Our list of the 10 must-read books on personal finance offers advice for a range of readers, from newbies to the savvy. They span from fundamentals to advanced tips on budgeting, debt management, investing, and more.
10. “Your Money or Your Life” by Vicki Robin and Joe Dominguez (2008)
This book applies to readers at every level and unearths principles that remain true today. It will help readers understand and determine what money means to them, how much is enough, and how to reach financial independence. It also focuses on how to generate enough to live while conserving Earth’s resources.
9. “Get Good with Money: Ten Simple Steps to Becoming Financially Whole” by Tiffany Aliche (2021)
This book offers special consideration for women but applies to anyone building a budget from scratch. Author Tiffany Aliche, the “Budgetnista,” shares her 10-step process to financial serenity. She focuses on an ethos of financial wholeness while rejecting unnecessary complexity and the unrealistic nature of traditional financial advice. She’s helped over 1 million women worldwide save and pay off debt.
8. “The Bogleheads’ Guide to Investing” by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf (2007)
This book is geared toward beginning investors and makes a great first investing book. It’s clear and easy to understand. This book represents a movement away from attempts to time the market. Instead, it focuses on a slow and steady investment strategy that relies on a few simple principles, such as keeping investing expenses low. It advocates the index mutual fund.
7. “Financial Freedom” by Grant Sabatier (2019)
Author Grant Sabatier, the “millennial millionaire,” geared this book toward Millennials. It’s about creating more time to do what you love. He shares strategies that took him from a broke 24-year-old to a net worth of more than $1.25 million in five years. It’s a step-by-step guide toward achieving your goals. Topics include employer negotiations, side hustles, and investment strategies.
6. “The Total Money Makeover” by Dave Ramsey (2013)
A perfect book for borrowers seeking to get out of debt. It’s lauded for its tough approach to managing money. “The Total Money Makeover” can make a difference for anyone struggling to pay off credit cards and debt. It offers seven steps, including beginning with a $1,000 emergency fund. It also introduces the “snowball” strategy for paying off debt.
5. “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko (2010)
Here’s a book everyone can benefit from. Particularly younger individuals and families just getting started. It combines data with expert insights to uncover the truth of what truly goes into making a millionaire. It’s packed with simple but powerful ideas, such as, “Spend less than what you make.” It’s filled with surprising ways to save and lower expenses and taxes.
4. “The Psychology of Money” by Morgan Housel (2021)
For anyone who has a chronic overspending problem, this is the book that can help cure your affliction. This book will guide you in building the habits needed to stick to a budget and consistently make smart financial decisions. It reveals the ways people make decisions about money to give readers insight into their own behaviors regarding finances.
3. “Raising Financially Fit Kids” by Joline Godfrey (2013)
Only eight US states require high schools to teach students personal finance, so parents must ensure their children learn about money. Kids need to learn earning, saving, investing, and other positive money habits early on. This book teaches those skills, charitable giving, and financial sustainability. Lessons aim for five developmental stages: children, tweens, middle schoolers, high schoolers, and 20-somethings.
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2. “The Intelligent Investor” by Benjamin Graham and Jason Zweig (2006)
This book is geared toward intermediate to advanced investors. “The Intelligent Investor” goes into detail on the philosophy of value investing, in which investors seek stocks trading for less than their intrinsic value. Since it was first published in 1949, it’s been considered the “Stock Market Bible.” However, it’s been revised since with insights for modern investors.
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1. “Smart Women Love Money” by Alice Finn (2020)
Although geared toward women, the content applies to all beginning investors. Author Alice Finn isolates and attacks barriers standing in the way of women. She provides an overview of the challenges women face in the unique financial circumstances they experience. Then, she unveils five steps to successful investing, including allocating assets, regularly rebalancing the portfolio, and long-term investing.
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