In order to be truly successful, learning can’t be something you only do in school. Billionaire Tony Robbins is a great example of this as he attributes a lot of his success to his love of books and learning. If you don’t know every single thing about personal finance, then check out the best personal finance books to up your finance game.
He claims that you can learn the lessons someone else learned over their entire life in just a few hours by reading a book
In Tony’s words, “Compress Decades into days” to learn faster. That’s why we compiled this list of the best financial books for beginners. With this list, you can compress a century of personal finance experience into a year of reading.
Here’s the list
- The Broke Millennial by Erin Lowry
- The Total Money Makeover by Dave Ramsey
- Your money or your life by Vicki Robin
- Set for Life by Scott Trench
- Rich Dad Poor Dad by Robert Kiyosaki
- Why Didn’t They Teach Me This in School
- All the money in the world by Laura Vanderkam
- The Recovering Spender by Lauren Greutman
- The One-Page Financial Plan by Carl Richards
- The Millionaire Next Door by Thomas Stanley and William D. Danko
The Broke Millennial by Erin Lowry
Erin’s wants to help you get your financial life together (#GYFLT). The Broke Millennial brand began just as a passion project blog, and it turned into an in-depth platform and book. This book is filled with personal stories and simple advice that you can apply right away.
The Total Money Makeover by Dave Ramsey
If you struggle with debt, then this book can help. Dave Ramsey has been advising people on personal finance for decades. He has written multiple books, hosts a personal finance radio show, and is accepted as a trusted voice on money. You can’t go wrong with this book.
Your Money or Your Life by Vicki Robin
The premise of the book comes from a thought experiment. If a mugger attacked you and threatened, “I’ll take your money or your life!” You would hand over your wallet, right? It would be crazy to sacrifice your life for money. But don’t we do that all the time?
This book teaches you how to have a relationship with money that supports your lifestyle, not constricts it.
Set for Life by Scott Trench
This book walks through Scott Trench’s plan for going from a net worth of zero to financial freedom. This may seem like a “get rich quick” book at first, but it’s a bit different. It’s more of an “If you follow this exact process and put in the time and effort early, you’ll be successful” book.
You may not choose to stick to his exact formula, but it’ll still give you plenty of things you can apply to your own situation.
Rich Dad Poor Dad by Robert Kiyosaki
In this book, Robert Kiyosaki lays out the differences in perspective between “rich thinking” and “poor thinking.”
It teaches readers what rich dads teach their children. How to manage debt, the true definitions of assets and liabilities, and challenge the myth that you need a high income to become rich.
Why Didn’t They Teach Me This in School? By Cary Siegel
A high-school or university degree doesn’t mean you’re financially savvy. This book is a simple read with 8 important lessons that come from Cary Siegel’s own experiences.
Personal finances can be pretty complicated and technical, but if you’re just starting your personal finance education, this book would be a great place to start.
All the Money in the World by Laura Vanderkam
It’s a fact of life for most people that there’s never enough money, or is there? Laura Vanderkam in “All the Money in the World” challenges the idea that having more money will make you happier, and she argues that the key to financial happiness is not making more, it’s changing your perspective.
The Recovering Spender by Lauren Greutman
Lauren Greutman was the definition of a shopaholic. She loved spending money and felt the need to keep up with the Joneses. These habits left her $40,000 in debt and spending $1000 more than she earned every month.
This financial ruin was the kick she needed to get her finances in order. Through trial, error, and a lot of work her family became debt-free in 2 years. This book teaches readers how to master their finances and do it in a happy fulfilling way.
The One-Page Financial Plan by Carl Richards
Financial planning can be complicated, but the reasons behind how you plan your finances don’t have to be. The One-Page Financial Plan helps its readers prioritize what is really important to them and plan finances around those things.
The motivations behind financial planning have little to do with the economy or stock market and everything to do with what’s important to you. This book gives you the strategies you need to make those things happen.
The Millionaire Next Door by Thomas Stanley and William D. Danko
The Millionaire Next Door challenges what we assume wealthy people look like, act like, and spend like. Most don’t drive fancy new cars and own big expensive houses. They look just like you and me because they’d rather be wealthy than look wealthy.
The Millionaire Next Door also covers the definition of wealth. Is wealth simply earning a lot of money? Stanley and Danko argue that wealth is the ability to stop working for 10 years based on your age and income level.
If you’re battling debt, learning to invest, or just want more control over your finances, there are resources. Any of these books will be an excellent introduction to the world of personal finance in it’s given area of expertise.
Or, feel free to keep looking through our blog for more personal finance tips.
What other awesome personal finance books have you read?