As you start to build your foundation in personal finance, taking in different viewpoints is a good idea. Although the building blocks of a solid financial foundation are very similar throughout the spectrum of opinions, it can be helpful to learn more about the different approaches to getting your finances on track through the best personal finance books.
That’s where reading one of the best books on finance can come in handy. You can learn more about the details of moving your personal finances forward and take action.
Plus, reading a book can be a nice break from our seemingly constant screentime. If you want to read one of the best money books out there, then check out this list of favorites.
Best Personal Finance Books
When you are learning about personal finance, there are hundreds of books available. However, not all of these books are created equally. With that, we’ve pulled out the top personal finance books available. In each book, you’ll find a unique perspective and solid action steps that can help you make progress with your money.
Your Money or Your Life
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin offers a stepwise process to getting your relationship with money back on track. The book has advice on how to get out of debt, declutter your financial life, invest responsibly, and save money through mindfulness about what matters to you. The combination of practical advice and thoughtful commentary lead to a truly revolutionary book. You may never look at money in the same way after completing the steps in this book.
The book is designed to meet you where you are on your financial journey. Whether you are a novice or a seasoned investor, you’ll definitely find this book is worth the read.
Work Optional: Retire Early the Non-Penny-Pinching Way by Tanja Hester is packed with actionable steps for anyone seeking financial independence. Beyond the dollars and cents of making an early retirement from a demanding career a reality, she walks you through the mindset work that you need to do before pulling the trigger on your early retirement dreams.
In this book, you’ll find out how to map out a financial independence plan that matches your goals. But you’ll likely want to have the basics of your personal finances down before tackling this book.
I Will Teach You to Be Rich
I Will Teach You To Be Rich: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works by Ramit Sethi offers a straightforward approach to getting your finances on the right track. Sethi writes with a dry humor that will keep you entertained while sorting out your money habits. Plus, there are action steps at the end of each chapter that will help you pull your finances together. If you follow his timeline, you’ll have a solid personal finance system set up in just a few weeks. Once you set up the systems that Sethi advocates for, you’ll enjoy a somewhat automated financial experience in the future. With fewer money chores to worry about, you can focus on what really matters to you.
This book is designed for anyone with a beginner or intermediate level of personal finance knowledge. If you already have systems set up to handle your finances, then you may not get as much out of this book.
Rich Dad Poor Dad
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki is one of the top personal finance books of all time. The book is packed with information and graphics that break down the core personal finance concepts. With a solid understanding of these ideas, you’ll be prepared to move your finances in the right direction.
As a beginner, you’ll stand to gain the most from this book.
The Total Money Makeover
The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey offers a solid approach to tackling your finances. If you are in an overwhelming amount of debt, then Ramsey offers a proven solution that could work for your situation. Although there is no easy way to get out of debt, Ramsey maps out a plan to help you stay motivated. If you are completely new to personal finance, this book is a great read!
Think and Grow Rich
Think and Grow Rich by Napoleon Hill is a classic book that was written in 1937. You’ll find stories about millionaires of his generation such as Henry Ford and Thomas Edison. Although the examples may seem locked in the history books, personal finance concepts remain the same. The simple philosophy outlined in this book could be a turning point in your journey. This book is a helpful read at any stage on your journey.
Best Personal Finance Books that help you approach personal finance differently
Now that we’ve taken a closer look at the best personal finance books, I’d like to mention a few more books. Although these aren’t strictly personal finance books, they could change the way you approach your personal finance journey.
The Millionaire Next Door
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas Stanley offers a unique look into the lives of millionaires. As you read the book, you’ll discover that the vast majority of American millionaires live low key lives. Although the facts might be surprising, it could change your approach to building wealth. Instead of pushing for the traditional markers of success, you might find happiness in the low key approach portrayed in this book.
You can gain a new perspective when you read this book at any point in your learning journey.
Four Hour Work Week
The Four Hour Work Week: Espace 9-5, Live Anywhere, and Join the New Rich by Tim Ferris flips the traditional work model upside down. Instead of working 40+ hours each week, what if you could work for just a few hours and enjoy the same monetary compensation? You’ll explore the concepts of outsourcing, remote work, and mini-retirements. If you don’t think those ideas are a real possibility, there are several case studies that show how people from all walks of life are putting these ideas into practice.
You’ll get a lot out of this read from any point on your personal finance journey. But if you are further along, then you’ll likely be able to act on the ideas in this book more quickly.
The Simple Path to Wealth
The Simple Path to Wealth: Your Road Map To Financial Independence and a Rich, Free Life by J.L. Collins offers a deep dive into managing your investments. It kicks off with the idea of having “F-you” money on hand. Then it dives into how investing responsibly can make that idea a reality.
The bulk of the book explores the simple approach to investing. Instead of making it a complicated read filled with jargon, J.L. Collins breaks down the topic to its core components. If you already have a handle on basic financial topics, then you won’t have too much trouble picking up on this more advanced concept. After reading through the book, you’ll have more confidence when it comes to handling your own investments.
If you already have the basics of budgeting and mindful spending under control, then this book is a good read. It offers the opportunity to learn more about investing and how to take your personal finance strategy to the next level.
What is the best personal finance book?
The answer will depend on your unique situation. You should consider where you are starting from and where you want to end your financial journey. If you crave more freedom and flexibility in your life, you will lean toward financial independence books such as Work Optional or The Simple Path to Wealth. Struggling with debt is no fun, and if this applies to you, then a more traditional personal finance book, like The Total Money Makeover, could be the best place to start. If you struggle with the emotional side of managing your money, then a book like Your Money or Your Life could help you see things in a new light.
Beyond books, countless personal finance blogs could help you solve problems without tackling an entire book. Check out the top personal finance blogs today!