Personal finance is a tricky yet important subject. Anyone and everyone can benefit from learning more about it even if they are currently set financially. One of the very best ways to learn more about personal finance – whether this means the basics, living frugally, or investing – is by reading books on the topic.
Books pertaining to personal finance are numerous. As with anything, some are better than others. The ten discussed below are the top ten personal finance books in Project Debt Relief’s personal opinion. They worked well for us and they’ll probably work well for you too. Take a look.
The Total Money Makeover by Dave Ramsey
Dave Ramsey is a well-known name in the personal finance and debt relief world. His controversial views, such as his never-ceasing support of the debt snowball technique, are backed up by his own personal experience of making a $4 million fortune early in life and then losing it all to bankruptcy. Anti-credit is the name of the game as far as he is concerned and he explains why in his book along with other tips for those struggling with debt.
The Millionaire Next Door by Stanley and Danko
In this top personal finance book, the authors, a dynamic duo of financial knowledge, interview several millionaires hoping to find a common thread that connects them. The biggest thing they found, which they then discuss at length in the book, is that nearly all millionaires budget their money. Though they have enough wealth to live an extravagant lifestyle, they don’t, which is probably how they accrued so much money in the first place. The book, while tedious and difficult in spots, is a must read for anyone interested in making more money (and who isn’t?).
The Wealthy Barber by David Chilton
David Chilton’s addition to our best personal finance books list takes a much different spin than any of the others thus far. The book is written in the form of a novel but it gives sound financial advice throughout. It’s basically set in a barber shop where a number of characters meet on a regular basis and talk all things finance: saving money, investing money, buying a house, etcetera, and etcetera.
How to Live Well Without Owning a Car by Chris Balish
Though many people are adverse to the idea of giving up their automobile, this book by Chris Balish is worth a read anyways. In it he discusses the benefits of not owning a car in modern society, including the financial, ecological, and social pluses. The rest of the book is spent describing how to live without one. Heck, it might just convince you that you’re better off without a car as well.
Wealth on Minimal Wage by James Steamer
With many Americans, especially younger adults just stepping out into the real world, making minimum wage, this book by James Steamer offers some much needed tips and advice. It puts forth solid ideas on how you can survive and actually increase your wealth while working a job that pays minimum. A few of its focuses include avoiding debt, maximizing the amount you make, and saving on utilities. All in all it tells you how to be frugal – and how to be happy being frugal.
Miserly Moms by Jonni McCoy
Though both the book’s cover and title might seem unassuming at first, Jonni McCoy’s addition to this list actually offers some of the very best advice. It hones in on getting rich slowly, making good long-term decisions, and saving money. It is especially relevant for stay-at-home mothers but anyone who wants to be more frugal will be able to take a lot from it.
The Automatic Millionaire by David Bach
The catchy title is what pulls people in but the excellent advice is what makes people stay. David Bach recommends a solid and sound system in his book that will make investing a breeze. Get this book if you have always wanted to open an IRA but have never got around to it.
The Bogleheads’ Guide to Investing by Larimore, Lindauer, and LeBoeuf
This best personal finance book also has to do with investing. It offers excellent advice on all things related but is especially focused on slow investment options like indexed mutual funds. The three authors have nearly a century of combined experience and the ability to teach such jargony topics as diversification, inflation, and asset allocation to even the dimmest among us.
The Only Investment Guide You’ll Ever Need by Andrew Tobias
Take Andrew Tobias by his word: this book really does contain nearly all of the investing advice that you’ll ever need. He writes in a friendly, merry tone, treating you as a friend, while describing such difficult to understand topics as mutual funds, bonds, and treasury bills. Except that he makes them easy to understand.
How to Win Friends and Influence People by Dale Carnegie
Perhaps the grandfather of all classic success books, Dale Carnegie’s books has made its way into the hands of more people than any other book on this list. It is especially focused on human relations as it relates to success in life (including personal finance). The best thing about this book is that it is simple to find for a buck or two at nearly any used book store.