Best Finance Books

After writing about the best financial books for beginners, I became curious to see what the best personal finance books are of all time.

There are a lot of financial advice books. There’s only so much time in a day.

I want every personal finance book I read to change my financial situation and mindset in a big way.

What are the MUST READ finance books?

Best financial books of all time

if you make a purchase, I may earn a small commission, at no cost to you.   

 

In my experience after reading dozens of financial books, the top personal finance book is Your Money or Your Life.

financial book

This book is a step-by-step guide on how to reach early retirement. There are real success stories.

It doesn’t just provide saving and investing money tips, it’s also focused on life philosophy.

It changed my outlook on money and jobs. It gave me new goals in life – it was actually the catalyst for this website. The 1992 original was recently updated so it’s timely. Here’s my full review of Your Money or Your Life.

 

I asked several personal finance experts and avid finance readers, “What is your favorite personal finance book?”

In order of most recommended, here are the 28 best books to learn about finance. Some of these personal finance books are popular bestsellers while others are under the radar (but just as compelling).

While below, you’ll see summaries and quotes from each financial book, you’ll also read…

Their recommendations and how it impacted their lives.

 

Many of these financial books are available through Audible, an Amazon company with the world’s largest selection of audio books.

If you don’t already have Audible, you can get a FREE 30 day trial, which gets you 2 FREE books! Even if you cancel within the free trial period, the books are yours to keep!

 

28 Best Personal Finance Books

1. Rich Dad Poor Dad

Summary: Rich Dad Poor Dad is about the author’s 2 dads – his rich dad (his best friend’s father) and his poor dad (his biological father).

His rich dad, who never finished grade 8, is a wealthy entrepreneur. His poor dad, who is a Stanford PhD, has a stable government job, but still struggles to pay the bills.

Related: Here’s my full review of Rich Dad Poor Dad.

 

Why is this the best finance book:

“My absolute favorite personal finance book of all time is Rich Dad Poor Dad. It’s incredibly well written from the first person of the author. He does an incredible job of tying in story and teaching throughout the entire book. It’s extremely easy to follow and has some of the most important personal finance rules everyone should follow to build wealth and freedom in their lives.”

– Kelan Kline, Founder of The Savvy Couple

 

“Rich Dad, Poor Dad is my all-time favourite and an amazing read, in the literal sense.

I cannot fully express how much this book transformed my vision of money. Most importantly my perception of wealth drifted. Before I read Rich Dad, Poor Dad, part of me was convinced that all “rich people” were born rich with golden luck. That you needed to have money to get rich and that the only solution was to join the rat race, although that is not what I called it at the time.

Nowadays, I am firmly convinced that you can learn how to become rich and that financial freedom is a realistic goal if you move towards it methodically and patiently.

I have become a true investor, in Kiyosaki’s sense of the word, and even if my assets do not yet make enough for me to live on. I am quite hopeful that this will be the case within 5 to 10 years. In any case, You can lose anything but not your skills and surely that’s the way to get money.”

– Shiv Gupta, CEO of Incrementors Web Solutions

 

“As far as personal finance goes, this book is the best of the lot. I say this because it demonstrates a money mindset and compares the traditional work-earn-spend mindset with the work-save-invest-earn mindset. I believe that it’s ideal for young people especially, to read in order to get a solid grasp of money.

The book doesn’t persuade any particular investment strategy, rather, it gives you real life examples of how to deal with money and how to use it to maximum potential.

After reading this, it takes practice to get your head around this way of thinking. It takes time and effort, no quick fix. However, it’s easy to read and I would definitely recommend this to everyone.”

– Alexander Lazutin, Founder of ICarta

 

Quotes from the Book:

  • “There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”
  • “Rule #1: You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is rule number one. It is the only rule. This may sound absurdly simple, but most people have no idea how profound this rule is. Most people struggle financially because they do not know the difference between an asset and a liability. “Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets,” said rich dad.”
  • “I find so many people struggling, often working harder, simply because they cling to old ideas. They want things to be the way they were; they resist change. I know people who are losing their jobs or their houses, and they blame technology or the economy or their boss. Sadly they fail to realize that they might be the problem. Old ideas are their biggest liability. It is a liability simply because they fail to realize that while that idea or way of doing something was an asset yesterday, yesterday is gone.”

best finance books to read

 

2. I will teach you to be rich

“The easiest way to get rich is to inherit. This is the second best way—knowledge and some discipline. If you’re bold enough to do the right thing, Ramit will show you how. Highly recommended.”
– Seth Godin

 

 “Ramit Sethi is a rising star in the world of personal finance writing . . . one singularly attuned to the sensibilities of his generation . . . His style is part frat boy and part Silicon Valley geek, with a little bit of San Francisco hipster thrown in.”
– San Francisco Chronicle

 

“Particularly appealing to the younger generation with its easy-to-read, no-holds-barred language.”
– Business Insider

Summary: I will teach you to be rich is a 6 week program on how to make and save more money. It’s comprehensive and includes topics from how to eliminate your student loans to how to handle buying a car or house. It also discusses investment strategy and the psychology of money.

 

Why is this the best finance book:

“My favorite personal finance book is “I Will Teach You To Be Rich” by Ramit Sethi.

I love this book because it gives personal finance tips and advice for people that may not be overly interested or qualified in finance. These are simple but powerful tips, such as the value of saving money, practicing financial discipline, and using compounding interest in your favor to build a large sum of savings over a long period of time. Unlike many personal finance books, there isn’t a learning curve to slow down understanding, and average readers without a comprehensive knowledge of money and finance can get a lot of value from it.

Personally, this book has been a reminder to take financial risks while I’m young, and use compounding interest to build a long-term savings account that will grow overtime. One of the tips from the book about taking a percentage from your paychecks and investing it into personal growth has been life-changing for my development, and the goals I’ve achieved.”

– David McHugh, CMO of Crediful

 

“I’ve been self-employed since 2007 and I specialize in learning things the hard way, so as you can imagine my journey to a sustainable business was rife with land mines. I set out to educate myself and by far, my favorite book on personal finance is I Will Teach You to be Rich by Ramit Sethi.

This book was my introduction to Sethi and I’ve been a follower of his since, and purchased a few of his courses (which have paid for themselves many times over) but the book was revolutionary to me at the impressionable age of 27.

For one, Sethi has an approachable, irreverent voice and never pulls a punch – this is a personal finance book that’s actually engaging to read, where most of them make you want to stick a corkscrew in your eye socket and swirl it around.

He shares personal stories as well as abusive messages he gets from the public, then breaks down the psychology of the message. His practical advice is blended with a shrewd understanding of mindset and this combination is aces at engendering understanding in the reader of their own blocks and invisible scripts surrounding money and the management of it.

Last year Sethi released an updated version which of course I pounced on. Everything great from the first version was there with updated advice – there is a smorgasbord for the beginning student of finance, as well as plenty for the already proficient. He covers automation big time, playing the long game of investment, as well as mindset and psychology.

The only thing I didn’t like about the first version Sethi also didn’t like – he gave very specific recommendations (like ING banking for example) which was later bought by Capital One. He vowed never to make explicit recommendations in a book again as they don’t age well.

Definitely recommend this read for anyone at any level of personal finance!”

– Rachel Strickland, Founder of Rachel Strickland and Creative

 

Quotes from the Book:

  • “The 85 Percent Solution: Getting started is more important than becoming an expert.”
  • “My friend Jim once called to tell me that he’d gotten a raise at work. On the same day, he moved into a smaller apartment. Why? Because he doesn’t care very much about where he lives, but he loves spending money on camping and biking. That’s called conscious spending.”
  • “Most of us fall into one of two camps as regards our money: We either ignore it and feel guilty, or we obsess over financial details by arguing interest rates and geopolitical risks without taking action. Both options yield the same results—none.”

books about personal finance

 

3. Total Money Makeover: A Proven Plan for Financial Fitness

Summary: Total Money Makeover is the revised and updated version to the original Total Money Makeover. There is also the Total Money Makeover Workbook that helps you apply the book’s principles. This book discusses how to budget and use the cash envelope system (not using credit cards). This book is broken up into 7 baby steps including saving an emergency fund, paying off debt using the debt snowball method, and others, which are his pillars to building wealth.

 

Why is this the best finance book:

“The Total Money Makeover from Dave Ramsey is my favorite personal finance book. I love how it spells out a path to success, while weaving people’s success stories throughout.

My wife, Jhanilka received a copy of the book as a gift from her father. It wasn’t until years later that we got serious and followed the seven Baby Steps to winning with money. We did it! We paid off $114,000 in only 23 months. Today, I recommend The Total Money Makeover to friends and family and often give out copies as gifts. You just never know who’s life you’ll change.”

– Anthony Hartzog

 

“The Total Money Makeover by Dave Ramsey was extremely influential on me as a college student just getting started with personal finance. Where many financial writers and teachers seemed intimidating and leaned on abstract concepts, Dave’s ability to be clear and direct was refreshing and empowering.

