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Top 20 Best Books on Financial Education:2024 Edition

Are you looking to improve your financial literacy and make smarter money decisions? Look no further than this curated list of the 20 best books about financial education. Whether you’re a seasoned investor or just starting to build your financial knowledge, these books cover a range of topics from personal finance to investing strategies. Dive into the world of money management and wealth building with these top-rated financial education books.

• 1 20 Best Books About Financial Education
• 2 Rich Dad Poor Dad
• 3 The Intelligent Investor
• 4 A Random Walk Down Wall Street
• 5 The Millionaire Next Door
• 6 Think and Grow Rich
• 7 The Little Book of Common Sense Investing
• 8 The Richest Man in Babylon
• 9 The Four Pillars of Investing
• 10 The Bogleheads’ Guide to Investing
• 11 The Essays of Warren Buffett
• 12 The Total Money Makeover
• 13 The Big Short
• 14 The Wealthy Barber
• 15 The Little Book of Value Investing
• 16 The Only Investment Guide You’ll Ever Need
• 17 The Coffeehouse Investor
• 18 The Automatic Millionaire
• 19 I Will Teach You to Be Rich
• 20 The Money Book for the Young, Fabulous & Broke
• 21 Rich Dad Poor Dad
• 22 Conclusion

20 Best Books About Financial Education

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Rich Dad Poor Dad

By robert kiyosaki.

Rich Dad Poor Dad by Robert Kiyosaki is a groundbreaking book on financial education that challenges traditional beliefs about money and investing. Kiyosaki shares the lessons he learned from his two dads – one a highly educated but financially struggling father, and the other a wealthy, entrepreneurial mentor. Through their contrasting philosophies, Kiyosaki outlines the importance of financial literacy, assets vs. liabilities, and the power of investing in oneself. This book about financial education offers practical advice on how to achieve financial independence and build wealth through real estate, stocks, and entrepreneurship. With its easy-to-understand concepts and engaging storytelling, Rich Dad Poor Dad has become a timeless classic in the realm of financial education books and continues to inspire readers to take control of their financial future.

The Intelligent Investor

By benjamin graham.

The Intelligent Investor by Benjamin Graham is a classic book on financial education that has stood the test of time. Graham, known as the father of value investing, provides timeless wisdom on how to approach the stock market with a rational and disciplined mindset. The book emphasizes the importance of thorough research, long-term thinking, and managing risk to achieve sustainable investment success. Graham’s principles, which include the concept of margin of safety and the distinction between investment and speculation, continue to be highly influential in the world of finance. Whether you’re a seasoned investor or new to the game, this financial education book offers invaluable insights and practical advice for navigating the complexities of the market.

A Random Walk Down Wall Street

By burton g. malkiel.

A Random Walk Down Wall Street by Burton G. Malkiel is a classic book on financial education that takes readers on a fascinating journey through the world of investing. Malkiel challenges the traditional methods of stock picking and market timing, advocating instead for a passive investment strategy. Through engaging anecdotes and comprehensive research, he argues that the market is efficient and that it is nearly impossible to consistently outperform it. This timeless book about financial education provides valuable insights into the complexities of the stock market, offering readers a solid foundation for making informed investment decisions. Whether you’re a seasoned investor or just starting out, A Random Walk Down Wall Street is an essential read for anyone looking to enhance their understanding of the financial world.

The Millionaire Next Door

By thomas j. stanley and william d. danko.

The Millionaire Next Door is a book on financial education that challenges the common perception of wealth and success. Authors Thomas J. Stanley and William D. Danko present their findings after researching the habits and lifestyles of millionaires in America. They reveal that the majority of millionaires are not flashy spenders living in luxury, but rather frugal individuals who live below their means. The book provides valuable insights into the traits and behaviors that contribute to financial success, emphasizing the importance of budgeting, saving, and investing. Through real-life examples and practical advice, the authors demonstrate how anyone can achieve financial independence by adopting the mindset and practices of the ‘millionaire next door.’ This eye-opening financial education book offers a fresh perspective on wealth-building and is a must-read for anyone seeking to improve their financial literacy.

Think and Grow Rich

By napoleon hill.

Think and Grow Rich by Napoleon Hill is a classic book on financial education that has inspired millions of people to achieve success. Hill shares the secrets of the most successful people in history, distilling their wisdom into practical steps that anyone can follow. The book emphasizes the power of mindset, belief, and persistence in achieving wealth and success. Hill’s timeless principles, such as the importance of setting clear goals and taking consistent action, continue to be relevant in today’s fast-paced world. Whether you’re an entrepreneur, a professional, or someone looking to improve their financial situation, this financial education book will provide you with the tools and motivation to reach your goals. Think and Grow Rich is a must-read for anyone seeking to unlock their potential and create a life of abundance.

The Little Book of Common Sense Investing

By john c. bogle.

The Little Book of Common Sense Investing by John C. Bogle is a must-read for anyone looking to gain a solid understanding of investing. This book on financial education presents Bogle’s time-tested investment principles in a clear and straightforward manner, making it accessible for beginners and experienced investors alike. Bogle, the founder of Vanguard Group and a pioneer in the investment industry, emphasizes the importance of low-cost index funds and the power of long-term investing. He debunks common myths and provides practical advice on how to build a successful investment portfolio. The book about financial education also addresses the impact of fees and taxes on investment returns, empowering readers to make informed decisions about their financial future. Whether you’re new to investing or seeking to refine your strategy, this financial education book offers valuable insights that can help you achieve your long-term financial goals.

The Richest Man in Babylon

By george s. clason.

The Richest Man in Babylon by George S. Clason is a classic book on financial education that offers timeless wisdom on managing money and building wealth. Set in ancient Babylon, the book presents a collection of parables and stories that provide practical lessons on personal finance, saving, investing, and achieving financial success. Through engaging tales of merchants, farmers, and chariot builders, the author imparts valuable principles such as living below your means, paying yourself first, and making wise investment decisions. The book’s straightforward and easy-to-understand advice makes it a must-read for anyone seeking to improve their financial literacy and achieve financial independence. Whether you’re a beginner or seasoned in the world of finance, The Richest Man in Babylon offers invaluable insights that will empower you to take control of your financial future.

The Four Pillars of Investing

By william j. bernstein.

The Four Pillars of Investing by William J. Bernstein is a comprehensive book on financial education that provides readers with a solid foundation for understanding and navigating the world of investing. Bernstein presents the four pillars of successful investing: theory, history, psychology, and business. He emphasizes the importance of diversification, asset allocation, and the impact of human behavior on investment decisions. This financial education book is a valuable resource for both novice and experienced investors, offering practical advice and insight into creating a well-balanced investment portfolio. Bernstein’s clear and engaging writing style makes complex financial concepts accessible to all readers, making this book an essential read for anyone looking to improve their financial literacy and make informed investment decisions.

The Bogleheads’ Guide to Investing

By taylor larimore, mel lindauer, and michael leboeuf.

The Bogleheads’ Guide to Investing is a comprehensive and practical book on financial education that provides readers with invaluable insights on how to build and maintain a successful investment portfolio. Authored by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf, this book offers timeless advice on investing, retirement planning, and wealth management. The authors, who are seasoned investors themselves, draw on the wisdom of John C. Bogle, the founder of Vanguard Group and a pioneer in index investing, to deliver a straightforward and easy-to-understand guide for investors of all levels. With its emphasis on low-cost, long-term investing strategies, The Bogleheads’ Guide to Investing is a must-read for anyone seeking to gain a deeper understanding of how to achieve financial security and success in the stock market.

The Essays of Warren Buffett

By warren buffett and lawrence a. cunningham.

The Essays of Warren Buffett is a must-read for anyone seeking to enhance their knowledge of investing and wealth management. This timeless book on financial education compiles the wisdom of one of the most successful investors of all time, Warren Buffett. Co-authored by Lawrence A. Cunningham, the book offers a collection of Buffett’s thought-provoking essays on a wide range of topics related to investing, business, and life. Through his straightforward and insightful writing style, Buffett shares valuable lessons on how to approach financial decisions with a long-term mindset and a focus on value investing. Whether you’re a seasoned investor or just beginning to explore the world of finance, this financial education book provides invaluable insights that can help you make more informed and successful investment choices.

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The Total Money Makeover

By dave ramsey.

The Total Money Makeover by Dave Ramsey is a popular book on financial education that offers a step-by-step guide to getting out of debt and achieving financial freedom. Ramsey presents practical advice and strategies for managing money, eliminating debt, and building wealth. The book provides a clear plan for taking control of one’s finances and offers actionable steps for creating a solid financial foundation. With a no-nonsense approach and real-life examples, The Total Money Makeover is a valuable resource for anyone looking to improve their financial situation and gain a better understanding of money management. Whether you are struggling with debt or simply want to take your financial education to the next level, this book about financial education is a must-read.

The Big Short

By michael lewis.

The Big Short by Michael Lewis is a captivating and eye-opening book on financial education. Lewis takes readers on a journey through the 2008 financial crisis, following a group of investors who foresaw the impending collapse of the housing market and bet against it. With his signature storytelling style, Lewis delves into the complexities of the financial world, making it accessible and engaging for readers of all backgrounds. The book offers a fascinating insight into the inner workings of Wall Street and the factors that led to the economic meltdown, while also shedding light on the individuals who profited from the crisis. The Big Short is a must-read for anyone interested in understanding the intricacies of the financial system and the importance of financial education in today’s world.

The Wealthy Barber

By david chilton.

The Wealthy Barber by David Chilton is a popular book on financial education. It follows the story of three young adults who seek advice from their local barber on how to achieve financial success. The barber shares timeless wisdom on budgeting, saving, investing, and building wealth. Through engaging storytelling and practical advice, Chilton breaks down complex financial concepts into easy-to-understand lessons. The book emphasizes the importance of starting early, living below your means, and making smart investment choices. It’s a must-read for anyone looking to improve their financial literacy and make sound money decisions. The Wealthy Barber is not just a book about financial education; it’s a roadmap to financial freedom and security for readers of all ages.

The Little Book of Value Investing

By christopher h. browne.

The Little Book of Value Investing by Christopher H. Browne is a valuable resource for anyone interested in learning about the principles of value investing. This engaging book on financial education provides readers with a comprehensive overview of the key strategies and techniques used by successful value investors. Browne’s straightforward approach and easy-to-understand language make this financial education book a must-read for beginners and experienced investors alike. By delving into the concepts of intrinsic value, margin of safety, and market psychology, Browne offers practical advice on how to identify undervalued stocks and build a successful long-term investment portfolio. Whether you’re looking to enhance your financial literacy or improve your investment strategies, The Little Book of Value Investing is an essential addition to any investor’s library.

The Only Investment Guide You’ll Ever Need

By andrew tobias.

The Only Investment Guide You’ll Ever Need by Andrew Tobias is a comprehensive and engaging book on financial education. With humor and practical advice, Tobias breaks down complex financial concepts into easily digestible information for readers of all levels of financial literacy. The book covers a wide range of topics including saving, investing, retirement planning, and taxes, providing readers with the tools and knowledge to make informed decisions about their finances. Whether you’re a beginner looking to learn the basics of investing or a seasoned investor seeking to fine-tune your financial strategy, this book about financial education is a valuable resource that empowers readers to take control of their financial future. With its timeless wisdom and straightforward approach, The Only Investment Guide You’ll Ever Need is an essential read for anyone interested in mastering the principles of financial education.

The Coffeehouse Investor

By bill schultheis.

The Coffeehouse Investor by Bill Schultheis is a straightforward and engaging financial education book that simplifies the complexities of investing. Schultheis presents his investment philosophy through the metaphor of a coffeehouse, advocating for a low-stress, long-term approach to building wealth. He emphasizes the importance of diversification, low costs, and discipline, making it accessible to readers of all levels of financial literacy. The book offers practical advice on how to create a well-balanced portfolio and achieve financial security without getting caught up in the noise of the market. Schultheis’ conversational tone and relatable examples make this book about financial education a must-read for anyone looking to gain a better understanding of investing and take control of their financial future.

The Automatic Millionaire

By david bach.

The Automatic Millionaire by David Bach is a popular book on financial education that offers simple and practical advice on how to achieve wealth and financial security. Bach introduces the concept of “paying yourself first,” where you automate your savings and investments so that you can build wealth without even thinking about it. The book provides a step-by-step plan for anyone to follow, regardless of their income level or financial knowledge. Bach’s approach is easy to understand and implement, making it a valuable resource for anyone looking to improve their financial situation. Whether you’re just starting on your financial education journey or looking to take your wealth-building to the next level, The Automatic Millionaire is a must-read.

I Will Teach You to Be Rich

By ramit sethi.

I Will Teach You to Be Rich by Ramit Sethi is a practical and no-nonsense guide to personal finance. In this insightful financial education book, Sethi breaks down complex money concepts into easy-to-understand language, offering step-by-step advice on how to manage your finances, invest wisely, and build wealth. He emphasizes the importance of automating your finances, negotiating better deals, and focusing on big wins rather than cutting back on small expenses. With a blend of humor and tough love, Sethi challenges readers to take control of their financial future and make smart decisions that will lead to long-term success. Whether you’re a recent college graduate or a seasoned professional, this book about financial education is a must-read for anyone who wants to achieve financial freedom.

The Money Book for the Young, Fabulous & Broke

By suze orman.

The Money Book for the Young, Fabulous & Broke by Suze Orman is a must-read financial education book for anyone navigating the challenges of early adulthood. With a friendly and relatable tone, Orman provides practical advice on managing money, paying off debt, and building a solid financial foundation. She addresses common financial concerns such as student loans, credit card debt, and saving for the future, offering actionable steps and valuable insights. Orman’s expertise and straightforward approach make this book about financial education a valuable resource for young adults looking to take control of their finances and make smart financial decisions. Whether you’re just starting out in your career or feeling overwhelmed by money matters, The Money Book for the Young, Fabulous & Broke is a comprehensive guide that empowers readers to achieve financial stability and success.

by Robert T. Kiyosaki

Rich Dad Poor Dad by Robert T. Kiyosaki is a renowned financial education book that challenges traditional beliefs about money and investing. The author shares his personal experiences growing up with two influential father figures: his own dad, who followed the conventional path of working hard for a steady paycheck, and the father of his best friend, who believed in the power of entrepreneurship and investing.

Through these contrasting perspectives, Kiyosaki imparts valuable lessons on building wealth, creating passive income, and cultivating a mindset for success. The book emphasizes the importance of financial literacy and making informed decisions about money, assets, and liabilities. Kiyosaki’s engaging storytelling and practical advice make Rich Dad Poor Dad a timeless classic that continues to inspire readers to take control of their financial futures.

Financial Education is crucial for everyone, and these 20 best books about financial education provide valuable insights and practical advice for managing personal finances. Whether you are just starting to learn about financial literacy or looking to deepen your understanding, these books offer a wealth of knowledge to help you make informed decisions and achieve financial success. From budgeting and investing to understanding the economy, these books cover a wide range of topics to empower readers with the tools they need to secure their financial future.

Which Financial Education book is best?

The best book on Financial Education can vary with personal preference, but three widely recommended titles are:

• Rich Dad Poor Dad by Robert Kiyosaki ,
• The Intelligent Investor by Benjamin Graham ,
• A Random Walk Down Wall Street by Burton G. Malkiel .

Each offers valuable insights and could be a great starting point.

What are the best books to learn about Financial Education?

For those looking to learn about Financial Education, there is a wealth of literature that can provide a comprehensive understanding of the subject. Some of the most highly recommended books include:

• A Random Walk Down Wall Street by Burton G. Malkiel ,
• The Millionaire Next Door by Thomas J. Stanley and William D. Danko ,
• Think and Grow Rich by Napoleon Hill ,
• The Little Book of Common Sense Investing by John C. Bogle ,
• The Richest Man in Babylon by George S. Clason ,
• The Four Pillars of Investing by William J. Bernstein ,
• The Bogleheads’ Guide to Investing by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf ,
• The Essays of Warren Buffett by Warren Buffett and Lawrence A. Cunningham

These books offer a range of perspectives on Financial Education, covering various aspects and approaches to the subject.

What are the best books on Financial Education?

The best books on Financial Education include:

• The Total Money Makeover by Dave Ramsey ,
• The Big Short by Michael Lewis ,
• The Little Book of Common Sense Investing by John C. Bogle .

Each offers unique insights into the subject. While these books on the topic of Financial Education are highly regarded, it’s important to note that any list of ‘best’ books is subjective and reflects a range of opinions.

What are the best Financial Education books of all time?

Choosing the best Financial Education books of all time can vary depending on who you ask, but seven titles that are often celebrated include

• The Essays of Warren Buffett by Warren Buffett and Lawrence A. Cunningham ,
• and The Total Money Makeover by Dave Ramsey .

Each of these books has made a significant impact in the field of Financial Education and continues to be influential today.

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The 10 Best Personal Finance Books

Get your money on track with our picks

Personal finance books help you manage your money better. At the most basic level, you can learn personal finance basics—like why paying yourself first pays off or how to manage and pay off debt—so you'll become smarter and more confident with handling your money. But it doesn't stop there. They can also teach you how to invest, manage a mortgage, create a nest egg, save for retirement, and ultimately help you overcome common money pitfalls. Sure, it’s not light reading, but your wallet—and your investment portfolio —will thank you.

Here are our picks of the best personal finance books to help foster a healthy relationship with your money.

Key Takeaways

• Our choice for best overall personal finance book is “Why Didn’t They Teach Me This in School?” by Carey Siegel.
• “The Total Money Makeover” by Dave Ramsey gets our nod as the best choice for debt management.
• The best memoir on our list is “Rich Dad Poor Dad" by Robert Kiyosaki.
• Our top choice for millennials is “Broke Millennial” by Erin Lowry.

Best Overall: Why Didn’t They Teach Me This in School?

Courtesy of Amazon

Ask anyone what they wish they’d learned more about in school, and the answer is likely money. More specifically, how to properly handle one’s finances—enter Cary Siegel’s title, “Why Didn’t They Teach Me This in School?” Siegel, a retired business executive, divides the book into 99 principles and eight money lessons that you should have learned by high school or college but didn’t. This book was initially intended for his five children when he realized they didn’t learn important personal finance principles before entering the real world, but it grew into a well-reviewed read full of money lessons, as well as firsthand experience and advice from Siegel. This easy-to-read book is ideal for new grads or anyone looking to start their personal finance journey on the right foot.

Best Memoir: Rich Dad Poor Dad

You’ve probably heard of Robert Kiyosaki’s “Rich Dad Poor Dad," but there’s a reason it’s stuck around for more than two decades. In one of the most popular personal finance books of all time, Kiyosaki shares what he learned growing up from his father and his friend’s father, the latter of which is the “rich dad” in the title. Those lessons include how you don’t need to make a lot of money to get rich and how to think about assets and liabilities . He also explains to parents why schools won’t teach their kids what they need to know about personal finance. This 20th-anniversary edition includes an update from the author on all things money, the economy, and investing.

Best for Debt Management: The Total Money Makeover

Debt management plays a major role in the state of your personal finances. Need a little help in that area? Take a look at Dave Ramsey’s “The Total Money Makeover.” This New York Times bestseller explains, without mincing words, how to get out of debt and improve your financial picture by avoiding common pitfalls like rent-to-own, cash advances, or using credit. It also offers solid advice on starting an emergency fund, saving for college and retirement, and how to succeed at Ramsey’s famed “Snowball Method” for debt payoff.

Best for Building Wealth: The Automatic Millionaire

Who doesn’t want to be a millionaire? David Bach’s “The Automatic Millionaire,” a New York Times, USA Today, Bloomberg Businessweek, and Wall Street Journal business bestseller, shows you how to do just that. The book kicks off with the story of a couple earning about $55,000 combined annually, and how they achieved their financial dreams. Think: owning two homes, putting their children through college, and retiring at 55 with a $1 million retirement nest egg. The secret? Setting up a financial system that not only pays yourself first but one that is automatic. Bach has also written "Smart Women Finish Rich," "Smart Couples Finish Rich," and "Start Late, Finish Rich."

Related: The Best Investing Books

Best for Beginners: Broke Millennial

If you can decipher #GYFLT, then this is the personal finance book for you. (Hint: #GYFLT stands for “get your financial life together” in social media speak.) Erin Lowry’s “Broke Millennial” explains in her signature conversational style how 20- and 30-somethings can get in control of their personal finances. From understanding your relationship with money to managing student loans to sharing the details of your finances with a partner, this book covers the biggest money challenges facing millennials today. 

Related: The Best Investing Books for Beginners

Runner-Up, Best for Beginners: The One-Page Financial Plan

Courtesy of Walmart

Confused when it comes to your money, whether it’s how to properly invest or how to deal with unexpected financial challenges? Carl Richards’ “The One-Page Financial Plan” takes the mystery out of how to effectively manage your finances. This book helps you not only figure out what your financial goals are, but also how to get there in a simple, one-page plan. Richards is a Certified Financial Planner and a columnist for The New York Times. 

Best for Spenders: I Will Teach You to Be Rich

Being rich isn’t about not spending money at all. In "I Will Teach You to Be Rich," a New York Times and Wall Street Journal bestseller, financial expert Ramit Sethi explains that you can spend your money guilt-free as long as you have it invested and allocated properly. This title talks about how to deal with all the common money pitfalls, from paying off student loans to how to save every month, and even how to talk your way out of late fees. This 10th-anniversary edition includes updated views on technology, money, and psychology, as well as some success stories of readers who have actually gotten rich from reading—you guessed it—Sethi’s book.

Best for Women: Clever Girl Finance

Women still earn just 83 cents to a man’s dollar, and average earnings are even lower for women who are older or belong to certain race and ethnicity groups, according to the U.S. Department of Labor. In short, women still have to work harder when it comes to their money. Bola Sokunbi’s “Clever Girl Finance” aims to empower and educate a whole new generation of women, sounding off on things like how to keep an eye on expenses, create and stick to a budget, manage your credit, build a nest egg, and take responsibility for your own financial well-being. Sokunbi is a Certified Financial Education Instructor (CFEI) and the founder and CEO of the website Clever Girl Finance.

Best Psychology: The Psychology of Money

This read is an interesting delve into the psychology of money and how your ego, preconceived notions, and even your pride can affect your decisions around money. As expected, this isn’t exactly the best way to manage your investment portfolio, and Morgan Housel’s “The Psychology of Money'' gives readers tips and tools for combating these biases in the form of 19 short stories that focus on the same topic. Housel is a partner at The Collaborative Fund and has worked as a columnist at The Wall Street Journal.

