Best Finance Books
When you go to school they teach you about history, algebra, chemistry, English.
But where do you learn how to balance a checkbook, create a budget, get and stay out of debt, invest money, or retire early?
Unfortunately a lot of people have to learn from family and friends, which isn’t always a good thing, or on their own.
Even worse, some will never learn.
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If you want to improve your finances (get out of debt), change your money mindset and make getting rich a reality, these are the money books you need to read.
BEST PERSONAL FINANCE BOOK FOR GETTING OUT OF DEBT
The Total Money Makeover, Dave Ramsey
My husband and I were fortunate enough to get out of debt on our own, but it was a struggle. Selling junk on the side and doing some of these extra side hustles were what saved us.
However, in one of my husband’s side hustles he came across Total Money Makeover and saved it for me to read.
Expanding your financial knowledge is super important if you want to continually improve your current financial situation.
Total Money Makeover is full of inspirational debt payoff stories. It provides you with the tools to create a budget and understand the importance of making sacrifices now so that you can live better later.
This book is an easy read and covers more than just achieving financial freedom (life insurance, using a cash system, investing).
There are currently 6,328 reviews on Total Money Makeover that you can read.
BEST PERSONAL FINANCE BOOK FOR BEGINNERS
The Millionaire Next Door, Thomas Stanley & William Danko
This was the very first “financial” book I read and despite being published in 1996, the basic concepts are still relevant.
The Millionaire Next Door reveals the habits of the wealthy. It includes anecdotes accumulated from wealthy individuals, most of whom you wouldn’t suspect are rich.
An inspiring read enforcing the idea that it isn’t always about how much you make, but how you spend.
READ "THE MILLIONAIRE NEXT DOOR"
BEST PERSONAL FINANCE BOOK FOR COLLEGE GRADUATES
Broke Millennial, Erin Lowry
Are you living paycheck to paycheck and having a hard time figuring out your finances? This books stresses the importance of creating a budget and saving money.
Full of hilarious personal stories that will teach you how to manage student loans, discuss finances with your partner and start taking control of your finances.
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BEST PERSONAL FINANCE BOOK FOR INVESTING
The Automatic Millionaire, David Bach
I am a huge advocate for the power of automating your finances. It is for this reason that my husband and I have been able to save over 6 figures. It may or may not seem like much to you, but they say the first $100,000 is the hardest.
David reveals seemingly simple tips to become a millionaire that any joe schmo can implement into their life. He’s been vice president of Morgan Stanley, a New York Times bestseller, and coach.
If you’re a natural saver or want to be one, this is the book for you.
READ "THE AUTOMATIC MILLIONAIRE"
BEST PERSONAL FINANCE BOOK FOR GETTING RICH
I Will Teach You to Be Rich, Ramit Sethi
This book was originally geared towards the younger generation, but is fit for all ages. I just finished reading it and am blown away at how many actionable steps there are that I haven’t thought of, despite being out of debt!
Ramit provides readers with a 6 week personal finance plan based on the pillars of saving, banking, investing and budgeting. He focuses on something he calls conscious spending, which is a great alternative to budgeting since most people hate budgeting or have a hard time sticking to one.
READ "I WILL TEACH YOU TO BE RICH"
Don’t forget to pin for later!
BEST PERSONAL FINANCE BOOK FOR RETIRING EARLY
The Simple Path to Wealth, J. L. Collins/Mr. Money Mustache (Foreword)
I’ll admit, I was first intrigued by this book because the foreword is written by Mr. Money Mustache. He was one of many financial bloggers who inspired me to start my own blog and work towards FIRE (financial independence, retire early). He retired at the age of 30!
This book is a short book on investing that focuses on the simple way of investing versus attempting to time the stock market.
J. L. Collins, a follower of Jack Bogle, argues that the simplest way to invest is also the the most effective.
READ "THE SIMPLE PATH TO WEALTH"
BEST FINANCE BOOK FOR WOMEN
Secrets of Six Figure Women, Barbara Stanny
This book reveals the secrets of 150 women who make anywhere form $100,000 a year to $7 million. Yes you read that right. Barbara found that despite a lot of these women not having a formal education, they were able to overcome fear (bankruptcy) and make increasingly large salaries doing what they love.
A truly inspiring read for women who feel stuck in the rat race, making significantly less than their male counterparts.
Barbara also interviewed under-earners and reveals the bad habits/weaknesses keeping them from reaching six-figures.
READ "SECRETS OF SIX FIGURE WOMEN"
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PERSONAL FINANCE BOOKS THAT WILL BLOW YOUR MIND
I couldn’t put either of these books down they were that good.
Each one if full of noteworthy quotes and really pushes your mind to think about money and getting rich in a different way.
Rich Dad, Poor Dad, Robert Kiyosaki
Robert retired at the age of 47.
One of my favorite quotes from his book is “The poor and the middle class work for money. The rich have money work for them.”
A fun and motivational read that is an allegorical story comparing the teaching of Kiyosaki’s real “poor” dad to his childhood friend’s “rich” dad.
This book teaches you to stop thinking “I can’t afford” and instead “how can I afford it?”
Read more Amazon reviewers that reveal how this book changed their lives.
The Richest Man in Babylon, George Clason
Be advised, this book is written as if it were written way way back when (think “ye” and “thou”). Despite that, this book provides a timeless message.
Here are 7 main concepts:
1) Fatten thy purse.
2) Control thy expenditures.
3) Make thy gold multiply (I love how he likens money to tiny slaves/soldiers that continuously work for you).
4) Guard they treasures from loss.
5) Make of thy dwelling a profitable investment.
6) Insure a future income.
7) Increase thy ability to earn.
READ "THE RICHEST MAN IN BABYLON"
You Need More Money, Matt Manero
I have not read this book, but after reading the reviews there were several major things that stood out that I think warrant putting it on the list. After I read it I will give you my own personal opinion.
One reviewer likened Matt’s book as today’s version of The Richest Man in Babylon. They say “‘I’m going to tell you the truth-the actual steps that I took to go from zero to seven figures in my savings accounts.’ The book does just that.”
Unlike other personal finance books, this one includes actionable steps. (I’ll let you know about them ASAP)
START MAKING AND SAVING MORE MONEY TODAY
My husband and I have a steadily growing net worth of over $200k. This year we accumulated our first $100,000.
Powered with knowledge from these personal finance books I am learning how we can exponentially increase our wealth. I’ll be sure to share in a future post.
Don’t make the same mistakes we made struggling to get out of debt. Instead gather resources and come up with your own winning game plan.
These books will change your life.
Read any 2 books for free with a 30 day free trial of Amazon’s Audible.
What’s your favorite financial book or which one can’t you wait to read? I love getting new book recommendations.
