There can be a lot of confusion and complexity surrounding money. Budgeting, saving, investing, and retirement planning are things to learn. Fortunately, more than enough great books can help you begin your journey to financial literacy.
Here are twenty of the best books for learning about money.
1. “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by JL Collins
Originally written as advice to his daughter, blogger and financial expert JL Collins presents the following five steps to achieving financial independence and a secure retirement:
- Don’t spend more than you earn.
- Stay out of debt.
- Save “F-You Money.”
- Invest in stock index funds.
As well as demystifying stocks and bonds, he discusses various options for investment plans. Aside from explaining basic concepts such as asset allocation, Collins also addresses key questions such as getting the most out of your investments and avoiding significant tax burdens.
Sample quote: “Money can buy many things, but nothing is more valuable than your freedom. Life choices are not always about the money, but you should always be clear about the financial impact of the choices you make.”
2. “The Little Book of Common-Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns” by John Bogle
The book’s author, John Bogle, founded Vanguard mutual funds and pioneered low-cost index funds for Vanguard. Published in 2007 and updated in 2017, it remains an influential book for investors today. Known for championing small investors, Bogle’s straightforward guide illustrates how simple actions can lead to prosperity.
“The Little Book of Common Sense Investing” generally promotes passive investing. For long-term financial success, investing in index funds is recommended.
Sample quote: “The winning formula for success in investing is owning the entire stock market through an index fund and then doing nothing. Just stay the course.”
3. “Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live By?” by Cary Siegel
Don’t waste your time with boring personal finance books. Instead, check out Cary Siegel’s “Why Didn’t They Teach Me This in School?” — which is a rallying cry for the financial literacy missing from many curriculums.
Using his own experiences, Siegel outlines 99 principles for successful money management. Despite being simple, these lessons can significantly impact your financial well-being.
Siegel developed this framework in response to a parent’s desire to prepare his children for adulthood. As a result of recognizing its broader value, he decided to share this financial knowledge with everyone.
Whether it’s budgeting and saving or earning strategies, he summarizes his insights into eight core lessons.
Sample quote: “Be happy with what you have. The grass is rarely greener on the other side.”
4. “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas Stanley and William Danko
Originally published in 1996, this best-selling book on personal finance was reissued in 2010 with a new foreword by Dr. Thomas J. Stanley. In it, the authors explore the benefits of frugal living and careful spending on becoming millionaires, often exemplified by modest small business owners. By changing your habits, you can change your life.
As a whole, “The Millionaire Next Door” provides valuable insights into self-made millionaire lifestyles and habits. Aside from challenging the stereotypes associated with wealth, it emphasizes financial discipline, smart investing, and living within one’s means.
Sample quote: “Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.”
5. “Broke Millennial: Stop Scraping By and Get Your Financial Life Together” by Erin Lowry
The book was published in 2017 and is aimed at 20- and 30-year-olds.It addresses millennials’ biggest money challenges, such as student loans and financial transparency with their partners.
There are funny true stories and practical advice in this easy-to-understand book that will keep you engaged. The book also offers actionable advice on achieving financial success and stability.
Sample quote: “Saving money is not about deprivation – it’s about prioritizing what truly matters to you and cutting back on things that don’t align with your goals.”
6. “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki
A classic personal finance book, this book shares lessons learned from the author’s father and his wealthy friend’s father. Initially published in 1997, it explains investing and managing money without a high income. Additionally, it emphasizes the importance of financial education, shows how to make money work for you, and challenges conventional wisdom about money.
Sample quote: “I am concerned that too many people are focused too much on money and not on their greatest wealth, which is their education. If people are prepared to be flexible, keep an open mind, and learn, they will grow richer and richer through the changes. If they think money will solve the problems, I fear those people will have a rough ride. Intelligence solves problems and produces money. Money without financial intelligence is money soon gone.”