Related: The Best Economics Books

Best for Budgeting: Your Money or Your Life

With more than a million copies sold, Vicki Robin’s “Your Money or Your Life” lays out an easy-to-follow, nine-step plan to help readers change their relationship with money. Whether it’s how to get out of debt, get started investing , build wealth, or even save money by practicing Robin’s signature mindfulness technique, this read has you covered.

Final Verdict

Whether you're new to finances or just looking for more financial advice, the top overall personal finance book is "Why Didn't They Teach Me This In School?" by Cary Siegel ( view at Amazon ). It teaches eight important money lessons you should've learned by high school as well as a whopping 99 principles that will help you save, invest, and build your wealth.

Different methods might be best for different people. For example, many computer programs can help track income and expenses, and they even can be connected to your financial accounts to automatically import data. Others might want to handle the process manually. Regardless, the important thing to do is to set a budget so you can know exactly where you stand with your finances.

Be as detailed as possible when managing your personal finances . Sticking to a budget, paying down debt, and knowing exactly where every dollar is going can help make it possible to increase your savings. Having the details to find that extra $10 or $20 per week or month that you can save or invest today can add up to thousands of dollars years from now.

Budgeting is a big part of financial planning . To be successful, it is important to account for everything necessary to financial health. In addition to simply knowing your income and expenses, you have to think about where you will be in the future with income and expenses. Insurance, a good investment plan, and more can help you with expected and unexpected expenses that may arise.

Meet the Expert

Rachel Morgan Cautero has a master's degree in journalism from New York University and more than a decade of journalism experience, most in the personal finance sector. Most recently, she was the managing editor of DailyWorth, a finance-based media destination for women. She’s been published in SmartAsset, The Balance, The Atlantic, Life & Money, Parents, WealthRocket, and Yahoo Finance.

Department of Labor. " Usual Weekly Earnings of Wage and Salary Workers ."

Top 5 Financial Literacy Books for Future Success

Financial literacy is an important part of creating the future you want. How do wealthy people spend and save their money? To support financial understanding, our CFO, John Witty and I created a list of the top 5 financial literacy books for future success.

How Do We Choose Our Book Reviews?

Forbes Books only accepts manuscripts that represent the best of each industry. Even though we only have five authors highlighted here, I wanted to keep this review to the books I’ve read or listened to as an audiobook.

I chose these five books because I was looking for tangible information that readers could use immediately after reading.

The criteria was based on books with:

• Actionable plans
• Proven methodologies with evidence to support the author’s claims
• Strategies used to be successful

Infinity Investing

In his own words, Toby Mathis declares this book to be “ about making money no matter what the market is doing and for an infinite period of time .”

Many of us invest with stocks and bonds and try to time the market fluctuations, known as Bear and Bull markets.

Toby explains trying to trade with professionals with over 20-30 years of experience is like thinking you can beat LeBron James in a game of 1-on-1 basketball.

There’s a chance we can win sometimes, but the likelihood of success against the best traders on the planet resembles our odds of beating LeBron James in basketball.

How Does Infinity Investing Help Me With Finances?

Toby does a great job of explaining the history of the market, why things are the way they are in financial markets, and how to calculate and measure an income spreadsheet to build an infinity investing plan .

In chapter 13, Toby outlines a 90-day plan for continuous financial growth. He does a great job of explaining his plan throughout the chapter, showing the readers how to implement proven strategies from the top 2% of earners.

Financially Free

Ande Frazier is a financial planner, life-coach, and strategist that has created a unique method for her clients. Although this book was written with women in mind, I found it to be one of the few financial planning books I’ve ever read that discuss personality traits as a base for financial planning.

How Does Financially Free Help Me With Finances?

Often, we get stuck in the quantitative data points in our finances, instead of the qualitative points. For example, instead of thinking about your financial goals with only numbers, it’s better to plan with your life goals as the central focus.

Ande makes the premise of her book more about understanding our personal connection to money, rather than a “how-to guide” on financial literacy. Another brilliant piece of advice I took from Financially Free is how to make sound financial decisions, absent of emotions.

When my wife and I were house-hunting, we lost out on around 20-30 homes because our competitors were paying cash and forgoing house inspections.

Our emotions were so high each time we made an offer and so low each time we lost out on the house. Due to this, we actively discussed spending our life savings and foregoing house inspections so we could have a house to grow our family in.

Ironically, I thought of this book and how to take a step back from emotional spending and the dopamine surge we get with high dollar spending.

Gain Big and Give Back

Gain Big and Give Back is a must read for anyone who has done well for themselves and wants to navigate success. For example, when my brother finally became a medical doctor, he had relatives from all over the country call him for the first time in decades (or ever).

As he earned more money, he knew he had to have genuine conversations with family and set boundaries, but didn’t know how.

Patrick Rush does a great job of walking that line and explaining how to give back in the most meaningful way to you, instead of giving to all the surrounding people.

How Does Gain Big and Give Back Help Me With Finances?

After my short teaching career, I learned a valuable lesson that Patrick emphasizes in this book; use money as a means to an end, not the end all be all. Sometimes, it’s easy to listen to friends, family, and market traders on how to invest — especially if you have a more expendable income.

Patrick recommends sticking to the fundamentals of investing, such as diversification. For example, Patrick only recommends investing only 10% into one company , just in case they fail.

Monkey, Money, Mind

Monkey, Money, Mind is about finding balance in financial planning by understanding how your state of mind and intellect play into your plan. In contrast to financial literacy books that focus on the future, Chris Zadeh and Angelique Schouten focus on the present.

Along with Financially Free , Monkey, Money, Mind does a great job explaining how buying on emotion or external influences can lead to financial ruin.

How Does Monkey Money Mind Help Me With Finances?

Sometimes it can be easy to focus on distant financial goals. While writing your future goals is an important strategy, Chris and Angelique focus on developing skills to spend and save money in the now.

One stat that stood out more than any other is the difference between those of us with financial literacy and those without financial literacy . According to the Dutch Central bank, the disparity between people with and without an understanding of finances is $90,878.  

Wiser Investing

Money, Monkey, Mind and Financially Free really helped me think about how my personality, emotions, and aspirations affect the way I save and spend my money. Wiser Investments is more technical with peer-reviewed and empirical data on how to invest.

For example, my big takeaway from Wiser Investing was the importance of diversification, but also how to diversify. The graph below is from Figure 2.4 in the book and shows how well portfolio risk is correlated with the number of assets.

How Does Wiser Investing Help Me With Finances?

When I first started investing, I thought being diversified meant investing in different markets, such as energy, medical, commercial, and real estate. However, I was completely wrong, and it took Ben Halliburton to show me what diversification means.

In the graph above, Halliburton suggests six assets to invest in as the golden number. However, I think six assets are incredibly tough to track and maintain. I have four assets this book helped me distinguish, including gold, artwork, land bonds, and – of course – the money market.

I recommend this book for anyone wanting to understand how assets work within each market and how to create a unique portfolio that reflects your state of mind and personality.

Final Thoughts

Financial literacy can be the difference between living paycheck to paycheck and living your best life. While five books cannot give you everything you need to know about finance, it’s a great starting point to literacy. I encourage you to supplement your knowledge with the Forbes Books Audio podcast library for more on these and other personal finance topics.

What is Financial Literacy?

Financial Literacy is the ability to understand the basic components of financial management . Knowing how to operate a personal budget will help you manage your money responsibly. Achieving financial literacy will also help you determine how to invest your money.

All of our highlighted authors agree you must learn to invest your money to let it work for you. It’s one thing to work hard and spend a lot of hours to increase your funds. It’s another when you can invest responsibly and earn money while you’re sleeping.

How to gain financial literacy?

After reading these 5 books , I’ve learned that if I can follow some basic steps, I can be successful.

Create a spreadsheet of your income and expenses . Like Annemarie van Gaal states in Money, Monkey, Mind (pg. 31), “ A financially carefree life is only possible when you understand your income and expenses .”

1.Set financial goals and create a plan to achieve them.

2. Identify your purpose for each financial goal. Toby Mathis makes a brilliant point when he writes, “ Choosing a dollar amount—a financial goal—without purpose can lead to a devastating fall ”.

3. Think about why you’re saving money , do you want to buy your dream home on a tropical beach? A mountain home in the Rockies? Or have enough to leave for your future generations? Regardless of your financial purpose, it’s vital to your success to know why you’re trying to achieve financial goals.

4.  Set aside money for emergencies . It’s hard to save money when you’re not making much, but you have to find a way to save for emergencies.

One thing you’ll learn from these authors is that savings for your future and emergencies are different. You should have three months of earnings set aside for any medical, mechanical, or home emergency.

5. Don’t borrow money unless you really need it! If you’re trying to establish your credit line, getting a bank loan for a new car is a fantastic idea. However, if you’re already established, you shouldn’t get a loan unless you can’t afford to pay upfront.

Most importantly, never get a loan that you can’t reasonably afford. If you know it will be too difficult to pay it off on time, then find another way to pay for the item.

6. The golden rule of finance is simple, yet difficult for most of us to achieve; spend less than you earn .

7. Question Each Purchase . Before you buy a new iPhone every year or a new car every few years, think about it first. For example, ask yourself, “do I need this item?” If you don’t need the item, chances are you could go without it.

In Money, Monkey, Mind , Chris Zadeh and Angelique Schouten do a great job of explaining how to avoid buying with your emotions. They’ll teach you how to be a more responsible consumer, while still enjoying your life.

8. Learn about taxes related to your bracket and if there are any breaks or exemptions, you qualify for.

9. Learn about investments , such as stocks, IRAs (Roth IRA), real estate, and Commodities. Infinity Investing is a fantastic guide to understanding which investments are best for your specific situation.

10. Monitor your security . Set alerts on all of your bank accounts for spending and withdrawals.

I recently had someone take $20,000 from my savings account, but luckily, my phone woke me up at 3:00 AM. I then reported it to my bank in time for them to cancel the charges before they went through. Setting alerts on all your accounts will help you keep the money you work so hard to earn.

What are the advantages of financial literacy education?

One of Forbes Books’ primary missions is to help share our authors’ expertise to share with the world. We’d love to help our authors inspire change around the world by providing expert advice on matters of business. Here are a few advantages you’ll gain by reading Infinity Investing , Money , Monkey , Mind , Gain Big and Give Back , and Financially Free .

1. Avoid making irreversible Financial mistakes

Simply knowing the difference between a Roth IRA and Traditional IRA could be the difference between thousands in taxes in retirement. Too many of us have made embarrassing mistakes in our 20s that we’d do anything to have back. The more understanding you have with your money, the higher chance you won’t make these devastating mistakes.

2. Map Out Your Financial Future

By understanding how to create a personal financial plan , you can map out your financial future. By monitoring and tracking your spending, you can determine how much you need to save to reach your financial goals. Learning where, when, and how much to invest versus putting into savings accounts is a fantastic first step to investing.

3. Builds Confidence

How many of you felt confident when you signed the contract for your first home, car, or apartment? Being financially literate will help you stay confident when making major life purchases. Too many people make purchases they can’t afford, based on emotion, desire, pride, and many other factors.

Understanding your budget and staying within it will get you much further in life than buying off of emotion.

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August 28, 2023

10 of the Best Financial Literacy Books You Won’t Want to Miss

Navigating the world of finance and investment is hard. Thankfully, there’s a treasure trove of resources out there to guide us, and some of the best tools are books. The best books on financial literacy are filled with more than complex jargon and hard-to-follow advice. 

Think about it: the choices we make with our money today can shape our futures for years to come. But how do we ensure we’re making the right decisions? How do we save money effectively and plan our investments wisely? 

That’s where practical advice from financial experts comes in. Through their insights, we can learn to navigate the choppy waters of personal finance with confidence.

To achieve financial freedom and security, it’s essential to be financially literate. It’s not just about knowing the difference between stocks and bonds or understanding how a mortgage works. It’s about cultivating a mindset that prioritizes smart financial choices in all areas of life. This means understanding how to budget, avoid debt, invest wisely, and set yourself up for a comfortable future.

We’ve compiled a list of some of the most influential texts on financial literacy. These books are packed with strategies, tips, and wisdom that can help anyone become more informed and empowered with their money. 

Let’s dive in.

This absolute classic of personal finance literature has been in publication nearly 100 years — and for good reason. Set against the backdrop of ancient Babylon, this captivating book weaves tales of ordinary people and their financial decisions. These stories offer timeless wisdom on wealth-building and financial discipline. 

The core of the narrative revolves around Arkad, the titular “richest man.” He shares the simple financial principles he follows to amass his wealth. The book teaches essential lessons such as living below one’s means, investing wisely, and seeking knowledgeable counsel.

This illustrative narrative stands as a cornerstone in personal financial literature. It presents a tale of two contrasting fathers—Poor Dad (Kiyosaki’s) and Rich Dad (his friend’s). The book delves into the differences in their beliefs and approaches toward money, work, and life. 

Poor Dad emphasizes traditional education and a stable job. Rich Dad, on the other hand, champions the importance of financial education, investments, and entrepreneurial ventures. 

Kiyosaki outlines how these varied perspectives influenced his understanding of assets and liabilities, ultimately shaping his net worth. Instead of relying on a fixed income, he underscores the significance of creating and acquiring assets that generate income. 

Moreover, the book sheds light on the intricacies of stock markets, real estate, and other investment avenues. It urges readers to think beyond the conventional rat race. 

Rich Dad Poor Dad ultimately emphasizes that a high income doesn’t necessarily equate to wealth. It’s what you do with that income that counts.

In Dave Ramsey’s The Total Money Makeover, readers are given a step-by-step plan to rectify their financial woes. It’s a comprehensive blueprint for transforming one’s monetary situation. 

It starts with the basics: creating an emergency fund and paying off debt. It then delves into more advanced topics, ensuring readers are well-equipped to build wealth and secure a stable future. The practical tools and actionable advice discussed are punctuated by success stories of individuals who have turned their financial lives around. 

The Total Money Makeover isn’t about quick fixes. It’s a journey to lasting financial health and independence.

In this text, Vicki Robin and Joe Dominguez offer a refreshing perspective on personal finance. Money, they say, isn’t just a tool for acquiring things. It’s the product of the life-energy you spend to earn it. 

This view encourages people to evaluate whether their job and the things they spend on truly add value to their lives. Robin and Dominguez lay out a comprehensive financial plan that goes beyond mere budgeting. Their nine-step program emphasizes frugality, reducing debt, and redefining what “enough” truly means in a consumption-driven world. 

The ultimate goal? Achieving financial independence and reclaiming one’s life from the clutches of mindless earning and spending. 

Thomas J. Stanley and William D. Danko shatter many popular myths surrounding millionaires in The Millionaire Next Door . As it turns out, the majority of wealthy individuals in the U.S. don’t live in upscale neighborhoods or drive flashy cars. 

Instead, they live modestly, often below their means, and prioritize saving over conspicuous consumption. The lesson is simple: true wealth isn’t about earning high incomes. It’s about making wise financial decisions and being frugal. 

Stanley and Danko discover rich people often share traits and behaviors. They live well below their means, allocate time and money efficiently, and value financial independence over social status. 

The authors argue that many people who appear rich might not actually have sustainable wealth. On the other hand, those living unassumingly might have substantial net worth. 

J.L. Collins presents a refreshing perspective on wealth accumulation in The Simple Path to Wealth . 

He advocates for the virtues of low-cost index funds because they outperform most actively managed funds in the long run. By keeping investment strategies simple and avoiding the pitfalls of complex financial products, one can steadily grow their wealth. 

The book also delves into the intricacies of taxes, debt, and retirement, offering readers a comprehensive yet easily digestible financial plan. 

John C. Bogle, the founder of Vanguard Group, has a simple message in The Little Book of Common Sense Investing. The simplest investment approach often yields the best results.

Low-cost index funds, he says, are more profitable than trying to beat the market or hiring a fund manager. They’re also less risky. 

Bogle proves his point by showcasing the compounding effects of active trading costs over time. He also critiques the mutual fund industry for its frequent disregard for the best interests of the individual investor. 

He ultimately encourages readers to adopt a long-term perspective and to prioritize simplicity and frugality in their investment decisions. 

Erin Lowry’s Broke Millennial is a practical roadmap for young adults eager to conquer their finances. Lowry delves into the financial challenges that many millennials face. She offers actionable advice tailored to a generation often criticized for its spending habits. 

Lowry also understands there’s no one-size-fits-all solution in personal finance. She emphasizes personal financial journeys, highlighting the importance of understanding one’s unique relationship with money.

She also breaks down complex financial topics into digestible tidbits. She covers everything millennials will find practical. From paying off student loans, to budgeting; navigating tricky financial conversations with friends to managing the intricacies of the gig economy.

Ramit Sethi’s I Will Teach You to Be Rich is a candid guide that dismisses the traditional notions of personal finance. It embraces a modern, more holistic approach to wealth. Unlike many financial guides that tout pinching pennies and forgoing lattes, Sethi emphasizes smart spending, automating finances, and investing in oneself.

Over the course of a 6-week program, Sethi takes readers through a transformative journey. It begins with credit cards, tackles student loans, and finally delves into investments and saving for big goals. 

Sethi’s ultimate point is one can lead a rich life today while also preparing for a financially secure future.

The book challenges readers to confront their financial behaviors and beliefs. Sethi’s approach to personal finance is both actionable and motivational. While it is tailored primarily for young adults, the strategies and principles discussed are universally applicable.

One of the standout features of I Will Teach You to Be Rich is its directness. Sethi doesn’t shy away from addressing the common excuses people make to avoid making key financial decisions. 

By the end, readers are equipped with more than knowledge. They have a plan to create their version of a rich life.

Benjamin Graham’s seminal work has earned its reputation as one of the foundational texts in the world of value investing. Since its original publication in 1949, the book has guided countless investors in the principles of value investing. This method focuses on buying stocks at less than their intrinsic value.

Graham explains that an investment should be approached with the same thoroughness as a business endeavor. He introduces the idea of “Mr. Market,” a fictional character representing the stock market’s manic-depressive nature. Investors, Graham suggests, should capitalize on Mr. Market’s mood swings rather than be ruled by them.

Much of the book is dedicated to teaching readers how to analyze stocks and bonds from a long-term perspective. Doing so requires thinking of stock as a stake in the company, rather than just a ticker symbol. 

This text requires a commitment to fully digest. However, the lessons within offer a roadmap for anyone looking to navigate the waters of investing with a calm and informed approach.

Embarking on a journey into the world of financial literacy can be both enlightening and empowering. These ten essential texts offer insights, strategies, and advice tailored to various stages and aspects of one’s financial journey. They provide not just theoretical knowledge, but practical tools to navigate the complex terrains of investing, saving, and financial planning.

As you delve into these reads, it’s important to remember that knowledge, while powerful, is most effective when coupled with action. These books arm you with the knowledge to make informed financial decisions. However, it’s the proactive steps you take afterwards that will truly shape your financial future. Financial planning, then, becomes the bridge between what you’ve learned and its real-world application.

A well-structured financial plan allows you to set tangible goals, chart out strategies to achieve them, and monitor your progress. Whether it’s early retirement, purchasing a dream home, or ensuring a comfortable life for your loved ones, a robust financial plan turns these aspirations into achievable milestones.

As you consume the invaluable information these books offer, consider complementing your newfound knowledge by delving into the realm of financial planning. It’s the natural next step that can unlock the true potential of what you’ve learned, ensuring that you don’t just become financially literate, but also financially astute and proactive. Remember, the journey to financial freedom is not just about understanding money—it’s about making it work for you in the most optimized way.

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18 Financial Literacy Books You Should Read in 2023

Now is a great time to brush up on your financial literacy with these 18 financial literacy books.

Whether you want to learn more about investing, savings plans , or just want to improve your financial security overall , these 18 popular financial literacy books will help you reach your financial goals , or at the very least, improve your understanding of topics that are not always taught in school or at home.

This list of popular financial literacy books comprises chart-topping hits, best sellers, and books by some of our favorite finance gurus. 

1.   The One-Page Financial Plan by Carl Richards

In this book, Richards explains that bad calls about money aren’t failures. Instead, they’re just what happens when emotional creatures have to make decisions about the future with limited information.

He goes on to explain that he feels it’s important to scrap striving for perfection. Instead, it advises committing to a process of guessing and making adjustments when things go off track.

Those who want to gain clarity about the big picture of finance in order to cope with the unexpected. 

2.   The Little Book That (Still) Beats The Market by Joel Greenblatt

In this expanded-upon version of the original book, Greenblatt explained how investors can outperform the popular market averages by simply and systematically applying a formula that seeks out good businesses when they are available at bargain prices.

Anyone who wants an anecdote-rich, easy-to-understand investing strategy.

3.   Rich Dad, Poor Dad by Robert T. Kiyosaki

Now 25 years old, this book has been updated to ensure that the information aligns with today’s society. Rich Dad Poor Dad is Kiyosaki’s story of growing up with two dads — his real father and the father of his best friend, his rich dad.

It details the ways in which both men shaped his thoughts about money and investing.

Those who want to make their current money and financial standing work for them.

4.   The Richest Man in Babylon by George S. Clason

The Richest Millennial in Babylon was written by a young professional, and provides 10 tiny habits to help readers get out of debt, build savings, and retire with financial freedom.

Anyone who wants a quick read that integrates short stories, step-by-step guides, and illustrations that keep the content engaging.

5.   Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry

With a refreshingly casual attitude, this is a great financial literacy book to pick up if finances scare you. With information like understanding your relationship with money and managing student loans without having a full-on panic attack, this provides a wealth of insight in an actionable and easily digestible way.

Millennials who want simple advice packed with funny stories that hit the nail on the head by sharing real world experiences we’ve all found ourselves in along with useful information on how to move forward from these situations.

6.   Clever Girl Finance by Bola Sokunbi

Check out this financial literacy book for guidance on ditching debt, saving money, and building real wealth.

Sokunbi, the force behind the hugely popular Clever Girl Finance website, draws on her personal money mistakes and financial redemption to educate and empower a new generation of women on their journey to financial freedom.

Women looking to learn real-world stories and advice from other “clever girls”.

7.   Get Good with Money: Ten Simple Steps to Becoming Financially Whole by Tiffany Aliche

Written by Tiffany Aliche who was a successful preschool teacher with a healthy nest egg when a recession. What’s more? Bad advice from a shady advisor put her out of a job and into a huge financial hole.

