There is nothing more reassuring than the presence of your father in life. There is nothing more motivating than a father cheering your name from the crowd. No advice is bigger than what your father shares with you. Many young individuals who are living away from their families for work or education often experience overwhelming nostalgia for the days they spent with their fathers.
As we celebrate Father’s Day on June 18 this year, let us give a shoutout to all fathers thanking them for their unrelenting support while celebrating their trials and tribulations all throughout. Gratitude towards fathers should not be limited to a day alone, which is why it is necessary that we gift them something that would stay with them throughout.
Knowledge is power and is the best gift that you can give to your father this day. Why not gift him some finance books that will widen his ambit of understanding money and how it works? The previous generation had less access to financial knowledge, which is why they cling to traditional investment options. Gifting them some personal finance books will go a long way in helping them manage their money better.
Some of the best finance books that you may consider gifting to your dad include:
The Barefoot Investor by Scott Pape
Money is a relatively simple subject. Why complicate it by buying complicated books filled with jargon and unnecessary addendums? Start by gifting something simple to your father like “The Barefoot Investor”. This much-acclaimed personal finance book penned by Scott Pape in 2016 talks about simple ways to build wealth without piling on unwanted debt.
Sought after and read for its straightforward advice and easy-to-understand strategies, this book will help your dad take the first step in his journey toward wealth creation. The book eliminates the readers’ tendency to disregard the importance of emergency funds and continue taking loans while propelling them to adopt a hands-on investing approach.
I Will Teach You to Be Rich by Ramit Sethi
All envy the rich and the beautiful while wishing that they could live their opulent lifestyle. Wealth creation is not easy, especially, for people not aware of how to define their financial goals and from where to start. Deemed the most comprehensive and practical guide to managing money, investing, and building wealth over the long term, this book breaks down simple nuances of finance into various topics including budgeting, saving, investing, banking, and automating financial processes.
The author highlights the significance of developing a system that streamlines financial decision-making and enables individuals to prioritize what genuinely matters to them.
The Automatic Millionaire by David Bach
We love everything automated, be it the electronic gadgets attuned to automatically turn on and off or our systematic investment plans (SIPs) that automate our investing behaviour. When everything around us is fully or partially automated, why not automate our financial habits and strategies too?
David Bach presents the concept that anyone can achieve millionaire status by adhering to a straightforward set of principles and harnessing the potential of automation. He underscores the significance of prioritizing personal savings, automating both savings and investments and making informed choices regarding housing and debt.
The book also introduces the “Latte Factor”. Now this strategy will not make you rich but will definitely cut down on your expenses. Cutting down on daily expenses will automatically allow you more money in hand that can be redirected toward investments. The author also advocates for homeownership and explains the benefits of building equity in a property over time.
The Richest Man in Babylon by George S Clason
What if fables could inspire you to work on your finances? This book published in 1926 is essentially a set of parables written to inspire to achieve wealth. The context of the book is set in ancient Babylon and inspires one to achieve financial success using small underrated tips that remain mostly ignored in today’s times.
If your father loves to read, he will surely delve into its lessons and chapters on subjects including personal finance, savings, investing, budgeting, and building wealth.
This book is different from most other personal finance books in the sense that it highlights the central notion of prioritizing oneself by paying oneself first. The book stresses the significance of saving a portion of one's income before allocating it to other expenses. It encourages the practice of consistently setting aside a percentage of earnings for future investments and financial security.
Expressing affection and gratitude toward your father each day of your life is imperative. However, when it comes to gifting, relegating at least one day of the year toward the same underscores how much you care for him. This Father’s Day, gift him the freedom of making and preserving money.
Love is indeed priceless, but bills still need to be paid. With these personal finance books, you will ensure that your dad does not struggle anymore while paying his family’s bills.