One of the big characteristics of successful people is they are usually avid readers. Are your finances in trouble? Causing you stress? Do you have negative opinions on money that you may have picked up from your childhood? Pick up a book. These 5 personal finance books have changed my life and they can change the way you think about money.
Not a big reader?
As much as I love to read, I just have trouble finding the time so I am OBSESSED with audiobooks.
But with many of the popular ones cost upwards of $20-$25 + I just don’t want to spend that kind of money. Have you heard of Audible.com? They have a ton of audiobooks. All the classics plus all the new releases.
You can download all your purchases and keep them even if you cancel.
I want to skip right past the fluff today and share these books that have made a huge impact on my life with the hopes that they will do the same for you.
The Richest Man in Babylon
by George S. Clason
This classic was written in 1926 yet its principles still hold true today!
If you’re not a fan of “self-help” type books this one should be on the top of your list!
It’s written in more of a lesson-teaching-story-style (ok, I know that’s not really a thing) based on stories from ancient Babylon and is a very easy read!
The Richest Man in Babylon will help you build a solid strategy to save money by teaching simple financial lessons and forming good money habits that will stand the test of time just like this book has!
Rich Dad Poor Dad
by Robert Kiyosaki
Robert Kiyosaki is a financial genius!
I’ve seen him speak in person before and he is smart, funny, and brutally honest! Rich Dad Poor Dad tells the story of Kiyosaki’s “2 Dads” as he was growing up.
His “rich dad” – is his friend’s father and his “poor dad” – is his real father.
He teaches the valuable, yet very different lessons he learned from each Dad and how they affected the trajectory of his life.
This book is at the top of my list because it presents some very interesting and thought-provoking ideas about money that I hadn’t heard anywhere else.
The Millionaire Next Door
by Thomas J. Stanley
This popular personal finance book opened many peoples’ eyes to the surprisingly frugal that many millionaires actually live.
Many people assume that all millionaires live lavish lifestyles because that’s what our society advertises these days, but that’s simply not the case.
The Millionaire Next Door outlines 7 common traits that most millionaires possess. Some of them might shock you.
I Will Teach You to Be Rich
by Ramit Sethi
If you’re younger or just recently interested in your finances this might be a great place to start.
I Will Teach You to Be Rich is jam-packed with solid financial information but written in a very laid-back easily understood tone.
If you find too much investment chatter and retirement talk confusing then you will be pleasantly surprised with how relatable this book is.
It also includes lots of step-by-step instructions so be sure to grab your highlighter.
The Total Money Makeover
by Dave Ramsey
This book is one of my all-time favorites.
If you’ve been to my site before you probably know how Dave Ramsey’s was the first step in our financial journey.
I credit his Financial Peace program with helping us pay off $54,500 of debt in only 20 months and I like his books as much as I liked his course.
The Total Money Makeover lays out Ramsey’s 7 Baby Steps to financial freedom and gives you a framework to pay off your debt, save money, and achieve financial peace in your life.
Love him or hate him, I still think this book is a must-read.
Bonus Book: Smart Money Smart Kids
by Dave Ramsey & Rachel Cruze
I thought it important to include this book in the list as well because as you are learning how to re-train your own brain in how you think about money, it’s also very important to learn helpful and positive tips on how to teach our kids about money as well.
So many of us are brought up with warped views on money and once we learn how to shift our money mindsets the next step is to be sure we don’t plague our children with the very same limiting beliefs.
Smart Money Smart Kids offers many suggestions and solutions to common money issues surrounding adolescents: how to save money, buy their first car, and even how to put them through college without taking out student loans. If you are a parent, you need to read this.
You’ve reached the end of our list and I hope you found some new additions to your reading list in this post. I encourage you to take some time to read some (if not all) of these books or you can listen to them here for free if you prefer. They would also make great gifts for your teen or grown children or any friends/family that may need some gentle financial guidance.
Kristin Stones is the owner of Cents + Purpose, an online community dedicated to sharing practical personal finance content. Her mission is to equip women with the necessary tools and knowledge to take back control of their money and live a more purposeful life. She creates actionable content to help her audience achieve financial wellness using her simple approach to managing money - all learned through her personal experience of paying off almost $55,000 of debt in under two years.