7. “Get Good With Money: Ten Simple Steps to Becoming Financially Whole” by Tiffany “The Budgetnista” Aliche
As a starting point for young adults to learn about money, this 2021 book is an excellent resource. Tiffany Aliche offers practical advice on budgeting and living debt-free as a former preschool teacher turned financial educator. This book can benefit anyone, but kids in particular will learn how to budget and live debt-free after reading it.
Sample quote: “What would this purchase, change, or financial decision do for me now? What will it do for me a month after the bill comes? What will I do when the bill comes, and the money that was supposed to go toward one thing has to go to this other thing?”
8. “Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence” by Vicki Robin and Joe Dominguez
Are you interested in getting your finances in order and enjoying a better life as well? These two things aren’t mutually exclusive.
This book, initially published in 1992 and updated in 2018 by Vicki Robin and Joe Dominguez, explains how to change your relationship with money and become financially independent:
- Getting out of debt and staying out of it.
- Spend and save wisely without being governed by strict rules.
- Build wealth by investing.
- Manage side hustles and freelance work.
- Making green while going green.
Sample quote: “The key is remembering that anything you buy and don’t use, anything you throw away, anything you consume and don’t enjoy is money down the drain, wasting your life energy and wasting the finite resources of the planet. Any waste of your life energy means more hours lost to the rat race, making you die. Frugality is the user-friendly and earth-friendly lifestyle.”
9. “How to Money: Your Ultimate Visual Guide to the Basics of Finance by Jean Chatzky and Kathryn Tuggle
In their book “How To Money,” financial expert Jean Chatzky and writer Kathryn Tuggle aim to empower women. In addition to the book, a powerhouse in personal finance with 25 years on the Today show, Chatzky, and Tuggle, a veteran New York editor, created HerMoney to help women become better financial managers.
Although this New York Times bestseller from 2022 covers the basics, it goes beyond them. It covers everything from budgeting basics to navigating life’s milestones, such as student loans, first jobs, credit cards, and even touches on investment principles. Featuring beautiful illustrations, “How To Money” shows you how to earn, manage, and use money effectively.
Sample quote: “And while the amount of money you can make is somewhat limited (particularly when you’re young), it’s less limited than time. If you put your mind to it, you can make more.”
10. “The Savage Truth on Money: Third Edition” by Terry Savage
Although Terry Savage’s financial principles remain timeless, technology has made getting financial security easier and faster. For example, investing can be automated with easy-to-use apps, affordable tools, and expert guidance.
In this completely revised edition from 2019, you’ll learn:
- Take charge. Make better financial decisions by utilizing technology.
- Master your money. Keep your spending under control, manage your debt, and save more.
- Outsmart your emotions. Using brain science knowledge to your advantage will help you make more informed financial decisions.
- Build your dream team. You can save money by finding a reputable financial advisor who prioritizes your well-being.
- Conquer college costs. Consider a college financing strategy that avoids overwhelming debt.
- Retire in style. Make a realistic retirement plan that allows you to enjoy your golden years in financial security.
This book is your one-stop shop for all things financial, no matter where you are starting from.
Sample quote: There are two simple ways for amassing investment wealth:
- Spend less than you make.
- Invest the difference — both money and time — to maximum advantage
11. “The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness” by Dave Ramsey
In “The Total Money Makeover”, Dave Ramsey, America’s trusted authority on money and business, walks you through eliminating debt, saving money, and investing. Among his seven “Baby Steps” to financial health, Ramsey emphasizes aggressive debt repayment, building an emergency fund, and investing.
Sample quote: “Winning at money is 80 percent behavior and 20 percent head knowledge. What to do isn’t the problem; doing it is. Most of us know what to do, but we just don’t do it. If I can control the guy in the mirror, I can be skinny and rich.”
