7 Personal Finance Books That Will Change Your Life
Are you searching for a great personal finance book? One that can help you improve your finances and give you the motivation and inspiration you need to finally get a handle on your finances.
I’ve shared with most of you that I’m a self-proclaimed personal finance nerd. I love to read about personal finance; always looking for new strategies to adapt to our ever-changing world. Here are some of the very best personal finance books out there. They are great reads that provide tons of valuable insights and motivation towards achieving your personal finance goals.
These books have the potential to lead you to tremendous personal wealth creation and success with your finances. Are you ready?
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Here are the best personal finance books of this year...
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Millennial Money Makeover: Escape Debt, Save For Your Future, and Live the Rich Life Now by Conor Richardson
Millennial Money Makeover is geared at helping millennials learn and navigate the financial issues of they face today. In the book, Conor Richardson lays out a six-step journey that will help you transform your personal finances. It covers things like quickly paying off student loan debt, techniques for establishing a successful financial future, and much more.
What I love personally about Millennial Money Makeover is that it’s applicable to anyone. If you want to learn how to invest, manage your debt, save money, or various other personal finance skills this book is for you.
Broke Millennial Takes On Investing: A Beginner’s Guide to Leveling Up Your Money by Erin Lowry
If you are a newbie in the world of investing or are considering dipping your toe in the investment waters (which you should be), then you need to check out this book.
The Broke Millennial Takes On Investing, released in 2019, is a phenomenal resource newbies to the world of investing. Investing can be scary and overwhelming at first, but Erin Lowry introduces investing in a way that takes away the mystery and helps put the pieces together. You’ll get insights into modern investing through the use of Robo advisers and investment apps, like Acorns.
Erin also touches on what happens when you miss out on investing. After reading this book, I promise you’ll be eager to start building your wealth via investing.
Pick up your copy and start navigating the modern investment world.
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Secrets of the Millionaire Mind by T. Harv Eker.
This book is very different from the first two I shared as it has a terrific psychology spin on it. The author, T. Harv Eker, believes that each of us has a financial foundation from which our money beliefs are created. He believes it is our foundation and financial blueprint that determines how wealthy we will be.
If you are reading this and thinking, “Great, I’m screwed”, hang on!
Mr. Eker also believes that with the proper knowledge and tools, you can change your blueprint. Creating the life that YOU WANT!
Also included in the book are the Wealth Files, which you use to unveil the concepts about money that are holding you back. These are the tools to help you retrain your subconscious and change your money blueprint.
While this isn’t normally the type of book I’d go for, I definitely give this one five stars!
Rich Dad Poor Dad by Robert T. Kiyosaki
Rich Dad Poor Dad is considered to be one of the best personal finance books of all time. Despite being written over 20 years ago, the teachings of the book have stood the test of time.
Robert Kiyosaki and Sharon Lechter focus on independence, creating wealth, and the importance of becoming financially educated. It is a great book if you’re looking to build a solid foundation in personal finance.
This book was a quick read (took me a few hours) and really set the tone for building my financial groundwork.
The Total Money Makeover by Dave Ramsey
Unless you’ve been living under a rock, you’ve probably heard of this one.
This was the book that got me started on my own personal finance journey; the one I’ve read and reread more times than I can count.
Dave Ramsey’s philosophy of money resonates with me to my core. This book turned me into a compete personal finance nerd and I am 100% ok with that.
If you’re looking for something that will be a true eye opener and get you on the path to financial freedom Total Money Makeover is it!
Over the course of the book you’ll learn the 7 baby steps to financial peace which are:
1: A beginner emergency fund of $1,000 cash
2: Use the debt snowball to pay off all your debt (except your house)
3: A fully funded emergency fund of 3 to 6 months of expense
4: Invest 15% of your household income into retirement
5: Save for college
6: Pay off your home early
7: Build wealth and give generously
This is the book I always refer to first. It’s my personal finance bible that’s riddled with post it notes, highlighted pages, and torn chapters.
Ready to start conquering your finances, but not sure where to start? Here are a couple great resources for you:
The Barefoot Investor by Scott Pape
This is another book I really enjoyed because of it’s mix of humor, light-heartedness, and education.
In this book, Scott Pape preaches the use of the debit card much like Dave Ramsey preaches cash. So if you’re someone who does not do well with using cash, Scott Pape’s system could definitely benefit you.
In the book you get a detailed step-by-step instruction on how set up his system. Here are some of the highlighted points:
Saving up a house down payment in 20 months
Using the "Trapeze Strategy" to double your income
Saving over $77,000 on your mortgage and wiping out 7 years of payments
Selecting a financial advisor who won’t rip you off
Giving your kids (or grandkids) a $140,000 check on their 21st birthday (WHAT!?!)
100 Side Hustles: Ideas For Making Extra Money
If you’re looking to make extra money but aren’t quite sure how this book will inspire you!
100 Side Hustles shares stories about real-world successful side business owners. It features regular people who launched successful side businesses that anyone can do.
Chris Guillebeau presents a step-by-step process for getting your side business started. Every story in the book will motivate and inspire you to turn your passion into a side hustle.
Transforming Your Finances
When I started reading personal finance books, I had no idea they could literally transform my life. I’ve found that a great personal finance book makes all the difference between living paycheck to paycheck forever and freeing yourself from financial burden. I encourage you to open your mind to new possibilities. These books all offer unique and powerful information that can transform your finances. Happy Reading!