TMM helped make Dave’s financial “baby steps” famous. This is the most practical personal finance book I’ve ever read. Many writers in the personal finance realm like to nit-pick at Dave’s approach and argue that parts of it aren’t perfectly efficient, but in my opinion they’re missing the primary appeal of Dave’s plan. TMM essentially offers a fool-proof approach to getting on the right track financially.

For beginners or people who don’t consider personal finances to be a hobby or an interest, this is immensely valuable. Dave can help you “right the ship” financially with his “can’t miss” approach.”

– Mr. SR, Founder of Semi-Retire Plan

 

Quotes from the Book:

  • “Years ago, in a motivational seminar by the master, Zig Ziglar, I heard a story about how mediocrity will sneak up on you. The story goes that if you drop a frog into boiling water, he will sense the pain and immediately jump out. However, if you put a frog in room-temperature water, he will swim around happily, and as you gradually turn the water up to boiling, the frog will not sense the change. The frog is lured to his death by gradual change. We can lose our health, our fitness, and our wealth gradually, one day at a time. It might be a cliché, but that’s because it is true: The enemy of “the best” is not “the worst.” The enemy of “the best” is “just fine.”
  • “Winning at money is 80 percent behavior and 20 percent head knowledge. What to do isn’t the problem; doing it is. Most of us know what to do, but we just don’t do it. If I can control the guy in the mirror, I can be skinny and rich.”
  • “Someone who never has fun with money misses the point. Someone who never invests money will never have any. Someone who never gives is a monkey with his hand in a bottle.”
  • “I tell everyone never to take more than a fifteen-year fixed-rate loan, and never have a payment of over 25 percent of your take-home pay. That is the most you should ever borrow.”

books about personal finance

 

4. MONEY, Master the Game: 7 Simple Steps to Financial Freedom, by Tony Robbins

“A distillation of just about every good personal-finance idea of the last 40 years. Mr. Robbins passionately advocates diversification, buying index funds to keep investment expenses low and increasing the percentage you save every time you get a raise.”

– New York Times

 

“A commanding book….after reading this book, readers will be armed with the essential tools they need to gain control of their financial future and chart a path to success.”

– Publishers Weekly

 

“That rare gift that keeps on giving….Robbins has produced a book that will appeal to both the beginner and the most sophisticated money jockey overseeing multibillions of dollars in assets….If there were a Pulitzer Prize for investment books, this one would win, hands down.”

– Forbes

Summary: Written by Tony Robbins, MONEY, Master the Game is a 7 step blueprint to financial freedom. It’s based on research and interviews with more than 50 financial experts from Carl Icahn to Warren Buffett.

 

Why is this the best finance book:

“Tony Robbins may be more well known for his public speaking and his firewalks, but, not surprisingly, he’s also a money master. His book was life-changing for me and one I always recommend to anyone looking to take control of their finances, start a business, or gain the wealth they want to live their best life.

The book draws on advice from financial pros like Warren Buffet and outlines a 7-step process that first, helps the reader break through their fears and overcome their past circumstances to get their money working for them.

The key to this book is stated in the forward by Marc Benioff, founder and CEO of Salesforce cloud-based software. He writes, “This book really isn’t about money, it is about creating the life you want.”

With that in mind, the book will help you learn to think like a successful person to take the steps, not just to financial freedom, but to success in every area of life.

Diving deep into investing, it shares a few key tips:

First of all, never try to time the market. Data shows that no matter when you enter, you will earn more by investing than by just keeping it in the bank.

Secondly, it hammers home the power of compound interest. For the uninitiated, compound interest refers to collecting interest on your interest. So when you reinvest interest, instead of cashing out on an investment, the interest you’ll earn for the next period is based on your initial investment PLUS what you’ve already earned. Money can add up quickly when that happens.

Tony Robbins uses this example to illustrate compound interest: A man begins investing – $300 a month – but doesn’t get started until age 27. Still he’s a disciplined guy, and he keeps investing $300 every month until he’s 65 – a period of 39 years. His money also compounds at 10% a year. The result? When he retires at 65, he’s sitting on a nest egg of $1,589,733.

If you understand the power of compound interest, which many people do not, you can master the money game.”

– Wade Schlosser, Founder and CEO of Solvable

 

Quotes from the Book:

  • “Remember: we all get what we tolerate. So stop tolerating excuses within yourself, limiting beliefs of the past, or half-assed or fearful states. Use your body as a tool to snap yourself into a place of sheer will, determination, and commitment. Face your challenges head on with the core belief that problems are just speed bumps on the road to your dreams. And from that place, when you take massive action—with an effective and proven strategy—you will rewrite your history.”
  • “Remember: we’re drowning in information, but we’re starving for wisdom.”
  • “Life isn’t about waiting for the storm to pass; it’s about learning to dance in the rain. It’s about removing the fear in this area of your life so you can focus on what matters most.”
  • “The secret to wealth is simple: Find a way to do more for others than anyone else does. Become more valuable. Do more. Give more. Be more. Serve more.”
  • “My teacher Jim Rohn taught me a simple principle: every day, stand guard at the door of your mind, and you alone decide what thoughts and beliefs you let into your life. For they will shape whether you feel rich or poor, cursed or blessed.”

best books on money

 

5. Your Money or Your Life

“This is a wonderful book. It can really change your life.”
– Oprah

 

“The seminal guide to the new morality of personal money management.”
– Los Angeles Times

 

“Vicki Robin wrote the book on retiring happy. Now a whole new generation is taking her advice. [She is] the millenial money whisperer.”
– Money Magazine

Summary: Your Money or Your Life is a step by step guide on how to reach financial independence. While it does provide saving and earning money tips, there is a large focus on how to change your money mindset and transform your outlook and relationship with money and jobs.

Related: Here’s my full review of Your Money or Your Life.

Why is this the best finance book:

“Up until my early 30s, I was really clueless about my personal finances. No one told me how to take care of them and I did not understand why I should plan my expenses more carefully. As a result, for years I lived from paycheck to paycheck, and I did not have financial freedom.

All that changed when I entered my 30s. I had started planning for the long term and was thinking about investing in real estate, and possibly starting my own business. But I needed money.

There was one book that completely changed how I look at money. Vicki Robin and Joe Dominguez’s core mantra, which they lay out in their book, “Your Money or Your Life, 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence”, is quite simple: living frugally will actually make you happier.

Shocking, right?

Another thing that the two authors imply is that going to work shouldn’t be a dreadful experience. If you find a job that is according to your liking, even if it pays less, you should go for it, as opposed to choosing something that pays well, but which makes you feel bad about yourself.

It does make you think about things. A couple of years ago, I decided to do what both Robin and Dominguez suggest, and that completely changed my life and opened up a new career path. The book also taught me how to be more responsible for my personal finances and how to adapt to any financial situation. Now I’m 36 and I can safely say that if it weren’t for that book, I would have been in a much worse financial situation, and with no real prospects for decent work.”

– Christian Antonoff, Content Writer at My Speech Class

 

“This one resonated with me as it encourages you to consider the importance of money in your life, and helps you figure out your motivators for earning and spending money. It made me step back and think about my bigger, longer-term goals, and this helped me figure out how to make decisions about budgeting and investing more easily.

A lot of personal finance books don’t quite get the balance right between money and happiness, and this one really shifted my perspective and helped me realize what was important to me, and what money decisions I can make that will improve my happiness long-term.”

– James Croad, Head Writer at Music Grotto

Quotes from the Book:

  • “Frugality is enjoying the virtue of getting good value for every minute of your life energy and from everything you have the use of.”
  • “It is easier to tell our therapist about our sex life than it is to tell our accountant about our finances.”
  • “He who knows he has enough is rich.”
  • “Along with racism and sexism, our society has a form of caste system based on what you do for money. We call that jobism, and it pervades our interactions with one another on the job, in social settings and even at home. Why else would we consider housewives second-class citizens? Or teachers lower status than doctors even though their desk-side manner with struggling students is far better than many doctors’ bedside manner with the ill and dying?”

books about money

 

6. Happy Money: The Science of Happier Spending

“Packed with tips…people will come away from this book believing it was money well spent.”

– The Economist

 

“Dunn and Norton strive to show how to spend money in less typical but more pleasing ways. They offer five principles you can use to buy happiness…. I love the five principles of happy money because they aren’t about getting more money but getting more out of the money you have.”

– Michelle Singletary, The Washington Post

 

“University of British Columbia psychology professor Dunn and Harvard Business School marketing professor Norton, friends from graduate school, offer a witty, lively guide to changing the philosophy behind spending so that it brings you true joy…. Readers cannot help but be charmed by this funny, warm guide to creating the good life from scratch.”

– Publishers Weekly

 

“If you think money doesn’t buy happiness, then you’re just not spending it right. In this lively and engaging book, Dunn and Norton use the latest scientific research to show how you can get a bigger emotional bang for your hard-earned bucks. Happy Money isn’t a purchase; it’s an investment—and a shrewd one at that.”

