6 of The Best Financial Management Books for Small Businesses
As a busy small business owner, managing your finances is a top priority and critical for success. The challenge is, it can often be difficult and time-consuming. That’s why, with the help of our small business advising team, we have put together a list of some of the best small business finance books.
There are many books out there that are directed toward helping small business owners manage their finances, and finding quality books can sometimes be difficult. Luckily for you, these 6 books will help you get inspired, manage debt, retire early, and more.
Best for an Overall Guide: Small Business Financial Management for Dummies
This book provides easy how-to guidance on how to handle all your financial affairs, from preparing financial statements and managing cash flow to streamlining the accounting process, requesting bank loans, increasing profits, and much more. This tool-packed guide is one of the best small business finance books out there.
Best Memoir: Rich Dad Poor Dad
Written by Robert Kiyosaki, this book is a memoir with several important lessons attached. The most recent version was updated in 2017. It was first published over 20 years ago and is, one of the bestselling finance books ever. The author walks you through the story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
Best for Budgeting Your Finances: Your Money or Your Life
For more than twenty-five years, this book has been considered the go-to for taking back your life by changing your relationship with money. Hundreds of thousands of people have followed Robin and Dominguez’s nine-step program to live more deliberately and meaningfully. This book will show you how to get out of debt and save money while learning how to invest your savings and declutter your life.
Best for Debt Management: The Total Money Makeover
Written by Dave Ramsey who has a highly successful radio show and five New York Times bestsellers, this book will give you a straightforward game plan for making over your money habits. You will learn how to best pay off all debt, recognize the 10 most dangerous money myths, and how to secure a huge nest of savings for emergencies and retirement.
Best about Retiring Early: How to Retire Happy, Wild, and Free
Author Ernie Zelinski doesn’t write about taming your finances in preparation for retirement, but how to retire based on what you have managed to save. It provides a different perspective on finances, which makes it one of the best small business finance books. This book is focused on inspirational advice on how to enjoy life to its fullest and how a satisfying retirement involves a great deal more than having adequate financial resources.
Best for Inspiration: The Millionaire Next Door
In this book, business professors William D. Danko and Thomas J. Stanley explore the seven common traits found among millionaires to truly understand how to accumulate wealth. You will learn that wealth in America is more often the result of hard work, diligent savings, and living below your means than it is about inheritance, advanced degrees, and even intelligence.