money.
Identify mental and spiritual money blocks.
Katherine Hurst, author and prominent figure in TheLawOfAttraction.com, asserts that hindering beliefs can hinder your deepest desires. Assumptions ingrained in your subconscious about yourself, your circumstances, and your finances may create barriers between you and happiness. However, engaging in mental and spiritual efforts can transform your mindset and the energy surrounding money.
By freeing yourself from a scarcity mindset, you can adopt a more balanced mindset to overcome toxic money. The methods for achieving this vary from practical financial planning and therapy to more unconventional approaches like seeking assistance from an energy healer to alleviate tension and obstacles within your body. Khan emphasizes the importance of seeking professional help to permanently eliminate toxic money if it has been present in your life for an extended period of time.