– Daniel Gilbert, Author of Stumbling on Happiness

Summary: Happy Money: The Science of Happier Spending focuses on the science of smarter spending and how to get the most happiness for your money. Based on behavioral science research, the book discusses what brings you true happiness like experiences vs. stuff, things that save you time, or donations or gifts to others. It also shares what businesses are doing to create happier employees.

 

Why is this the best finance book:

“I gift this book to my new clients. Most personal finance books focus on the nuts and bolts; they are all saying the same basic thing: spend less, save more, invest wisely over time. Happy Money has an entirely different focus: “If you think money doesn’t buy you happiness, then you are not spending it right.”

This book shares five core principles (backed by research) of happier spending. These principles are easy to follow, and I’ve (and many of my clients) incorporated them into my own life. They have made a big difference.

The “Buy Experiences” principal has been a game changer in my family – we focus our spending more on family outings (escape rooms, unique restaurants, funky activities, etc.) and less on the latest gadgets.”

– Mark Wilson, President of MILE Wealth Management

 

“Happy Money provides actionable strategies for how everyday people can get more happiness out of their money. The authors do a fabulous job of condensing years of research into five core principles that people can enact in their daily lives.

The principal of Buying Experiences, rather than objects, helped me to change my mindset when it came to my children. With practice, we shifted our spending approach to focus more on experiences for the kids, like family travel, summer camps, art classes and visiting museums.

The principal of Buying Time helped me to make the decision to work four-days a week at my job so I could commit to spending one day a week with my family. It turned out to be one of the best decisions I ever made, and was well worth the pay cut.

The principle of Pay Now, Consume Later helped my family realign our spending with our values. We stopped using our credit card entirely, and paid for everything in cash or via a debit card. This forced us to focus on what really mattered and made us more aware of the dollars we were spending on certain items.

It also empowered us to schedule, and pay for, more experiences up front so we could enjoy the weeks and months of anticipation building up to the actual event. And then when the experience actually came, we didn’t have to pay a dime–we had already paid for it!”

– Jay Abolofia, Financial advisor and Founder of Lyon Financial Planning

 

Quotes from the Book:

  • “By focusing on how to spend the money you have rather than how to accumulate more of it, our perspective departs from the obsession with chasing increased wealth in the pursuit of happiness.”
  • “By paying up front and delaying consumption, you can buy more happiness even as you spend less money. Because delaying consumption allows spenders to reap the pleasures of anticipation without the buzzkill of reality. Vacations provide the most happiness before they occur.”
  • “Additional income provides surprisingly little additional happiness.”
  • “Uniting the five principles of this book is one simple premise. Before you spend that $5 as you usually would, stop to ask yourself: Is this happy money? Am I spending this money in the way that will give me the biggest happiness bang for my buck?”
  • “Satisfaction with experiential purchases tends to increase with the passage of time, while satisfaction with material purchases tends to decrease.”

best books for financial literacy

 

7. The Millionaire Next Door: The Surprising Secrets of America’s Wealthy

“The implication of The Millionaire Next Door…is that nearly anybody with a steady job can amass a tidy fortune.”
– Forbes

 

“Debunks the image of the rich as high-living spendthrifts.”
– U.S. News and World Report

 

“A primer for amassing wealth through frugality.”
– The Boston Globe

Summary: The Millionaire Next Door is the original version to the updated The Next Millionaire Next Door. Based on thousands of interviews of U.S. millionaires, the original discusses the 7 common traits among the wealthy. The updated one is written by the daughter of the original author who passed away. It dives into another investigation of millionaires 20 years later and offers a comparison analysis.

 

Why is this the best finance book:

“Through the study of actual millionaires, the researchers were able to identify the mindset, habits, and other characteristics of the wealthy. Interestingly, most millionaires who participated in the study were not flashy, nor did they live extravagantly. Most of the millionaires lived in middle-class neighborhoods and not in more affluent areas.

The book presented many wonderful principles about wealth accumulation based on real-world examples. For example, virtually all of the millionaires found their success by living below their means, avoiding status objects, and investing their money prudently.

Quite simply, the book lays out a reliable roadmap that, if followed, could lead nearly anyone to become a millionaire. It is the first book I recommend on the topic of personal finance because it helps the reader develop the proper mindset for wealth. Once this high-level strategy is understood, everything else is simply refining the details.

The main thing that I don’t like about the book is that, although the principles are timeless, the figures and some other details are now outdated. Also, I believe the formula presented by the authors to determine whether one is a Prodigious Accumulator of Wealth (PAW) or an Under Accumulator of Wealth (UAW) is overly simplified and has several shortcomings. However, it can serve as a good rule of thumb.”

– Laurence Namdar, Financial Advisor at Asher Levi Financial

 

Quotes from the Book:

  • “Good health, longevity, happiness, a loving family, self-reliance, fine friends … if you [have] five, you’re a rich man….”
  • “I am not impressed with what people own. But I’m impressed with what they achieve. I’m proud to be a physician. Always strive to be the best in your field…. Don’t chase money. If you are the best in your field, money will find you.”
  • “Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.”

best books about finance

 

 

8. A Random Walk Down Wall Street

“If one of your New Year’s resolutions is to improve your personal finances, here’s a suggestion: Instead of picking up one of the scores of new works flooding into bookstores, reread an old one: A Random Walk Down Wall Street.”

–  New York Times

“Do you want to do well in the stock market? Here’s the best advice. Scrape together a few bucks and buy Burton Malkiel’s book. Then take what’s left and put it in an index fund.”

– Los Angeles Times

“Talk to 10 money experts and you’re likely to hear 10 recommendations for Burton Malkiel’s classic investing book.”

– Wall Street Journal

Summary: A Random Walk Down Wall Street provides a detailed overview on how to invest in the stock market and allocate your assets. It touches on a wide variety of investing strategies and provides historical context.

 

Why is this the best finance book:

“Reading A Random Walk Down Wall Street by Burton Malkiel as a beginning investor was a real “light bulb” moment for me. In Malkiel’s classic book, he explores a variety of topics investors will hear discussed by friends, advisors, journalists, and financial services workers. He explores markets, bubbles, speculation, technical analysis, market efficiency, portfolio strategies, and index funds.

Ultimately, Random Walk gave me the knowledge to feel confident and empowered in my investing. I understood enough of “why” and “how” to make fund selection choices and ask strategic questions when discussing my portfolio with an advisor.

Perhaps most valuable of all, Random Walk educated me enough to identify and avoid poor investment strategies and scams.

Random Walk is my go-to recommendation for any beginning investor who wants to dig deeper and be informed about their investment choices.”

– Mr. SR, Founder of Semi-Retire Plan

 

Quotes from the Book:

  • “It is not hard to make money in the market. What is hard to avoid is the alluring temptation to throw your money away on short, get-rich-quick speculative binges. It is an obvious lesson, but one frequently ignored.”
  • “I view investing as a method of purchasing assets to gain profit in the form of reasonably predictable income (dividends, interest, or rentals) and /or appreciation over the long term.”
  • “Tip of the Week If you bought $1,000 worth of Nortel stock one year ago, it would now be worth $49. If you bought $1,000 worth of Budweiser (the beer, not the stock) one year ago, drank all the beer, and traded in the cans for the nickel deposit, you would have $79. My advice to you…start drinking heavily.”

best books for understanding finance

 

9. Why Didn’t They Teach Me This in School?

“This book features eight important lessons focusing on 99 principles that will quickly and memorably enhance any individual’s money management acumen. I like this book because it’s easy to understand and the principles are ready to use.”

– Forbes

“As the name implies, this book is about all of the basic personal finance lessons that they probably should’ve taught us in school and didn’t. There are 99 tips, tricks, and lessons for personal finance that pretty much everyone should know and reviewers have called it a “great gift idea for high school and college graduates.” We happen to agree.”

– Life Hack

“The lack of basic information taught in our public schools on the topic of money management (and life, in general) is a total embarrassment. The very place we’d expect to be taught these critical skills is the last place any of us ever learned how to get a handle on it. This book breaks down what we should’ve learned about managing our money growing up.”

– Elite Daily

Summary: Written by Cary Siegel, Why Didn’t They Teach Me This in School? shares 99 personal money management principles that’s perfect for students to digest and apply. The author originally wrote this book for his 5 children as they entered adulthood.

 

Why is this the best finance book:

“The book includes 99 straight-forward, standardized, simple, beginning-friendly, practical and often common sense concept financial investing concepts. I like this book because it taught me how to take small learning steps and make meaningful plans for my personal financial life and taught me how to manage my money so it doesn’t end up managing me. It is an exciting learning process and this book covers the most basic financial information.”

– Matt Scott, Owner of Termite Survey

 

“This book has invaluable lessons that Cary learned himself as he navigated through his financial life. It has 99 practical principles for personal money management that are taught in a brief and concise manner. I would recommend it to college students or anyone who is entering the work life and wants guidance on how to better manage their money for achieving financial freedom.”

