The fact is, most of us suck at personal finance. This ineptitude when it comes to matters of money is not a bad thing; what is appalling is the reluctance to do anything about it. Personal finance can broadly be described as the act of managing your money, and it includes your investments, insurance, mortgage, retirement plans, amongst other things. The natural thing to do when you don’t know how to do something is to learn about it, and what better way than through the power of books. Below we have a list of the best personal finance books by people who have been there, done that, and have the t-shirt to prove it. Check it out, give a couple of them a read, and watch your personal finance change for the better.
The Best Personal Finance Book
The world has become a lot more complicated, and the topic of retirement is dreaded by many. Think about it for a moment; what will happen when your hands can no longer work? When you can no longer pull in income by going to the office daily? It’s a scary thought, we know, but it doesn’t have to be. With the excellent book by Suze Orman, The Ultimate Retirement Guide for 50+: Winning Strategies to Make Your Money Last a Lifetime, you can learn about excellent skills which you can use to secure your future.
As the author herself said: “I wrote this book for you. The worried, the fearful, the anxious. I know you need help navigating the road ahead. I’ve helped steer people toward happy and secure retirements my whole life, and that’s exactly what I want to do for you.”
Written with empathy and insight
Chock-full of helpful tips to secure your financial future
An in-depth look at concepts that seemed difficult before
Poignant advice for general life after work
- Author:Suze Orman
Ray Dalio is a man who knows a thing or two about personal finance, seeing as he was the brains behind Bridgewater Associates; which is a company that has a peerless reputation of making its clients mounds and mounds of money. Dalio started Bridgewater Associates in 1975 from a modest background, and through shrewd decisions and sheer grit was able to build the company into one of the most successful in the United States.
In a career spanning decades, Dalio has picked up on a couple of things that have helped him build something for himself and has impacted the world positively. In his book, Principles: Life and Work, he tries to break down the principles of life, management, economics, and so on, into sets of rules which can be digested and understood by anyone.
Contains nuggets to help grow yourself and your business
Written by Ray Dalio, one of America’s richest men
Easy and precise concepts that anyone can grasp
Filled with life lessons that go beyond finance
- Author:Ray Dalio
Just like spending time in the gym can help you get rid of excess fat and build muscles, so can spending time with personal finance books help you build your financial muscle and ultimately lead to a healthier economic life. Dave Ramsey in his book, The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness, helps you work those muscles and slowly build the financial fitness you’ve always desired.
Also, Ramsey helps to turn your skinny financial frame into a behemoth with tried and tested advice that is foolproof and easy to follow. In the book, there is no room for nutty schemes and get-rich-quick fixes that don’t work and leave you in an even worse state than before. Instead, Dave Ramsey teaches you sure-fire ways to give your finances a makeover that you will love to look at, as well as the principles of paying off any kind of debt.
Learn about money myths
The book helps you with debt repayment
Expand your knowledge about saving up for retirement
Simple and straightforward principles that anyone can understand
- Author:Dave Ramsey
Investing is a scary venture for many; but it doesn’t have to, especially if you have the right tools. In The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel, you can pick up the right tools and start investing smartly today.
Written by Benjamin Graham, the book has been updated to mirror the world we live in today; but you’ll also find that many of the rules of investing from back in the day are still of value today. Benjamin Graham was a teacher of leaders, and his principles of ‘value investing’ helped many investors to learn to develop long term strategies while also protecting them from making terrible errors.
Contains updated commentary by Jason Zweig
Praised by some of the best financial minds of the modern age
Provides sensible advice that any investor would be wise to follow
Filled with principles on investing that still work in the modern age
- Author:Benjamin Graham
Most people will tell you that real estate is one of the safest bets when it comes to investing. However, it also comes with its challenges that could lead you to financial ruin if you are not careful. This is why The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing! by Brandon Turner is a must-have if you are interested in investing in real estate. The book encompasses 400+ pages of great advice for those who want to get into real estate and need some help to learn the ropes.
Turner is an investor, author, and co-host of the BiggerPockets podcast, where he interviews investors and gives listeners nuggets on investing and saving. In this book, the aim is to equip the reader with information and hacks with which they can become millionaire property investors. On top of that, it is not only an excellent read for both newbies and veterans in the investing space, but it also gives practical lessons to building your financial muscle. You may also like some of the best strength conditioning books from our list, so check them out.