So she began to chart the path to her own financial rescue. The outline of her ten-step formula for attaining both financial security and peace of mind began to take shape. That was the framework for this financial literacy book,

Anyone who wants to cultivate good financial habits .

8.   The Intelligent Investor by Benjamin Graham

This book focuses on the concept of value investing. Value investing is a long-term investment strategy that involves buying stocks that are undervalued by the market and holding onto them until they reach their full potential.

Anyone looking to learn more about this approach to investing (value investing).

9.   Stop Acting Rich and Start Living Like a Millionaire by Thomas J. Stanley

This book explains the author’s thoughts about how the less affluent have fallen into the elite luxury brand trap that keeps them from acquiring wealth and details how to get out of it by emulating the working rich as opposed to the super elite.

Those looking for a defensive strategy for tough times.

10. I Will Teach You to Be Rich by Ramit Sethi

Personal finance expert Ramit Sethi has been called a “wealth wizard” by Forbes and the “new guru on the block” by Fortune. Now he’s updated and expanded his modern money classic for a new age, delivering a simple, powerful, no-BS 6-week program that just works.

Those looking for a six-week program to help you set up finances will adore this financial fix

11. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them by Antony Lewis

In addition to the money advice we’ve all grown up hearing, there’s a world of cryptocurrency to learn about!

This book provides a clear guide to this new currency and the revolutionary technology that powers it.

Those looking to get a better understanding of cryptocurrency and how it all works will love this introductory book.

12. The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel

The concept of this book is amazing because it talks about the reality of making financial decisions. It explores how people often make these decisions at the dinner table, or in a meeting room.

These are places where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.

Money is typically taught as a math-based field, where data and formulas tell us exactly what to do. The only problem? Most people don’t use that structure to make financial decisions.

Anyone looking to learn more about human behavior surrounding money and how it affects financial choices.

13. Your Money or Your Life by Vicki Robin and Joe Dominguez

This book has been around for over 15 years. It has been recognized as one of the top financial literacy books around.

This updated edition claims to ensure that its time-tested wisdom applies to people of all ages.

It covers modern topics like investing in index funds, managing revenue streams like side hustles and freelancing, and tracking your finances online. It even tackles the task of having difficult conversations about money.

Those looking for a step-by-step program to learn to live more deliberately and meaningfully will love this book.

14. Student Loan Solution: 5 Steps to Take Control of your Student Loans and Financial Life by David Carlson

According to US census data, over 17% of Americans (45 million) have student loan debt . Needless to say, this book is very relevant. It explains what student loan borrowers should be focusing on. He provides a 5-step approach to help you understand your loans, your options, and how to improve your greater financial life. The best part? You can do this all while paying down your student loan debt.

Anyone looking for tools to start your student loan repayments with a bang.

15. The Financial Diet: A Total Beginner’s Guide to Getting Good with Money by Chelsea Fagan

The Financial Diet is the self-proclaimed personal finance book for people who don’t care about personal finance. Are you in need of an overspending detox? Are you buried under student debt? Are you just trying to figure out how to live on an entry-level salary? Whatever you need, The Financial Diet gives you tools to make a budget, understand investments, and deal with your credit.

Those looking for a personal finance guide written in an approachable and helpful tone.

16. Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner

This New York Times bestseller guides millennials and Gen Z through the world of personal finance. It was so popular that it’s been completely revised and updated in the fourth edition of this book!

Those just starting out who are looking to learn how to decrease their debt, avoid common money mistakes, and navigate the world of personal finance in today’s ever-changing landscape.

17. Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live By by Cary Siegel

Is there anything that you resonate with more than the concept of “why didn’t they teach me this in school?”

This book hits on all the concepts we missed through the gaping holes in our education system.

It was initially developed by the author to pass on to his five children as they entered adulthood. Summed up as quick and easily digestible, this book is beneficial for anyone at any age.

This book is great for those interested in an easily digestible read that focuses more on the qualitative side than the quantitative side of personal money management.

18. Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love by Tori Dunlap

You might recognize Tori Dunlap as the social media star behind Her First $100K . This book covers everything from managing debt to investing and voting with your dollars.

It’s a great read for those who want a financial book with a feminist focus.

This book is great for women looking for a shame- and judgment-free approach to paying off debt . It helps readers learn how to spend mindfully. It also discusses how to save money without monk-like deprivation, and investing to spend your retirementTulum.

If you’re looking at this list of financial literacy books and feel like you still need some additional support, check out our list of 26 personal finance apps to help you make managing your finances more enjoyable !

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Best Financial Literacy Books: Empower Yourself With Money Skills

Some people talk about budgeting, investing and saving as if they were simple concepts for all, but the truth is, understanding money is no easy feat. What even is interest? The only interest I have is in watching cat videos.

Even though learning how to manage your money can be overwhelming to understand at first, it is a fundamental skill that can impact your life in the long term. Making informed financial decisions is key to achieving financial stability. But don’t panic just yet! The good news is that, like any other skill, financial literacy can be learned.

In this article, we’ll explore seven financial literacy books to help you take control of your finances. 

If you’re a beginner, these books can help you develop practical strategies for creating a budget, saving money and understanding the basics of investments. We’ll take it step by step, so don’t fret! And if you’re a bit more seasoned in the art of finances, we also have a few books that will give you a fresh perspective on money management.

Whether you have a little or a lot, understanding money is vital in this day and age, so let’s dive in.

Top Financial Literacy Books

Through practical advice and clear explanations, the authors of these books will empower you to take control of your own money and develop positive financial habits.

If you become hooked on this topic, we have an even more extensive list of books for in-depth knowledge. 

1. Financial Literacy for Teens  

By Chad Foster

With college just around the corner, your teenage years are an ideal time to start learning how to manage your finances, and Chad Foster knows it. This entrepreneur realized young people in America were not fully prepared for their entry into adult life, so he channeled all he learned throughout his career into Financial Literacy for Teens , a book that has been used in thousands of high school classrooms in America.

Financial Literacy for Teens explains how to save, spend, invest and give away money in an engaging writing style, which is very useful when dealing with a pretty dull topic like finances and especially convenient when you’re working with an already hard-to-engage group as teenagers.

This book emphasizes the importance of nurturing both knowledge and skill when it comes to finances. The trick is to present new concepts in a dynamic way that inspires children to take action , and Financial Literacy for Teens does it well.

Also, if you’re trying to introduce your children into the world of finances in a fun way, these apps may be a great place to start!

2. How to Money

By Jean Chatzky and Kathryn Tuggle

What better way to make a finance book more accessible than to turn it into a visual guide? How to Money is an illustrated guide written by financial experts Jean Chatzky and Kathryn Tuggle. The owners of the financial advice company HerMoney talk from experience. 

Written for young adults, including high school and college-aged students and graduates, this book teaches the ins and outs of creating a budget, navigating college loans and what to do with the money you earn in your first job. It provides actionable tips to help young adults with varying levels of financial literacy navigate financial challenges specific to them.

The world of finances is not as depersonalized as you may think. How to Money shows us this by featuring interviews with CEOs who share their financial journeys, what works and what doesn’t and their personal struggles. These conversations help put a face to every financial tip and trick the book offers.

Chatzky and Tuggle have created a straightforward guide to help young adults navigate the financial world . Money can be intimidating, but it doesn’t have to be. How to Money makes a great case for this idea.

3. Broke Millennial  

By Erin Lowry

It shouldn’t be hard to tell that Broke Millennial was written by a former broke millennial herself. That may be, perhaps, the secret to its success. Erin Lowry, author and personal finance expert, serves as a “financial translator” who explains complex topics, such as investing, in a casual and relatable way. 

Broke Millennial not only touches upon the classic “how to save, spend, invest” triad but also delves into tricky money situations that are not often discussed in the personal finance industry, like how to split the bill when you’re out with friends or how to talk about finances with a new partner.

This book is written by a millennial for millennials with little to no financial expertise. So, its youthful perspective makes it ideal for those trying to digest the complex financial world.

4. I Will Teach You To Be Rich

By Ramit Sethi

As the saying goes, “time is money,” and this book is all about that; it’s short and to the point. As someone who studied psychology, Ramit Sethi brings his psychological insight into I Will Teach You to Be Rich to create a straightforward guide with tangible information on how to manage your money.

This book offers a six-week program that presents the four pillars of personal finance—banking, saving, budgeting, and investing—for those with little finance background. It also introduces the concept of personal entrepreneurship.

Whether you’re in your 20s or 40s, Sethi understands that you have to start somewhere. He proposes that I Will Teach You to Be Rich is a good starting point for learning useful tips to automate your finances and become financially free.

5. Rich Dad Poor Dad

By Robert T. Kiyosaki

Even though it was written in 1997, Rich Dad Poor Dad has a timeless feel. It delves into the beliefs around money, the importance of developing a positive relationship with wealth and the constant motivation to work for yourself and not for others. That’s perhaps the reason why it has stood the test of time. 

Of course, Rich Dad Poor Dad encourages you to save your money, but it focuses more on building wealth through investing. For Robert Kiyosaki, an American businessman, the key to living a healthy financial life is prioritizing your financial education, increasing your “financial IQ” and investing in assets.

By contrasting two different financial mindsets of the “Poor Dad” and the “Rich Dad,” he shares enlightening concepts on money management and encourages people to become wealthier.

6. The Richest Man in Babylon

By George S. Clason

Talk about a classic! The Richest Man in Babylon was written in 1926, but the financial advice it provides remains relevant to this day. George S. Clason may not have known what a millennial was, but he knew how to create a timeless narrative. 

With beautiful storytelling, the author presents the fundamental principles of personal finance through a collection of parables set 4,000 years ago in ancient Babylon. Each chapter introduces a parable that illustrates a specific financial lesson. 

Apart from dealing with saving and investing, The Richest Man in Babylon focuses on the importance of financial discipline, a concept portrayed beautifully through the parables.

We believe this book’s core lessons transcend historical context, making it a true classic in the world of finance.

7. Budgeting 101

By Michele Cagan, CPA

Budgeting 101 is essentially a crash course in budgeting basics. Michele Cagan, a certified public accountant, offers her insights into personal finances and focuses on creating and sticking to a budget as well as minimizing taxes.

In true 101 series fashion, Budgeting 101 is an easy-to-understand guide divided into short sections (“divide and conquer,” they say, right?). It’s helpful, simple and concise. The goal, the book explains, is to achieve financial security , build lasting wealth and, of course, get rid of financial anxiety in the process!

Your Financial Future Is Not A Gamble!

As Francis Bacon once said, “Knowledge is power.” Financial literacy is a fundamental skill that can shape a considerable portion of your life. You don’t have to become an expert on finances, but we recommend you learn the basics.

The books in this article aim to make that process fun. Who said learning about finances has to be a dull task? From understanding budgeting to exploring investment strategies, the pages of these books are filled with step-by-step guides and practical advice to help you take control of your finances and not perish in the process.

We strongly encourage you to explore these financial literacy books to take control of your finances with confidence.

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• Best Personal Finance Books of 2024
• Importance of Personal Finance Literacy
• Benefits of Personal Finance Books
• Want to Read More?

Best Personal Finance Books to Read in 2024

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Introduction to the Best Personal Finance Books of 2024

• "Get Good with Money" by Tiffany "The Budgetnista" Aliche
• "Retire Before Mom & Dad" by Rob Berger
• "How I Invest My Money" by Joshua Brown and Brian Portnoy
• "The Simple Path to Wealth" by JL Collins
• "Financial Feminist: Overcoming the Patriarchy's Bullsh*t to Master Your Money and Build a Life You Love" by Tori Dunlap
• " Deeper Than Money: Ditch Money Shame, Build Wealth, and Feel Confident AF" by Chloe Elise
• "The Financial Diet: A Total Beginner's Guide to Getting Good with Money" by Chelsea Fagan and Lauren Ver Hage
• "Cultura and Cash: Lessons from the First Gen Mentor for Managing Finances and Cultural Expectations" by Giovanna González
• "Finance for the People: Getting a Grip on Your Finances" by Paco de Leon
• "Broke Millennial Takes On Investing " by Erin Lowry
• "The Money Manual: A Practical Money Guide to Help You Succeed on Your Financial Journey" by Tonya B. Rapley
• "The Poverty Paradox: Understanding Economic Hardship Amid American Prosperity" by Mark Robert Rank
• "Cashing Out: Win the Wealth Game by Walking Away" by Julien and Kiersten Saunders
• "I Will Teach You to be Rich" by Ramit Sethi
• "Spend Well, Live Rich" by Michelle Singletary
• "Clever Girl Finance: Learn How Investing Works, Grow Your Money" by Bola Sokunbi
• "The Millionaire Next Door" by Thomas J. Stanley
• "When She Makes More" by Farnoosh Torabi

Diving into a book can be a great way to learn more about personal finance. Business Insider's personal finance team put together a list of 18 of the top personal finance books for 2024. 

Our top picks cover a wide range of money topics. So whether you want to retire early , invest in the stock market, start conversations about money with your family, or just see money from a different point of view, we have options for you to discover.

Our list of must-read personal finance books includes our personal favorites and some with truly impressive Amazon reviews and ratings.

'Get Good With Money: Ten Simple Steps To Becoming Financially Whole,' by Tiffany 'The Budgetnista' Aliche

Tiffany Aliche, aka The Budgetnista, shares her own triumph over debt and financial hardships. "Get Good With Money" also includes worksheets to help you assess your financial wellness without shame or judgment. This book also covers a wide range of personal topics like how to build an emergency fund from how to improve your credit score.

• People who want to pay off debt
• People who like worksheets
• Young professionals

'Retire Before Mom and Dad,' by Rob Berger

For anyone considering early retirement through the FIRE (Financially Independent, Retire Early) movement , this book is a quintessential primer on the principles of getting started on this path. But, it also looks at principles that make financial independence and retirement attainable, even if retiring early isn't on your list.

• People who want to retire early
• People who want to build wealth

'How I Invest My Money,' by Joshua Brown and Brian Portnoy

If you've ever wondered how your financial advisor, a venture capitalist, or that money expert on the internet invests their money, Brian Portnoy and Joshua Brown have answers.

With pithy stories from 25 financial experts, this book advances on basic personal finance topics, giving readers ideas to implement as they take the next steps on their financial journeys.

It's not the best choice for anyone who's new to managing money, as it lacks enough explanation of the basics to be a stand-alone guide. But for readers who are ready to make new financial moves, this book will prove helpful.

• Strategies for how to save money , and build wealth
• People who are looking for inspiration to take the next step with their money

The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life,' by JL Collins

The principles of "The Simple Path to Wealth" were first laid out in a series of letters by the author to his daughter, and there's no shortage of accessible and actionable advice on investing throughout the book.

It takes on a light and casual tone in some chapters but doesn't shy away from explanations of more complicated topics, either, like the nuances of investing in a bear or bull market . It's the highest-rated personal finance book on the list, with over 3,800 Amazon reviews and an average rating of 4.8 stars.

'Financial Feminist: Overcoming the Patriarchy's Bullsh*t to Master Your Money and Build a Life You Love,' by Tori Dunlap

In "Financial Feminist," entrepreneur and author Tori Dunlap teaches women how to advocate for their worth and channel their emotions to make smart money decisions. Dunlap offers a financial game plan that helps you build a career you love.

• Socially conscious millennial women

'Deeper Than Money: Ditch Money Shame, Build Wealth, and Feel Confident AF' by Chloe Elise

In "'Deeper Than Money" Chloe Elise offers an approachable, insightful perspective on personal finance. Elise takes into account that everyone's situation is unique. It's important to build your own relationship with money rather than following set rules and guidelines. Elise shares moments from her own journey to show readers how they can adjust their mindset.

• Changing your money mindset and building confidence around money management
• Millennial women

'The Financial Diet: A Total Beginner's Guide to Getting Good with Money,' by Chelsea Fagan and Lauren Ver Hage

A great book for beginners, "The Financial Diet" lays a groundwork for anyone wanting to learn more about money and life. Best for young adults, Fagan dives into starting to invest and saving for retirement, as well as budgeting and debt repayment plans. The advice here is no-frills and easy to put into practice.

• Personal finance beginners

'Cultura and Cash: Lessons from the First Gen Mentor for Managing Finances and Cultural Expectations' by Giovanna González

Giovanna González acknowledges that cultural expectations and first-generation experiences can impact a person's money management in "Cultura and Cash." Latinx and first-generation readers can relate to a lot of the experiences González writes about — something you won't see in other personal finance books.

Ultimately, this book does a great job of teaching you how to embrace the best of two different cultural systems— the individualist nature of the U.S. and the family-oriented view of Latinx cultures — so you can learn how to manage your money.

• Women of color
• Latinx learning about personal finance
• First gen in the U.S.

'Finance for the People,' by Paco de Leon

In "Finance for the People," former financial planner Paco de Leon explains how to take personal responsibility for our personal finances despite inequities out of our control, while providing the necessary tools to help you build a strong financial foundation.

• Visual learners
• Socially conscious millennials and Gen Zers
• Holistic financial wellness advice

'Broke Millennial Takes On Investing: A Beginner's Guide To Leveling Up Your Money,' by Erin Lowry

"Broke Millennial" took the world by storm with great budgeting tips written specifically for avocado-toast-brunching millennials. Erin Lowry is back at it again with a practical, easy-to-read guide to investing. Packed with tips for beginners, "Broke Millennial Takes On Investing" will teach you how to navigate the market in alignment with your beliefs and values.

• Socially conscious investors

'The Money Manual' by Tonya B. Rapley

"The Money Manual" is a guidebook to the basics of managing money, from saving to building credit . Written by the blogger behind Myfabfinance.com, this book is both engaging and approachable, with money lessons that are applicable no matter how much you're earning.

This book is more interactive than most, with sections of questions and space for writing. The book starts with a simple money check-in, and from the beginning gives actionable advice that can help you understand where you are and where you want to go.

• Young adults and millennials
• Re-learning the basics of budgeting and saving
• Hands-on learners

'The Poverty Paradox: Understanding Economic Hardship Amid American Prosperity' by Mark Robert Rank

"The Poverty Paradox" is technically a social science book.  Still, it's a great book to read if you're learning about personal finance because it helps you realize how systems in the U.S. can create wealth inequality .

This may help you shift your money mindset because you'll gain a better understanding of how external factors contribute to poverty. Rank is an expert in this area, and shares research in the book to support each of his points.

• Understanding wealth inequality and poverty in the U.S.
• Shifting your money mindset

'Cashing Out: Win the Wealth Game by Walking Away,' by Julien and Kiersten Saunders

Early retirees Julien and Kiersten Saunders, founders of the award-winning blog rich®ULAR, outline the exact 15-year plan they used to retire in their 40s. "Cashing Out" walks readers through the process of building a lasting wealth-building plan without sacrificing too many small pleasures that keep you going.

• Anyone experiencing burnout in a high-stress job
• First-time investors

'I Will Teach You To Be Rich,' by Ramit Sethi

Personal finance author Ramit Sethi outlines a six-week plan for living out your "rich life" as you define it. "I Will Teach You to be Rich" by Ramit Sethi walks readers through how to use credit cards and maximize rewards, opening a high-yield savings account to earn interest, and even automating accounts to save with no effort every month. This easy-to-read and highly actionable book goes from reading to returns quickly.

• Making a plan
• Strategizing with your money
• Setting up systems to build wealth

'Spend Well, Live Rich: How to Get What You Want with the Money You Have,' by Michelle Singletary

Author Michelle Singletary reflects on her life with her grandmother, who raised five children (including the author) on a modest salary. Singletary looks into the principles that her grandmother used with her own finances to make the most of what she had. It's best for anyone wanting inspiration on making the most of the money they already have.

• Inspiration

'Clever Girl Finance,' by Bola Sokunbi

This easy-to-read guide to money doesn't make assumptions — it starts with the very basics of building wealth and builds on them. This book roots its lessons in reality with real-life anecdotes, including from the author herself.

It doesn't require any prior knowledge, either. It covers the basics of organizing money and how to budget , then explains the credit system, debt, investing, and even asking for a raise.

It's an excellent choice for anyone who is just getting started with personal finance, or simply wants a refresher on the basics.

• Anyone searching for a crash course on managing money and building wealth

'The Millionaire Next Door,' by Thomas J. Stanley

Thomas J. Stanley's profile of America's wealthy citizens finds that they're more similar than they are different, and they're not all the people you'd expect. Stanley looks at millionaires and finds seven habits that they have in common, including living below their means and rejecting traditional consumerism. Stanley's insights have earned this book over 5,300 five-star reviews.

'When She Makes More,' by Farnoosh Torabi

"When She Makes More" author and personal finance expert Farnoosh Torabi explores a reality she lives with every day: being a breadwinner and a woman in a different-sex relationship. She looks at the realities and the rules she's made with her partner, and discusses ways to maximize earnings and minimize conflict.

• Starting a conversation about money

The Importance of Personal Finance Literacy

If you're just starting your financial journey or struggling with certain aspects of managing your money, a personal finance book can be a great way to learn fundamental concepts.

For example, the best books on investing can help you learn the difference between a Roth IRA and Traditional IRA , as well as how to invest in the stock market.

Personal finance books for budgeting can teach you different budgeting strategies like the pay-yourself-first method or the 50/30/20 rule so you can learn to manage spending and save money over time.

Some personal finance books also cater to specific audiences. For instance, there are several books that include personal experiences the writer has faced, and how they've overcome these issues. Personal finance books for people of color often acknowledge systemic barriers people of color face and include nuances in culture when framing money strategies.

Benefits of Reading Personal Finance Books

The main benefit of reading personal finance books is that you can learn about different approaches to money management.

While there are similar jargon and fundamental concepts that you'll find across many personal finance books, you'll also find that many experts share different opinions, experiences, and strategies regarding money concepts. You get to take these nuggets of wisdom and shape your own ideas to cultivate a system that works for you and helps you achieve your savings goals . 

Want to Read More? Try These:

Not every book we wanted to mention made the top 18. Here are a few more good choices to continue your reading:

• "The Intelligent Investor," by Benjamin Graham
• "Girl, Get Your Credit Straight!," by Glinda Bridgforth
• "Financially Fearless: The LearnVest Program for Taking Control of Your Money," by Alexa Von Tobel
• "Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School," by Andrew Hallam
• "The Automatic Millionaire," by David Bach
• "You Are a Badass at Making Money," by Jen Sincero
• "Your Money or Your Life," by Vicki Robin
• "Get a Financial Life: Personal Finance in Your Twenties and Thirties" by Beth Kobliner

Personal Finance Books FAQs

Our must-read personal books for beginners are "The Financial Diet" by Chelsea Fagan and Lauren Ver Hage, "Finance for the People" by Paco de Leon, "The Poverty Paradox" by Mark Robert Rank, and "I Will Teach You to be Rich" by Ramit Sethi. 

