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Who doesn’t love a good book? I especially like to read things that are going to motivate me in some way. Sometimes that is a classic. Sometimes it is a pop psychology book (Malcolm Gladwell, anyone??). And sometimes it is a personal finance book to help whip my mental state and finances into shape.
So….I decided to share with you 10 finance books that can help you get financially fit this year. I tried to include an assortment of the “classic” personal finance books from the likes of Dave Ramsey and Suze Orman, along with some other not so well known names.
10 personal finance books for your reading list:
1. Total Money Makeover by Dave Ramsey – I really don’t know still how I feel about Dave Ramsey as a person. He is brash and I’m not sure I agree with all of his political views. BUT, I think he does an incredible job of breaking down the overwhelming topic of finances into “baby steps” and making it approachable for everyone. There is a lot to like in this book!
2. The Money Book for the Young, Fabulous & Broke by Suze Orman – I have an embarrassing confession to make. My Friday nights after college used to be spent not out at bars or hanging with friends, but snuggling up with my TV watching Suze Orman give financial advice. I know a lot of people think she is obnoxious or don’t agree with her investing strategies, etc., but there is something so relatable for me with her. This book gets real with why you are broke and what to do about it. Get ready! Suze doesn’t hold back!
3. Women & Money: Owning the Power to Control Your Destiny by Suze Orman – I know, another Suze Orman book. But they are different and both great! Maybe part of the reason that I love Suze Orman is that she is a strong woman talking about finances. There aren’t many women in the field and even fewer that we can look up to. This book dives a bit into the pyschology of money and power for women.
4. The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley & William D. Danko – I wasn’t sure what to expect with this book. While it definitely reads like academics wrote it (aka a lot of statistics and facts thrown at you), the case studies and examples are fascinating. And they studied a HUGE sample of millionaires. This one is worth the read if even just to find out the seven key things that millionaires have in common.
5. Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner – This book good for people just starting out on their own with their finances. It talks about taxes, reducing debt, building credit scores, and more. If you don’t have a great attention span, it also has summaries that get right to the point.
6. The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich by David Bach – This book is all about paying yourself first. What I really like about this one is that it shares the story of a couple who never made over $55,000 a year but retired millionaires because of the way they saved. It also lays out the “how to” of paying yourself first in a practical and easy-to-follow way.
7. How to Retire with Enough Money: And How to Know What Enough Is by Teresa Ghilarducci – This book focuses on retirement and talks about mistakes we make with our retirement savings (or lack thereof…), but it also talks about spending and how and when to fire your financial advisor and take control of your own retirement investments.
8. Mindful Money: Simple Practices for Reaching Your Financial Goals and Increasing Your Happiness Dividend by Jonathan K. DeYoe – This book takes a different approach to personal finance. The author is a financial planner…and a Buddhist. I know, that combination is fascinating, isn’t it? The author looks at the nature of money, our relationship with it, and how we can be conscientious people and grow wealth at the same time. Very interesting philosophy and a different kind of book!
9. MONEY Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins – Ok, another confession. I wanted to dislike Tony Robbins because, you know, he’s a “guru.” But I can’t. His enthusiasm is contagious and his advice is practical. Now, his enthusiasm doesn’t always come across in this book but he uses a lot of case studies and examples to break down his points.
10. Personal Finance for Dummies by Eric Tyson – Do you want a basic overview of budgeting, investing, life insurance, and saving money? The “for dummies” collection is great for basic knowledge and this book is a fine place to start.
What other personal finance books do you love? Leave them in the comments below!
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