6+ money & investing books we’re reading in 2024

Chances are, if you listen to the Australian Finance Podcast, you also enjoy reading (audiobooks definitely count).

Kate & Owen have learnt so much about their personal finances and approach to investing from books, so in this episode, they’re sharing some of their favourite reads in 2024 with you.

Classic recommendations

We’ve mentioned them many times before, but if this is your first time listening to the podcast, here are a few of our favourites:

• The Barefoot Investor by Scott Pape

• The Psychology of Money by Morgan Housel

• The Simple Path to Wealth by JL Collins

• Money School by Lacey Filipich

• Die with Zero by Bill Perkins

• Good With Money by Emma Edwards
• Shareplicity by Danielle Ecuyer

Strong Money Australia by Dave Gow

Dave’s Book is a practical all-rounder that approaches wealth building from a perspective of simplicity and learning. 

For example: 

• Shares v property
• Fundamentals of financial freedom
• How to supercharge your savings rate
• Mindset

Poor Charlie’s Almanack 

There are a lot of Planck’s in this world. “You want Planck knowledge, not Chauffeur knowledge”. 

Idea: Munger’s analogy involves a famous scientist and his chauffeur. The scientist, who often gave lectures on complex topics, was accompanied by his chauffeur who attended all these lectures and memorized them. The chauffeur could eventually recite the lectures verbatim, and from an audience’s perspective, he seemed just as knowledgeable as the scientist. However, when faced with unexpected questions or deeper inquiries, the chauffeur’s superficial understanding would quickly become apparent.

Munger:

“There are two kinds of knowledge. One is Planck knowledge—the knowledge of the physicist Max Planck. He knew the subject cold, forward and backward, inside and out. The other kind is chauffeur knowledge—knowledge possessed by the chauffeur who had memorized all of Planck’s lectures and could recite them but had no real understanding of what they meant. We need more Planck knowledge and less chauffeur knowledge.”

Passion is incredibly important to your success. Focus on the feelings you get from a career or pursuit, not the dollars. You will live a richer life. 

“Intense interest in any subject is indispensable if you’re going to excel in it.”

Find amazing people, and stick with them. Find people who bring up your average – kindness, love, care, intelligence and integrity. People who challenge you. And who you can challenge (e.g. your family, bosses, colleagues, etc.). Fragile egos should be avoided.

“Seek out a web of deserved trust”.

In investing or finance, find the people who deserve your trust. The people who care. 

Don’t underestimate the things you can’t quantify – ethics, love, passion, etc. Some people spend way too much of their time, energy or money trying to make the best decision and manage risk. 

“If your marriage agreement has 47 pages, my suggestion is do not enter.”

Habits and processes trump intelligence or belief in investing. 

“It’s not necessary to hope in order to persevere” 

The Wealth Money Can’t Buy: The 8 Hidden Habits to Live Your Richest Life

Author: Robin Sharma

The Wealth Money Can’t Buy offers you a completely life-changing new philosophy and methodology for enjoying an honestly rich life, one filled with personal power, authenticity, exceptionally fulfilling work and a beautiful lifestyle that will cause you to feel like real fortune has finally smiled on you. 

The 8 Hidden Habits to Live Your Richest Life | Robin Sharma

This book is a collection of short anecdotes, stories, meditations and tales to explain the eight forms of wealth and actionable lessons and actions you can take away from each section.

Chasing the world’s definition of wealth (fame, fortune and power) will leave you poorer.

Are you at risk of ending up cash-rich and wealth-poor?

Robin’s 8 Forms of Wealth

• Growth: The Daily Habit of Self-Improvement
• Wellness: The Steadily Optimise Your Health Habit
• Family: The Happy Family, Happy Life Habit
• Craft: The Work as a Platform for Purpose Habit
• Money: The Prosperity as Fuel for Freedom Habit
• Community: The You Become Your Social Network Habit
• Adventure: The Joy Comes from Exploring Not Possessing Habit
• Service: The Life is Short So Be Very Helpful Habit

Some of my key takeaways:

• Nothing on the outside will fill the holes on the inside
• Your relationship with everyone else reflects your relationship with yourself.
• Hard is easy, and easy is hard → you need to do the difficult things
• We’re not craving the expensive thing, we’re craving the feeling that we think that thing will bring
• Are you addicted to accumulating?

Two investing books to help you get started

The quick start guide to investing by Glen James and Nick Bradley

We did an interview with Glen a few months back – this book is an enjoyable, easy read and gives you the practical first steps without overwhelming you. 

Also provides example investor profiles at the end.

Don’t Stress, Just Invest by Alec Renehan & Bryce Leske

• Step 1: Get paid
• Step 2: Automate your investing
• Step 3: Buy a bit of everything
• Step 4: Repeat every pay

They make investing simple, avoid wading into complex waters and include plenty of graphics and charts to help you visualise things.

Coupleship Inc. 

Authors: Debra Kaplan & Rick Kahler

Debra L. Kaplan, MA, MBA, LPC, CSAT-S, is an author, speaker, and licensed therapist specializing in attachment, sexual compulsivity, money, work, and relationship dynamics.

Rick Kahler, MS, CFP®, CFT-I™, CeFT®, CIFSP, president of Kahler Financial Group. He founded Kahler Financial Group in 1981. He became the first fee-only CERTIFIED FINANCIAL PLANNER™ (CFP®) in South Dakota in 1983.

A romantic relationship is one of the most important emotional—and financial—decisions we ever make. When partners commit, they merge their individual relationships with money to form a complex emotional and financial partnership which the authors call, Coupleship Inc.

Debra Kaplan and Rick Kahler combine their expertise in couples therapy and financial planning to provide insights, tools and practical steps for couples to successfully resolve money conflicts and create emotional and financial wellbeing.

This book will help couples:  

• Identify the unconscious beliefs driving financial decisions that seem illogical.
• Turn self-defeating beliefs and behaviours about money into healthier behaviours that build financial intimacy.
• Develop compassion for their internal “companies” of well-intentioned inner parts.
• Learn effective communication skills to turn money arguments into constructive conversations.

Some of my key takeaways:

• Spends a significant of time explaining money scripts, how they’re formed, helps us identify which ones we have, and how to better communicate with our partner 
• How to tackle financial behaviours like overspending
• Better understanding your own relationship with money

Giveaway – 5 copies of Kate’s book, Buying Happiness

While we’re here talking about books, we can’t forget to mention our own.

Kate’s book, Buying Happiness: Learn to Invest Your Time and Money Better, is your go-to companion while listening to the Australian Finance Podcast.

Jump over to our Instagram page or Community, find the posts about the giveaway, and let us know your favourite personal finance or investing resource (could be a book, podcast, essay or something else)!