Some of the best personal finance books for investing include "How I Invest My Money" by Joshua Brown and Brian Portnoy, "The Simple Path to Wealth" by JL Collins, "Broke Millennial Takes On Investing" by Erin Lowry, and "The Millionaire Next Door" by Thomas J. Stanley.

Yes, there are personal finance books specifically for women. The best personal finance books for women include "Financial Feminist" by Tori Dunlap, "Deeper Than Money" by Chloe Elise, "Cultura and Cash" by Giovanna González, and "When She Makes More" by Farnoosh Torabi.

"Retire Before Mom and Dad" by Rob Berger talks about the FIRE movement. "Cashing Out" by Julien and Kiersten Saunders is another option people can read if they want to retire early.

For budgeting tips, you should read "The Money Manual" by Tonya B. Ripley, "Spend Well, Live Rich" by Michelle Singletary, and "Clever Girl Finance"  by Bola Sokunbi.

Yes, there are personal finance books with tips and strategies for paying off debt . Our top reads for people who want to pay off debt are "Get Good With Money" by Tiffany Aliche, " The Financial Diet" by Chelsea Fagan and Lauren Ver Hage,  and "Deeper Than Money" by Chloe Elise.

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• Main content

•   The 45 best finance books to read in 2024

The 45 best finance books to read in 2024

There’s much more to the world of finance than figures on a screen, as these non-fiction finance books reveal..

It’s easy to fall into the trap of thinking that finance is just a numbers game, but those numbers represent hugely important things – from commodities that make the world go round, to people’s deep-seated hopes and dreams. The best finance books are those that accessibly explain subjects shrouded in often self-serving industry jargon, revealing fascinating and unseen truths about the way the world works.

Books about money can be windows into an overlooked past as well as snapshots of a possible future – sharing everything from ideas that can change the world to frauds that have brought whole nations to their knees. Whether it’s a personal finance book or a technical manual, there’s something for everyone – because finance affects us all. These finance books can help you make a success of money no matter your circumstances.

The Psychology of Money

By morgan housel.

“The best book about money ever written,” according to Diary of a CEO ’s Steven Bartlett, and who are we to argue? This global sensation was published in 2020 and has gone on to sell over four million copies. It’s easy to see why: Housel is a consummate story-teller, and these are stories that will change how you think about wealth, greed and happiness forever. Far from being mere cash, money is perhaps the ultimate human construct – and conundrum – that we face.

Same as Ever

Morgan Housel’s follow-up to The Psychology of Money does not disappoint. Everyone wants to predict the future, but everyone’s bad at it. That’s because the focus is usually on what will change – billions are spent every year trying to forecast it – yet no one can know for sure. However, there’s a small number of things that never change, and identifying them can give you a reliable advantage – not just in investing, but in business, life and more. In Same as Ever , international bestselling author Morgan Housel reveals them through twenty-three unforgettable stories.

The Event-Driven Edge in Investing

By asif suria.

Every investor seeks an edge to outperform the market. One such edge, once exclusive to institutional investors, lies in event-driven investing strategies. These strategies exploit corporate events like mergers, acquisitions, stock buybacks, and spin-offs to affect stock prices. The Event-Driven Edge in Investing explains how to use merger arbitrage for better risk-adjusted returns than bonds, follow insider actions for new investment ideas, track stock buybacks to gauge company value alignment, and leverage spin-offs to unlock value in either the spin-off or the parent company. With Asif Suria's guidance, you too can identify and profit from the event-driven edge in investing.

The World's Simplest Guide to the Stock Market

By edward w. ryan.

The World’s Simplest Guide to the Stock Market offers a clear and concise crash course on stock market essentials. Written in plain language, it answers key questions such as: what is a company, how do companies grow and raise money, and how do they go public? What is a stock, what causes stock prices to move, and what do investors experience when owning a stock? Author Edward W. Ryan uses his experience as a personal investor and industry professional to bring these complex topics to life. Perfect for beginners or those needing a refresher, this book is the ideal starting point for understanding stocks and the stock market.

Mastering the Mental Game of Trading

By steven goldstein.

Renowned trading performance coach Steven Goldstein shares his insights and experiences to help traders succeed in the markets. Through personal anecdotes and real-life trader stories, Goldstein delves into the psychological aspects of trading, revealing how attitudes and misconceptions can hinder potential. He introduces the Performance Process Cycle, a powerful model that helps traders overcome emotions and biases, improve self-awareness, and understand their interactions with markets and uncertainty. Goldstein's guidance inspires traders to reflect on their behaviors, beliefs, and actions as they strive to master the mental game of trading.

You Weren’t Supposed to See That

By joshua m. brown.

There are secret ways of seeing the world of finance that every investor should know. Josh Brown, the original Wall Street blogger, CNBC star, and CEO of Ritholtz Wealth Management, shares critical overlooked truths that can shift the balance from failure to success. Drawing on fifteen years of his acclaimed blog, The Reformed Broker, he revisits and expands upon his most popular writings. As he does so, he helps you to discover all the most important, surprising, and sometimes painfully true secrets of finance, investing, and Wall Street that you need to know to thrive today.

The Secret Wealth Advantage

By akhil patel.

The Secret Wealth Advantage is a strategic guide to making astute financial decisions by understanding the economic cycle that influences periods of boom and bust. Akhil Patel uses historical data and engaging anecdotes to explain the cycle’s dynamics, its impact on the economy, and why it often goes unnoticed. More than just theoretical insight, Patel provides practical advice for navigating each phase of the cycle, allowing readers to invest wisely, preserve wealth during downturns, and master what can seem like a chaotic financial world.

by Jared Dillian

There are books that make personal finance a nightmare of self-denial and checklists. Then there’s No Worries , a compulsively readable guide to living a stress-free financial life by simply getting a small number of things right, enabling you to flourish no matter your situation. This is the ultimate book for doing well with money for those who don’t want to spend their lives thinking about it.

The Art of Execution

By lee freeman-shor.

Over seven years, Lee Freeman-Shor allocated twenty-five to 150 million dollars to forty-five of the world’s top investors, on the condition that they only invest in their ten best ideas. Surprisingly, despite their expertise, most of these ideas failed to make money, with a coin toss proving a more effective decision-maker. Yet many of these investors still profited significantly. How? The Art of Execution reveals a crucial, often overlooked aspect of investing. Through real-life data, case studies, and stories from Freeman-Shor’s perspective as their fund manager, readers learn the secret habits that make or break investment success.

The 4-Hour Workweek

By tim ferriss.

The 4-Hour Workweek is the book that put passive income, personal outsourcing and remote work on the map. Published in a world where a 9–5 glued to your desk in an office seemed inescapable, Tim Ferris redefined the possibilities – and did so without the gimmicks or empty promises that so often cloud this topic. By following the blueprints in this practical and approachable book, you can learn how to live more and work less right now, instead of waiting decades until retirement. While some of the resources have inevitably dated since publication, the principles remain timeless – and the outcomes empowering.

The Naked Trader

By robbie burns.

For a refreshingly straightforward guide to stock market investing, look no further than The Naked Trader by Robbie Burns, one of the UK’s most popular financial writers (and the only one to have turned a few thousand pounds into £3m largely while trading in his pyjamas). Written in plain language and peppered with real-life examples, this book demystifies the often complex world of buying and selling shares for a living. It shows how anyone can do it – and enjoy a life of financial independence – without spending all day glued to a screen. The Naked Trader’s Book of Trading Strategies is a great companion book for those inspired by Robbie Burns.

Liar’s Poker

By michael lewis.

The book that launched a thousand finance memoirs, Michael Lewis’s first work as an author is still one of the best of its kind. An eye-opening journey through the chaotic world of 1980s Wall Street, from the intense dynamics of the trading floor to shifts in global finance, Lewis’s storytelling paints an unforgettable picture of greed, ambition, and economic change. The audio version is produced by Malcolm Gladwell’s innovative audio production company, Pushkin Industries – augmented with archival clips, original score and sound effects, as well as a bonus podcast episode.

Best Loser Wins

By tom hougaard.

Tom Hougaard is a renowned high-stakes trader known for turning £25,000 into over £1m in a year by trading the financial markets. Unlike typical trading books focusing on strategies and money management, this book offers a rare glimpse inside a trader’s mind. The result is fresh, honest, vulnerable – and deeply informative. Hougaard argues that success in trading isn’t just about technical knowledge but understanding, and managing, the psychological impact of the markets.

Billion Dollar Whale

By tom wright and bradley hope.

Billion Dollar Whale is the story of the astonishing fraud committed by Jho Low, a Wharton School graduate, who stole billions of dollars from a Malaysian investment fund, leaving the global financial system reeling. This pacy narrative recounts Low’s audacious scheme and the uses he put the stolen funds to – including financing The Wolf of Wall Street (of all films), opulent parties, and luxury real estate. Today, Low remains an international fugitive, evading charges in multiple countries, while investigations continue.

Iceland’s Secret

By jared bibler.

You don’t need a murder to make a thrilling piece of Nordic noir. This true story of the world’s biggest con – leading to a financial collapse the equivalent of three Enrons (the infamous US energy company which filed for the then largest ever bankruptcy in history in 2001 after accounting irregularities) – is almost impossible to believe. Jared Bibler moved from the US to Iceland in the 2000s, just in time to live through the country's financial meltdown in 2008. His own finances wiped out along with hundreds of thousands of fellow Icelanders, he landed a new role: as lead investigator into the dizzying crimes that had brought it about. His work led to Iceland being the only country to jail the CEOs of its major banks in the wake of the global financial crisis.

Just Keep Buying

By nick maggiulli.

Renowned finance blogger Nick Maggiulli tackles crucial financial questions with a data-driven approach in Just Keep Buying . This debut book is an intellectually thrilling debunking of many traditional beliefs in personal finance, offering evidence-based strategies for building wealth. Find out why saving less could be more effective, why you should never wait for market dips, and how you can actually thrive in market crashes – and much more.

Number Go Up

By zeke faux.

A darkly comic and revelatory account of the 2021 crypto boom, Bloomberg reporter Zeke Faux’s journey takes him from luxury parties in the Bahamas to uncovering a crypto-fuelled crime ring in Cambodia. The book brilliantly blends humour with detailed reporting, providing a captivating narrative on the rise and fall of a $3 trillion illusion. And if this hasn’t convinced you, it’s safe to say Number Go Up boasts perhaps the best opening two sentences to a finance book of all time – you’ll have to read it to find out.

The Essays of Warren Buffett

By warren buffett.

If you want to understand Warren Buffett’s approach to business and investing, this is what you need to read – with the man himself recommending it as the most comprehensive survey of his methods and thinking. A thorough and accessible compilation of insights over multiple decades of outperformance – packed with the wisdom and turns of phrase that led to him being acclaimed by many as the “Sage of Omaha” (the Nebraska city where Buffett and his company, Berkshire Hathaway, are based).

Poor Charlie’s Almanack

By charles t. munger.

Poor Charlie’s Almanack is the selected wisdom of investor and businessman Warren Buffett’s sharp-witted vice chairman, the late Charlie Munger. Edited by Peter D. Kaufman, this book shares Munger’s profound knowledge across multiple disciplines, including finance, business, history and philosophy. It’s not just an investment guide; it’s a comprehensive manual on ethical living, rational decision-making, and continuous learning.

The Simple Path to Wealth

By jl collins.

A beloved modern classic, The Simple Path to Wealth started as letters from financial expert and author, JL Collins, to his daughter, explaining the remarkably simple – but almost universally overlooked – ways she could ensure a life of financial freedom. These are simple steps anyone can take that will equip them to work and live on their own terms at any time, and in any place – most people just don’t know about them. The letters became a blog, the blog became a book, and over half a million copies later it continues to fascinate readers and change lives.

Pathfinders

The perfect pairing with his first book, The Simple Path to Wealth , Pathfinders is JL Collins’s collection of the most inspiring and interesting stories of his readers pursuing (and achieving) financial independence. From a restaurant employee on minimum wage who will be able to retire before he turns 45, to two teachers who never made a six-figure salary combined but retired as millionaires in their 30s – these stories are proof it can be done, and practical help for you at any stage on your own financial journey.

Free Capital

By guy thomas.

There are lots of books that explain how experts make millions investing in stocks and shares. Free Capital reveals a more elusive and intriguing set of subjects: ordinary private investors who have built colossal fortunes entirely on their own, including some within a tax-free ISA. Often speaking anonymously, Thomas gained unique access to these investors – and shares their stories and strategies in real depth in Free Capital .

Fooled by Randomness

By nassim nicholas taleb.

Can you distinguish skill from luck? Nassim Taleb’s engaging first book investigates this with the vivid and deeply read style that has become his trademark. A veteran trader and risk expert, Taleb upends nearly every conventional belief about talent and chance in an intellectual tour de force, through fascinating stories and a cast of engaging characters from Odysseus to George Soros.

Unknown Market Wizards

By jack d. schwager.

Jack D. Schwager’s Market Wizards books are legendary, and Unknown Market Wizards, the last entry is the series, is no different Instead of interviewing hedge fund and Wall Street greats as he does in previous works, Schwager introduces the reader to a motley collection of traders delivering substantial returns in total obscurity: the Unknown Market Wizards. The new paperback edition also turns the tables for the first time, as Jack is interviewed in Market Wizards -style himself. This book should be on every trader’s shelf.

The Great Depression: A Diary

By benjamin roth.

Discovered and published by his son in 2010, this account of life in an industrial town in Ohio during the Great Depression is “the best economics book ever written”, according to Morgan Housel, the international bestselling author of The Psychology of Money . Written as he experienced the tumultuous events following the 1929 stock market crash, young lawyer Benjamin Roth provides a uniquely personal perspective on a dramatic period of financial history. The result is not just a historical document but something that will resonate with all readers.

Investing for Growth

By terry smith.

Superstar fund manager Terry Smith is a boxer in his spare time and his prose in this collection of his best investment writing holds no punches, with fighting words on every page and flashes of sardonic humour. Best of all, it offers the kind of clear thinking and logical approach to analysing companies that makes you feel smarter after reading it. For Smith, what matters is whether companies can generate cash and do useful things with it. The more cash, and the more useful the things, the more interested you should be.

The Black Girl’s Guide to Financial Freedom

By paris woods.

Paris Wood’s groundbreaking book provides practical strategies for building generational wealth, avoiding financial pitfalls, pursuing education debt-free, and achieving early financial independence. With real-life stories – such as the extreme saver who retired at 30, the woman who worked 25 years in the wrong career, and how the author herself used the tools she shares in the book to create "job freedom" when she was laid off  – and clear advice, it’s tailored for Black women at any stage, from young professionals to those seeking new, empowering financial paths.

How to Think About Money

By jonathan clements.

Ever wanted to lead a more prosperous, worry-free financial life? Jonathan Clements argues that there are five crucial ideas that will get anyone there, and How to Think About Money is his guide to them. Lauded by both readers and investment icons like Jack Bogle, this book will unlock a lifetime of smarter financial choices with a single afternoon of reading.

The Zurich Axioms

By max gunther.

Legendary financial journalist Max Gunther wrote a number of classic finance books in the 1960s and 70s. This one reveals the principles of financial success relied upon by generations of super-rich Swiss speculators. These axioms were handed down to Gunther by his father, the latest in a long line of investors. Ultimately, it’s a guide to embracing risk intelligently – with applications not just to investment but business, life and love.

The Bond King

By mary childs.

How did Bill Gross – the “Bond King” of this book’s title, who at one time presided over a financial empire of $300bn – attain his crown? As with any struggle for a throne, the story isn’t always pretty, but it is always engrossing. Starting as a card-counting gambler in Vegas with just $200, Gross’s story is one of transformation and revolution – both personal and in the once-staid bond market. Mary Childs’s account of his journey is an important chronicle of the making of the modern financial world.

Engines That Move Markets

By alasdair nairn.

Engines That Move Markets is a captivating journey through history that unravels the cyclical nature of technological revolutions, from electric lighting to the internet. It highlights how initial scepticism often evolves into investor enthusiasm, leading to market booms and eventual busts. Investment partner Alasdair Nairn’s research provides invaluable lessons for evaluating emerging tech sectors and firms, as well as memorable and surprising stories from the forgotten pages of financial history.

Reminiscences of a Stock Operator

By edwin lefèvre.

First published in 1923, this lightly fictionalised account of legendary trader Jesse Livermore’s life and work is an enduring classic. Thanks to its timeless insights into market psychology, it remains as relevant today as a century ago – even though its evocative world of New York ‘bucket shops’ and ticker tape has vanished forever. Livermore’s trading career did not end happily – but anyone can learn from his story to approach the markets with the right mindset.

The Allocator’s Edge

By phil huber.

As traditional investment portfolios face new challenges, this book highlights the growing importance of spreading investments across multiple areas like private equity, hedge funds, and digital assets. Huber provides a uniquely detailed analysis of these alternatives, their risks, returns, and integration into portfolios that will be able to stand the test of time as technology and innovation transform both financial markets and the world around us.

The Intelligent Fund Investor

By joe wiggins.

Investing in funds is popular with those who want to build the value of their savings towards retirement or another goal. But sadly many of these investors give in to sloppy thinking, biases and the temptation to skimp on research. Joe Wiggins’s book shows not only how to overcome such pitfalls, but how to enjoy the process – and profit handsomely from the results. Discover why you should fear (not seek) smooth fund performance, why the best stories tend to lead to the worst investments, and why past performance is not only no guide to the future but the least effective way to make investing decisions.

The Geometry of Wealth

By brian portnoy.

The relationship between money and happiness is famously chequered. This book brings a vital and deeply researched new take on the question of whether one can buy the other, driven by the conviction that true wealth – financial and emotional – lies within reach of most of us, as long as we have the right framework.

My Money Journey

The road to financial independence doesn’t have to look the same for everyone. This diverse collection of 30 individual journeys to wealth and freedom shows the varied yet achievable routes that can get you there – from the fierce frugality of Kristine, who started again in her 40s after a divorce, to the slow and steady of Greg, who turned a childhood habit of saving into a lifetime of prudence and prosperity. Compiled by former Wall Street Journal columnist Jonathan Clements, the results are both surprising and encouraging.

Simple But Not Easy

By richard oldfield.

How many finance books start with a detailed list of the author’s investment mistakes? Described by the author as partly autobiographical and heavily biased – in other words, enjoyably candid and opinionated –, this book by fund manager Richard Oldfield is a terrific read. Come for the self-effacing humour, stay for the deep insights on the true nature of investment success, and take away learnings on what you can (and can’t) do to put the odds in your favour.

The Crypto Trader

By glen goodman.

The world of crypto can seem like a financial Wild West (see Number Go Up elsewhere on this list). But as with any asset, there have always been – and always will be – ways of making money consistently that don’t rely on random speculation or madcap schemes. In this insider’s view of successful cryptocurrency trading, Glen Goodman shares how to trade cryptocurrencies using time-tested and risk-controlled methods taken from the world of traditional trading – and demonstrated by years of his own highly profitable real-life crypto trades.

The Laws of Wealth

By daniel crosby.

In this landmark book, behavioural finance expert Dr. Daniel Crosby uses a lifetime of research and data to distil the practical rules of behaviour that anyone can follow to enjoy better results as an investor. Discover the behavioural foundations of wise investing, simple strategies for mitigating behavioural risks, and how to harness human nature for effective equity investing.

by Iona Bain

Things haven’t been easy when it comes to finances for young people – low wages, high housing costs, the economic impact of Covid-19, and that’s just to start. In Own It! , Iona Bain – BBC’s Morning Live residential financial expert, and one of the top millennial voices on money – helps readers tackle all these issues and more, showing how any young person can establish wealth and transform their life starting with nothing, beginning today.

The Smartest Guys in the Room

By bethany mclean and peter elkind.

How did an energy firm admired by investors and feared by rivals become a byword for fraud and scandal? The tipping point for the firm in question, Enron, was a Fortune article by Bethany McLean, questioning its earnings methods. What followed was a rapid descent into one of the largest bankruptcies in US history, shattering American confidence in a system that enriched executives while devastating small investors. McLean returns here in book form – along with co-author Peter Elkind – to tell the unbelievable true story in full.

Capital Allocators

By ted seides.

There is a hidden world in investing: the realm of the chief investment officer. These influential figures – managing trillions in assets on behalf of endowments, pensions, family offices, and more – largely operate out of the public eye. This book provides unprecedented insight into their practices, skills, decision-making frameworks, and portfolio management strategies.

How I Invest My Money

By joshua m. brown and brian portnoy.

How I Invest My Money is a collection of essays offering rare insight into the personal investment strategies of twenty-five financial experts, including portfolio managers, financial advisors, and venture capitalists. These professionals share how their backgrounds, families, and life struggles influence their financial decisions, highlighting the deep connection between money and values. Enhanced with illustrations by Carl Richards, it not only provides financial guidance but encourages readers to reflect on how money aligns with their own life goals and values.

The Complete Financial History of Berkshire Hathaway

By adam mead.

Berkshire Hathaway is the conglomerate run by Warren Buffett and the late Charlie Munger, with a toe in everything from insurance to boxed chocolates, as well as significant stakes in companies such as Apple and Coca-Cola. . I’s much more than a holding company and its history has lots to teach any investor or business leader. This weighty tome from Adam Mead tells the complete story, starting from its early days in the textile industry up to the present day, drawing on Warren Buffett's letters, annual reports, SEC filings, and meeting transcripts, along with subsidiary financials. A business epic.

Quality Investing

By lawrence a. cunningham, torkell t. eide and patrick hargreaves.

Is extraordinary performance in investing sustainable? Only if you can identify companies with advantages that do not decay over time – but strengthen. That possibility lies at the heart of this impressively researched book from investors at the renowned AKO Capital, the long-term-minded investment firm founded by two Norwegian investors in 2005 (one of whom recently moved to manage the Norwegian Government Pension Fund, the largest sovereign wealth fund in the world). The book reveals the traits that show a company’s potential for enduring success, using real-life case studies with a crispness and depth that has drawn praise from readers and professionals alike.