Lessons on why many investors fail and how not to end up like them
Teaches principles with which you can defer taxes
Is accessible and easy to read for both newbies and veterans
Helps you obtain financial freedom
- Author:Brandon Turner
There are many books, webinars, seminars, summits that claim to do the things this book does, but are unsuccessful. However, when this book called I Will Teach You to Be Rich, Second Edition: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works makes these claims; it is dead serious. Written by Ramit Sethi, an entrepreneur and the founder of growthlab.com, the book teaches you, just as it claims, to be rich. Making money is a skill; unfortunately, it is a skill that only a few people know.
However, the good news is that making money is also a skill that can be learned, and in ‘I Will Teach You to Be Rich’, you get to learn various things, including how to crush your debt. In addition, it also teaches about how to set up high-interest bank accounts that can yield more for you and how to funnel your money to go precisely where you want it to. Apart from this, the book also teaches about dealing with other human beings, including scripts that could help you talk your way out of late fees, and tips on how to talk your way to a raise at work. Our guide to the best self-help books from our list features more amazing titles like this, so check them out.
Learn how to talk your way out of late fees
The book teaches how to funnel your money to exactly where you want it
Find out how to pay for huge life expenses without stress
Learn how to save while still having a good time
- Author:Ramit Sethi
There are classic books, and then there is Think and Grow Rich. This Napoleon Hill classic was published in 1937, but a lot of the principles of making money have never changed and are still as relevant today as they were back in the day. Think and Grow Rich dares to ask the question: ‘What makes a winner?’ Many people will have different interpretations of this, but Hill explains the hallmarks of a winner and, in the process, used the lives of the most prominent individuals of the time to illustrate his points.
In this book, you can read about the lives of Andrew Carnegie, Thomas Edison, Henry Ford, and so on as well as find out the principles that led to their success. What’s more, the current edition of this classic contains the thoughts of Arthur R. Pell, Ph.D., a lecturer of some renown who gives this book a new lick of paint. While you can still find the inspiring stories of Edison, they are also interwoven with some of the modern greats, including Bill Gates, Mary Kay Ash, and so on. For all the fans of camping, we have prepared our selection of the best camping books.
Principles of success that are still relevant today
Get a window into the lives of some of America’s most successful people
Learn about money-making means that will help you grow rich
Updated version to appeal to modern audiences
- Author:Napoleon Hill
In 1997, the publishing world was taken up by a storm in the form of Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! This was a book that gained such mainstream attention that it then went on to sell over 32 million copies and was translated into 51 languages over 109 countries.
People everywhere were quoting from the book and trying to impart knowledge on their kids. Twenty-three years have now passed, but is the message from Rich Dad, Poor Dad outdated? No. The message is still as clear as ever and should be learned by everyone. Rich Dad, Poor Dad, grew in popularity in part due to the relatable way in which it is written; it tells the story of two dads: one rich, one poor, and how the lessons they imparted about money shaped the life of a young Robert Kiyosaki. In this book, you learn about what riches really mean and how you can get your money to work for you. If you are also into cooking, some of the best cookbooks from our list will help you improve your skills, so check them out.
Shatter some of the myths you have about money
Learn about the lessons the rich teach their kids
Lessons that are still relevant today
Find out the definitive difference between an asset and a liability
- Author:Robert T. Kiyosaki
Tony Robbins is a financial guru who has coached over 50 million people in over 100 countries. He has been called ‘superhuman’ by Oprah Winfrey and has played the role of mentor for over four million people. With that much clout, there is no reason why he should release a book imparting his knowledge on the rest of us; however, that’s precisely what he did. In his first book in two decades, Tony Robbins presented MONEY Master the Game: 7 Simple Steps to Financial Freedom to us and it teaches about the secrets to getting financial freedom and securing our family’s finances for the future.
In the book, Robbins dives headfirst and speaks to some of the leading minds in finance including Warren Buffet, Ray Dalio, Steve Forbes, and so on. What’s more, the information contained in this book isn’t filled with any information that will not be useful to you, and in it, you can find the definitive blueprint on how to make money. Robbins’ skillful storytelling makes this a gripping book that breaks down in the simplest terms, some of the most complex financial concepts known to man. You may also like some of the best adult coloring books from our list, so check them out.
