Money Management Books You Need To Read
Personal finance books can help you hone your money management skills so you can get better at spending, saving, and growing your money. Whether you want to learn how to invest your money, save for retirement, or establish an emergency fund, these money management books will help you create a bright financial future for yourself and your family.
What Is Personal Finance?
Personal finance is a broad term that encompasses a variety of money management topics, including budgeting, banking, investments, retirement planning, and more. In a nutshell, though, personal finance is all about meeting your financial goals. The process can vary depending on your income, expenses, lifestyle, and goals.
Why Is It Important?
No matter where you stand financially, it’s beneficial to have a firm understanding of personal finance concepts so you can make wise decisions with your money. Making smart moves with your money doesn’t always mean following general advice and rules. Instead, it involves making decisions that are right for you, your family, and your individual circ*mstances. And having the know-how to make smart decisions with your money makes all the difference.
How Can You Improve Your Money Management Skills?
First, if you don’t know where to start, read one of the following finance books to get a better idea of what steps you should be taking to get your finances in order. Then consider using an app like Gerald to automate the process and make things easier. Gerald can help you establish a budget, pay your bills on time, save for your goals, and much, much more.
Once you feel like you’ve made significant progress managing your money and you’re ready to move on to things like investing, it’s a good idea to meet with a personal financial advisor. They can provide individualized recommendations based on your goals, budget, and overall financial health.
15 Finance Books You Should Read
When you’re ready to start digging in, check out these top-rated finance books that will help you get organized, clean up your finances, and start building your wealth.
1. The Simple Path to Wealth by JL Collins
If you want to invest or retire early, this is the book for you. “The Simple Path to Wealth” started out as bits of advice that the author wrote to his daughter in letters. From there, it grew into a book full of actionable wisdom that will help you gain a solid understanding of investing principles, debt management, specific investment strategies, avoiding financial schemes, and more. With a straightforward and easy-to-understand tone, this book is great for beginning investors, but it also doesn’t shy away from explaining complex topics that other personal finance books geared toward beginners might avoid.
2. Why Didn’t They Teach Me This in School? by Cary Siegel
As you probably already know, most of us never learned very much about personal finance in school despite it being an essential tool for lifelong success. If you want to fill that gap and learn more about how to manage your finances, “Why Didn’t They Teach Me This in School?” is an excellent resource. The author is a retired business executive who breaks down important financial concepts into eight money lessons and 99 basic principles that every high schooler and college student should know. Perfect for the young adult searching for guidance on personal finance, this book is a must-read.
3. Broke Millennial by Erin Lowry
“Broke Millennial” is a book that’s written for 20- and 30-somethings who want to get their finances under control. By thoroughly covering the biggest money challenges facing millennials today, this book addresses important topics like understanding your relationship with money, responsibly managing student loans, getting real with a partner about your financial situation, and other tricky money matters that millennials frequently deal with. Oh, and don’t worry, this book is the opposite of a total drag. It’s actually full of funny true stories and refreshing advice that everyone can understand and put into action in their own lives.
4. Rich Dad Poor Dad by Robert Kiyosaki
This is one of the most popular personal finance books around and it has stood the test of time, spanning generations of readers who adore it. In “Rich Dad Poor Dad,” the author shares important life lessons he learned from his father and his friend’s father. (His friend’s father was the wealthy one.) Aside from sharing valuable lessons on general money management, investing, and the economy, this personal finance book also details important revelations that can help you make financial progress in your own life. For example, it highlights the fact that you don’t have to make a ton of money to get rich; an encouraging lesson that can help most of us get motivated to do the necessary work required to grow our wealth.
5. Your Money or Your Life by Vicki Robin and Joe Dominguez
Ever wonder how you can become financially independent? “Your Money or Your Life” has the answer and provides a clear plan to help you achieve financial independence. Not only will this book help you change your mindset about finances, but it will also help you establish a healthy relationship with money. It provides specific investment tips you can apply to your life, whether you want to retire early or just grow your wealth.
6. The Total Money Makeover by Dave Ramsey
Debt is one area of money management that’s a common roadblock for lots of people seeking to improve their financial health. If you’re struggling to manage your debt, “The Total Money Makeover” is one book you’ll want to have in your financial tool belt. This book, written by popular financial guru Dave Ramsey, can help you get out of debt and improve your financial health by avoiding common financial mistakes people make, such as overusing credit or rent-to-own situations. Within its pages, you’ll also find sound advice on the “snowball method” for debt payoff, how to start an emergency fund, and tips for long-term savings goals like retirement and college tuition.
