Reading is fundamental to improving our personal and professional lives in a number of diverse ways. And understanding the process of financial management in a large firm is no different, because books can open our horizons and explain situations that are outside of our experience.

In this post, we’ve separated 12 books which are indispensable to those who wish to understand a little more about financial management. Check them out!

1. Think and Grow Rich by Napoleon Hill

A bestseller by author Napoleon Hill, the book follows the ascension of 500 fortunes, gathering together advice and tips from millionaires who’ve been successful. He’s studied this subject for 20 years and has extensive knowledge of financial management.

2. The Zurich Axioms de Max Gunther

Focused principally on investing, this work by Max Gunther is practically a guide to financial markets, and offers valuable tips about this topic. The Zurich Axioms tells the story of Swiss bankers who became millionaires and managed to expand their businesses abroad.

3. The Competitive Advantage of Nations by Michael Porter

Michael Porter, a widely recognized author in the area of business administration, points to four factors that determine national competitiveness in this work, explaining in detail how each of them operates in nations’ economies. The practices that he cites regarding financial management for nations can easily be applied to businesses as well.

4. The Richest Man in Babylon by George S. Clason

This is a classic about how to multiply wealth and solve financial problems. Based on the secrets to success of the ancient Babylonians, who lived in the richest and most prosperous city of their times, the author offers clever solutions to not suffer from a lack of wealth that are still valid today. Some of the topics covered include:

– how not to waste financial resources in times of opulence;
– to look for knowledge and information instead of just profit;
– to ensure revenue for the future;
– to be punctual in paying debts, and above all how to cultivate aptitudes, becoming more and more able and conscientious over time.

5. Rich Dad, Poor Dad by Robert T. Kiyosaki

One of the bestselling books in business administration is Rich Dad, Poor Dad, written by Robert T. Kiyosaki. This book presents actions that set rich people apart from poor people, teaching the kind of thinking that leads to the financial success of an individual or a company.

6. Entrepreneurial Finance: Finance and Business Strategies for the Serious Entrepreneur by Steven Rogers

In this work, author Steven Rogers looks at the relationship between the financial markets and entrepreneurs. It’s a didactic book that shows step by step financial and strategic actions that can be put into practice by entrepreneurs in any field.

7. Secrets of the Millionaire Mind by T. Harv Eker

In this work the author reflects about what he calls “your money model,” a group of beliefs that each of us has nurtured from childhood that influences our financial future, almost always leaving us in a difficult situation.

Eker shows how to substitute this destructive mentality that people don’t even realize they have for “wealth files,” – 17 ways of thinking and acting that distinguish the rich from other people.

8. Out of the Crisis, by Edwards Deming

This work provides the 14 points for management based on Deming’s theory. According to him, the lack of planning is the main factor that leads to the loss of market and the lower supply of jobs. Edwards Deming was considered the person responsible for the Japanese manufacturing revolution that occurred in the 1960s.

This book provides important practices and information for financial management. To ensure the generation of dividends, protect your company’s investments and increase supply, for example, managers need to be evaluated not only in terms of balance sheets, but also in terms of plans.

9. Principles of Managerial Finance, by Lawrence Gitman

For more than 10 years this book has helped several students of business management and related areas, as well as entrepreneurs, understand concepts with an easy and didactic language. It stands out due to the sections that show how to apply the knowledge acquired in it in your daily life, such as your personal finance.

To do so, it provides chapters that address the goals of a financial manager, conflicts of managers and business owners, financial modalities and types of decisions.

10. Blue Ocean Strategy, by W. Chan Kim and Renée Mauborgne

Kim and Mauborgne try to create a guide to learn how to invest in still unexplored markets. For that purpose, they believe that designing new strategies is the way to success, as it is easier to explore the “blue oceans” than to try to get in the competition in the “red oceans”.

In addition, this book shows how it is healthier to make your rivals irrelevant, rather than to compete with them. To create the book’s material, the authors studied 150 winners and losers from different industries and tried to find the method of the former.

11. Managing for Dummies, by Bob Nelson e Peter Economy

Do you need to improve your leadership skills? This is the right book for you! It uses a fun and easy language to talk about essential points of financial management. As a practical guide, the book provides tips on how to lead a team and projects in a way that can be applied in business.

You will also find methods of recruiting good employees, how to motivate your team, and techniques related to budget and accounting, in order to manage your business more efficiently and according to your needs.

12. The Goal – A Process of Ongoing Improvement, by Eliyahu Goldratt

The story of a manager who has a period of 3 months to change an entire model that doesn’t generate profit – based on this context, you can learn a lot about how to improve your financial management skills with the techniques cited by the author, who is an Israeli physicist and management consultant.

The importance of reading for financial management

Investing in knowledge never hurts, does it? Therefore, it is through financial management that you will maintain the health of your business, be aware of your projects’ results, and know what is working and what should be improved, not only in your company, but throughout your financial life.

By reading great works, such as those mentioned above, you absorb knowledge from successful people who have a lot to teach. To do so, set aside some time in your day to devote yourself to this practice that will surely benefit you in all areas of your life.

Now you have various options to renovate your library and improve your company’s financial management, don’t you? Why not share this article on your social networks and share this knowledge with your friends? Come on!