12. “The Intelligent Investor” by Benjamin Graham
You won’t be able to outsmart the market with Benjamin Graham’s classic, published in 1949. However, it will teach you how to avoid losses, reduce risk, and generate sustainable returns in the long run. Warren Buffett considers the Intelligent Investor to be one of the best investment books ever written.
A frequent update keeps the book up-to-date on value investing — buying stocks at a discount to their intrinsic value. Columnist Jason Zweig of the Wall Street Journal provided the most recent update.
Sample quote: “The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The Intelligent Investor is a realist who sells to optimists and buys from pessimists.”
13. “Finance for the People: Getting a Grip on Your Finances” by Paco de Leon
Do you feel lost when it comes to money? Then this book is for you.
This illustrated guide to managing your finances is the perfect tool for anyone, regardless of their current financial situation. We have a complex relationship with money, shaped by unspoken rules, a history of hardship, and a system that can feel unfair. It’s no wonder saving is hard, debt spirals out of control, and investing is complicated.
This book, however, is different. It suggests that you don’t need rigid advice. Through practical exercises and mindfulness techniques, you’ll explore your own money beliefs and experiences. An experienced financial expert, Paco de Leon simplifies complex concepts with over 50 illustrations and diagrams to transform your relationship with money.
Sample quote: “Rebuilding your credit can take a while, especially if you have some missteps that keep it out of the excellent range. Don’t sweat it too much. Time heals all wounds; it can also improve your credit score.”
14. “Financial Freedom: A Proven Path to All the Money You Will Ever Need” by Grant Sabatier
This 2019 book, written by “The Millennial Millionaire,” provides strategies for those who want to quit the jobs they hate, retire early, or travel the world for financial independence. Although it’s aimed at millennials looking for financial freedom, it still provides practical advice for anyone.
Sample quote: “The rich look at money not as a limited resource that they need to maximize (the way most people do), but as a fungible tool that can be used for any purpose. They take advantage of every opportunity to make more money and build wealth in as many ways as possible—by cutting expenses, optimizing their fees/prices, minimizing their taxes, building multiple income streams, and using whatever other ways they can find. They focus on making as much money as possible per minute and hour of their time.”
15. “Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life” by Laurence J. Kotlikoff
“Money Magic,” published in 2022, offers practical advice from economist Laurence Kotlikoff, a leading personal finance expert. To reach your financial goals, Kotlikoff uses his economic expertise to provide you with clear and actionable steps.
- Rather than using complicated financial jargon, the book offers common-sense advice.
- Education, career, housing, and retirement planning are just a few of the financial decisions Kotlikoff addresses.
- In addition to illustrating his money-saving tips, he highlights ways to increase your income and avoid debt, such as exploring high-earning careers that don’t require a traditional college degree.
Sample quote: There are simple and powerful ways to get more money without gambling your hard-earned savings. There are also ways to lower your risk. And there are ways to buy more happiness with a given amount of money.”
16. “The Psychology of Money: Timeless lessons on wealth, greed, and happiness” by Morgan Housel
An essential part of this book challenges the idea that wealth-building needs to be viewed as a one-size-fits-all process. Morgan Housel, an expert in behavioral finance and investment history, argues that behavioral factors matter more than knowledge regarding financial success.
In his book, Housel examines how emotions like fear, greed, and social comparison can cloud our judgment and impede financial success. In his view, financial decisions aren’t solely based on logic but also the experiences and backgrounds of individuals.
Sample quote: “Some people are born into families that encourage education; others are against it. Some are born into flourishing economies encouraging entrepreneurship; others are born into war and destitution. I want you to be successful, and I want you to earn it. However, realize that not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself.”
17. “I Will Teach You to Be Rich” by Ramit Sethi
This best-selling book takes a straight-talking, humorously confident approach to smart banking, savings, spending, and investing. After all, it doesn’t take an expert to become rich; it just takes a plan and some tricks. As Sethi teaches, saving early and investing automatically will allow you to take advantage of your money without doing anything.