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Financial Literacy Books

• November 24, 2021
• FINANCIAL LITERACY

Financial literacy books – We have a list of the 25 best financial literacy books along with their author and a short description of these best financial literacy books.

Just as education gives us the ability to understand, in the same way, financial education gives us the understanding to understand financial products in the right way so that we can sharpen our financial intelligence by using financial resources effectively.

Financial Literacy books are the best option to improve financial literacy and enhance the ability to apply financial resources or components like budgeting, saving, credit, investment, and protection.

To the guideline of the Financial Literacy and Education Commission, there are five key components of financial literacy Earn, Spend, Save and Invest, Borrow and Protect.

Why should one read financial literacy books? The honest answer is for own lifelong financial well-being along with knowing about  what is financial literacy  and  why it is important .

Table of Contents

List of 25 Best Financial Literacy Books

There is a list of the 25 best  financial literacy  books, these books are really amazing and can the change mindset of a normal person like financially educated peoples.

Short Description of Best Financial Literacy Books

Books can change both the future and the thinking of a person. If you are in a habit of reading books then you will know very well.

How books fill our life with the light of knowledge, similarly reading financial books increases our financial skills and knowledge.

Rich Dad Poor Dad by Robert T. Kiyosaki

Rich Dad Poor Dad is one of the best personal finance books, In this book, Robert T. Kiyosaki shares his growing up learning from his friend’s father and his father.

In this book lesson, Robert clarifies the difference between Assets and liabilities. Common man always thinks all his valuable things are assets but they are mistaken.

One should read this book to understand financial literacy, it took a boom in my life to learn more about finance.

I personally recommended, starting your financial journey with this book because it is easy to understand and the author explains with examples along with amazing stories.

each youngster should read this book to understand the importance of real finance in their life.

The Richest Man In Babylon by George Clason

This is one of the amazing financial literacy books, in this book George Clason explains saving at least 10 percent of everything you earn and never confusing your necessary expenses with your desires along with 7 simple golden rules of money which lead to financial freedom.

The author also explains how can you invest your money so that this money will works for your lifetime, you do not need to work for money.

Why Didn’t They Teach Me This in School? by Cary Siegel

Cary Siegel is a retired business executive and this book was initially intended for his children when he realized they did not learn important personal finance principles before entering the real world after school.

He divides this book into 99 principles and eight money chapters that one should learn in high school. This book is easy to read in simple words.

The Psychology of Money by Morgan Housel  

Morgan Housel teaches in this book the Psychology of money how you can create a better relationship with money and make smarter financial decisions. Author Morgan housel explains how your psychology can work for and against you.

The book The Psychology of Money is written by Morgan Housel, in this book the author explains the art of handling money the right way.

It is said that sometimes a very intelligent and financially literate person in the matter of money also loses money and at the same time, even a normal person can become rich with money.

To understand the behavior of money, the author explains to the readers a very beautiful story that how people’s behavior toward money makes them poor or rich.

The author tells the story that at a young age, a boy who was a technology executive created and sold many companies. Due to this a lot of money came to him, but his foolish behavior towards money made him a pauper one day, he used to carry bundles of notes everywhere with him and used to be fond of being rich and a lot of money was spent on alcohol and other things. Foolishly lost in games.

Psychology plays a vital role in everyone’s life, The Psychology of money is the best book to understand how our psychology works for us and against us. Everyone must read this book.

Think And Grow Rich by Napolean Hill

Think and Grow Rich. This book is written by Napoleon Hill, an American author, he is one of the great writers of success. In this book, the author tells you the way to becoming rich.

Let us tell you that becoming rich does not mean only earning wealth, but it also means that in whatever field you want to work if you implement these 13 steps in your life in the right way. You will definitely get successful.

The book starts with some strong ideas, if you also have some great ideas, then you can do anything. Anything can be done by thinking, if our prankster can think something then he can do it too If you persevere then you will definitely get success in your goal.

The Intelligent Investor: The Definitive Book on Value Investing by Benjamin Graham and Jason Zweig

The book The Intelligent Investor was written by Warren Buffett’s mentor Benjamin Graham, All great investors, this book is also called the Bible of Investing.

In this book, the author has told about some important principles of investing, which by implementing in his life, Warren Buffett, who is the world’s number one investor, invests today.

In this book the author discusses some theories like aggressive and defensive investing, second very interesting concept given by Benjamin Graham in this book is the theory of Mr. Market.

Benjamin Graham tells about these three types of investors, number one defensive investor, number 2 aggressive investor and number 3 enterprise investor.

In this book there are other principles like margin of safety and all these principles in themselves play a huge role for a great investor.

The Theory of Investment Value by John Burr Williams

In this book, the author provides a theoretical framework for investors to determine the intrinsic value of stocks based on their dividends.

Just as Benjamin Graham is considered the father of value investing, John Burr Williams is considered the ancestor of the dividend investor.

The author lays out four key principles in this book Focus on Dividends Not Earnings, Investing vs. Speculation, Lasting influence and on Government, Socialism and Taxes.

This lesson is more important than ever in this age of growing and stagnant and low investment returns.

The Four Pillars of Investing by William J. Bernstein

In this book, the author explains how investors can build a strong portfolio by learning the four essentials of investing, even without a financial advisor.

The four pillars of successful investing have been described by the author. 1- Investment theory – which states that risk and return are different sides of the same coin. 2- Investment History – The author has divided investment knowledge into four major areas: Theory, History, Psychological and Investment Industry Practices Out of which historical knowledge can prove to be the most important for success in finance. 3- Investment Psychology- This tells that if you are not disciplined then you are your own worst enemy. 4- Investment Business – Brokers are not your friends and also the interests of fund companies are very different from yours.

Security Analysis by Benjamin Graham and David Dodd

The book Security Analysis is a famous book written by Benjamin Graham and David Dodd, in fact, security analysis is a process of deciding which securities will be a good investment, which can keep the principal safe and return on it.

The authors point out that any investment that does not satisfy these two conditions is not an investment but speculation.

The book Security Analysis, first published in 1934, has been in print ever since. Investment legend Warren Buffett also calls this book the Bible of Investment.

The importance of this book can be seen in the fact that it provides security analysis advice to all investors.

Psychology of Investing by John R. Nofsinger

In the book, the author does not pretend to know everything, in the book author Nofsinger writes that investors should use the psychology of investing.

Investors should adopt a sound financial strategy and avoid common investment mistakes as well as be patient in times of uncertainty and take advantage of practical finance opportunities in financial markets with their financial strategy

How Much Money Do I Need to Retire? by Todd R. Tresidder  

How much money do I need to retire? In this book, the author provides practical guides and a step-by-step plan to calculate your retirement needs with confidence.

How much money will be required for retirement?

The author takes you through the scientific aspect of modern retirement plans. As a successful guide, the book provides step-by-step instructions on how to correctly calculate the amount you need to retire so that you can ensure, How much money you need to retire?

Stop Acting Rich by Thomas J. Stanley  

This book is a best-selling book which makes the author also a best-selling author, in this book the author explains the difference between being rich and acting rich.

The author points out that everything you think you’re rich about is wrong. Thus the author rightly advises people to rethink their spending patterns and avoid getting bogged down in symbolism.

The Richest Engineer by Abhishek Kumar

“The Richest Engineer” is a book about the life and career of Abhishek Kumar, an engineer who became extremely successful in his field.

The book provides an in-depth look at the strategies and mindset that he used to achieve his success and offers advice and inspiration for others who want to follow in his footsteps.

It also covers his journey from being an engineer to becoming a successful entrepreneur, highlighting the key decisions and actions that led to his success.

Overall, the book is designed to provide readers with practical and actionable insights that can help them achieve their own goals and aspirations.

From The Rat Race to Financial Freedom by Manoj Arora  

Author Manoj Arora is an engineer by profession and a gold medallist from Aligarh Muslim University, in the book the author talks about creating a road map for achieving financial independence.

This book written by a common man for the common man will help you lead a financially independent and conscious life, the author also explains that it doesn’t matter how much you earn, what matters is how much you earn, You can save and invest wisely.

The secret of financial freedom is to learn the basic concepts of planning well and adopt the right approach, Everyone around us is caught in the rat race.

If you have resolved to take control of your finances and follow it by making a personal financial plan, then you have started moving from the rat race to financial freedom.

The Simple Path to Wealth: Your road map to financial independence and a rich by J L Collins

The Simple Path to Wealth is one of the best financial books out of all the financial books ever written.

The author guides you to move towards financial freedom in the book How You Can Buy Your Financial Freedom.

Further in the book, the author writes that how you can become rich and take control of your own finances, this book can help you achieve financial freedom.

One Up On Wall Street by Peter Lynch

This book is written by Peter Lynch, it is the most practical investment book I have read so far. The author has given three sections in this book.

The first one is an introduction to investment and how we can develop the mindset of a good investor.

In the Second section author give details views on step by step process to select a stock and in the third section, the author discusses the long-term view for investing and portfolio.

Whether you are investing in stocks or thinking of becoming an investor, you must read this book. Peter Lynch has been the manager of a large fund and has written this book based on his experience.

The Millionaire Next Door by Thomas Stanley and William Danko

In this book, the author shows you the simple spending and saving habits that lead to more cash in the bank. While most people earn in their life, this book helps you avoid critical mistakes on the way to financial freedom.

The author recommends using three rules to improve your chances of getting a million dollars in the bank.

• Start saving honestly and responsibly from the moment you start earning more than you need to live for the first time.
• If your target capital is falling short, then calculate it using a simple formula.
• Avoid financial mistakes and increase your financial knowledge to reach your goals.

Your Money or Your Life by Dominguez and Robin

In this book, the author advises following 9 principles to attain financial freedom, “Your Money Your Life” is full of examples, stories and experiences of many people.

Those who have followed the Indore step-by-step program or principles in their journey to financial freedom. The author suggests asking yourself questions.

• do you have enough money?
• Are you spending enough time with family and friends?
• Have you come home from your job for the rest of your life?
• Do you have time to participate in things that you think are worthwhile?
• If you were fired, would you see this as an opportunity?
• Are you satisfied with your contribution to the world?
• Are you at peace with money?
• Does your work reflect your values?
• Do you have enough savings to cover six months of normal living expenses?
• Is your life perfect? Do all the pieces of your job, your expenses, your relationships, and your values ​​- fit together?

If you answered ‘no’ to any of these questions, you must read this book.

The Wealthy Barber by David Chilton

This book is also the best financial book like many other financial books but it is more like a novel, The novel is centered around the author David.

An expectant father who finds out that he is not yet financially ready, his sister Cathy who has a successful business of her own but doesn’t know much about investing and her friend Tom also.

They are all in their late 20s to early 30s and they visit a new person from time to time in Sarnia, Ontario. They have heard that they have become quite rich.

The three friends wonder how this man named Rai got so rich on a barber salary and David frequently visits him for financial advice while he is cutting his hair.

The Total Money Makeover by Dave Ramsey

This book is written on Debt Management, Debt management plays a huge role in personal finance. This book is a New York Times bestseller that explains, How to come out of debt and improve your financial skills.

This book is strongly recommended for improving your financial state by avoiding common pitfalls like cash advances or credit cards used along with advice on keeping emergency funds and saving for college, and retirement.

Liar’s Poker by Michael Lewis

The book Lair’s Poker is written by Michael Lewis, the author writing the book as an autobiography of his own time and the experiences of the Salomon Brothers before that.

The book also follows the rise and fall of the Salomon Brothers, with the author focusing primarily on the mortgage bond department in the book, which closely tracked the speculative bubble in various mortgage-backed securities in the 80s.

I Will Teach You to Be Rich by Ramit Sethi  

” I Will Teach You to Be Rich ” is a New York Times and Wall Street Journal bestseller book, written by financial expert Ramit Sethi.

He explains that you can spend your money, guilt-free as long as you have it invested and allocated properly. This book also explains how to deal with common pitfalls like student loans, late fees etc.

Winning the Loser’s Game by Charles Ellis

This book is a well-known investment book based on real data and historical facts which always argues that successful investors always focus on long-term strategies to avoid short-term traps like compounding time and natural volatility of markets Lower.

This book provides strategies to gain control of your investment future by working with the markets rather than against them and we can learn a lot about our investing from it.

When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein

It is September 1998 when the New York Federal Reserve Bank invited several major Wall Street investment banks to enter into a consortium to fund a multi-billion dollar bailout of a troubled fund when the nearly $3.6 billion plan.

The announcement was not made soon so questions arose as to why the usually independent banks would come together to save a privately held fund, the answer to which was that the banks feared that the collapse of the fund could destabilize the entire stock market.

In the book, the author has shown the story of a fund’s fall and rise again with great reality which can teach an investor a lot and inspires them to grow.

Common Sense on Mutual Funds by John Bogle

“Common Sense on Mutual Funds” book written by John bogle.

This book gives advice to investors about Mutual Funds. In this book, the author has emphasized the importance of adopting a long-term strategy along with the appreciation of index funds.

Since the publication of this book, both the book and the author have received high acclaim in the investment community and this book has been counted as a bestseller for investors. who do not have the time to research to invest in direct stocks.

Buying Mutual Funds and Investing in Equity This book helps investors to choose the best mutual funds and encourages them to stick to them a long-term strategy. All those who want to invest in Mutual Funds should read this book.

Rich dad poor dad, The Richest Man In Babylon, and Think And Grow Rich is the three financial literacy books that I personally follow and read many times.

When you read these best financial literacy books you feel an energy in your body and learn new things in a funny and enjoyable manner.

Learning financial literacy can change the life of a person and make him economically stronger.

What is the best finance book to read for financial literacy?

The top financial book in my view is Rich Dad Poor Dad which made me curious about financial education and is always ready to learn financial things today and I think you must read the world’s bestseller financial book Rich Dad Poor Dad written by Robert T. Kiyosaki.

How To Become Financially Literate?

By reading books about financial literacy and gathering information from websites related to financial literacy, you can become financially literate, as well as you have to implement all the things you have learned related to financial literacy in your real life only then you can become a real financial literate person.

Interested to learn more   »  How to make money in stocks  Click on the Link.

» Read the more related article…

• The Ultimate Guide To Personal Financial Literacy
• What Is Financial Literacy
• Understanding Financial Literacy
• Top 10 Benefits From Financial Learning
• Financially Educated

My name is Sapna Rana Negi and I have done B.A. Basically I am a resident of Gudum, a small village in Chamoli district of Uttarakhand state, I was always very interested in internet and for almost a year I have been doing writing work by joining the team of InvesToBrain.Com. Also I am also a housewife.

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The 17 Best Personal Finance Books for Newbies

Simon Litt is the editor of The CFO Club, specializing in covering a range of financial topics. His career has seen him focus on both personal and corporate finance for digital publications, public companies, and digital media brands across the globe.

Everyone starts somewhere... but winners start here. These are my picks for the best finance books to start managing your money effectively.

I love helping people learn about personal finance. My mum was a banker, so fortunately, I learned the language of money really young—unfortunately, if this wasn't your upbringing, you're never really taught about personal finance.

I've taken to teaching people about financial concepts, whether by editing this publication or writing about it on my own... but I recognize that some authors are much better teachers than I am.

These are some of the best finance books you can find out there. Tuck in, and let's get started.

17 Best Finance Books For Beginners Shortlist

A brave claim, but I think these 17 books are the best personal finance books for beginners, full stop.

• Rich Dad Poor Dad by Robert Kiyosaki
• The Intelligent Investor by Benjamin Graham and Jason Zweig
• The Total Money Makeover by Dave Ramsey
• Your Money or Your Life by Vicki Robin & Joe Dominguez
• The Millionaire Next Door by Thomas J. Stanley
• The Little Book of Common Sense Investing by John C. Bogle
• A Random Walk Down Wall Street by Burton Malkiel
• Broke Millennial by Erin Lowry
• I Will Teach You to Be Rich by Ramit Sethi
• The Simple Path to Wealth by JL Collins
• The Richest Man in Babylon by George S. Clason
• Unshakeable by Tony Robbins
• The Money Book for the Young, Fabulous & Broke by Suze Orman
• The Barefoot Investor by Scott Pape
• Nudge by Richard H. Thaler & Cass R. Sunstein
• Personal Finance for Dummies by Eric Tyson
• The Index Card by Helaine Olen & Harold Pollack

Overviews Of The 17 Best Finance Books For Beginners

Here’s a quick summary of each book, what you’ll learn, and why you should read it, plus a quote from the book where applicable.

1. Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki

"Rich Dad Poor Dad" is a book that contrasts the mindset and financial knowledge of Kiyosaki's “Rich Dad” and “Poor Dad.” It illustrates the fundamental financial principles and illustrates the importance of investing in assets and starting entrepreneurial ventures to achieve financial independence.

What You'll Learn:

You will gain insights into the importance of financial education and wealth-building strategies. The book provides fundamental concepts on the difference between assets and liabilities, emphasizing the significance of making money work for you to avoid the rat race of life.

Why You Should Read It:

This book is essential for beginners as it lays down the foundational principles of financial intelligence. It is an enlightening read that offers a new perspective on money, work, and life and is crucial for anyone looking to break free from the cycle of earning and spending.

Quote From The Book:

“The poor and the middle class work for money. The rich have money to work for them.”

About The Author:

Robert Kiyosaki is a renowned entrepreneur, investor, and educator, championing the cause of financial literacy. Connect with him on LinkedIn , and Twitter , or explore more about his works and philosophies on his company website .

2. The Intelligent Investor Rev. Ed: The Definitive Book on Value Investing by Benjamin Graham and Jason Zweig

"The Intelligent Investor" is a comprehensive guidebook on value investing. Benjamin Graham’s philosophy of “value investing” shields investors from substantial error and teaches them to develop long-term strategies, making this book an invaluable tool in the world of investing.

You will learn the principles of value investing, risk management , and the development of long-term strategies. Graham's philosophy will guide you on avoiding substantial error and teach the art of "value investing" to achieve consistent, long-term success.

This book is a beacon for individuals desiring to refine their investing skills and decisions. It delves into the psychology of investing, which is crucial for avoiding the pitfalls that emotions can lead to, making it an indispensable read for anyone serious about attaining success in investing.

“In the short run, the market is a voting machine, but in the long run, it is a weighing machine.”

Benjamin Graham was a notable economist and professional investor.

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3. The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness by Dave Ramsey

The Total Money Makeover" provides a bold and straightforward approach to money management . Dave Ramsey provides a comprehensive plan to get out of debt, save money, and invest wisely, aimed at those who seek financial fitness and stability.

You’ll learn the steps to eliminate debt, build an emergency fund, and invest wisely. Ramsey provides actionable advice on budgeting, saving, and avoiding debt, enabling readers to achieve financial stability and wealth.

Dave Ramsey’s proven money-making strategies and debt-reduction methods have transformed the financial lives of millions. This book is for anyone desiring to attain financial fitness and avert the common pitfalls related to debt and spending.

“We buy things we don't need with money we don't have to impress people we don't like.”

Dave Ramsey is a financial guru and best-selling author focusing on personal finance. Explore more about his financial wisdom on LinkedIn , and Twitter , or visit his website for more resources and insights.

4. Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial MORE by Vicki Robin & Joe Dominguez

"Your Money or Your Life" is a groundbreaking book that redefines the relationship one has with money, emphasizing living a more deliberate and fulfilled life. It presents a systematic program for transforming your relationship with money and achieving financial independence.

You’ll absorb strategies for debt-free living, saving money, and making conscious spending decisions. This book helps readers understand the value of money in correlation to time and life energy, redefining how to approach earning and spending.

This book is a treasure for those yearning to attain a life of financial independence and value-based living. It’s an essential read for anyone looking to transform their relationship with money and seeking a life of more freedom and fulfillment.

“Money is something we choose to trade our life energy for.”

Vicki Robin is a renowned author and speaker, advocating for financial independence and a sustainable lifestyle. Explore more about Vicki on LinkedIn , Twitter , or her personal website .

5. The Millionaire Next Door by Thomas J. Stanley

"The Millionaire Next Door" uncovers the common traits of those who accumulate wealth, debunking myths about the wealthy. It presents extensive research on millionaires and their lifestyles, breaking stereotypes and highlighting the path to building wealth.

Readers will learn about the seven common traits found among those who accumulate wealth, including living below one's means and allocating time, energy, and money efficiently.

This book is insightful for individuals aspiring to accumulate wealth by living purposefully. It reveals the real picture of wealth in America, offering a roadmap to becoming the ‘millionaire next door’ through disciplined and resilient wealth-building strategies.

“Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high.”

Thomas J. Stanley was a bestselling author and a researcher on the affluent in America. For more insights and research, visit his website .

6 . The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle

John C. Bogle's book is a guiding light in the world of investing, providing the blueprint for owning a portion of a stock market portfolio. It emphasizes the benefits of low-cost index funds, highlighting the importance of simplicity in investment strategy.

You will understand the essence of simplicity in investing, the importance of focusing on the long term, and the value of relying on well-established, low-cost index funds to achieve reliable returns.

For anyone willing to navigate the investment maze, this book serves as a beacon, unraveling the importance of simplicity and long-term focus. It's a crucial read to make the most of your investments and avoid the pitfalls of complex, costly investing strategies.

“A low-cost index fund is the most sensible equity investment for the great majority of investors.”

John C. Bogle was the founder of the Vanguard Group and a major proponent of index investing.

7. A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing by Burton Malkiel

Burton Malkiel’s esteemed work offers a comprehensive guide to various investment opportunities, focusing on the ‘random walk’ hypothesis. It elucidates a myriad of investment strategies, advocating for the long-term buy-and-hold strategy.

You'll gain insights into the functioning of the stock market, the effectiveness of technical and fundamental analysis, and the foundational principles of a successful investment portfolio.

This book provides an extensive understanding of the complexities of the stock market, making it an invaluable resource for anyone aiming to navigate the ever-evolving investment landscape successfully. Its empirical wisdom is crucial for making informed and prudent investment decisions.

“The problem with gold is that it does not earn any return and its price is determined solely by demand relative to supply.”

Burton Malkiel is an economist and writer, specializing in the stock market and investment strategies.

8. Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry

Erin Lowry's book is a practical and accessible guide, tailored to address the financial concerns and aspirations of millennials. It brings forth a plethora of real-life scenarios, advice, and actionable tips to manage money effectively.

You will learn the nitty-gritty of budgeting, investing, handling debt, and understanding your money mindset.

