Dave Ramsey Says If You Want To Be Rich, Read A Book — 'The Average Millionaire Reads One Nonfiction Book Each Month'

During a call with Marcell from Tulsa, Oklahoma, a single dad earning $13.50 per hour, Dave Ramsey turned his attention away from finances and toward his reading habits. It may sound strange, but there's a method to his madness.

"Let me ask you this: How much reading do you do?" Ramsey asked.

After stammering around, Marcell replied, "Not much."

Ramsey then explained to the caller that the average millionaire reads one nonfiction book every month. 

"I have a friend of mine who reads two a month because he wants to be a two millionaire," Ramsey said.

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Is Reading The Key To Making More Money?

Ramsey’s point isn’t that simply reading nonfiction guarantees wealth. The millionaires he references are likely reading books that contribute to their specific goals, whether it's business, investing or personal development.  They’re seeking knowledge to expand their skillsets and financial literacy.

Millionaires are often distinguished not by their initial financial status but by their commitment to continuous learning. They recognize that knowledge is a powerful tool and consistently invest in expanding their financial literacy. This dedication to learning might involve mastering new investment strategies or discovering fresh negotiation tactics, which are critical assets in their wealth-building endeavors.

A common practice among financially successful people is the habit of consistent learning through nonfiction reading. By establishing clear financial objectives and curating a reading list aligned with these goals, individuals can propel themselves forward. 

Personal finance is abundant with resources available through local libraries or online retailers. Diverse selections in reading material can uncover hidden gems that spark innovative concepts applicable to personal financial growth.

Millionaires typically do not start with advanced wealth; rather, they cultivate the knowledge and mindset necessary for financial mastery. Nonfiction reading emerges as a significant tool in this context, offering insights into the strategies that successful people employ to achieve their financial objectives.

While there is no magic solution to becoming a millionaire, adopting practices from those who have successfully navigated the financial landscape can be beneficial. 

Engaging with a broad range of nonfiction materials is recommended for those looking to understand and implement wealth-building strategies.

Consulting a financial adviser is another way to move toward becoming a millionaire. A professional can talk to you about your income, expenses and changes you can make to become financially free.

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*This information is not financial advice, and personalized guidance from a financial adviser is recommended for making well-informed decisions.

Chris Bibey has written about personal finance and investment for the past 15 years in various publications and for various financial companies. He is not a licensed financial adviser, and the content herein is for information purposes only and is not, and does not constitute or intend to constitute, investment advice or any investment service. While Bibey believes the information contained herein is reliable and derived from reliable sources, there is no representation, warranty or undertaking, stated or implied, as to the accuracy or completeness of the information.