There’s no doubt about it; the internet is an excellent advancement in technology that has allowed us to explore an almost infinite amount of modern human knowledge. But let’s be honest, it can sometimes be a little overwhelming in terms of information. If you’re looking for information on personal finance, a book is often the best route to take. Thus the following includes 10 finance books you must read and why they matter.
Best personal finance books
1. “The Little Book of Common Sense Investing” by John C. Bogle
If you look at social media and even some news channels, you’ll see them talking about the hottest new company and why you should buy their stock now. In The Little Book of Common Sense. Bogle states that if you’re looking to invest, placing your money into the S&P 500 will actually provide you with better returns than stock over the long term. This book is excellent for those who may not want to fiddle around with stocks and have time for them to grow.
Get the book here: The Little Book of Common Sense Investing
2. “The Total Money Makeover” by Dave Ramsey
You can’t invest in your future if you’re not in a position to do so. That is why in this book, Dave Ramsey takes you through a series of “baby steps” for you to finally get yourself out of debt and live a free and happy life. Thus, giving you more time and money to begin investing and enjoying life.
Get the book here: The Total Money Makeover
We help thousands of South Africans reduce monthly debt costs, protect their assets, and stay out of court—find out what we can do for you.
3. “Think And Grow Rich” by Napoleon Hill
Older finance books tend to be looked over because of the misconception that they are not irrelevant. However, speak to any financial advisor. They will tell you that the economy tends to repeat history over and over again.
In this all-time bestseller, first published in 1937, Napolean Hill interviews several successful icons of the financial world, including John D. Rockefeller and Henry Ford. They discuss the basics of sound personal finances and the importance of having mental strength during tough economic times.
Learn more about the book here: Think And Grow Rich
4. “Broke Millennial” by Erin Lowry
Another common complaint about older books is that they tend to have language that only older audiences understand. Erin Lowry understood the need for a finance book that serves a younger generation and crafted the “Broke Millennial.”
This book uses language that millennials and Gen Z age groups can understand. Therefore, it is often highly recommended for younger readers.
Learn more about the book here: Broke Millennial
5. “I Will Teach You To Be Rich” by Ramit Sethi
At first glance, this title may make you think it’s a get-rich-quick scheme. However, as you delve deeper into the chapters, Sethi begins to introduce various steps that are practical, easy to implement, and can genuinely increase your wealth.
These are simple yet effective tasks you can complete, such as how to turn on your automatic savings feature on your debit card and how to choose the right bank.
Learn more about the book here: I Will Teach You to Be Rich
6. “You Are a Badass at Making Money” by Jen Sincero
Sometimes, the only thing holding your personal finances back is yourself. This book is highly recommended because Jen Sincero understands this, which is why she does not focus on what you can do with a credit card or your budget but instead on how you can change your attitude and focus on your personal finances the right way.
Get the book here: You Are a Badass at Making Money
7. “The Automatic Millionaire” by David Bach
Sometimes, all it takes is few small steps for you to begin growing your bank account. In the “Automatic Millionaire,” David Bach goes in-depth regarding a plan to start to get rich steadily. Bach’s theory is that you can do this by forming an automatic investment plan. For example, paying yourself first on payday will allow you to get some money and use it towards investments or savings.
Get the book here: The Automatic Millionaire
8. “The Richest Man in Babylon” by George S. Clason
Another classic, “The Richest Man in Babylon” by George S. Clason, provides readers, not with steps but rather a series of stories. In each of those stories, you will learn lessons on personal finances. Some of these lessons include questioning financial advice or a plan that is put forth for you and the importance of living within your means.
Listen on Audible here: The Richest Man in Babylon
9. “Why Didn’t They Teach Me This in School?” Cary Siegel
Have you ever sat down to create a budget or pay bills and wondered, “why didn’t they teach me this in school?” This book is a must-read book because Cary Siegel goes over 99 principles that will help young adults barely entering the world handle their personal finances.
Get the book here: Why Didn’t They Teach Me This in School?
10. “The One-Page Financial Plan” by Carl Richards
In this book, Carl Richards presents a plan of attack when unexpected financial hardships hit your life. The book takes out all the mystery and fear of sitting down and beginning to rearrange your personal finances with a simple plan that won’t just mediate the issue but, of course, the plan fits on a single page too.
Learn more about the book here: The One-Page Financial Plan
Final thoughts
Schools don’t always teach the necessary skills that allow us to effectively manage our finances and steadily grow our wealth (or avoid debt). That is why it is so important to take the time to read about investing, saving, and managing money.
Don’t wait. Start learning today. Make a point to get at least one of these books. You won’t regret reading more about how to manage your money.
If you enjoyed this article, you might also enjoy reading our blog post on making money online or the best extra income opportunities in South Africa.
We help thousands of South Africans reduce monthly debt costs, protect their assets, and stay out of court—find out what we can do for you.