7. The Intelligent Investor by Benjamin Graham
Let’s say you’ve already started investing your money, but you’re ready to up your game and take things to the next level. “The Intelligent Investor” by Benjamin Graham is often referred to as “the stock market bible” due to its continued relevance and practicality for intermediate and advanced investors. In this book, Graham introduces his philosophy of value investing, which involves purchasing quality stocks at a good price and holding on to them for the long term. Although it was originally published in 1949, this book has since been updated for modern investors, and it’s known to be a trustworthy resource.
8. Clever Girl Finance by Bola Sokunbi
“Clever Girl Finance” is ideal for anyone who is just starting out on their financial wellness journey or who wants a refresher course on the basics. The best part of this book is that you don’t need any prior knowledge of personal finance before you dive right in. It covers the basics, like budgeting before moving, to topics like using credit, building wealth, investing, and more. This easy-to-read guide is ideal for millennials and Gen Zers who are just starting to get their finances under control or who want specific strategies for improving their process.
9. Raising Financially Fit Kids by Joline Godfrey
Whether you’re a parent of young children, teenagers, 20-somethings, or all three, “Raising Financially Fit Kids” is an excellent source of information for all parents. This book can help you teach your kids positive money habits and explain the complexities of financial well-being as they get older and start taking on more responsibilities. It also covers topics like what it means to establish financial sustainability and the importance of giving wisely. Whether you’re a parent, grandparent, teacher, or mentor, this book offers ten core money skills and age-appropriate activities to help kids become financially fluent.
10. The Automatic Millionaire by David Bach
In the book “The Automatic Millionaire,” financial writer David Bach speaks to the idea that automating your finances is a simple strategy that can help you grow wealth with minimal effort. He’ll show you how you can automate your savings, debt payoff plan, and more to accelerate your progress and reach your goals faster. And the best part? He provides an actionable strategy that you can put into motion within a few hours to automate your finances and start reaping the benefits right away.
11. Financial Freedom by Grant Sabatier
Are you miserable going to work every day? Do you dream of having more time to do what you love? If you answered yes to either of these questions, keep reading! In Grant Sabatier’s book “Financial Freedom,” he offers tried and tested strategies to help you become financially free. Whether that means quitting the job you hate, having the freedom to retire early, or being able to travel the world while you do what you love, this book provides an easy-to-read and understand step-by-step process geared toward millennials. With practical and actionable advice, you might just find that this resource is what you needed to start creating financial freedom in your own life.
12. The Psychology of Money by Morgan Housel
Offering an interesting take on personal finance, “The Psychology of Money” by Morgan Housel offers a unique perspective on the psychology behind spending, saving, and earning money and how your preconceived notions can affect your financial decision-making. If you’re looking for very specific investment strategies or wealth-building tools, you might want to skip this one. Instead, this book offers plenty of tips and insight on combating the biases that directly affect your financial wellness.
13. The Financial Diet by Chelsea fa*gan and Lauren Ver Hage
Another excellent book for young adults and beginners, “The Financial Diet” by Chelsea fa*gan and Lauren Ver Hage is a solid resource for anyone who wants to get better at managing their money. Covering everything from budgeting and debt repayment to saving and investing, the authors of this book provide an easy-to-read guide to it all.
14. I Will Teach You to Be Rich by Ramit Sethi
For those most interested in the gains they’ll achieve by digging into a personal finance book, “I Will Teach You to Be Rich” offers a well-organized six-week plan to help you achieve your goals and build wealth. Author Ramit Sethi gives readers specific, actionable steps to take to establish and take hold of the “rich life” they design for themselves. If you’re determined to make a plan for yourself and your finances, this book is a great place to start.
15. You Are a Badass at Making Money by Jen Sincero
Personal finance books don’t have to be dry and boring. In Jen Sincero’s book “You Are a Badass at Making Money,” she takes a lighthearted approach to finances and the mindset it requires to achieve financial wellness. Although Sincero doesn’t offer any actional tidbits of wisdom, she does do an excellent job of inspiring readers to gain a whole new perspective on earning money. This read may even help you get motivated to start saving your money too!
Download Gerald Today
With Gerald, you can take many of the financial strategies discussed in these books and set them into motion. With our features like automated bill pay, personal budgeting, bill tracking, and much more, you’ll be well on your way to financial freedom in no time. Let us help you achieve your financial goals!
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