Well researched and informative
Contains thoughts from some of the richest men in the world
Breaks down complex concepts into simple terms
Incredibly crafted and so much fun to read
- Author: Tony Robbins
If you look at the list of the wealthiest people, you’ll find a couple of names that will come as a shock to you as you realize that you have no idea who these people are. Millionaires are sometimes as non-descript as they come, however, they have secrets that have enabled them to build the riches which they now sit on.
Written by Thomas J. Stanley Ph.D., and William D. Danko Ph.D., The Millionaire Next Door: The Surprising Secrets of America’s Rich tells the stories of the millionaires who don’t look like millionaires and also explains how they attained this status by frugal living and smart decision making. Furthermore, the book also tells the story of those who make a good living but who cannot be considered millionaires because they try to live above their means and bow to the societal pressure that expects the ‘rich’ to live a certain way. Often surprising, but never dull, The Millionaire next door is an excellent book for aspiring millionaires to lay their hands on. For all those moments when you need to relax, check out our guide to the best graphic novels for adults, and pick your favorite.
Find out the surprising truth of America’s rich
Learn about how frugal and careful living can help you build wealth
Tips on how to invest
Surprising results that show that America’s rich aren’t who you thought they were
- Authors:Thomas J. Stanley Ph.D., William D. Danko Ph.D.
We’ve spoken a little about the genius of Benjamin Graham and how his many principles still hold up well today. This is one of the reasons why The Intelligent Investor Rev Ed. deserves a read. In the book, Graham sets out the principles of investment that have gone on to act as the stock market’s bible for many years since then.
The Intelligent Investor has been revised to suit modern audiences who now face modern problems that while the older text might have advice for, can’t encapsulate completely. And this revised edition contains updated commentary by Jason Zweig, a notable financial journalist who updates this book for modern sensibilities. Learn about the concept of ‘value investing’ which equips you with long-term strategies and helps shield you as an investor from avoidable mistakes.
Revised for modern audiences
Easy to grasp
Endorsed by Warren Buffet
Learn about value investing and turn your fortunes around
- Author:Benjamin Graham
In The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life, J.L. Collins breaks down the complexities of investing and makes it remarkably easy to grasp. The idea from the book came from a statement Collins’ daughter made where she said, “But Dad, I know money is important. I just don’t want to spend my life thinking about it.” That statement is profound because, on some level, we all feel the same, we know money is important, we just don’t want it to be all-encompassing in our lives.
With The Simple Path to Wealth, it doesn’t have to be. The book helps you explore concepts that might not be alien to you, but which might have been problems like debt, investment, wealth building, and preservation. Furthermore, all these concepts are implemented in a case study, which enhances your understanding of the topic and can go a long way in helping you secure your financial future.
Learn about debt, how to avoid it, and how to deal with it
The book simplifies challenging concepts like 401(k), 403(b), TSP, IRA, and Roth accounts
The best investment firm to use, and why
Facts about social security that you might never have known
- Author:JL Collins
Once more, we get an invitation to learn from the master that is Robert Kiyosaki as he takes us through the tips and tricks that can make us rich beyond our dreams. In Rich Dad’s Cashflow Quadrant: Guide to Financial Freedom, you get to learn the secrets the rich will never tell you, including how they make money and invest. If you have ever wondered how some people can work less, pay fewer taxes, and still somehow maintain a very comfortable lifestyle, this is the book for you.
That’s not all; you can learn the truth about how some investors incur very little risk while making a killing on the market. This is also a book for those who worry about making money in an information age that can feel foreign sometimes. Rich Dad’s Cashflow Quadrant helps you identify the changes in the market and how you can use these changes to your advantage to build your business and brand further. In conclusion, this quote from Kiyosaki sums it all up; “The main reason people struggle financially is that they have spent years in school but learned nothing about money. The result is that people learn to work for money… but never learn to have money work for them.”
Knowledge about smart investing
Learning to make money work for you
Take control of your financial future with a few simple steps
How to successfully transition from an industrial age to an information age
- Author:Robert T. Kiyosaki