– Hamna Amjad, Outreach Consultant at DSRPT

 

Quotes from the Book:

  • “Home mortgage—If you pay one extra month’s mortgage (write, “Principal only” on the check and send a note to the lender), you will take seven years off a thirty-year mortgage.”
  • “Politeness—Saying, “Please” and “Thank you” will get you far in life. It sounds silly, but, believe me, it’s true. Don’t take others for granted; instead, make them feel appreciated. I promise you three things: Showing appreciation will make others feel good, it will make you feel good, and it will help you out professionally. It’s amazing how many people forget about this in their professional lives. Persistence—Half the battle is showing up every day and putting your best effort behind what you’re doing. If you try your hardest all the time, no one will ever fire you, and as a result, you will find yourself in an economically secure place.”
    best books to learn about money

 

10. You Are A Badass at Making Money

“A cheerful manifesto on removing obstacles between yourself and the income of your dreams.”

– New York Magazine

 

“This book truly crystallizes the concept that financial abundance is an inside job—in that it all begins with your mindset—and Sincero gets serious (in the funniest ways possible) about helping you identify your particular limiting beliefs surrounding money.”

– PopSugar

Summary: You Are A Badass at Making Money draws on her own success story and shares her tips on how to make money by uncovering what’s mentally holding you back and shaking off these excuses and fears.

 

Why is this the best finance book:

“You Are A Badass at Making Money by Jen Sincero is one of my favorite personal finance books for people looking to learn how to master a positive money and business mindset.

This book teaches the reader ways to think about money, your business and your life so that you attract more into it. The book is also written by a women in a way many women will understand and feel connected to, something many male-authored money and business books are currently lacking.”

– Stacy Caprio, Founder of Accelerated Growth Marketing

 

“My favourite personal financing book is “You Are A Badass At Making Money” by Jen Sincero. One concept that improved my view of progress is the desire to adapt. If you’d like to make even more money than what you are earning right now, you need to be prepared to make certain adjustments in your life, particularly improvements and sacrifices that will take you out of your personal bubble.

Whatever your personal preferences are, make it absolutely clear that you need to make a deliberate effort and be able to alter your behaviors before you can actually improve them.”

– Carolyn Cairns, Marketing Manager with Creation BCI

 

Quotes from the Book:

  • “The walls of your comfort zone are lovingly decorated with your lifelong collection of favorite excuses.”
  • “Worrying is praying for stuff you don’t want.”
  • “What you focus on you create more of.”
  • “Time wasted rationalizing the mediocre could be time spent creating the magnificent.”
  • “What comes out of your mouth comes into your life.”
  • “RICH: Able to afford all the things and experiences required to fully experience your most authentic life.”

best book to learn about finance

 

11. Broke Millennial: Stop Scraping By and Get Your Financial Life Together

“COLOR OF MONEY” Book Club Pick in the Washington Post

 

“Spot on, often funny financial advice…This is the wisdom I wish I had in my twenties and early thirties.”

– Lynnette Khalfani-Cox, New York Times Best-Selling Author of Zero Debt

Summary: Written by Erin Lowry, Broke Millennial is about how to take control of your money, particularly if you’re a millennial. It handles topics that are ideal for millennials like how to manage student loans and what to do when you’re out with your friends and you can’t afford to split the bill evenly.

 

Why is this the best finance book:

“Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry is a book written for the financially lost generation: the millennials.

When I talk about money with people of my age, I often sense the despair and a kind of taking-for-granted attitude that their finances will be screwed for the next few decades. More often than not, this mindset comes from crippling student debt that makes their finances truly looking grim.

Broke Millennial offers a perspective and a way of looking at finances specifically useful to people who got out of college and are considering their first financial and career moves. Those people often feel they are left without a helpful guide around – most financial books are written for well-off, senior people who want to diversify their portfolio and need advice on where to invest.

Erin Lowry’s book uses a light, humorous approach that is relatable to people of younger generations and puts an optimistic perspective on managing personal finances.

I warmly recommend the book to all the beginners out there who have no clue where and how to begin their independent, adult life and acquire a stable financial situation.”

– Milos Djordjevic, Co-Founder at SaveMyCent

 

Quotes from the Book:

  • “My money mantra is very simple, either you control money or money controls you. And my goal is just to make sure that you’re in control.”
  • “Whatever the reason, we are looking at the numbers, it happened, let’s forgive ourselves & move the eff on.”
  • “Studies have shown, by the ages of between 8 and 10, we’ve really kind of coded our relationship with money based on what we’re raised around.”

best book to understand finance

 

12. Unshakeable: Your Guide to Financial Freedom’ by Tony Robbins

“Robbins is the best economic moderator that I’ve ever worked with. His mission to bring insights from the world’s greatest financial minds to the average investor is truly inspiring.”

– Alan Greenspan, Former federal reserve chairman under four sitting presidents

 

“It’s rare that an outsider steals the spotlight and becomes a respected voice of impact in the financial industry. Robbins does it again with a new book to prepare us and help us profit from the inevitable crashes and corrections to come.”

– Anthony Scaramucci, Co-Host of Wall Street Week

 

“Tony Robbins needs no introduction. He is committed to helping make life better for every investor. Every investor will find this book extremely interesting and illuminating.”

– Carl Icahn, Billionaire Activist Investor

Summary: Unshakeable is Tony Robbin’s second financial book. It builds upon his previous book MONEY, Master the Game. Unshakeable is about how to have an unshakeable mindset when there’s volatility and fear in the markets.

 

Why is this the best finance book:

“There are a few books that make you think, take action, and use the tips even before you finished reading the whole thing. “Unshakeable: Your Financial Freedom Playbook” by Tony Robbins is one of those books.

Although the principals described in it may be evident for some people, this book really inspires to follow those concepts. This book taught me to invest money, not just keeping it in cash at home.

It helped to improve my financial situation and completely changed my money mindset. I recommend this book as it will teach you to become more confident with your finances, and will show you how to make smart decisions and achieve your financial goals.”

– Anzhela Vonarkh, Senior Content Manager at TheWordPoint

 

Quotes from the Book:

  • “I can tell you the secret to happiness in one word: progress.”
  • “People love to say that knowledge is power. But the truth is that knowledge is only potential power.”
  • “People can be sincere — and sincerely wrong.”
  • “Yesterday is but a dream. And tomorrow is only a vision. But today well lived makes every yesterday a dream of happiness. And every tomorrow a vision of hope.”
  • “The best opportunities come in times of maximum pessimism.”

best book for learning finance

 

13. The Simple Path to Wealth

“Let’s face it: Most investment books are boring. Dull. Uninspired. This book brings managing your money to life. JL Collins offers a one-two punch: a simple, effective message told in a visual, funny style. If you think ‘investing is boring’ or ‘investing is hard,’ read this. You’ll never say those lines again.”

– Paula Pant, Afford Anything

 

“The media claims stock investing is no better than gambling. Wall Street pros claim investing is so complicated you need to pay THEM to guide the way. Collins cuts through the crap. He demonstrates a simple, level-headed way to wealth that will lead you to a richer life.”

– J.D. Roth, Money Boss

Summary: Written by J.L. Collins, The Simple Path to Wealth is about how to achieve financial independence through the straightforward steps of eliminating debt, saving money, and investing in the stock market. His focus is on low-cost index funds.

 

Why is this the best finance book:

“This book provides an accessible and easy to grasp blueprint for anyone who desires to become financially independent. It outlines and explains a set of principles to generate enough passive wealth to fund the lifestyle you want through eliminating debt, understanding the stock market, investing intelligently, and maintaining focus and discipline even during the ups and downs of the economy.

This book goes into the proper depth on each subject without getting unnecessarily technical and leaves readers with enough knowledge and confidence to make the right decisions without being paralyzed with too many options. An excellent choice for those early in their personal finance journey as well as those who are well along the way.”

– Adam Sanders, Director of Successful Release

 

Quotes from the Book:

  • “There are many things money can buy, but the most valuable of all is freedom. Freedom to do what you want and to work for whom you respect.”
  • “You own the things you own and they in turn own you.”
  • “Look again at those people around you. For most, debt is simply a part of life. But it doesn’t have to be for you. You weren’t born to be a slave.”
  • “I may not have owned a Mercedes, but I owned my freedom. Freedom to choose when to leave a job and freedom from worry when the choice wasn’t mine.”
  • “It’s not hard. Stop thinking about what your money can buy. Start thinking about what your money can earn. And then think about what the money it earns can earn.”

books for financial literacy

 

14. The Automatic Millionaire

“His easygoing approach, complete with real-life examples and clever phrases such as ‘Latte Factor,’ will appeal to the many money-challenged consumers who have made a New Year’s resolution to get their finances on a firmer footing.”

– Publishers Weekly

Summary: The Automatic Millionaire starts off with the story about the average American couple who has been able to retire at 55 with more than $1 million in savings and no mortgage. Through this story, the author teaches a simple and realistic personal finance system to become a millionaire.

 

Why is this the best finance book:

“The Automatic Millionaire is an amazing book by David Bach, who has interestingly plotted the plan for you to retire rich.

