Top 5 Best Books about Personal Finance
Listed below are the Top 5 Best Books about Personal Finance. Personal finance is all encompassing term that has to do with your budgeting, saving, and investing management. A proper system can completely change your life. If you're looking to join the club of people who have mastered their personal finances then these books will help you get there!
This may be the book personal finance book I’ve ever read. It’s clear, concise, and written in a way that keeps the reader’s attention throughout the entire book. Before this book I thought of retirement savings in a pretty boring fashion. A portion of your check goes into your 401k and maybe you save some additional money on the side and invest that through a brokerage account. After 30-40 years of working in your field you get to begin taking distributions and consider yourself no longer reliant on a job.
This book was the first time I was introduced to the concept that once you’ve accumulated a year or two worth of salary, not forty, you gain incredible negotiating power and freedom in your job. On top of that, it outlines in the perfect amount of detail how to accomplish such a feat. That’s why it’s first on our list of the best books about personal finance. It even makes it on our Top 5 Best Books about Financial Independence.
This bestseller should be read by every person who is looking to master their personal finances. Written by Dr. Thomas J. Stanley, this evidence-based story takes a deep dive into the seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door.
Number two on our list of best books about personal finance carries a power message, and that’s anybody with a steady job can generate a large amount of wealth given enough time. There’s no secret sauce, no special system, and no luck involved. It all breaks down to frugality and the same wise investments everybody has been making for over a hundred years. The sequel to this book, The Millionaire Mind, is an excellent additional to your library as well.
Now I don’t like this title because it’s very gimmicky. But the content inside of it is extremely useful. “I WIll Teach You To Be Rich” should be on the bookshelf of every person looking to take control of their financial future. This book deserves your attention if you want a greater understanding of how to master your personal finances.
It teaches you how to optimize your credits, set up no-fee high interest bank accounts, open a Roth IRA or 401k, save hundreds of dollars a month, automate accounts so they work together, and create your first portfolio. Plus, there’s material on overcoming psychological barriers, love and money, and new investment options. This book is so important that it’s even included in our Top 5 Best Books about Budgeting.
You’re not allowed to have a list of the best personal finance books and not include this legendary book by Dave Ramsey. By now, you’ve heard all the nutty get-rich-quick schemes, the fiscal diet fads that leave you with a lot of kooky ideas but not a penny in your pocket. Hey, if you’re tired of the lies and sick of the false promises, take a look at this—it’s the simplest, most straightforward game plan for completely making over your money habits. And it’s based on results, not pie-in-the-sky fantasies. With The Total Money Makeover: Classic Edition, you’ll be able to:
- Design a sure-fire plan for paying off all debt—meaning cars, houses, everything
- Recognize the 10 most dangerous money myths (these will kill you)
- Secure a big, fat nest egg for emergencies and retirement!
This book starts with the powerful story of an average American couple–he’s a low-level manager, she’s a beautician–whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. Through their story you’ll learn the surprising fact that you cannot get rich with a budget! You have to have a plan to pay yourself first that is totally automatic, a plan that will automatically secure your future and pay for your present.
David gives you a totally realistic system, based on timeless principles, with everything you need to know, including phone numbers, websites and apps, so you can put the secret to becoming an Automatic Millionaire in place from the comfort of your own home. You’ll also find this book recommendation in our Top 5 Best Books about Saving for Retirement.