There’s more to building wealth than running the rat race, and the best books on money management teach how to escape the vicious loop. We have a list of 20 such books that will help guide your steps towards financial freedom.
1. 365 Ways to Live Cheap: Your Everyday Guide to Saving Money by Trent Hamm
This book is a simple guide to financial minimalism and simultaneously living a fulfilling life. It provides a detailed breakdown of the habits and practices required for saving money.
2. Common Sense on Mutual Funds by John Bogle
Newbie investors are often skeptical about investing in mutual funds. Though published in 1999, this book covers all you need to know about mutual funds. The book’s core is mutual funds, but reading it will help you morph into a better investor.
3. The Richest Man in Babylon by George S. Clason
The Richest Man in Babylon is a financial classic. Despite its publication in the early 20th century, the truths in this book are still relevant in today’s economy and financial ecosystem. The book is a part compilation of life lessons about wealth and financial fulfillment.
4. The One-Page Financial Plan by Carl Richards
The flow of money through your coffers is not all that financial wellness entails. Like every good achievement in life, your finances equally need serious planning. This is why Carl Richard’s book should be your go-to for learning how to craft a financial roadmap.
5. Broke Millennial by Erin Lowry
The economic realities of millennials’ adulthood left many of them in tumultuous waters. Discovering the financial crisis plaguing this generation, Lowry wrote this book to teach not just millennials but everyone the strategy for mastering finances.
6. The Automatic Millionaire by David Bach
Many wealthy people often admit that making their first million was very difficult. David Bach’s book teaches you the dynamics of the wealth-building journey through a story. The bestseller teaches interesting strategies for savings, budgeting, and wealth accumulation.
7. You Need a Budget by Jesse Meacham
In this book, Jesse Meacham explains four stellar principles for putting the outflow of money under leech. If you find budgeting difficult, then you want to read the tried-and-tested methods in this book.
8. The Little Book of Common-Sense Investing by John C. Bogle
If only everyone knew investment is not rocket science. In the few pages of Bogle’s book, you will learn the complexities of the money market. The book explains aspects of investing, like stocks and mutual funds, in simple terms.
9. Rich Dad, Poor Dad by Robert T. Kiyosaki
Most millennials will probably see to it that their kids read this book because their parents made them read it. Most financially literate households have it; it is a great money manual for kids. Rich Dad, Poor Dad is also acclaimed as one of the best personal finance books for young adults.
10. Clever Girl Finance: The Side Hustle Guide by Bola Sokunbi
Financial experts acknowledge that most educated people lack money management skills. Interestingly, women are even disproportionately affected by the lack of financial know-how. However, Sokunbi walks women through the financial aspect of entrepreneurship and business development.
11. The Intelligent Investor: The Definitive Book on Value Investing by Benjamin Graham and Jason Zweig
This is a book that is often recommended to investors by the Wizard of Omaha, Warren Buffett. The two authors are both investors and financial experts, making all the financial insights in this book worth gleaning.
12. I Will Teach You to Be Rich by Ramit Sethi
Ramit Sethi breaks down personal finance into its four core pillars in this New York Times bestseller. The author explains budgeting, banking, investing, and savings in plain terms. Revised editions also cover money management strategies, psychology, and investment.
13. Secrets of the Millionaire Mind by T. Harv Eker
This book demystifies the financial hurdles that most entrepreneurs face in the wealth-building journey. Eker speaks extensively about the psychology that governs our spending habits. It also sets forth ideas on how the wealthy perceive and interact with money.
ALSO READ: How to Save Money: 13 Simple and Effective Tips
14. Think and Grow Rich by Napoleon Hill
Think and Grow Rich is another financial classic from the early 20th century. Pick up this book to prime your mind towards starting a journey of wealth. This book is interesting because it explains the 13 most common habits of wealthy people.
15. The Money Book for the Young, Fabulous, and Broke by Suze Orman
If you are a millennial or Gen Z, this is the book for you. Orman points out peculiar financial problems and explains tried and tested methods of navigating them. This is one of the best money management books of all time.
16. The Total Money Makeover by Dave Ramsey
If you find yourself in a dire financial situation, Dave Ramsey’s book should get you out of the fix. The book will teach you how to get out of debt, improve your financial standing, and live a better life.
17. The Science of Getting Rich by Wallace D. Wattles
If you want to learn the basics of money management, this book should go on your bucket list. It is one thing to earn an income, either through a business or a nine-to-five, and another to manage it well. The formulas in this book will teach you how.
18. The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William Danko
This book throws some light on the exploits of silent American millionaires. They navigate economic hurdles and manage to surpass the one million milestone. Overall, this book will educate you on maintaining a healthy financial lifestyle.
ALSO READ: Understanding Money Market IRAs: What You Should Know
19. The Psychology of Money by Morgan Housel
Pride and the urge to prove a point may drive you into a financial ditch. Housel’s book will teach you how to make wise financial decisions. This captivating book explains financial strategies with 19 relatable stories and is regarded as one of the best finance books of all time.
20. Your Money or Your Life by Vicki Robin
Are you an entrepreneur or business owner? This book will transform your financial outlook and teach you Robin’s signature techniques for making a budget, saving, and investing money. It is acclaimed as one of the Best books about money and investing.
You may have already read some of these books. Nonetheless, you want to proceed with achieving your financial goals by updating your knowledge over time.