Managing your finances can be a daunting task and it can be difficult to know where to start. One way to gain this understanding is by reading personal finance books.
Luckily, there are many personal finance books out there that can provide valuable guidance on how to take control of your finances and make the most of your money.
To help you get started, here’s a list of 9 of the best personal finance books that are must-reads. They offer a wide range of tips on everything from budgeting and saving money to investing and building wealth.
I Will Teach You To Be Rich by Ramit Sethi
Ramit Sethi doesn’t believe in cutting lattes out of your life. He’s more interested in solving the big money questions that could save you tens of thousands of pounds over your lifetime.
If you want a book that will help you not worry about money in the future, without having to be super restrictive – this might be the book for you.
Some of the topics covered:
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How to automate your finances so you don’t have to constantly worry about them
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How to pay off any debt you have as quickly and effectively as possible
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How to invest to beat the best financial advisers
Ramit also has a podcast where he interviews couples and tries to help them break through their money problems.
Approx. reading time: 6 hours
The Richest Man in Babylon by George S. Clason
You might not expect a personal finance book first published in 1926 to still have much value. But this book is just as relevant today as it was back then.
Written as a series of fables, this short book gives lots of great guidance on how to think about money.
A great quote from this book is:
Approx. reading time: 2 hours
Rich Dad Poor Dad by Robert Kiyosaki
One of the most popular personal finance books ever written, Rich Dad Poor Dad has impacted millions of people.
The author, Robert Kiyosaki, explains that he grew up with two fathers. His biological father had poor financial literacy and a poor money mindset – making him the author’s Poor Dad.
On the other hand, Kiyosaki’s best friend’s father knew how to use money as a tool to better his life. This Rich Dad taught the author how to manage money and how to use it to create a great life.
The book covers some of the main advice his Rich Dad gave him. One of the main (often controversial) teachings? That your house is not actually an asset – in the author’s mind, it’s a liability.
Approx. reading time: 4 hours
The Little Book of Common Sense Investing by John Bogle
A must-read for anyone looking for a simple, straightforward approach to investing in the stock market without getting caught up in the hype and volatility.
The author provides a straightforward and practical guide to investing in index funds and building wealth over time. Bogle is a well-known advocate of index funds, and in this book he explains why he believes that index funds are a better investment than actively managed funds.
He also gives practical advice on how to create a diversified investment portfolio and how to avoid the common pitfalls that can lead to poor investment decisions.
Overall, the book is a great resource for anyone looking to take a more disciplined, long-term approach to investing.
Approx. reading time: 3 hours
The Total Money Makeover by Dave Ramsey
This is a great place to start if you’re looking to get your finances in order.
In this book, Ramsey provides a step-by-step plan for getting out of debt and building wealth, using his signature “Baby Steps” method. This approach is designed to help you take small, manageable steps towards your financial goals, rather than trying to overhaul your entire financial situation all at once.
He covers a variety of topics, including investing for the future. Ramsey’s advice is practical and easy to follow, making this book a great resource for students looking to take control of their finances or who might be struggling with debt and want to get back on track.
Approx. reading time: 2 hours
The Millionaire Next Door by Thomas J. Stanley & William D. Darko
What are millionaires really like? How do they spend their money? How did their parents raise them? You may be surprised.
Through in-depth research looking at the common characteristics that lead to financial success, the authors reveal that many millionaires are actually ordinary people who have built their wealth through key traits like hard work, frugality, and discipline.
They also make smart financial decisions, focus on saving and investing, and are willing to take calculated risks.
This book is a great read for anyone looking to learn from the success of others and see what actually sets the rich apart.
Approx. reading time: 4 hours
Think and Grow Rich by Napoleon Hill
Another oldie here.
Written by Napoleon Hill in 1937, this is a personal development and self-help book that teaches the reader how to think positively and overcome obstacles in order to achieve success.
The book begins by discussing the power of thought and the importance of having a desire for success. It then goes on to describe the six steps to achieving riches, including:
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Define your desire
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Believe in yourself and your ability to succeed
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Develop a positive mental attitude
While not solely a financial education book (‘rich’ here also refers to having great relationships, changing the world and living an amazing life overall), the themes are directly applicable to how we should think about money.
Approx. reading time: 5 hours
Everyday Millionaires by Chris Hogan
Similar to ‘The Millionaire Next Door’, in this book Chris Hogan looks at how everyday, ordinary people have become millionaires – and how you can do the same.
The book breaks down some of the myths around what it takes to become a millionaire. It also looks at actionable steps you can take to get there, using research with over 10,000 millionaires.
At the end of each chapter, there’s a ‘Millionaires do…’ and ‘Millionaires don’t…’ section. To help you see the habits you might want to take on to become a millionaire and what habits you might have to drop to get there.
Approx. reading time: 3.5 hours
Stay Financially Healthy While You Study by Vivi Friedgut
We couldn’t forget our founder’s book, created specifically with university students in mind, could we?
This super-practical pocket-sized guide is full of tips and hacks that every student needs to become confident managing their finances.
The book starts by explaining what “financially healthy” actually means before looking at budgeting, increasing your income, debt and how to deal with common problems that are particularly common among students.
Approx. reading time: 1.5 hours
Whether you’re just starting out on your financial journey or you’re a seasoned pro, these nine personal finance books will provide valuable insights and guidance to help you make the best financial decisions for you.
Whether you buy the books online, get them from the library, pick them up in a charity shop/car boot sale or listen to the audiobook version – investing time into these books could help you to really improve your financial wellbeing.
Further learning ⏭
Why is learning about money important? – Five big reasons why learning about money is so important, showing how financial education can impact every area of your life and your future.
