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7 Life-Changing Financial Education Books:
Books On Money Management you Need To Read
In today’s post, I am going to be sharing my favorite financial education books. These books have truly changed the way I manage my money, and I hope they do the same for you.
Personal finance is something I have struggled with in the past for a number of reasons.
For starters, I believe that just as generational wealth is a thing, so is generational poverty. My parents weren’t very knowledgeable about how to have money work for us, and only ever spoke to us about the very basics of saving.
Another factor of my poor money-handling skills was that I was never taught ANYTHING to do with finances in school. It honestly baffles me that I was taught so many impractical things in school, yet something as important as personal finances wasn’t ever touched on.
Because sure, making money is great and all, and I know how to do THAT, but then what?
It wasn’t until I started reading blogs and personal finance books that I began to learn the basics of handling money. And today I am going to be sharing my favorite financial education books with all of you. I’m positive that they will give you a few a-ha moments of your own.
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If you want a quick and easy to get through book on personal finance, The Richest Man In Babylon is going to be your best bet. Even though this book was first published in 1926, its advice regarding personal finance is still very much relevant today. The book teaches doable steps that you can apply to your finances to ensure saving, as well as making more money. A true classic that I think everybody should read at least once in their lives.
Another fantastic personal finance book is Rich Dad Poor Dad. It is the author’s story of living with “two dads”, one being his own, and the other his best friend’s father. He explains in this book how the two dads had different mindsets regarding money. One of them was poor, and the other was wealthy. The book explores the myth that you have to work extremely hard to be rich and rather focuses on doable steps you can do to have your money work for you.
This book is the McDaddy of all personal finance books, in my opinion. If you are in any amount of debt and are struggling to pay it off, Total Money Makeover is the book for you. You will be guided on what exact steps are needed from you to pay off your debt, as well as how you can change your spending habits and budget in order to save money. Dave Ramsey’s approach is very straight-forward. If you are someone who responds to tough love, this book is written in a way that will make you take a hard look in the mirror and want to get your act together.
Broke Millennial is the perfect book for us millennials struggling with finances. This book contains helpful information on student loans which, as I can only imagine, many of us are still trying to pay off. If, however, you have basic knowledge of personal finance, you might find this book too basic for you.
Another one of my favorites; I Will Teach You To Be Rich is the perfect book for 20somethings. It’s a logical step-by-step guide for financial success and it’s helped me a lot. What I like the best about I Will Teach You To Be Rich is that the author doesn’t make you feel guilty about wanting to spend money on what you love. In fact, he encourages spending extravagantly on the things you love, as long as you cut out the costs of those things which don’t bring you joy. A fantastic read that everybody needs in their personal finance library.
The Millionaire Next Door showcases millionaires who could, quite literally, be living next door to you. The book focuses on regular people who are self-made millionaires, as opposed to celebrities. It talks about living below your means and investing, and is very eye-opening! This book also has a lot of statistics throughout the book which just shows how much research was carried out while writing it. I’d highly recommend The Millionaire Next Door to anybody who hasn’t read it yet!
If you have read all the practical how to make money books and are looking for something new and refreshing, this book is for you. Jen Sincero’s approach to attaining wealth is less practical and more energy-based. She uses rules from the Law of Attraction to teach you how to manifest money. Sure, the book is a little woo-woo, however, it does teach how to stop looking at money like it’s a far-fetched, bad thing that will never happen to you. You Are A Badass At Making Money also has money mantras throughout each chapter which I personally really liked.
You might also enjoy these posts on finances:
10 SIDE HUSTLES IDEAS
15 THINGS TO STOP BUYING THAT WILL SAVE YOU MONEY