Erin Lowry’s practical advice and relatable narrative make this book a must-read for millennials struggling with financial dilemmas. It’s a step toward financial literacy and empowerment, helping the reader navigate their financial journey with confidence.

“It’s not about hitting a $1 million mark; it’s about managing the money you have in a way that helps you live your best life.”

Erin Lowry is a millennial personal finance expert, speaker, and author. You can follow her insights and connect with her on LinkedIn .

9. I Will Teach You to Be Rich by Ramit Sethi

Ramit Sethi’s book is a bold, conversational guide to wealth creation, emphasizing no-guilt money philosophies. It offers a robust six-week personal finance program focused on banking, saving, budgeting, and investing.

Readers will learn the intricacies of banking, saving, budgeting, and investing, along with mastering the psychology of money to live a rich life.

With a relatable and unapologetic approach, this book is for anyone aiming to master their money without sacrificing entertainment and leisure. It offers a blend of wealth-building strategies and insights into leveraging money as a tool to achieve life’s riches.

“There is a limit to how much you can cut but there is no limit to how much you can earn.”

Ramit Sethi is a personal finance advisor, author, and entrepreneur. Connect with him on LinkedIn , or explore his philosophies on his company website .

10. The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life by JL Collins

JL Collins presents a succinct guide to financial independence and wealth-building, emphasizing the power of simplicity and consistent investments in low-cost index funds.

You'll uncover the principles of financial independence, the significance of savings, and the essence of sound investment in achieving a wealthy, free life.

This book is vital for those seeking a straightforward path to wealth, providing clear strategies and insights on managing money and investments to attain financial freedom. It's a guide to understanding money in its simplest form and using it as a tool to shape your future.

“Prosperity is only an instrument to be used, not a deity to be worshipped.”

JL Collins is a renowned financial blogger and author.

11. The Richest Man in Babylon: The Original 1926 Edition by George S. Clason

George S. Clason’s timeless classic uses ancient Babylonian parables to impart fundamental financial lessons. It provides foundational wisdom on wealth accumulation, preservation, and sharing.

You’ll grasp essential financial principles such as living below your means, seeking wise counsel, and investing wisely for income through the enchanting parables from the wealthiest city of the ancient world, Babylon.

The allegorical tales in this book render timeless financial wisdom and are a beacon for anyone looking to establish a solid financial foundation. Its enduring lessons on wealth creation are as relevant today as they were in 1926.

“Start thy purse to fattening.”

George S. Clason was a soldier, businessman, and writer, best known for his instructive works on financial success. More about his life and works can be discovered through historical records and his lasting contributions to financial literature.

12. Unshakeable by Tony Robbins

Tony Robbins’ “Unshakeable” serves as a financial freedom playbook, illustrating the strategies of the world's top investor, Warren Buffet. Robbins deciphers the codes to financial success, wealth management, and long-term financial freedom in this insightful read.

You’ll delve into the financial strategies and investment secrets from some of the world’s most successful investors and learn the keys to building long-term wealth even in the most uncertain economic times.

Robbins’ expertise, coupled with insights from financial giants, makes this book an essential read for those aiming to attain financial resilience and independence. It offers a holistic view of wealth creation, focusing on both financial strategies and the psychological aspects of money.

“The stock market is a device for transferring money from the impatient to the patient.”

Tony Robbins is a world-renowned life and business strategist, author, and entrepreneur. Connect with him through LinkedIn , or Twitter , or visit his company website for more resources and insights.

13. The Money Book for the Young, Fabulous & Broke by Suze Orman

Suze Orman’s book is a finance guide for the younger generation, addressing specific financial challenges faced by young adults and providing practical advice on credit, investing, and retirement.

Gain insights into managing debt, building credit, saving, investing, and achieving financial stability even with limited resources. Understand how to make informed financial decisions that lead to a secure future.

This book is a must-read for young adults struggling to navigate the complex world of finance. It offers practical, step-by-step guidance to overcome financial hurdles and build a robust financial future, making it especially pertinent to those who are young, fabulous, and broke.

“True financial freedom is not only having money but having power over that money as well.”

Suze Orman is a renowned financial advisor, author, and speaker. To learn more about her philosophies and get more financial advice, visit her website or connect with her on LinkedIn .

14. The Barefoot Investor by Scott Pape

Scott Pape’s “The Barefoot Investor” provides Australians with a step-by-step guide to financial freedom, offering simple strategies for managing money, investing wisely, and securing a stress-free retirement.

Discover the principles of sound money management, debt reduction, and retirement planning with easy-to-follow steps and financial advice applicable to real-life situations.

This book’s no-nonsense approach to financial planning and its specific focus on Australian financial landscapes make it a valuable read for anyone, regardless of their financial knowledge or background, looking to gain control over their finances and live freely.

“Don’t follow the herd. It doesn’t end well.”

Scott Pape is a distinguished financial counselor and author specializing in personal finance. You can connect with him through his website for more financial strategies and advice.

15. Nudge: Improving Decisions About Health, Wealth, and Happiness by Richard H. Thaler & Cass R. Sunstein

“Nudge” explores how the design of choices impacts our decisions and how slight changes can significantly improve our ability to make better choices in health, wealth, and happiness.

Understand the concept of "choice architecture" and how it influences decision-making processes. Learn how to set up environments that nudge people towards decisions that are beneficial in the long run.

This book is essential for anyone interested in understanding human behavior and decision-making. It provides insights into how subtle changes can lead to significant improvements in making choices, whether it’s about personal finance, health, or overall well-being.

“A nudge… is any aspect of the choice architecture that alters people’s behavior predictably without forbidding any options or significantly changing their economic incentives.”

About The Authors:

Richard H. Thaler is a Nobel Laureate, and Cass R. Sunstein is a legal scholar. Explore more of their work on behavioral economics and law through their respective academic profiles and publications.

16. Personal Finance for Dummies by Eric Tyson

Eric Tyson’s book is a comprehensive guide to building wealth and securing financial stability. It covers a range of topics including budgeting, reducing debt, investing, insurance, taxes, and retirement planning.

This book offers extensive knowledge on managing money, building wealth, and planning for the future. It provides practical tips and advice to handle personal finance efficiently and make informed financial decisions.

“Personal Finance for Dummies” is suitable for those seeking to understand the basics of financial management and gain control over their financial life. Its detailed approach makes it an invaluable resource for anyone looking to enhance their financial literacy.

“Taking control of your finances is a life-long skill—well worth the investment of your time and energy.”

Eric Tyson is an accomplished finance author and speaker. For more insights on personal finance and to connect with him, you can visit his company website .

17. The Index Card: Why Personal Finance Doesn’t Have to Be Complicated by Helaine Olen & Harold Pollack

Olen and Pollack demystify personal finance, asserting that all the financial information one needs can fit on a single index card. The book offers straightforward advice on spending less, saving more, investing wisely, and navigating the maze of financial products and services.

Learn the fundamental principles of personal finance, including saving, spending, investing, and securing a robust financial future, all distilled into simple, actionable steps.

The simplistic yet profound approach of “The Index Card” makes it a must-read for anyone overwhelmed by the complexity of personal finance. It provides clarity and actionable advice to improve financial health without unnecessary complications.

“The best financial advice is simple, easy to understand, and inexpensive.”

Helaine Olen is a commentator on personal finance, and Harold Pollack is a public health researcher. For more insights and advice visit Helaine’s LinkedIn .

Which Best Finance Books For Beginners Do You Recommend?

I invite you to share any pivotal finance books you believe should be included in this list. Your insights are valued, and your recommendations are welcomed, as they can help enhance this collection and assist others on their journey to financial literacy and independence.

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Success Advice

10 of the best financial education books that wealthy people read.

You don’t just need money to build an empire, you need great knowledge, usually from   financial education books that will feed you with nuggets of wisdom needed to amass, maintain and increase your wealth.

There are a number of financial education books that have built a great reputation over the years for providing insightful and mind-opening education that has changed the lives of many people. Finding a book that answers the financial questions that have remained a puzzle in your quest for success is a life-changing experience.

Here is a collection of some of the best financial education books that have shaped the lives of some of the newest wealthy individuals across the globe and inspired them to take up challenges that have made them remarkably successful.

The Best Financial Education Books:

1 . rich dad, poor dad.

In this book, Robert Kiyosaki will show you the difference between a wealthy man and a poor man and the decisions that define each one of them. Robert Kiyosaki continues these insights in a series of Rich Dad books that you will find useful in financial education such as Unfair Advantage and Rich Dad’s Cash Flow Quadrant.

2 . The Millionaire Next Door

According to the book, the rich budget, live below their means and allow their grown-up children success independently. This will show you how to solve the investing equation on saving and earning money. Perhaps you are always trying to figure out the nature of things that go through the brain of a millionaire .

3 . The Intelligent Investor

4 . street smarts, 5 . think and grow rich, 6 . one up on wall street, 7 . the little book of common sense investing, 8 . do what you love and the money will follow, 9 . secrets of the millionaire mind, 10 . the money book for the young, fabulous and broke.

Suze Orman saw the niche in young people who had just left college without any form of financial literacy and wrote a financial education book to enlighten them on the steps to making money .

Thank you for checking out our list of the best financial education books.

Please leave a comment and let us know of any financial education books that you have read lately that are worth noting on this list and we will be happy to mention them in an updated version of this post.

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I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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• Book Collections

Home — Collections — Financial Literacy: Books That Help You Take Care of Your Future

Financial Literacy: Books That Help You Take Care of Your Future

Table of Contents

So what exactly is financial literacy ? The widely accepted definition is that financial literacy (or financial education) represent a set of skills and knowledge about financial, credit and debt management that allow a person to make financially responsible decisions.

Of course, like Robert Kiyosaki (author of Rich Dad, Poor Dad ) says, in real life, the answer to the question “What is financial literacy?” depends a lot on who you’re asking. For some, it means learning how to save money or use a credit card responsibly. For others, it means learning how to manage a retirement account or invest in the stock market.

Regardless of which one of these answer resonates with you, we can all agree that financial education is crucial for avoiding high levels of debt and also for securing the ability to provide for the future.

This might sound like basic stuff for some, but it’s not. Surveys all across the world revealed that people make poor financial decisions in both emerging economies and developed economies. Also, if you think that highly educated consumers with higher income are more financially educated, you’d be wrong. For example, four in ten Americans don’t plan for retirement at all.

So why is this happening? I mean, for some it might be common sense that you need to take care of your spending and plan for the future. But apparently, it’s not common sense for everyone. And one of the main culprits is the lack of financial education in schools. All across the world. The same surveys showed that financial education is still an issue in a lot of countries in Europe, North America, Australia or Asia.

And this brings us with the most important question. How do you get yourself to be financially educated? Well, the first step would be to be taught basic financial education principles by your parents. If you weren’t lucky enough to have that, you need to educate yourself. And probably the most accessible way to do that is…guess what? You’re right, reading books. Most important, the best financial literacy books you can find. There are countless books on financial education and making a list of „the best ones” wasn’t easy. But we think we came pretty close. And, as usual with our book lists, all of the books mentioned here were recommended by dozens of entrepreneurs.

So, hope you find these books useful and don’t forget to drop us a line if you read any of these books or if there are any books you think we should’ve mentioned here.

Rich Dad Poor Dad

Author: robert kiyosaki, recommended by: vladimir oane, robert hajnal and 20 others.

Darren Chua: The first book that inspired me was actually Rich Dad Poor Dad by Robert Kiyosaki. I read the book when I was 12 and provided me with another perception of school and money. It was a good starting point for me to reconsider everything that was taught in school. School does not prepare us for life after graduation. Robert’s lessons inspired me to seek experiences and advice beyond the typical school system.

Think and Grow Rich

Author: napoleon hill, recommended by: daymond john, ola olusoga and 10 others.

David Kramaley: “Think and Grow Rich” was recommended by a professor in a Computer Science class I had (random!). This book really convinced me that the human potential is limitless as long as we apply ourselves. I am in control of what I can achieve. If you apply yourself long enough and are willing to put in the hard work, you can literally think yourself to riches, and it’s not only meant in the sense of money, but everything!

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich

Author: tim ferriss, recommended by: james altucher, bryan callen and 32 others.

Joel Gascoigne: This is one of the most practical books I’ve ever read. It is packed with so much information and actual resources to get you on your journey with creating passive income and if you desire, traveling. It really opened my mind to a lot of productivity improvements I could make.

I would also say that The 4-hour Work Week helped me to dream about the idea of traveling while working. I read it 4 years ago, and in that time I have traveled the world and lived in 4 different continents. It’s been one of the best experiences of my life so far, especially when I’ve spent months rather than weeks or days in a place.

MONEY Master the Game: 7 Simple Steps to Financial Freedom

Author: tony robbins, recommended by: madalina uceanu, michael herrmann and 2 others.

Michael Herrmann: Save more and invest in low-cost index funds. A little US-centric but important advice for personal finances.

The Richest Man in Babylon

Author: george s. clason, recommended by: daymond john, david heinemeier hansson and 2 others.

Yaro Starak: You get this one idea about your finances that you take forward like Richest Man in Babylon – you know, save 10% of your money every year and make sure it grows 10% every year, and that’s how you can become wealthy long-term, because of compounding – a simple idea.

The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime

Author: mj demarco, recommended by: scott oldford, turgay birand and 2 others.

Scott Oldford: I don’t know how many times I read that book when I was broke but, of course, the sidewalk, slow, and fast lane, I borrowed that for the SSF method that I talk about sidewalk, slow, and fast lane for lead generation. He talks about it from a financial perspective, so almost completely, entirely unrelated but that book was very, very life changing for me. So, two of those books, by far, the best books that from a level of changing my life at the right time.

The Intelligent Investor

Author: benjamin graham, recommended by: warren buffett, michael hebenstreit and 1 other.

Warren Buffett: To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. This book precisely and clearly prescribes the proper framework. You must provide the emotional discipline.

The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness

Author: dave ramsey, recommended by: vincent pugliese.

Vincent Pugliese: Linchpin by Seth Godin, The Total Money Makeover by Dave Ramsey, and Rich Dad, Poor Dad had immediate effects on my life.

The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich

Author: david bach, recommended by: tiffany aliche.

Tiffany Aliche: The Automatic Millionaire by David Bach – this is the book that started Tiffany on her financial journey.

Business Adventures: Twelve Classic Tales from the World of Wall Street

Author: john brooks, recommended by: bill gates, warren buffett and 1 other.

Bill Gates: Brooks’s work is a great reminder that the rules for running a strong business and creating value haven’t changed. For one thing, there’s an essential human factor in every business endeavor. It doesn’t matter if you have a perfect product, production plan, and marketing pitch; you’ll still need the right people to lead and implement those plans.

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• The 14 Best Finance Books of All Time

In 2022, a study found that 56% of Americans have less than $1,000 in savings in the bank. It gets worse: Over half of those people don’t have enough money to cover a $1,000 expense at all. They’d have to borrow the money. That’s bad.

It’s not bad because “you should save money,” but because having no emergency fund puts you in a vulnerable position. What if someone crashes into your car? What if you break a few bones? Things outside of our control can force us to pay up. You don’t want to come up short when that happens.

That’s just the most pressing example of why you should learn to manage your finances. There are others: Retiring in peace without stressing about money, having enough to invest in a new venture, giving freely to friends, family, and charity — money does make our lives easier up to a certain degree.

Thankfully, there are a lot of good books to help us become financially smart. At Four Minute Books, we’ve reviewed and summarized over 1,000 books to date , and we think the best finance books come down to three things:

• Practical advice. Money is a tangible thing, so whatever tips authors give should be easy to implement for you right away.
• Relevant information. Depending on your situation and goals, you might need a beginner’s book or a more advanced one.
• Inspiring stories. If a book is boring, it won’t motivate you to take action. The easiest way to change is to listen to a good story.

Based on these three criteria, we’ve selected the 14 best finance books for you to read. If you want to become savvy with your finances, be smarter in how you spend and save, and learn to invest your money to build freedom, consider these books.

Our list includes our favorite quote, a short summary, three key lessons, and few arguments for why you may want to read each book in question. Each of them is available on Four Minute Books, so you can read our free four-minute summary or get a copy for yourself.

To make navigating this page easier for you, we broke the list down into different categories and created a table of contents. You can also jump back up here with the little arrow in the bottom right corner of the page.

Whether you’ve been unlucky, have bad financial habits, or just aren’t good at math, these books may finally change your financial life for the better. Here are the best finance books!

Table of Contents

1. Rich Dad Poor Dad by Robert T. Kiyosaki

2. money: master the game by tony robbins, 3. the barefoot investor by scott pape, 4. the one-page financial plan by carl richards, 5. the intelligent investor by benjamin graham, 6. the little book that beats the market by joel greenblatt, 7. the millionaire fastlane by mj demarco, 8. think and grow rich by napoleon hill, 9. i will teach you to be rich by ramit sethi, 10. the total money makeover by dave ramsey, 11. the automatic millionaire by david bach, 12. the millionaire next door by thomas j. stanley, 13. secrets of the millionaire mind by t. harv eker, 14. the richest man in babylon by george clason, bonus: the 4 minute millionaire by niklas göke, other book lists by topic, other book lists by author, best finance books overall, favorite quote.

“The main reason that over 90 percent of the American public struggles financially is because they play not to lose.  They don’t play to win.”  — Robert T. Kiyosaki

The Book in One Sentence

Rich Dad Poor Dad tells the story of a boy with two fathers, one rich, one poor, to help you develop the mindset and financial knowledge you need to build a life of wealth and freedom.

Why should you read it?

This book is controversial, but in getting you to actually do something , it just works. It’s based partially on Kiyosaki’s life, who learned two different ways of handling money from his dad and that of his best friend. The lessons are a mix of how to approach money as a concept, basic knowledge of accounting, budgeting, and investing, and how to manage your money so it works for you. By the time you’re done with the story, you’ll enjoy implementing the tips.

Key Takeaways

• Use your money to acquire assets, not liabilities.
• Manage risks instead of avoiding them.
• Work to learn, not to earn.

If you want to learn more, you can read our free four-minute summary or get a copy for yourself.

“You either master money, or, on some level, money masters you!” — Tony Robbins

Money: Master The Game lays out seven simple steps to financial freedom, based on the advice of the world’s best billionaire investors, interviewed by Tony Robbins.

Tony Robbins dedicated ten years of research to this book. After the financial crisis of 2008 , he decided to help average people secure a good future. After interviewing several billionaire financial legends, such as Ray Dalio , Warren Buffett , Jack Bogle , he put together their best strategies. The book contains everything from mindset changes to saving tips to asset allocation. The transcripts of the interviews are worth the price of the book alone.

• Never underestimate the exponential power of compounding interest.
• Pick one of three financial goals to show yourself that financial freedom is within reach: basic expenses, basic + fun, or financial independence.
• Diversify your investments by using a 3-bucket system: A security bucket, a growth bucket, and a dream bucket.

Best Finance Books For Beginners

“You can continue living in the past, beating yourself up about the money mistakes you made when you were younger, telling yourself you’ve left it too late…or you can rise up and make yourself proud.” — Scott Pape

The Barefoot Investor is an Australian farm boy’s no-BS guide to taking charge of your personal finances with a simple system to eliminate debt, live in the now, and still retire in peace.

Scott Pape is Australia’s most trusted personal finance expert. His book has sold over 1,000,000 copies. Despite growing up on a farm, Pape wanted to get rich by trading stocks. That didn’t work out. He went back to his farm and now uses the simple life as a metaphor for managing your money. The book helps you take control in three phases: plant, grow, then harvest your money. He balances easy tips with radical advice. A great book for beginners.

• Simplify your money management by using different bank accounts.
• Shred your credit cards first, then start paying off your debt.
• Automate some of your retirement planning with index funds.

“People who understand interest earn it. People who don’t pay it.” — Carl Richards

The One-Page Financial Plan makes financial planning stop feeling like a burden for the less disciplined by helping you plan your entire financial future on a single page.

Carl Richards has spent more than 40,000 hours over the last 20 years as a financial advisor, working at Wells Fargo, Merrill Lynch and others. Some of his sketches he shares on Instagram went viral. They illustrate the ideas that helped him and his wife plan their finances on just one piece of paper. His book shows you how to do the same.

• Set some goals but stay flexible and fine-tune along the way.
• Turn budgeting into a game to make saving fun.
• View paying off debt as an investment in your future.

Best Finance Books For Investors

“Those who do not remember the past are condemned to repeat it.” — Benjamin Graham

The Intelligent Investor explains value investing, which is focused on generating steady, long-term profits by ignoring the current market and picking companies with high intrinsic value.

Warren Buffett says this is the single greatest book on investing ever written. It’s based on Benjamin Graham’s classes, which Warren Buffett took as a young student. Value investors find companies with great fundamentals and buy their shares at a discounted price. After that, all they have to do is wait. Eventually, their real value will unlock. A true, timeless classic.

• There are 3 principles to intelligent investing: analyze for the long term, protect yourself from losses, and don’t go for crazy profits.
• Never trust Mr. Market, he can be very irrational in the short and medium term.
• Stick to a strict formula by which you make all your investments, and you’ll do fine.

“Choosing individual stocks without any idea of what you’re looking for is like running through a dynamite factory with a burning match. You may live, but you’re still an idiot.” — Joel Greenblatt

The Little Book That (Still) Beats The Market is a step-by-step tutorial to implement a simple, mathematical formula when buying stocks which guarantees long-term profits.

Joel Greenblatt is an investing legend. His investment company Gotham Funds had an annual return of over 40% for 20 years, from 1986 to 2006. With his simple formula, Joel has managed to turn Benjamin Graham’s value investing approach into a system that only needs to be updated once a year. In 2005, he wrote it down to pass it on to his children. If you’re looking for a specific, low-hassle investment approach, this is your best bet.

• Look at earnings yield and return on capital to evaluate stocks.
• Rank and combine these two factors to find winning companies.
• Be patient, it’s what makes this formula unpopular, but effective.

Best Finance Books For Entrepreneurs

“Many people want to change their life, but they are not willing to change their choices, and ultimately this changes nothing.” — MJ DeMarco

The Millionaire Fastlane points out what’s wrong with the old “get a degree, get a job, work hard, retire rich” model, defines wealth in a new way, and shows you the path to retiring young.

This book must have the world’s most misleading title. It’s not a get-rich-quick-scheme at all. Instead, it’s a story of persistence, boldness, risk-taking, and unconventional thinking. After seeing a man in a Lamborghini when he was a teenager, MJ DeMarco knew he wanted to be rich, but he didn’t want to slave away for 40 years to get there. After launching, selling, and re-buying his own company, he retired at age 33 as a multi-millionaire. An inspiring read!