In this book, he has urged on one thing that you need to do to retire. That is “Pay Yourself First.” The book talks about why paying yourself first will enable you to become a millionaire, automatically, and describes the seven-step plan for financial success.

David Bach has cleverly used his words to tell about automating your finances so you can focus on your living. He has also described the technical setup that will help you forget about and grow your wealth. From paychecks to your savings, investment accounts, debt pay accounts, and charity, he has beautifully described how to live a happy life even after retirement..”

– Nicholas Holmes, Founder of Product Reviewer

 

Quotes from the Book:

  • “Life is not easy. But that’s not the only truth that matters in this context. It also happens to be true that it takes just as much effort to have a “bad life,” in which you don’t get what you want, as it does to have a “good life,” where you do. So given the choice, why not go for the good life?”
  • “In fact, studies show that less than 1 percent of Americans write down specific goals for themselves each year. That’s a shame, because writing down your goals is powerful.”
  • “Money is not an end in itself. It is merely a tool to help us achieve some particular goal. If the way we handle our money conflicts with our personal values, we are not going to wind up living happy and fulfilled lives.”
  • “A latte spurned is a fortune earned.”

best books to gain financial knowledge

 

15. All Your Worth: The Ultimate Lifetime Money Plan

“More clearly than anyone else…[the authors] have shown how little attention the nation and our government have paid to the way Americans really live.”

– The New York Times

 

“Warren understands something almost intuitive about American society that seems to give most other people trouble. Most of us don’t want to think about our finances as often as we are forced to. “All Your Worth” is designed to get us to that place. In fact, it’s damning — of American society, of the age of inequality — that so many people can try to follow its advice and still find themselves in financial trouble.”

– Washington Post

Summary: All Your Worth: The Ultimate Lifetime Money Plan shares the simple strategies for how to get your money in balance. It doesn’t involve tracking every penny in a complicated budget. It’s based on paying attention to your must-have bills, your occasional wants, and your savings.

 

Why is this the best finance book:

“Most people know Senator Elizabeth Warren as, well, a U.S. Senator and erstwhile U.S. Presidential candidate. Finance wonks might know that she was an early and vocal advocate for the creation of the Consumer Financial Protection Bureau, too.

Most folks don’t know Elizabeth Warren as a personal finance author, but that she is. Back in 2006, she co-authored “All Your Worth: The Ultimate Lifetime Money Plan,” with her daughter, Amelia Warren Tyagi.

Though “All Your Worth” is exhaustively researched — more than two decades of legwork went into the book’s conclusions — it’s disarmingly approachable for personal finance novices and more than capable of flipping the reader’s “money mindset” on its head. (Not to mention convincing them that they don’t need an overcomplicated budget.).

Warren and Tyagi lay out a plan for dividing your money into three buckets or parts: 50% for the Must-Haves (essentials like housing and transportation), 30% for the Wants (basically, discretionary purchases), and 20% for savings (the foundation for a better life in the future). If you’ve heard of the 50/30/20 rule, that’s where it came from — and we’ve identified that rule as a reliable way to tame money anxiety.”

– Brian Martucci, Personal Finance Expert at Money Crashers

 

Quotes from the Book:

  • “Everything we stand for can be expressed in terms of how we spend our money.”
  • “Here’s a little secret that the other financial books won’t tell you: Savvy money managers don’t spend a lot of time looking for ways to save a few pennies. They charge right ahead to the big-ticket items, looking to make high-impact changes in the shortest period of time. They don’t sweat the small stuff. And neither will we.”
  • “If you are overspending on these big monthly bills, then money is draining out of your pocket a lot faster than you can replace it by getting double coupons on your frozen vegetables.”
  • “In today’s world, you can get a mortgage that is too big for you—and the banks will help you do it. You can get a car lease that chews up half your income. You can wind up with a student loan bigger than some home mortgages. And as sure as the sky is blue, you can rack up credit card debt without blinking an eye, even if you don’t have 50 cents to make the payments.”

best money management books

 

16. Dave Ramsey’s Complete Guide To Money

Summary: Dave Ramsey’s Complete Guide To Money is a comprehensive guide on Dave Ramsey’s personal finance philosophies and practices including how to budget, save, and invest. Other topics include insurance, mortgage options, bargain hunting, and giving.

 

Why is this the best finance book:

“I recommend this book to folks who want to master the basics of personal finance: Dave Ramsey’s Complete Guide To Money.

Dave Ramsey has authored seven best-selling books on personal financial management, and he’s a highly regarded commentator on a wide variety of money matters. In this comprehensive, easily digested book (331 pages long), readers will learn about the financial skills required for personal economic success in the 21st Century.

Dave covers topics such as budgeting, saving, investing, and dramatically reducing debt, while also teaching readers about insurance, emergency funds, and the nuts & bolts of mortgages.

This book altered how I thought about ‘debt’ and provides an excellent foundation for financial novices who are beginning to learn about the economic world in which we live.”

– Timothy G. Wiedman, Associate Prof. of Management & Human Resources (Retired) at Doane University

 

Quotes from the Book:

  • “You must gain control over your money or the lack of it will forever control you.”
  • “For your own good, for the good of your family and your future, grow a backbone. When something is wrong, stand up and say it is wrong, and don’t back down.”
  • “Change is painful. Few people have the courage to seek out change. Most people won’t change until the pain of where they are exceeds the pain of change.”
  • “You must walk to the beat of a different drummer. The same beat that the wealthy hear. If the beat sounds normal, evacuate the dance floor immediately! The goal is to not be normal, because as my radio listeners know, normal is broke.”
  • “It is human nature to want it and want it now; it is also a sign of immaturity. Being willing to delay pleasure for a greater result is a sign of maturity.”

financial books to read in

 

17. Choose FI: Your Blueprint to Financial Independence

“This book is outstanding. A proven and effective financial philosophy coupled with specific, actionable advice addressing the biggest challenges to FI (including housing, health insurance, and more). This well-researched, easy to read book is brought to you by three of the finest students of FI around and should be on everyone’s reading list.”

– Scott Trench, CEO of Bigger Pockets

 

“This book is a practical, actionable and inspirational guide to taking command of your financial freedom and designing a future you can’t wait to live into.”

– Dominick Quartuccio, Author of Design Your Future

 

“This is a comprehensive book about how to become financially independent, filled with personal stories and inspirational examples of those in the FIRE (Financial Independence Retire Early) community.”

– Kristy Shen, Co-author of Quit Like a Millionaire

Summary: Choose FI discusses the blueprint to financial independence. Topics include having a growth mindset, questioning what’s a required expense, and discussing investment strategies that work with your lifestyle.

 

Why is this the best finance book:

“Choose FI is an enjoyable read with actionable steps for everyone on the journey to financial independence.

This book is an ideal blueprint for you whether you are currently tackling debt or looking to build wealth and retire. It will support your efforts to clean up your finances by saving and investing money. You will also learn how to shift your mindset, identify your financial values, and spend less to get more out of life.

The authors of this book are experts in the personal finance industry but approach financial independence as regular people, breaking it down into attainable goals.”

– Sam Hawrylack, Co-Founder of How To FIRE

 

Quotes from the Book:

  • “FI is not about retiring early or retiring at all really. It’s all about having the freedom and flexibility to design your life in alignment with your values. You can work on things important to you. You can work at your own pace. Or you can choose not to work at all. FI gives you the power to decide. It allows you to use your money as a tool to live a rich life, freeing yourself from the need to go to a job.”
  • “Early Retirement is very different from traditional retirement. It’s not about what you are running from, but what you are running to. It’s not about never working again but claiming autonomy, mastery, and purpose for your life. You get to pick and choose the activities that light you up and design a future you can get excited about without the risk or fear of how you’ll keep the lights on or feed your family.”
  • “A common pattern among those who achieve FI quickly is to choose a career that commands an above-average income. It’s popular to say you should “follow your passion.” Others might say, “find a job you love, and you’ll never work a day in your life.” Those make great bumper stickers, but they don’t typically work well in the real world. Maybe a better idea is to find a career that interests you and allows you to earn a solid income. Then learn to love it, or at least like it, while saving a high percentage of your income, allowing you to achieve FI quickly.”

best books to read on financial literacy

 

18. Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

“Not only is Mike one of the most innovative small business authors of our time, his Profit First system – simple to apply and impactful in its results – can be the difference between constantly walking the financial tightrope or being predictably profitable. And a predictably profitable business is not only less stressful and more gratifying, it allows you to focus on what really matters…serving your customers!”

– Bob Burg, Author of The Go-Giver

 

“Quit being a slave to your own business and start making some serious money. Follow Mike’s counter-intuitive advice and put profits first.”

– Verne Harnish, Author of Scaling Up

 

“Profit First is a brilliant smack-upside-the-head revelation for entrepreneurs. Most small businesses look pretty good on the outside, yet actually struggle to stay afloat. With fascinating stories and wit, Michalowicz shows how to remove your nose from the grindstone, climb out of the quicksand, and build a business that loves you back.”