Also included in this book is a six-week plan for building wealth, which provides you with specific, actionable steps to reach your financial goals. If you’re determined to create a solid financial plan, this book is for you.
Sample quote: “The single most important factor to getting rich is getting started, not being the smartest person in the room.”
18. “This Is the Year I Put My Financial Life in Order” by John Schwartz
Published in 2018, this book tells the story of John Schwartz’s struggle with managing his finances in his 50s. Now a professor at the University of Texas, Schwartz spoke with financial experts to learn from his mistakes and offer practical advice.
Schwartz and his wife Jeanne found that if you follow tried and true guidelines, you can be financially successful:
- Spend (and live) within your means as much as possible.
- Set and forget your employer-sponsored retirement plan by investing early and consistently.
- Be thoughtful with your insurance (healthcare and term life) and create a living will.
Sample quote:” You have probably made some bad decisions as well. But you can climb out, too. You can find your guides. You can make your own luck.”
19. “You Are a Badass at Making Money: Master the Mindset of Wealth” by Jen Sincero
In this 2017 book, Jen Sincero takes an unconventional approach to finances to help readers learn a whole new way of looking at money. Although it lacks actionable advice, it inspires readers to save and improve their financial mindset.
Sample quote: “We’ve been raised to believe that you have to work hard to make money, and certainly, there are times when this is true, but the real secret is you must take huge, uncomfortable risks. You have to do stuff you’ve never done before, make yourself visible, and acknowledge your own.”
20. “MONEY Master the Game: 7 Simple Steps to Financial Freedom” by Tony Robbins
In his book “Money Master the Game,” motivational speaker and financial guru Tony Robbins lays out a clear path to financial freedom.
Robbins emphasizes the need to craft a financial blueprint. As such, the book explains how to develop a plan to achieve financial goals. In addition, it discusses budgeting strategies and living within your means to free up capital for saving and investing.
As part of the book, you’ll learn about asset allocation, which involves distributing your investments among stocks, bonds, and real estate. Robbins advises readers to select low-cost index funds and avoid high-cost mutual funds for optimal returns.
Sample quote: “Contrary to popular wisdom, knowledge is not power—it’s potential power. Knowledge is not mastery. Execution is mastery. Execution will trump knowledge every day of the week.”
FAQs
What kind of money book should I get?
Depending on your financial goals and experience level, many money books are available. I’ll give you a quick breakdown:
- Getting started. A general guide, such as “I Will Teach You To Be Rich” by Ramit Sethi or “Broke Millennial” by Erin Lowry, is an excellent place to start if you’re new to personal finance.
- Debt payoff. Check out “The Total Money Makeover” by Dave Ramsey, which advocates a structured, cash-based approach to dealing with debt.
- Building wealth. JL Collins’ “The Simple Path to Wealth” is an excellent book for long-term investors.
- Psychology of money. A key to a successful relationship with money is to understand it. Take a look at “The Psychology of Money” by Morgan Housel for some fun and insightful reading.
What are some things to remember when choosing a book about money?
- Your financial goals. Do you have any specific goals for your money? Are you trying to get out of debt, save for retirement, or build wealth? Knowing your goals will help you choose a book that meets your needs.
- Your financial knowledge. What is your level of knowledge about personal finance? You’ll want to choose an easy-to-understand book if you’re a beginner. Alternatively, if you’re more experienced, you can choose a book with more in-depth information.
- Your learning style. What is your preferred method of learning? Are you a reader, a listener, or a viewer? In each format, books are available.
Where can I find money books?
Books about money can be found in libraries, bookstores, and online retailers. You can also find recommendations for money books on many online financial resources, such as Due.
Are there any other resources available to learn about money?
Absolutely!
There are many other resources available to help you learn about personal finance besides books:
- A reputable financial institution or blog may offer online courses and articles.
- Podcasts that offer financial advice and insights.
- Libraries and community organizations offer free financial literacy programs.
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