• Wealth stands for 3 things — and money isn’t one of them: health, relationships, and freedom are what truly matters.
• At some point, you must make your income independent of your time.
• Think like a producer, not like a consumer.

“The starting point of all achievement is desire. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.” — Napoleon Hill

Think and Grow Rich is a curation of the 13 most common habits of wealthy and successful people, distilled from studying over 500 individuals over the course of 20 years.

This might be the most popular book about success in the world. After steel magnate Andrew Carnegie himself put him on to the task, Napoleon Hill interviewed successful individuals for 20 years. The result, was published in 1937 and has sold 70 million copies. It’s a book about thinking, vision, and doing what it takes to succeed. If you’re a young entrepreneur, this is for you.

• Use autosuggestion to build an unshakeable belief in yourself.
• Be stubborn and always stick to your decisions.
• Join a Mastermind group to cut your learning curve.

Best Finance Books For Saving Money

“Getting started is more important than becoming an expert.”  — Ramit Sethi

I Will Teach You To Be Rich helps you save money on autopilot while allowing yourself to spend guilt-free on the things you enjoy.

Ramit Sethi’s blog started in his dorm room in 2004. After selling an ebook for a few dollars and seeing the magic of earning online, he doubled down. 15 years later, GrowthLab makes millions in annual revenue with online courses. His New York Times bestseller will help you cut costs in every area of life, splurge on the things you enjoy, and automate your retirement planning. A down-to-earth perspective from someone who’s done it.

• You’re the only one responsible for your financial problems.
• Know how much money you have coming in and then automatically direct it where you want it to end up.
• Start investing today, even if it’s just $1.

“We buy things we don’t need with money we don’t have to impress people we don’t like.” — Dave Ramsey

The Total Money Makeover shows you how to stop accepting debt as normal, eliminate it forever in small increments, and build the financial future you deserve in seven steps.

The Dave Ramsey Show is one of USA’s most popular radio shows ever. Ramsey helps people become debt-free, at which point they go on his show to talk about the experience. He also helps them with the emotional issues of tackling money and goes beyond mere mathematical tips. Ramsey encourages you to tackle your debts from small to large, then slowly start saving, and only invest after you’ve covered the basics. A rock-solid approach to finance.

• Before you do anything else, put away $1,000 in an emergency fund.
• Start paying down your debts, beginning with the smallest.
• Grow your emergency fund until you have at least a three-month buffer.

Best Finance Books For Retirement

“The fact is, none of us really has a choice: We are all playing the money game whether we want to or not. The only question is: Are we winning?” — David Bach

The Automatic Millionaire is an actionable, step-by-step plan for building wealth without being disciplined by relying on fixed percentages, small payments, and automated transactions.

When he was seven years old, his grandma took David Bach to McDonald’s. Over lunch, she told him there are three types of people in the world: those who eat at McDonald’s, those who work at McDonald’s, and those who invest in McDonald’s. Wow! Later, Bach became a vice president at Morgan Stanley. Today, he runs a consultancy and publishes books. 7 of 12 are New York Times bestsellers, and this one is his most practical template for building wealth.

• Saving a little every day will go a long way.
• Pay yourself first to take care of your financial future.
• Automatic payments allow you to invest in a disciplined manner without being disciplined yourself.

“Whatever your income, always live below your means.” — Thomas J. Stanley

The Millionaire Next Door shows you the simple spending and saving habits that lead to more cash in the bank than most people earn in their life while helping you avoid critical mistakes on your way to financial independence.

Stanley and his co-author William Danko studied people with normal incomes and high net worths for decades. The book helps you avoid becoming a UAW — an under-accumulator of wealth. Most people could save half their income. This book shows you why that’s worth the effort in the long run.

• Save responsibly from the moment you first start earning more than you need to live.
• Use a simple net worth formula to calculate if you’re falling short of your financial potential.
• Avoid economic outpatient care — spending too much money supporting others — to reach your goal.

Best Finance Books For Financial Freedom

“If you want to change the fruits, you will first have to change the roots. If you want to change the visible, you must first change the invisible.” — T. Harv Eker

Secrets Of The Millionaire Mind suggests our financial success is not determined from birth and shows us what to do to break through mental barriers and acquire the habits and thinking of the rich.

After an absolute rollercoaster of building, selling, losing, and failing at over a dozen businesses, T. Harv Eker analyzed his own relationship with money. He found he’d just emulated his parents’ financial strategies, and so do most of us. This book will help you undo the damaging aspects of that wiring and replace it with solid financial thinking and habits.

• You naturally tend to replicate your parents’ income strategies.
• If you want to control your finances, you first have to realize you’re the one at the wheel.
• Don’t despise rich people or you’ll never become rich yourself.

“Advice is one thing that is freely given away, but watch that you only take what is worth having.” — George S. Clason

The Richest Man In Babylon gives common-sense financial advice which you can apply today, told through tales and parables from the times of ancient Babylon.

George S. Clason, a soldier, businessman, and writer, was smart when he published this book in 1926. Instead of giving boring advice without any credibility, he wrapped his lessons into stories from the Babylonians. Generally believed to be an astonishing people, they lent George the power to transfer these lessons to us. The advice is as sound today as it was back then.

• Live below your means.
• Learn how to be lucky.
• Never take on debt.

“At the end of the day, all change is in your hands. Whether you want to be rich, get fit, or find love, no one can do the work but you. What you can and should do to succeed, however, is take all the help you can get.” — Niklas Göke

The 4 Minute Millionaire  is a collection of 44 short lessons sourced from the best finance books, each paired with an action item to help you get closer to financial freedom in just 4 minutes a day.

If you feel overwhelmed with managing your money or that you are too busy to invest, this book is for you. It’ll help you to finally start looking after your finances, and it’ll do so in a way that’s manageable in just 4 minutes a day. Everyone has 4 minutes a day, including you. The daily action items will make sure you implement what you learn, and if you’re already further along in your financial independence–journey, you can simply start with the later sections for some advanced investing techniques and ideas.

• Take pride in starting, even if you can only start small.
• Instead of avoiding risk and thus also avoiding wealth, you should manage it.
• There are 7 new asset classes that make it easy to get excited about investing.

We’ve summarized over 1,000 books to date, many of them about money. In our opinion, these are the best finance books of all time to start mastering money in your life.

Whether you’re recovering from an unlucky turn of events, suffering from bad financial habits picked up in childhood, or just not good at math, after diving into these books, you’ll soon create more financial breathing room in your life.

Improve your financial knowledge, reduce your spending, start saving and investing, and you’ll be well on your way to financial independence.

When it comes to taking control of your finances, the most important part is to start today.

“An investment in knowledge pays the best interest.” – Benjamin Franklin

Looking for more of the best books on various topics? Here are all the book lists we’ve made for you so far:

• The 60 Best Business Books of All Time (Will Forever Change How You Think About Organizations)
• The 20 Best Entrepreneurship Books to Start, Grow & Run a Successful Business
• The 21 Best Habit Books of All Time to Change Any Behavior
• The 33 Best Happiness Books of All Time That Everyone Should Read
• The 60 Best History Books of All Time (to Read at Any Age)
• The 7 Best Inspirational Books That Will Light Your Inner Fire
• The 40 Best Leadership Books of All Time to Help You Become a Truly Inspiring Person
• The 31 Best Motivational Books Ever Written
• The 12 Best Nonfiction Books Most People Have Never Heard Of
• The 35 Best Philosophy Books to Live Better and Become a Great Thinker
• The 34 Best Psychology Books That Will Make You Smarter and Happier
• The 25 Best Sales Books of All Time to Help You Close Any Deal
• The 33 Best Self-Help Books of All Time to Read at Any Age
• The 22 Best Books About Sex & Sexuality to Improve Your Love Life & Relationships
• The 30 Most Life-Changing Books That Will Shift Your Perspective & Stay With You Forever

Looking for more books by the world’s most celebrated authors? Here are all of the book lists by the author we’ve curated for you:

• All Brené Brown Books, Sorted Chronologically (and by Popularity)
• Jordan Peterson Books: All Titles in Order of Publication + The 5 Top Books He Recommends
• All Malcolm Gladwell Books, Sorted Chronologically (and by Popularity)
• All Michael Pollan Books, Sorted Chronologically (and by Popularity)
• Peter Thiel Books: A Comprehensive List of Books By, About & Recommended by Peter Thiel
• All Rachel Hollis Books: The Full List of Non-Fiction, Fiction & Cookbooks, Sorted by Popularity & the Best Reading Order
• All Ray Dalio Books, Sorted Chronologically (and by Popularity)
• All Robert Greene Books, Sorted Chronologically (and by Popularity)
• All Ryan Holiday Books, Sorted Chronologically (and by Popularity)
• All Simon Sinek Books, Sorted Chronologically (and by Popularity)
• All Tim Ferriss Books, Sorted Chronologically (and by Popularity)
• All Walter Isaacson Books, Sorted Chronologically (and by Popularity)

Last Updated on June 30, 2023

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10 financial literacy books for college students to add to their reading list.

Senior Associate, JPMorgan Chase

Let’s face it: college already comes with a fair amount of assigned reading depending on your major , so the thought of adding additional reading to your list probably seems daunting. However, financial literacy is a topic you may never study in school. But it’s a life skill that may become increasingly important as you progress through college and approach graduation , and you may need to bulk up your knowledge on the topic on your own.

Even if you don’t have an income, it’s not too early to learn more about personal finance and financial literacy.

Below is a list of books that can help you navigate your money life and aid you in setting yourself up for financial success.

This is by no means a comprehensive list of every financial literacy book out there, but it’s a starting point to build up knowledge and tools to build a secure financial future.

1. “Your Money Life: Your 20s” by Peter Dunn

Personal finance expert Peter Dunn offers readers in their twenties practical tips and strategies for paying off student loans, avoiding unnecessary debt, and creating effective budgeting. Dunn also provides guidance on determining how much to spend on groceries, transportation, and housing.

2. “Financial Freedom: A Proven Path to All the Money You Will Ever Need” by Grant Sabatier

Grant Sabatier provides students with tips and a step-by-step process to build wealth. He covers various topics, including how to increase your income with side hustles that can eventually form into small businesses, how to reduce your expenses, how to negotiate higher pay from your employer, and how to invest smartly to achieve financial independence.

3. “Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence” by Vicki Robin and Joe Dominguez

This book caters to college students looking to learn more about personal finance, with the ethos that you can incorporate good money habits without utilizing strict budgeting methods.

Some of the topics include:

• How to get out of debt and develop savings
• How to save money through mindfulness and good habits rather than strict budgeting
• How to declutter your life and live well for less
• How to invest your savings and begin creating wealth
• How to save the planet while saving money

4. “You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life” by Jason Vitug

Jason Vitug, a financial expert, helps college students and young adults set achievable financial goals and guides them on how to achieve those goals in this book. Students can learn how to budget, take control of their money, and how to set themselves up for a debt-free future.

Readers can expect:

• A step-by-step process to assess and improve their spending habits
• Exercises to help identify financial goals to create a customized savings strategy
• A framework for increasing income and spending money to materialize long-term goals

5. “Financial Literacy for Young Adults Simplified: Discover How to Manage, Save, and Invest Money to Build a Secure & Independent Future” by Raman Keane

Young adults and college students may be more financially vulnerable than other age group. This book explains how adopting the right money mindset can help individuals take control of their finances instead of being controlled by them.

A few things readers will discover in this book are:

• Discovering how to develop strong financial habits that can help lead to financial security without sacrificing your favorite things
• How to create a custom budget and build wealth
• Principles for investing
• Mistakes to avoid when investing

This book might be beneficial to college students with a part-time job or individuals with a full-time job saving for a down payment on their first house.

6. “Graduate Debt Free: Escaping the Student Loan Matrix” by David Shutler

Some students deciding whether to pursue higher education struggle with whether attending college is the right financial decision, how important selecting a major is, and other conundrums.

Author David Shutler explores these questions and analyzes misconceptions about attending college. In addition, he delves into scholarships and additional funding sources to help students navigate student debt and take charge of paying for college.

7. “Broke Millennial Takes on Investing: A Beginner’s Guide to Leveling Up Your Money” by Erin Lowry

Erin Lowry’s book is for college students and young adults who are interested in investing but don’t know where to start. The book provides guidance on common issues such as deciding whether or not to focus on paying off student loans, how to invest in a socially responsible manner, and whether low-cost investing apps are worth using. The author's goal is to help readers gain knowledge and confidence in investing.

8. “Money Rules: The Simple Path to Lifelong Security” by Jean Chatzky

Jean Chatzky aims to make the complicated money world easy for her readers to understand. She teaches straightforward but essential approaches to spending, saving, investing, increasing income, and building wealth and financial stability. This book may be helpful for students as it aims to simplify concepts that some may find confusing.

9. “The Financial Diet: A Total Beginner’s Guide to Getting Good with Money” by Chelsea Fagan

"The Financial Diet” gives readers tools to make a budget, understand investments, and deal with credit. It also digs deeper into money and how people spend money, including encouraging readers to look at the clothes in their closets and the food in their kitchens when thinking about their money life.

The book aims to teach readers:

• How to get better with money in a year
• Essential ingredients for a budget-friendly kitchen
• How to discuss uncomfortable financial topics with friends
• The most effective method for creating and sticking to a budget
• Tips for maintaining a household like a responsible adult
• Understanding the concept of investing and how to get started

10. “How to Adult: Personal Finance in the Real World” by Jake Cousineau

Jake Cousineau taught personal finance to high school students, and he’s bringing that experience, as well as his life experiences as a young professional, to this book for high school graduates, college students, and young adults who need to prepare for the financial realities that come with adulthood. Students can learn about various topics, ranging from compound interest to mutual funds to Roth IRAs and insurance deductibles.

Cousineau breaks down these topics by providing straightforward explanations, practical examples, anecdotes, and hands-on tools that will help students start their financial journey.

Final thoughts

It's important to start building your knowledge on financial topics that may not be covered in school, and the earlier you begin, the better.

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• Personal Finance
• Financial Literacy

The Ultimate Guide to Financial Literacy for Adults

Learn the skills now that you need for a more financially secure life

• Search Search Please fill out this field.

What Is Financial Literacy?

Personal finance basics.

• Bank Accounts
• Credit Cards
• How to Start Investing

The Bottom Line

Caleb has been the Editor-in-Chief of Investopedia since 2016. He is an award-winning media executive with more than 20 years of experience in business news, digital publishing, and documentaries. Caleb is the on the Board of Governors and Executive Committee of SABEW (Society for Advancing Business Editing & Writing), and his awards include a Peabody, EPPY, SABEW Best in Business, and two Emmy nominations.

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We know that the earlier you learn the basics of how money works, the more confident and successful you’ll be with your finances later in life. It’s never too late to start learning, but it pays to have a head start. The first steps into the world of money start with education.

Banking, budgeting, saving, credit, debt, and investing are the pillars that support most of the financial decisions that we’ll make in our lives. At Investopedia, we have more than 36,000 articles, terms, Frequently Asked Questions (FAQs), and videos that explore these topics. We’ve spent 25 years building and improving our resources to help you make smart financial and investing decisions.

This guide is a great place to start, and today is a great day to do it. Let’s begin with financial literacy —what it is and how it can improve your life.

Key Takeaways

• Financial literacy is the ability to understand and make use of a variety of financial skills.
• Those with higher levels of financial literacy are more likely to spend less income, create an emergency fund, and open a retirement account than those with lower levels.
• Some of the basics of financial literacy and its practical application in everyday life include banking, budgeting, handling debt and credit, and investing.

Financial literacy is the ability to understand and make use of a variety of financial skills, including personal financial management, budgeting, and investing. It also means comprehending certain financial principles and concepts, such as the time value of money , compound interest , managing debt, and financial planning.

Achieving financial literacy can help individuals to avoid making poor financial decisions. It can help them become self-sufficient and achieve financial stability. Key steps to attaining financial literacy include learning how to create a budget, track spending, pay off debt, and plan for retirement.

Educating yourself on these topics also involves learning how money works, setting and achieving financial goals, becoming aware of unethical/discriminatory financial practices, and managing financial challenges that life throws your way.

The Importance of Financial Literacy

In its National Financial Capability Study the Financial Industry Regulatory Authority (FINRA) found that Americans with higher levels of financial literacy were more likely to make ends meet, spend less of their income, create a three-month emergency fund, and open a retirement account than those with lower financial literacy.

Making informed financial decisions is more important than ever. Take retirement planning. Many workers once relied on pension plans to fund their retirement lives, with the financial burden and decision-making for pension funds borne by the companies or governments that sponsored them.

Today, few workers get pensions; instead, some are offered the option of participating in a 401(k) plan . This involves decisions that employees themselves have to make about contribution levels and investment choices. Even contributing to a 401(k) may not be enough to afford a comfortable retirement. And those without employer options need to actively seek out and open individual retirement accounts (IRAs) and other tax-advantaged retirement accounts .

Add to this people’s increasing life spans (leading to longer retirements), Social Security benefits that barely support basic survival, complicated health or other insurance options, more complex savings and investment instruments to select from—and a plethora of choices from banks, credit unions, brokerage firms, credit card companies, and more.

It’s clear that financial literacy is a must for making thoughtful and informed decisions, avoiding unnecessary levels of debt, helping family members through these complex decisions, and having adequate income in retirement.

Personal finance is where financial literacy translates into individual financial decision-making. How do you manage your money? Which savings and investment vehicles are you using? Personal finance is about making and meeting your financial goals, whether you want to own a home, help other members of your family, save for your children’s college education, support causes that you care about, plan for retirement, or anything else.

Among other topics, it encompasses banking, budgeting, handling debt and credit, and investing. Let’s take a look at these basics to get you started.

Introduction to Bank Accounts

A bank account is typically the first financial account that you’ll open. Bank accounts can hold and build the money you'll need for major purchases and life events. Here’s some background on bank accounts and why they are step one in creating a stable financial future.

Why Do I Need a Bank Account?

Though the majority of Americans do have bank accounts, 6% of households in the United States still don’t have one. Why is it so important to open a bank account? Because it’s safer than holding cash. Assets held in a bank are harder to steal, and in the U.S., they’re generally insured by the Federal Deposit Insurance Corporation (FDIC) . That means you should always have access to your cash, even if every customer decides to withdraw their money at the same time.

Many financial transactions require you to have a bank account to:

• Use a debit or credit card
• Use payment apps like Venmo or PayPal
• Write a check
• Buy or rent a home
• Receive your paycheck from your employer
• Earn interest on your money

Online vs. Brick-and-Mortar Banks

When you think of a bank, you probably picture a building. This is called a brick-and-mortar bank. Many brick-and-mortar banks also allow you to open accounts and manage your money online.

Some banks are only online and have no physical buildings. These banks typically offer the same services as brick-and-mortar banks, aside from the ability to visit them in person.

Which Type of Bank Can I Use?

Retail banks : This is the most common type of bank at which people have accounts. Retail banks are for-profit companies that offer checking and savings accounts, loans, credit cards, and insurance. Retail banks can have physical, in-person buildings that you can visit or they can be online only. Most offer both options. Banks’ online technology tends to be advanced, and they often have more locations and ATMs nationwide than credit unions do.

Credit unions : Credit unions provide savings and checking accounts, issue loans, and offer other financial products, just like banks do. However, they are not-for-profit organizations owned by their members. Credit unions tend to have lower fees and better interest rates on savings accounts and loans. Credit unions are sometimes known for providing more personalized customer service, though they usually have far fewer branches and ATMs.

Assets held in a credit union are insured by the National Credit Union Administration (NCUA) , which is equivalent to the FDIC for banks.

What Types of Bank Accounts Can I Open?

There are three main types of bank accounts that the average person may want to open:

1. Savings account : A savings account is an interest-bearing deposit account held at a bank or other financial institution. Savings accounts typically pay a low interest rate, but their safety and reliability make them a sensible option for saving available cash for short-term needs.

They may have some legal limitations on how often you can withdraw money . However, they’re generally very flexible so they’re ideal for building an emergency fund, saving for a short-term goal like buying a car or going on vacation, or simply storing extra cash that you don’t need in your checking account.

2. Checking account : A checking account is also a deposit account at a bank or other financial institution that allows you to make deposits and withdrawals. Checking accounts are very liquid, meaning that they allow numerous withdrawals per month (as opposed to less liquid savings or investment accounts) though they earn little to no interest.

Money can be deposited at banks and ATMs, through direct deposit, or through another type of electronic transfer. Account holders can withdraw funds via banks and ATMs, by writing checks, or using debit cards linked to their accounts.

You may be able to find a checking account with no fees. Others have monthly and other charges (such as for overdrafts or using an out-of-network ATM) based on, for example, how much you keep in the account or whether there’s a direct deposit paycheck or automatic withdrawal mortgage payment connected to the account.

Lifeline and  second-chance accounts , available at some banks, can help those who have difficulty qualifying for a traditional checking account.

3. High-yield savings account : A high-yield savings account usually pays a much higher rate of interest than a standard savings account. The tradeoff for earning more interest on your money is that high-yield accounts tend to require bigger initial deposits, larger minimum balances, and higher fees.

You might be able to open a high-yield savings account at your current bank, but online banks tend to have the highest interest rates.

What’s an Emergency Fund?

An emergency fund is not a specific type of bank account but can be any source of cash that you’ve saved to help you handle financial hardships like job losses, medical bills, or car repairs. Here's how they work:

• Most people use a separate savings account for their emergency savings.
• The account should eventually total enough to cover at least three to six months’ worth of expenses.
• Emergency fund money should be off-limits for paying regular expenses.

Introduction to Credit Cards

You know them as the plastic cards that (almost) everyone carries in their wallets. Credit cards are accounts that let you borrow money from the credit card issuer and pay it back over time. For every month that you don’t pay back the money in full, you’ll be charged interest on your remaining balance . Note that some credit cards, called charge cards , require you to pay your balance in full each month. However, these are less common.

What’s the Difference Between Credit and Debit Cards?

Here is the difference :

Debit cards take money directly out of your checking account. You can’t borrow money with debit cards, which means that you can’t spend more cash than you have in the bank. And debit cards don’t help you to build a credit history and credit rating .