– Sally Hogshead, Author of Fascinate

Summary: Written by Mike Michalowicz, Profit First flips the traditional entrepreneur’s formula of “Sales – Expenses = Profit” to “Sales – Profit = Expenses”. It’s kind of like the “pay yourself first” concept. By taking a profit first approach, businesses will have the healthy cash flow needed to thrive.

 

Why is this the best finance book:

“While my favorite personal finance may appear to be more of a business finance book at first, as an entrepreneur, I feel that it has changed the way I managed my business and personal finance. This is a must read for anyone who owns their own business and wants to improve their personal financial situation.

The road to entrepreneurship is always going to be hard. But do you really need to sacrifice your personal finances to make a successful business? Most people think so. This book changes that perception completely. By teaching you to correctly manage your finance and put your individual profit over that of the company, you’ll find yourself in a much better long term financial situation.

It really stems from how business owners view “profit”. Sure, you may be making thousands in sales every month, but is your business really successful if you don’t even have enough to pay yourself a decent wage at the end of the month or feel guilty doing so?

This book taught me to understand the true meaning of Profit and stop chasing vanity metrics. At the end of the day, you can brag about making millions all you want, but it’s the actual number that hits your bank account, ready to spend at the end of every month that matters!”

– Mark Webster, Co-founder of Authority Hacker

 

Quotes from the Book:

  • “All revenue is not the same. If you remove your worst, unprofitable clients and the now-unnecessary costs associated with them, you will see a jump in profitability and a reduction in stress, often within a few weeks. Equally important, you will have more time to pursue and clone your best clients.”
  • “Putting your nose to the grindstone is a really easy way to cover up an unhealthy business. We think that if we can just work harder, longer, better—if we can just hold out—something good will happen one day.”
  • “Working on your business is about building systems. Period. An entrepreneur is someone who finds the solutions to opportunities and problems and then builds systems to consistently deliver those solutions through other people or things.”
  • “At the end of the day, the start of a new day, and every second in between, cash is all that counts. It is the lifeblood of your business. Do you have it or not? If you don’t, you’re in trouble, and if you do, you can sustain.”
  • “When you base decisions on your best revenue month, you will run out of cash—quickly.”
  • “When less money is available to run your business, you will find ways to get the same or better results with less. By taking your profit first, you will be forced to think smarter and innovate more.”

best books to read to understand finance

 

19. The Richest Man in Babylon

“What can a book written in the 1920s tell modern investors about their finances? A whole lot if it’s George Clason’s delightful set of parables that explain the basics of money. This is a great gift for a graduate or anyone who seems baffled by the world of finance and a wonderful, refreshing read for even the most experienced investor.”

– Los Angeles Times

 

“I first read The Richest Man in Babylon many years ago. Its philosophy worked for me then, and it will work now for anyone with the good sense to stick to it. I think it ought to be read by every young man or woman with ambition to make something of life.”

– Chicago Daily News

 

“Recently, several readers asked me for recommendations on books that introduce teenagers—and even pre-teens—to investing… My favorite, and one that I always mention, is The Richest Man in Babylon. Though published nearly 90 years ago, the financial advice dispensed by author George S. Clason will always be relevant to a new generation of readers. Set in ancient Babylon, the characters learn simple lessons about money and investing throughout the collection of short stories.”

– Chicago Tribune

Summary: Based on parables in ancient Babylon, The Richest Man in Babylon was originally released as a collection of pamphlets in banks and insurance companies. Due to its popularity, it was put together as a book.

 

Why is this the best finance book:

“The Richest Man in Babylon” is the book I most frequently recommend for people interested in learning about personal finance. This book was written all the way back in 1926, but it remains evergreen and just as relevant almost a century later.

The book teaches in parables that are easy to understand and entertaining to read. It teaches essential lessons on personal finance, investing, homeownership, and most interestingly, the nature of luck.

The book is relatively short, making it an easy read that packs a punch. The lessons taught will genuinely stay with you for a lifetime. Best of all, you can find digital copies of “The Richest Man in Babylon” on Amazon for less than a dollar – now that’s smart personal finance.

(There is genuinely nothing bad I have to say about this book)”

– Tyler Ellis, Founder of Don’t Panic, Do This

 

Quotes from the Book:

  • “Advice is one thing that is freely given away, but watch that you only take what is worth having.”
  • “It costs nothing to ask wise advice from a good friend.”
  • “A part of all I earn is mine to keep.’ Say it in the morning when you first arise. Say it at noon. Say it at night. Say it each hour of every day. Say it to yourself until the words stand out like letters of fire across the sky.”
  • “Men of action are favored by the goddess of good luck.”
  • “When no buyers were near, he talked to me earnestly to impress upon me how valuable work would be to me in the future: ‘Some men hate it. They make it their enemy. Better to treat it like a friend, make thyself like it. Don’t mind because it is hard. If thou thinkest about what a good house thou build, then who cares if the beams are heavy and it is far from the well to carry the water for the plaster. Promise me, boy, if thou get a master, work for him as hard as thou canst. If he does not appreciate all thou do, never mind. Remember, work, well-done, does good to the man who does it. It makes him a better man.”

best books to read on financial literacy

 

20. Retire Before Mom and Dad

“Clear, accurate, insightful. This might be the best introduction to financial freedom I’ve ever found.

– J.D. Roth, Author and founder of GetRichSlowly

 

“Rob Berger didn’t just write an investment planning book – he wrote a life planning book. He interestingly poses, “We shouldn’t be asking how much we need to make to be happy; we should be asking how much we need to spend to be happy.” Truer words have never been spoken, and it gets better!”

– Rick Ferri, CEO of Ferri Investment Solutions and Core-4 Portfolios

 

“Retire Before Mom and Dad is a rare book that actually delivers. The steps are exceptionally clear and actionable. Rob cuts right to what moves the needle. It’s all here: the why and the how. The money and the life advice. You’ll have no excuses after reading this book. It’s your choice: Do you want to keep working for a living or because you love what you do? This isn’t about making all the money in the world, it’s about making enough to be free to live life on your own terms.”

– Grant Sabatier, Author of Financial Freedom and Creator of Millennial Money

Summary: Retire Before Mom and Dad is written by Forbes Deputy Editor Rob Berger. It breaks down the often complex financial jargon to achieve financial freedom into clear, everyday terms. It teaches you how to reduce your spending without changing your lifestyle, the simple math behind early retirement, the simple investment portfolio that works, among other topics.

 

Why is this the best finance book:

“The best personal finance book is Retire Before Mom and Dad by Rob Berger.

This book outlines the benefits of financial independence, and he provides the simple math behind retiring with a million-dollar portfolio. Rob Berger is an avid index investor, and the insight he provides leaves the reader prepared to formulate a smart investing strategy.

It is a quick read and is the best personal finance book for Gen-Z. It does not matter how much money you make, but rather what you do with your money. Retire Before Mom and Dad will inspire you to take ownership over your personal finances, and achieve financial freedom.”

– Drew Cheneler, Founder of Simple Money Lyfe

 

Quotes from the Book:

  • “The best thing money can buy is financial freedom.”
  • “The vast majority of your wealth won’t be the actual dollars you save. That will get the ball rolling. The actual wealth comes from the returns on those dollars as you invest them wisely. That is the key concept we have to understand.”
  • “If you save 20% of your income and earn an average rate of return, it should take you roughly 30 years to achieve financial independence.”
  • “It’s unbelievable the amount of savings people generate by the way they’re dealing with their cell phones, the way they’re getting their Internet, making changes to their cable package, making changes to their gym membership.”

best books money

 

21. Napkin Finance

“An entertaining introduction to saving and investing. This is the best personal finance primer I have read in years.”

– The New York Times

 

“With her recent book Napkin Finance, Tina Hay takes a decidedly more lively and lighthearted approach to this serious subject…Napkin Finance works as much because of its visuals as the words. The drawings make complicated subjects such as asset allocation, estate planning, and IPOs less imposing. There’s also an element rarely found in the finance genre: humor. And could we ever use some of that now.”

– Boston Globe

 

“Perfect for financial novices and students–the unique compact format and simple sketches make even the most complex financial concepts both easy to read and understand.”

– Library Journal

Summary: Napkin Finance provides simple and fun explanations and illustrations that will help even the most intimidated people learn complex personal finance topics. The author’s teaching style is based on her own experience when she attended Harvard Business School and struggled to keep up with her classmates who had finance backgrounds. She developed visuals like sketches and infographics to help her succeed in the classroom.

 

Why is this the best finance book:

“If you want to become financially literate while not getting bored or stuffed with technical jargon, then Tina Hay’s book is a must-read. It comes with visually appealing illustrations that are highly educational at the same time. After all, it wouldn’t be called “a visual guide for money” for nothing.

Hay’s approach to financial literacy takes a jab at the usual boring personal finance publications marketed in the industry today. I’ve never read anything less intimidating yet very informative when it comes to managing my money.”

– Michael Hammelburger, CEO at The Bottom Line Group

 

Quotes from the Book:

  • “Teach your kids about taxes by eating 38% of their french fries.”
  • “Call your broker if you want advice about your investments, and call your mom if you want unsolicited advice about your life.”

