9 Best Personal Finance Books Everyone Should Read

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book illustration

Learning how to manage finances does not come naturally to everyone. Whether you’re trying to figure out how to create a budget or maximize your investment portfolio, you can benefit from the advice of others.

There are many books available that teach strategies for budgeting, saving, investing, and learning how to make your money work for you. Here are the best personal finance books that everyone should read.

Last update: December 16, 2020

Best Overall: The Richest Man in Babylon

Book cover of The Richest Man in Babylon

Book cover of The Richest Man in Babylon

In this classic work, George Clason teaches fundamental lessons about personal finance through stories set in ancient Babylon. Topics include the importance of seeking expert advice, increasing your ability to earn money, and learning to control expenses. Readers note that the lessons are still relevant in a modern world and appreciate the entertaining storytelling.

Best for Developing Financial Habits: Spend Well, Live Rich

Book cover of Spend Well, Live Rich

Book cover of Spend Well, Live Rich

Based on the lessons she learned from her grandmother, Michelle Singletary gives readers practical mantras to guide spend and save. Exploring concepts like needs versus wants, money versus credit, and assets versus waste, this book helps readers establish financial habits so they can live well with what they have. It offers a refreshing and smart take on personal finance that all readers can enjoy.

Best for Budgeting: The Money Handbook

Book cover of The Money Handbook

Book cover of The Money Handbook

Tonya Rapley has turned her life experience into a financial education blog for millennials. In “The Money Manual”, she presents a practical approach to creating financial goals, establish a budget and tackling the debt. Readers have noticed that his digestible tips make it easy to learn budgeting, making it a great resource for those who want to take control of their finances.

Ideal for creating wealth: I will teach you to be rich

book cover of I'll Teach You to Be Rich

book cover of I’ll Teach You to Be Rich

Ramit Sethi’s personal finance book is designed to appeal to people in their 20s and 30s. It’s funny and ironic, but very practical, which is the best part. You get a six-week personal finance course that teaches topics ranging from 401(k)s to financing a wedding. Reviewers praise the book’s specific recommendations, such as scripts to follow when negotiating prices and money-saving spending changes.

Best for Debt Management: The Total Money Makeover

Total Money Makeover book cover

Total Money Makeover book cover

In “The Total Money Makeover,” Dave Ramsey lays out the seven small steps that are central to his debt-free personal finance philosophy. If you are struggling with debts, learn his steps for creating a zero-based budget and debt snowball approach to paying off everything from credit cards to student loans. The book’s positive reviews highlight its simple message and easy-to-follow steps.

Best for Investing: The Simple Path to Wealth

The Simple Way to Wealth book cover

The Simple Way to Wealth book cover

“The Simple Path to Wealth” began as a series of letters to the author’s daughter, written before she could understand the financial concepts he is talking about. JL Collins aimed to demystify the world of investing to help laypeople understand how to invest and create wealth. The simplicity and casual tone of the book earned it top marks from readers.

Best for Women: Six-Figure Women’s Secrets

book cover of The Secrets of Six Figure Women

book cover of The Secrets of Six Figure Women

Barbara Stanny has interviewed hundreds of women earning at least $100,000 to uncover the secrets to their success. This book details the seven traits that helped these women achieve financial success. Readers get more than a how-to manual; they discover beliefs and attitudes that affect their financial health.

Best for Millennials: Broke Millennial

Broke Millennial book cover

Broke Millennial book cover

In a space dominated by books written for middle-aged Americans, Erin Lowry offers financial advice for millennials — and anyone currently strapped for money. Using contemporary language and references, Lowry touches on everything from dealing with money to budgeting and dealing with debt. Readers immediately welcomed this new voice and relatable style.

Best for Kids: Smart Money Smart Kids

Smart Money, Smart Kids book cover

Smart Money, Smart Kids book cover

Financial expert Dave Ramsey and his daughter, Rachel Cruze, offer one of the best books to read when it comes to teach kids how to manage money. Their book discusses working, spending, saving, and giving, in addition to larger issues such as paying cash for college and living without debt or discontent. You may not read it with your children, but you can use the principles to guide your conversations with them.

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This article has been updated with additional reports since its original publication.

This article originally appeared on GOBankingRates.com: 9 Best Personal Finance Books Everyone Should Read

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