Stop: If you aren’t serious about your finances, this blog is going to be very boring. It’s National Book Lover’s Day, a day for the ultra nerds to let their nerd flag fly. Take pride in being a nerd? You have found the right place. If you are reading financial advice books, you have kicked back the Kool-aid on financial planning and joined the others in your quest for better spending, better investing, and better saving.
This is a pretty solid list of the best financial advice books, but there are literally thousands of books out there. These are just our picks to help you get started with financial tips, and moving toward debt independence.
Rich Dad Poor Dad by Robert Kiyosaki
This recommendation comes from TheBalance, a trusted source that made this book their top pick:
“Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! is something of a memoir with lessons attached. It celebrated its 20th birthday in 2017 with an updated edition, and author Robert Kiyosaki has a lot to celebrate. This is this the No 1 bestselling personal finance book ever.”
The summary: “Kiyosaki walks readers through some childhood reminiscences, a contrast between his own not-very-wealthy father and the dad of his friend who happened to be one of the richest residents of Hawaii. The comparison shines a spotlight not just on how to best manage your money or lack of it, but also on helping your kids to do so as well.”
The Total Money Makeover by Dave Ramsey
We’ve managed to link to DaveRamsey.com nearly a dozen times in recent blogs, since Dave is a legend in personal finance (and we really want to piggyback off his site’s SEO brilliance).
MoneyUnder30.com selected The Total Money Makeover as their best book for debt payoff saying, “It was his 2007 book, The Total Money Makeover, that helped Deacon Hayes of WellKeptWallet and his wife pay off off $52,000 of debt in 18 months. Page after page, Ramsey shares the incredible transformations of people who paid off thousands of dollars in debt. Hayes says the snowball method that Ramsey recommends made the biggest difference in their budget.
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin and Joe Dominguez
Since every entry on our list can’t be by Dave Ramsey (Dave, if you are reading this, we’re sorry), we did some deeper digging to find other important reads. This publication by Vicki Robin and Joe Dominguez is very philosophical in nature, discussing mindsets and mentalities in order to reset the personal financial approach from the ground up.
NYMag.com lays out the rundown like this: “The simple premise of the book is the question: How much money are you willing to trade your life for? Whenever you’re working, your trading your life and energy for money. What does that mean to you? Once you’re clear on the ‘why’ behind your saving and spending, making decisions about investing and budgeting becomes much easier.”
The Intelligent Investor by Benjamin Graham
It would not be a solid list if we didn’t drop in an entry from the OG collection. This entry checks in from 1949, but its concepts and guidelines still apply to today’s personal financial world.
Investopedia summarizes: “The Intelligent Investor has been updated repeatedly over the past 65 years, including most recently by the financial writer Jason Zweig, as Graham died in 1976. Graham uses his book to map out and advocate for his preferred value approach to investing.”
Playing with FIRE (Financial Independence Retire Early): How Far Would You Go for Financial Freedom? by Scott Rieckens
We recently covered the FIRE movement, presenting the pros and cons for the program, how to get started, and what to expect.
US News includes a clutch read on the subject in their Best Personal Finance Books to Read Now list, saying, “It focuses on a major goal that many people have in life: achieving the level of financial freedom that enables them to walk away from the need for a career.”
Continuing, “This goal centers around two major pieces. First, you must strive to spend as little as you can by practicing extreme frugality. Second, you must do all you can to maximize your income in the short-term of your career. That creates a large “gap” between your spending and your income and, if you bank that gap, you’ll be on the road to rapid retirement.”
Agree with our list? Have more to add? Drop a comment on our Facebook post to let us know!