Here’s one of the book’s infographics:

Best Finance Books

books to teach financial literacy

 

22. The Great Deformation

“Stockman devotes some of the book to the past five years, joining multiple previous authors who have presented their nominations for the villains and heroes of the 2008 economic collapse. As a book critic and investigative reporter, I have absorbed a dozen of those previous books. Stockman’s is my favorite because of his original research, the context he presents (starting with the economic depression of the 1930s), his former insider status, and his apparent political non-partisanship during the endeavor.”

– USA Today

 

“His rhetoric in a recent New York Times op-ed piece ignites like Seal Team Six coming at you, flash grenades exploding, assault weapons blazing. No wonder he triggers wild angry, hatred and revenge. Yes, he’s a truth-teller. And truth hurts, flushing out his enemies. Why? They’re sucking trillions from Americans. So you hate him. Counterattack. Big mistake. Don’t dismiss David Stockman. He’s no Kim Jong-Un blow-hard.”

– Washington Post

 

“In The Great Deformation, David Stockman – former US congressman and budget director under Ronald Reagan – tells the story of the recent crisis, and takes direct aim at the conventional wisdom that credits government policy and Ben Bernanke with rescuing Americans from another Great Depression. In this he has made a seminal contribution. But he does much more than this. He offers a sweeping, revisionist account of US economic history from the New Deal to the present. He refutes widely held myths about the Reagan years and the demise of the Soviet Union. He covers the growth and expansion of the warfare state. He shows precisely how the Fed enriches the powerful and shelters them from free markets. He demonstrates the flimsiness of the present so-called recovery. Above all, he shows that attempts to blame our economic problems on “capitalism” are preposterous, and reveal a complete lack of understanding of how the economy has been deformed over the past several decades…Thanks to The Great Deformation, not a shred of the regime’s propaganda is left standing. This is truly the book we have been waiting for, and we owe David Stockman a great debt.”

– MarketWatch

Summary: The Great Deformation is a 700+ page book that takes a critical look at Washington’s response to the multitude of historical financial crises.

 

Why is this the best finance book:

“David Stockman was President Reagan’s Budget Director. Don’t worry, it’s not a political book.. He points out the mistakes made by both parties and mentions Presidents specifically. Based on his role he has extensive knowledge regarding US fiscal and monetary policies.

Let’s be honest, most finance books aren’t exactly thrillers but this is one I couldn’t put down. One of the main takeaways is how the finance industry, including my own site, are the beneficiaries of The Great Deformation. Working in finance became far more lucrative after the 1970s and he explains why. However, the book does not directly address how to get a high-paying job in the finance industry.

This book won’t qualify as “personal finance” for everyone as it’s target audience are people with advanced understanding of accounting, finance, and monetary policy. However, there are parts of the book most people will find very entertaining and interesting such as his historical myth-busting across various eras from World War II all the way through the 1990s.

Regardless of the portions people may disagree with or not understand this book will entertain and make them think.”

– Brian DeChesare, CEO and Founder of Mergers & Inquisitions

 

Quotes from the Book:

  • “The great irony, then, is that the nation’s most famous modern conservative economist became the father of Big Government, chronic deficits, and national fiscal bankruptcy. It was Friedman who first urged the removal of the Bretton Woods gold standard restraints on central bank money printing, and then added insult to injury by giving conservative sanction to perpetual open market purchases of government debt by the Fed. Friedman’s monetarism thereby institutionalized a régime which allowed politicians to chronically spend without taxing.”
  • “There can be little doubt, therefore, that George W. Bush, and his father before him, carried out their imperial adventures in the lands ringing the Persian Gulf because they could. An accident of history had bestowed upon them a massive conventional war-fighting machine, so they went to war without having to prove the case or raise an army by taxing the people and getting a declaration of Congress.”
  • “Literally billions of dollars were paid in commissions, bonuses, and perks to a few thousand salesmen who carried the title of “loan officer”.”

finance learning books

 

23. Financial Freedom

Financial Freedom is about a lot more than money, it’s about living a richer life.”
– David Bach, Author of The Automatic Millionaire & The Latte Factor

 

“Grant Sabatier is a bold, new voice for this country’s next generation — a generation that chafes at mounting debt, rejects traditional modes of work, and longs for financial freedom. In this comprehensive money manual, Sabatier blends deep wisdom with proven action steps. He shows how to mold your mindset so that you can make the most of your dollars and your hours. Best of all, he provides a blueprint so that you can build the rich life you’ve always wished for.”
– J.D. Roth, Creator of Get Rich Slowly and author of Your Money

 

Financial Freedom changed my life. Reading it showed me a new way of looking at money and work that’s opened my eyes to how life ought to be lived. Grant’s book will not only guide you to financial freedom, it’ll teach you to stop being limited by conventions and what you think you can and cannot achieve.” 
 – U.S. News & World Report

Summary: Financial Freedom is a guide on how to make money in less time including how to create profitable side hustles, negotiate more from your employer, travel the world for little money.

 

Why is this the best finance book:

“Grant provides actionable tips to achieve your level of financial freedom faster that you would have thought possible. He does so in a relatable way, regardless of where you are in your personal finance journey.

His advice rivals many others’ in that you can still spend money on your daily latte if that is ultimately what makes you happy. The bigger ticket wealth builders such as making more, or reducing heavy expenses like your home, car and food are where you can make the biggest impact.

Combining extra earnings and reduced spending with strategic investing, and you’ve successfully turned yourself into a wealth-building machine almost overnight. His tips have made me accelerate my retirement goal age by 10 years.”

– Stephanie Schill, Founder of Intentional Saver

 

Quote from the Book:

  • “Another reason I don’t like budgets is because they reinforce the idea of scarcity. They are designed to make you track every penny you spend to the point that you end up feeling guilty if you overspend or spend money on something you don’t absolutely need.”
  • “The key to fast-tracking financial freedom is to make and invest as much money as early and frequently as you can.”
  • “Whenever we spend money instead of investing it, we are actually taking from ourselves – we are taking both the time we spent to make the money and the future freedom it can buy.”

good financial book

 

24. The Millionaire Fastlane

Summary: Targeted to entrepreneurs, The Millionaire Fastlane is about how while most people walk on the sidewalk (living paycheck to paycheck), or drive in the slow lane (working the same safe job for decades), the key to wealth is cruising in the fast lane (setting up a business that earns passive income).

 

Why is this the best finance book:

“I started a bodybuilding authority site only because of this personal finance book I read. And now I praise it on my entrepreneurship podcast and to anybody looking to start a business.

Some consider it controversial, as it typically criticizes many ‘standard’ ways of saving money.

If you’re really serious about becoming a millionaire, you NEED to read the millionaire fastlane by M.J DeMarco.

You know this book is the real deal because he isn’t promising you a thing. He isn’t selling anything, he doesn’t promise any “get-rich-quick” schemes either.

He drills in your head the idea of producerism and tells you that many business ideas just don’t work. A small business? You’ll never get rich because you’ll always be working. He teaches you that you need to have a business working while you sleep, and teaches you how to think big and actually grow big.

He is down to earth, and doesn’t sell anything. He gives you every bit of advice on how to become a millionaire without any stupid online courses or other products. It’s up to you to use that advice to become rich or not. His book has EVERYTHING you need.”

– Tommy Vekhayn, Owner of Vekhayn

 

Quotes from the Book:

  • “There’s a profound difference between interest and commitment. Interest reads a book; commitment applies the book 50 times.”
  • “Instead of digging for gold, sell shovels. Instead of taking a class, offer a class. Instead of borrowing money, lend it. Instead of taking a job, hire for jobs. Instead of taking a mortgage, hold a mortgage. Break free from consumption, switch sides, and reorient to the world as producer.”
  • “Stop thinking about business in terms of your selfish desires, whether it’s money, dreams or “do what you love.” Instead, chase needs, problems, pain points, service deficiencies, and emotions.”
  • “The brick walls are there for a reason. The brick walls are not there to keep us out; the brick walls are there to give us a chance to show how badly we want something. The brick walls are there to stop the people who don’t want it badly enough. They are there to stop the other people!”
  • “I awoke to the epiphany that I was the driver of my life and my problems were the consequences of my choices.”
  • “My doctor’s preferred method of attack was prescription drugs. I refused because I wanted to fix problems, not mask symptoms.”

good financial literacy books

 

25. The Charles Schwab Guide to Finances After Fifty: Answers to Your Most Important Money Questions

“Overwhelming appealing…[This book] treats the reader as a grown-up…There is little sugarcoating and few wasted words…Ms. Schwab-Pomerantz gives realistic advice throughout…An excellent personal finance book…The book is well worth your time, whether you are over 50 or just see the big 5-0 looming.”

– New York Times

 

“The beauty of this book is how it’s written and organized. The Q&A format makes it easy to skip around….The focus is on the 50-plus crowd, but there’s something for everyone.”