Credit cards allow you to borrow money and do not pull cash from your bank account. This can be helpful for large, unexpected purchases. But carrying a balance every month—not paying back in full the money that you borrowed—means that you’ll owe interest to the credit card issuer. In fact, as of Q1 2024, Americans owed $1.12 trillion in credit card debt. So be very careful about spending more money than you have, because debt can build up quickly and become difficult to pay off.

On the other hand, using a credit card judiciously and paying your credit card bills on time helps you establish a credit history and a good credit rating. It’s important to build a good credit rating not only to qualify for the best credit cards but also because you will get more favorable interest rates on car loans, personal loans, and mortgages.

What Is APR?

APR stands for annual percentage rate. This is the amount of interest that you’ll owe the credit card issuer on any unpaid balance. You’ll want to pay close attention to this number when you apply for a credit card. A higher number can cost you hundreds or even thousands of dollars if you carry a large balance over time. The median APR today is nearly 25% , but your rate may be higher if you have bad credit . Interest rates also tend to vary by the type of credit card.

Which Credit Card Should I Choose?

Credit scores have a big impact on your odds of getting approved for a credit card. Understanding what range your score falls into can help you narrow the options as you decide on the cards for which you may apply. Beyond your credit score, you’ll also need to decide which perks best suit your lifestyle and spending habits.

If you’ve never had a credit card before, or if you have bad credit, you’ll likely need to apply for either a secured credit card or a subprime credit card . By using one of these and paying back on time, you can raise your credit score and earn the right to credit at better rates.

If you have a fair to good credit score, you can choose from a variety of credit card types, such as:

• Travel rewards cards : These credit cards offer points redeemable for travel—including flights, hotels, and rental cars—with each dollar you spend.
• Cash-back cards : If you don’t travel often—or don’t want to deal with converting points into real-life perks—a cash-back card might be the best fit for you. Every month, you’ll receive a small portion of your spending back, in cash or as a credit to your statement.
• Balance transfer cards : If you have balances on other cards with high interest rates, transferring your balance to a lower-rate credit card could save you money, help you pay off balances, and help improve your credit score.
• Low- or No-APR cards : If you routinely carry a balance from month to month, switching to a credit card with a low or no APR could save you hundreds of dollars per year in interest payments.

Be aware of your protections under the Equal Credit Opportunity Act (ECOA) . Research credit opportunities and available interest rates, and be sure that you are offered the best rates for your particular credit history and financial situation.

How to Create a Budget

Creating a budget is one of the simplest and most effective ways to control your spending, saving, and investing. You can’t begin to improve your financial health if you don’t know where your money is going, so start tracking your expenses against your income. Then set clear goals.

One budget template that helps individuals reach their goals, manage their money, and save for emergencies and retirement is the 50/20/30 budget rule : spending 50% on needs, 20% on savings, and 30% on wants.

How Do I Create a Budget?

Budgeting starts with tracking how much money you receive and spend every month. You can do this in an Excel sheet, on paper, or with a budgeting app . It’s up to you. However you decide to track, clearly lay out the following:

• Income : List all sources of money that you receive in a month, with the dollar amount. This can include paychecks, investment income, alimony, settlements, and money that you make from side jobs or other projects, such as selling crafts.
• Expenses : List every purchase that you make in a month, split into two categories: fixed expenses and discretionary spending . Review your bank statements, credit card statements, and brokerage account statements to be sure to capture them all. Fixed expenses are the purchases that you must make every month. Their amounts don’t change (or change very little) and are considered essential. They include rent/mortgage payments, loan payments, and utilities. Discretionary spending is nonessential spending or varying purchases for things like restaurant meals, shopping, clothes, and travel. Consider your wants rather than needs.
• Savings : Record the amount of money that you’re able to save each month, whether it’s in cash, cash deposited into a bank account, or money that you add to an investment account or retirement account like an IRA or 401(k) (if your employer offers one).

Subtract your total expenses from your total income to get the amount of money you have left at the end of the month. Now that you have a clear picture of money coming in, money going out, and money saved, you can identify which expenses you can cut back on, if necessary.

If you don’t already have one, put your extra money into an emergency fund until you’ve saved at least three to six months’ worth of expenses (in case of a job loss or other emergency). Don’t use this money for discretionary spending. The key is to keep it safe and grow it for times when your income decreases or stops.

How to Start Investing 

Once you have enough savings to start investing, you’ll want to learn the basics of where and how to invest your money. Decide what to invest in and how much to invest by understanding the risks (and potential rewards) of different types of investments.

What Is the Stock Market?

The stock market refers to the collection of markets and exchanges where stock buying and selling takes place. The terms “stock market” and “stock exchange” can be used interchangeably. And even though it’s called a stock market, other financial securities , such as exchange-traded funds (ETFs) , corporate bonds , and derivatives based on stocks, commodities, currencies, and bonds, are also traded there. There are multiple stock trading venues. The leading stock exchanges in the U.S. include the New York Stock Exchange (NYSE) , Nasdaq , and the Cboe Options Exchange .

How Do I Invest?

To buy stocks , you need to use a broker . This is a professional person or digital platform whose job it is to handle the transaction for you. For new investors, there are three basic categories of brokers:

• A full-service broker who manages your investment transactions and provides advice for a fee.
• An online/discount broker that executes your transactions and provides advice depending on how much you have invested. Examples include Fidelity, TD Ameritrade, and Charles Schwab.
• A robo-advisor that executes your trades and can pick investments for you with little human assistance. Examples include Betterment, Wealthfront, and Schwab Intelligent Portfolios.

What Should I Invest in?

There’s no right answer for everyone. Which securities you buy, and how much you buy, will depend on the amount of money that you have available for investing and how much risk you’re willing to take to try to earn a higher return. Here are the most common securities to invest in, listed in descending order of risk:

Stocks : A stock (also known as “shares” or “equity”) is a type of investment that signifies partial ownership in the issuing company. This entitles the stockholder to a proportion of the corporation’s assets and earnings.

Owning stock gives you the right to vote in shareholder meetings, receive dividends (which come from the company’s profits) if and when they are distributed, and sell your shares to somebody else.

The price of a stock fluctuates throughout the day and can depend on many factors, including the company’s performance, the domestic economy, the global economy, the day’s news, and more. Stocks can rise in value, fall in value, or even become worthless, making them more volatile and potentially riskier than many other types of investments.

ETFs : An exchange-traded fund, or ETF, consists of a collection of securities, such as stocks. It often tracks an underlying index . ETFs can invest in any number of industry sectors or use various strategies.

Think of an ETF as a pie containing many different securities. When you buy shares of an ETF, you’re buying a slice of the pie, which contains slivers of the securities inside. This lets you purchase a variety of stocks at once, with the ease and convenience of only one purchase—the ETF.

In many ways, ETFs are similar to mutual funds. For instance, they both offer instant diversification and are professionally managed. However, ETFs are listed on exchanges and ETF shares trade throughout the day just like ordinary stocks.

Investing in ETFs is considered less risky than investing in individual stocks because there are many securities inside the ETF. If some of those securities fall in value, others may stay steady or rise in value.

Mutual funds : A mutual fund is a type of investment consisting of a portfolio of stocks, bonds, or other securities. Mutual funds give small or individual investors access to diversified, professionally managed portfolios at a low price.

There are many categories of mutual funds, representing the kinds of securities in which they invest, their investment objectives, and the type of returns that they seek. Most employer-sponsored retirement plans invest in mutual funds.

Investing in shares of a mutual fund is different from investing in individual shares of stock because a mutual fund owns many different stocks (or other securities). Unlike stocks or ETFs that trade at varying prices throughout the day, mutual fund purchases and redemptions​ take place only at the end of each trading day and at a fund's net asset value (NAV) . Similar to ETFs, mutual funds are considered less risky than stocks because of their diversification .

Mutual funds charge annual fees, called expense ratios , and in some cases, commissions.

Bonds : Bonds are issued by companies, municipalities, states, and sovereign governments to finance projects and operations. When an investor buys a bond, they’re effectively lending their money to the bond issuer, with the promise of repayment plus interest. A bond’s coupon rate is the interest rate that the investor will earn.

A bond is referred to as a fixed-income instrument because bonds traditionally have paid a fixed interest rate to investors, although some bonds pay variable interest rates . Bond prices inversely correlate with interest rates. When rates go up, bond prices fall, and vice versa. Bonds have maturity dates, which are the point in time when the principal amount must be paid back to the investor in full or the issuer will risk default.

Bonds are rated by how likely the issuer is to pay you back. Higher-rated bonds, known as investment-grade bonds, are viewed as safer and more stable. Such offerings are tied to publicly traded corporations and government entities that boast positive outlooks.

Investment grade bonds receive “AAA” to “BBB-” ratings from Standard and Poor’s and “Aaa” to “Baa3” ratings from Moody’s. Bonds with higher ratings will usually pay lower rates of interest than those with lower ratings. U.S. Treasury bonds are the most common AAA-rated bond securities.

Are Banks Safe?

Most bank accounts in the United States are insured by the Federal Deposit Insurance Corporation (FDIC) up to certain limits, currently defined as “up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category.” If you have a great deal of money to put in the bank, you can make sure that it’s all covered by opening multiple accounts.

Is It Safe to Invest in the Stock Market?

Stocks are inherently risky—some more than others—and you can lose money if their share prices fall. Brokerage accounts are insured by the Securities Investor Protection Corporation for up to $500,000 in securities and cash. However, that applies only if the brokerage firm fails and is unable to repay its customers. It does not cover normal investor losses.

What Is the Safest Investment?

U.S. Treasury securities, including bonds, bills, and notes, are backed by the U.S. government and generally are considered the safest investments in the world. However, these kinds of investments tend to pay low rates of interest, so investors do face a risk that inflation may erode the purchasing power of their money over time.

The topics in this article are just the beginning of a financial education, but they cover the most important and frequently used products, tools, and tips for getting started. If you’re ready to learn more, check out these additional resources from Investopedia:

• Investopedia YouTube Channel
• Investopedia Dictionary
• Investopedia Stock Market Simulator

FINRA. " National Study by FINRA Foundation Finds U.S. Adults’ Financial Capability Has Generally Grown Despite Pandemic Disruption ."

Federal Reserve System. " Economic Well-Being of U.S. Households in 2023 ," Page 35.

Federal Deposit Insurance Corporation. “ What’s Covered: Are My Deposit Accounts Insured by the FDIC? ”

National Credit Union Administration (NCUA). " Mission and Values ."

Federal Reserve Bank of New York. " Household Debt Rose by $184 Billion as of Q1 2024; Delinquency Transition Rates Increased Across All Debt Types ."

S&P Global. " S&P Global Ratings Definitions ."

Moody's. " Rating Scale and Definitions ."

Federal Deposit Insurance Corporation. “ Deposit Insurance FAQs .”

Securities Investor Protection Corporation. “ Mission .”

U.S. Securities and Exchange Commission. " Treasury Securities ."

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12 Best Financial Literacy Books To Build Financial Confidence

Do you know what's just as exciting as playing your favorite video game or reading your favorite storybook? It's reading financial literacy books! Now, I know what you're thinking, Financial literacy?

Sounds boring! But hold on a second because learning about money can actually be really fun and rewarding.

Think about it, with money, you can buy all sorts of cool things, like the latest gadgets or even a trip to your favorite place! And the more you know about how to manage your money, the more you can make it work for you.

So, whether you're an employee or a young adult, reading financial literacy books is a great way to start your journey toward financial freedom and success.

Benefits Of Reading Financial Literacy Books

If you're looking to improve your financial life, reading financial literacy books is a great way to start. It has some great benefits.

Reading financial literacy books can help you better understand personal finance concepts. These books can give you the knowledge you need to make better financial decisions. It can provide information from budgeting and saving to investing and retirement planning.

It can also help you develop better financial habits and behaviors. By learning about personal finance and money management, you may be more likely to increase your net worth.

Employers can encourage employees to read financial literacy books. They can provide access to books or financial education resources. This can promote financial wellness in the workplace.

Suggested Read: Achieving Financial Wellness Through Money Affirmations

12 Top Financial Literacy Books Of All Time

1. the simple path to wealth by j.l collins.

"The Simple Path to Wealth" by J.L Collins is a fantastic book. It is helpful to anyone who wants to learn about personal finance and investing.

The author, J.L Collins, has an engaging writing style that is easy to understand. He breaks down complex financial concepts into simple terms. He uses examples and analogies that are relatable and easily understood.

For example, he compares investing to planting a tree. Just as a tree needs time to grow, investing takes time to mature and bear fruit.

One of the book's most important lessons is the power of saving and investing early. The author stresses the importance of saving and investing as early as possible. He explains how compounding works and how even small money can grow significantly over time.

The author also stresses the importance of being frugal and avoiding unnecessary expenses. He explains how small expenses can add to your savings over time.

2. The Millionaire Next Door by Thomas J. Stanley and William D. Danko

"The Millionaire Next Door" is a book about how people become millionaires and what kind of habits and lifestyles they have. The book is written by Thomas J. Stanley and William D. Danko. It is filled with interesting facts and stories that can help you understand the importance of saving and investing.

The book's authors studied the habits and lifestyles of over 1,000 millionaires. He found that most of them had one thing in common: they lived below their means. This means they didn't spend all their money on expensive things like fancy cars or big houses. Instead, they saved their money and invested it in things that would help them earn more in the long run.

The authors also found that many millionaires started businesses or worked in well-paid industries. They were willing to work hard and take risks to achieve their financial goals.

Another interesting fact from the book is that many millionaires don't flaunt their wealth. They may drive older cars, wear simple clothes, and live in modest houses. This shows that it's not about how much money you spend but how much you save and invest.

“Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.” - Thomas J. Stanley

3. Rich Dad Poor Dad by Robert Kiyosaki

"Rich Dad Poor Dad" by Robert Kiyosaki is a great book for people to learn about personal finance. The book tells the story of two dads. His biological father (Poor Dad) and his best friend's father (Rich Dad) - and the lessons he learned from them.

The author explains that the Poor Dad believed that the key to success was getting a good job and working hard. On the other hand, the Rich Dad believed that the key to success was to become financially literate. And also to learn how to make money work for you. The book teaches the importance of financial education and how it can help achieve financial goals.

The author also discusses the importance of taking risks and investing in income-generating assets. He explains that many people focus on buying liabilities instead of investing in assets.

Buying liabilities are things that take money out of your pocket, like cars and houses. Whereas investing in assets puts money into your pocket, like stocks and real estate.

Another key takeaway from the book is the importance of learning from your mistakes. The author talks about how he learned from his failures and used them as a stepping stone to success. It shows that mistakes are okay and one can learn from them and grow.

4. The Richest Man In Babylon by George Samuel Clason

"The Richest Man In Babylon" is a classic book by George Samuel Clason on personal finance and money management. The financial advice is presented in parables and stories, making it engaging and interesting.

The book is set in ancient Babylon and tells the story of a man named Arkad. He becomes the richest man in the city and shares his secrets of wealth with a group of people. These secrets are the basis of the book's financial advice.

Some of the key lessons from the book include the importance of saving money and the value of hard work. It also stresses on the power of compound interest.

5. The Total Money Makeover by Dave Ramsey

"The Total Money Makeover" by Dave Ramsey is a great book. It is written for the ones who want to learn how to manage their money. It provides insights into financial success. The book provides a step-by-step plan for getting out of debt, building wealth, and achieving financial freedom.

The author explains that the key to financial success is to avoid debt. He provides practical advice on creating a budget, saving money, and investing in your future. It shows that you don't need much money to become financially successful. Instead, it's about making smart decisions with the money you have.

The book also teaches the importance of setting and working towards financial goals. The author encourages readers to envision their future and set specific, measurable, and achievable goals. It shows that having a plan and working towards it can help achieve financial dreams.

One of the key takeaways from the book is the importance of having an emergency fund. The author explains that unexpected expenses can derail your financial plans. Hence, it's important to have money set aside for emergencies.

6. Your Money or Your Life by Vicki Robin and Joe Dominguez

"Your Money or Your Life" is a fantastic book that teaches us how to manage money wisely. Vicki Robin and Joe Dominguez have explained how to save, spend, and achieve financial independence.

The book is full of practical tips and tools to help us take control of our finances. One of the most important lessons that the book teaches us is the concept of tracking our spending. This means keeping track of every penny we spend. This way, we can see where our money is going and adjust our spending habits.

Another important lesson that the book teaches us is the concept of valuing our time. We often spend money on things that don't bring us much joy or happiness. And the book teaches us to consider the real cost of our purchases. That is regarding the time and effort it takes to earn the money to pay for them.

The book also explains the difference between saving and investing. It provides practical tips on saving and investing our money for the future.

Suggested Read: Master Your Finances With The 60 30 10 Rule Budget

7. The Intelligent Investor by Benjamin Graham

"The Intelligent Investor" book teaches us how to invest our money wisely. Benjamin Graham, the author of the book, is one of the most famous investors in the world.

The book instructs us on the concept of value investing, which means buying undervalued stocks and holding them for the long term. It also teaches us how to analyze financial statements to decide which companies to invest in.

One of the most important lessons that the book provides is the importance of diversification. This means spreading our investments across different companies and industries to reduce risk. The book suggests avoiding buying and selling stocks based on short-term fluctuations in the stock market.

The Intelligent Investor is not just a book for people who want to invest in the stock market. It is also a book for people who want to learn how to think like an investor. It teaches us the importance of discipline and patience and provides practical tips on developing these qualities.

It is a great book for anyone who wants to learn how to invest their money. It has valuable insights and practical tips that we can use immediately.

8. The Bogleheads' Guide to Investing by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf

"The Bogleheads' Guide to Investing" is a great book that teaches us to invest. The Bogleheads are a group of people who follow the investment philosophy of John Bogle, the founder of Vanguard. Vanguard is one of the largest investment companies in the world.

The book teaches us the concept of passive investing. This means investing in low-cost index funds and holding them long-term. It also teaches us how to diversify our investments across asset classes, such as stocks and bonds, to reduce risk.

One of the most important lessons that the book teaches us is the importance of keeping our costs low. This means investing in low-cost index funds and avoiding high-fee mutual funds and financial advisors. The book also teaches us to manage our taxes so that we can keep more of our money in our pockets.

It is a book for people who want to invest in the stock market. It stresses on the importance of saving and investing money for the future.

“Holding out until you get your price to sell an investment is playing a fool’s game.” - Taylor Larimore

9. The Psychology of Money by Morgan Housel

"The Psychology of Money" is a fascinating book that teaches us how to think about money more constructively. The author of the book Morgan Housel is a financial writer.

The book teaches us the concept of financial psychology, which means how our thoughts and emotions influence our money decisions. It also teaches us how to develop a healthy relationship with money to make better financial decisions.

One of the most important lessons that the book teaches us is the importance of time when it comes to money. It provides insight on money for the long run. It focuses on avoiding impulsive decisions that could hurt our financial future.

The book also teaches us the importance of perspective regarding money. It inspires us to think about money in terms of our values and priorities rather than just as a number in a bank account.

10. The Automatic Millionaire by David Bach

"The Automatic Millionaire" is a fantastic book that teaches how to become a millionaire without much effort. David Bach, the book's author, has a lot of experience helping people achieve their financial goals.

The book teaches us the concept of paying ourselves first. This means that every time we get paid, we should put a certain amount of money into our savings account. It should be done before we pay any of our bills or expenses. This helps us build our savings over time, and it can eventually lead to becoming a millionaire.

The book also teaches us the importance of automating our finances. This means setting up automatic payments for our bills and automatic transfers for our savings. By automating our finances, we can avoid late fees and save time and effort.

One of the most important lessons that the book teaches us is the concept of the latte factor. This means that small daily expenses, like buying a latte or eating out, can add up over time. This, in turn, can prevent us from building our savings.

In short, the book teaches us how to identify our latte factor. And also to make small changes to our spending habits so as to save more money.

11. Money Master the Game by Tony Robbins

"Money Master the Game" is an excellent book that teaches us how to achieve financial freedom and build wealth. Tony Robbins, the book's author, is a well-known motivational speaker and financial coach. He has a lot of experience helping people achieve their financial goals.

The book teaches us the importance of having a plan for money. It instructs us to set financial goals and create a roadmap. It also edifies us how to create a budget and to live within our means, so we can save more money and invest it for the future.

One of the most important lessons that the book provides is the concept of asset allocation. This means diversifying our investments across different asset classes. For example - stocks, bonds, and real estate.

The book upskills the readers on how to choose low-cost index funds. And also to avoid high-fee mutual funds to maximize our returns.

The book also includes interviews with some of the world's most successful investors and financial experts. These interviews provide valuable insights and advice on investing and building wealth.

12. Think and Grow Rich by Napoleon Hill

"Think and Grow Rich" by Napoleon Hill is a great book that teaches us about the secrets of wealth and success. The book has been around for a long time and is still popular today because the advice it gives is timeless and applicable to anyone, young or old.

The author, Napoleon Hill, was a very successful businessman and writer. He spent many years studying successful people and trying to figure out what made them successful. He has shared his findings in the book.

The book is divided into chapters that cover different topics, such as desire, faith, imagination, and persistence. Each chapter teaches us about an important aspect of success and provides examples of people who have used these principles to achieve great things.

One of the most important lessons in the book is that we can achieve anything we want if we have a burning desire for it. We need to be passionate about our goals and be willing to work hard to achieve them. We need to have faith in ourselves and our abilities and use our imagination to create a clear picture of what we want to achieve.

Recommended Read: 10 Best Financial Wellness Apps in 2024

A Word From Us

Improving your financial literacy can help you reduce financial stress. It can positively impact your job satisfaction and performance. You'll feel more in control of your finances, which can help you focus on your work and be more productive.

So, consider picking up a financial literacy book from the above list to improve your financial literacy. Your wallet will thank you!

Frequently Asked Questions (FAQs)

1. What are some tips for choosing the right financial literacy book?

Identify the topic you want to learn about. Read reviews and ratings. Consider the author's credentials. And finally, choose a book that is easy to read and understand.

2. Where can I find financial literacy books?

You can find these books in local libraries, e-commerce sites like Amazon, online bookstores, and secondhand bookstores.

3. What are the benefits of reading financial literacy books?

Reading these books can increase financial knowledge and provide tips and strategies for managing money. It can also help with creating a budget, debt reduction, and retirement planning.

This article is written by Ritushree R Singh , who is a content writer and marketer at Vantage Circle . Besides having a curious heart with an avid taste for music, she relishes traveling to new places and exploring different cultures whenever possible. To get in touch, reach out to [email protected]

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