– The Washington Post

 

“Carrie Schwab-Pomerantz’s new book offers comprehensive financial advice for Americans over fifty. Everything from contributing to employer retirement plans to strategies for claiming Social Security is covered with advice that is easy to understand and absolutely trustworthy. Reading this book is time well spent for people in all circumstances.”

– John Shoven, Director of the Stanford Institute for Economic Policy Research

Summary: The Charles Schwab Guide to Finances After Fifty is aimed at answering all of the questions plaguing people planning for or close to retirement. This includes topics to grow, but more importantly protect your nest egg. Some of the questions addressed include “Should I be debt-free before I retire?” and “Does a reverse mortgage make sense?”

 

Why is this the best finance book:

“My favorite finance book, one I recommend for many of my clients, is Carrie Schwab-Pomerantz’ “The Charles Schwab Guide to Finances After Fifty: Answers to Your Most Important Money Questions.”

First published in 2014, it is still eminently relevant. The book is organized into a wide range of questions around all the essential financial planning topics. It covers estate planning (what to do with a blended family, for example), widowhood, maximizing Social Security, saving for college and retirement at the same time, tax planning, insurance, and of course, all types of investment questions. I find it super readable without dumbing down important topics.

Schwab-Pomerantz’ book can be read cover to cover, or you can read it in chunks as sections of it apply to you. And you don’t have to be over 50 to get a lot out of it. If you buy just one personal finance book, this is a great one to own.”

– Susan Olson, Financial Advisor & Partner at Abacus Wealth Partners

 

Excerpt from the Book:

  • “Q: I just retired. What’s the smartest way to draw income from my portfolio?
    A: With so many account types—ranging from 401(k)s to IRAs, and Roth IRAs to brokerage accounts, each with different rules and regulations—things can get confusing. Not to mention the fact that each account may also hold a variety of investments, from individual stocks and bonds to mutual funds and ETFs. So, yes – it can be overwhelming to know what to take from where. Thankfully, my colleagues at the Schwab Center for Financial Research have created a priority system. Their goal is to help you make decisions that minimize your taxes while also protecting your portfolio for the future.”

books to read on finance

 

26. Rich Dad’s Cashflow Quadrant

Summary: Rich Dad’s Cashflow Quadrant is the second book in his Rich Dad series. It focuses on the below 4 types of income streams you can get:

  1. Employee
  2. Self-employed
  3. Business owner
  4. Investor

The book shows you how to move from “1” and “2” to “3” and “4” where you work less and enjoy more tax breaks.

 

Why is this the best finance book:

“I have read two other books from Robert Kiyosaki including the epic “Rich Dad Poor Dad“, but I liked this one more than his first book.

This book is not entirely about personal finance, but it is a must for every individual who wants to gain financial freedom. As per the author, our society does not give importance to teaching finance. Neither schools, nor parents spend time inculcating good financial habits in kids. Finance is part of our everyday life and it should be taught as a regular subject in schools.

The book is very easy to read and understand. It provides some tips to make changes in our day to day life to become rich. Overall it is a good book and one of my favorites, but I didn’t like the fact that the author somewhat devalues the importance of higher education.”

– Neeraj Arya, Operations Manager of PMExperto

 

Quotes from the Book:

  • “Success is a poor teacher.”
  • “What you think about me is not my business. The important thing is what I think about myself…”
  • “You will never know true freedom until you achieve financial freedom.”
  • “Thinking is the hardest work there is. That is why so few people engage in it.”
  • “If you want to be a leader of people, then you need to be a master of words.”
  • “Many people will not head down the street until all the lights are green. That is why they don’t go anywhere.”

best books for finance

 

27. Wealthing Like Rabbits

I wish I’d thought of teaching compounding with rabbits! Smart, funny, and totally relatable for young people who want to figure out money.

– Gail Vaz-Oxlade, Financial author and TV host of Til Debt Do Us Part

 

Who would’ve thought the sexual proclivity of rabbits would serve as a good backdrop for learning the basics about personal finance? Rob Brown did. Wealthing Like Rabbits ingeniously uses pop culture as a medium for making money fun. Almost as much fun as the rabbits had.

– Preet Banerjee, Bottom Line panelist on the CBC’s The National with Peter Mansbridge

 

Most personal finance writing is either simplistic or boring. Wealthing Like Rabbits is neither: Brown delivers practical, commonsense advice on saving, spending and home ownership and manages to make it entertaining. If you’re just getting started on your financial journey, make this book your guide.

– Dan Bortolotti, Author of The MoneySense Guide

Summary: Written by Robert R. Brown, Wealthing Like Rabbits is an entertaining, funny read that breaks down basic financial concepts so it’s easy to understand. It’s targeted to Canadians.

 

Why is this the best finance book:

“Wealthing Like Rabbits is one of my favourite personal finance books because it was genuinely enjoyable to read.

Most personal finance can be dry (let’s be honest), but Robert Brown does a great job of intertwining humour, intrigue, and valuable information. Overall, the book doesn’t take itself too seriously, so it’s a great entry into the personal finance world – maybe as a gift for a recent grad?

He has a particularly reassuring mindset that cuts through all the complicated and overwhelming noise. After all, at the base of it all, as long as you spend within your means – you’ll likely be fine. There are a lot of people who need to hear that.

That being said, the information provided is fairly basic, so don’t expect to revolutionize your mindset if you’re already knee-deep in personal finance.”

– Stephen Weyman, Co-Founder of How To Save Money

 

Quotes from the Book:

  • “I have been told by people whose opinion I respect very much that no serious financial planning book would ever include sex, zombies, or a reference to Captain Picard.”
  • “Asking your bank how much you’re allowed to spend is a bit like asking Ronald McDonald if you are allowed to supersize your Big Mac and fries.”
  • “Why does several hundred thousand dollars not matter when we’re discussing houses but we’ll coupon cut for 50 cents?”

best books to understand finance

28. Barefoot Investor

“Australians can’t get enough of the Barefoot Investor.”

– New York Times

 

“My wife read The Barefoot Investor faster than Mum read Fifty Shades of Grey and it transformed the way we manage our finances!”

– Peter Helliar, Presenter on The Project

 

“The biggest finance cult in Australia.”

– Mamamia

Summary: Written by Scott Pape, Barefoot Investor is about how to create a simple financial plan that works with your lifestyle. This book is not about strict budgeting. It’s targeted to Australians.

 

Why is this the best finance book:

“The whole book was written in a way that helps you discuss finances with your partner. Each chapter had a date that you do with your partner which has an overall outcome of saving and growing your money.

I really appreciated that each chapter in this book had a solid actional step. If everyone followed the steps they would have more wealth. It is as simple as that.

Throughout the book there are case studies and lots of good humour. This book is more suited to the Australian market in terms of money systems and humour.”

– Kassandra Marsh, Founder of Lakazdi

 

Quotes from the Book:

  • “You can continue living in the past, beating yourself up about the money mistakes you made when you were younger, telling yourself you’ve left it too late…or you can rise up and make yourself proud.”
  • “​The average wage in Australia is $78 832, according to the ABS. If you plug that into globalrichlist.com it shows that you’re in the top 0.28 per cent of the richest people in the world by income. Yes, even on the average Aussie wage you’re richer than 99.72 per cent of the global population.”
  • “Baumeister says that people who succeed don’t have more willpower than you: they just develop better daily routines and habits, which after a while become automatic and require less thought — less conscious energy.”

best books to read for finance

 

Final Thoughts on the Best Financial Planning Books

If you’re a personal finance novice, here are the best financial books for beginners. In this list, I’ve included the pros and cons to each book so you can select the one that best fits your situation.

If you’re interested in solely focusing on making more money, here are the best books on how to make money.

If you’re interested in more financial planning books, here are the

To save money, you can listen to many of these books through Audible’s 30 day FREE trial, which gets you 2 FREE books!

Audible, an Amazon company, has the world’s largest selection of digital audio books. Even if you cancel within the free trial period, the books are yours to keep!

 

Recap of the Best Financial Books

  1. Rich Dad Poor Dad
  2. I will teach you to be rich
  3. Total Money Makeover
  4. MONEY, Master the Game
  5. Your Money or Your Life
  6. Happy Money: The Science of Happier Spending
  7. The Millionaire Next Door
  8. Random Walk Down Wall Street
  9. Why Didn’t They Teach Me This in School?
  10. You Are A Badass at Making Money
  11. Broke Millennial
  12. Unshakeable
  13. The Simple Path to Wealth
  14. The Automatic Millionaire
  15. All Your Worth: The Ultimate Lifetime Money Plan
  16. Complete Guide To Money
  17. Choose FI
  18. Profit First
  19. The Richest Man in Babylon
  20. Retire Before Mom and Dad
  21. Napkin Finance
  22. The Great Deformation
  23. Financial Freedom
  24. The Millionaire Fastlane
  25. The Charles Schwab Guide to Finances After Fifty
  26. Rich Dad’s Cashflow Quadrant
  27. Wealthing Like Rabbits
  28. Barefoot Investor

 

Related Financial Literacy Book Articles:

 

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