10 Best Books About Money
Some people are naturally equipped with money management skills. But others have to have a plan with money to get vision and hope for their end goal. Often the most common problem is falling prey to overspending and impulse buying. And sometimes people also find it hard to keep track of every dollar they spend. In this blog, you will learn about the 10 Best Books About Money.
If it brings you any solace, you are not alone in this struggle. The majority of the people around the world believe that they are financially unstable. Even more believe that if they just had more money, they could be a whole lot happier.
So how do you manage your money better and make it work for you? The answer is simple; learn and educate yourself. This is exactly how the top billionaires in the world first started out. And they haven’t given it up even after acing their game.
While there might be gazillions of books to learn how to earn, save, and spend, not every book will sit well with your financial goals. Whether you want to learn budgeting or master stock trading, there’s a book just for you. To help you find the best books on money management, we have rounded up the 10 best books below.
Read on to learn more about the best money books of all time!
Financially Fearless
Financially Fearless is by Alexa von Tobel, the founder and CEO of financial planning company LearnVest. This best money book of all time serves as a handy guide for readers that want to learn how to benefit the most from their savings and investments. While the subject matter might feel pretty basic, Financially Fearless is offers practical relevance with every single piece of advice that the author has to offer in their Books About Money.
This book helps readers create a customized financial plan according to their individual needs. And the best part is that the plan can be adapted easily to one’s unique situation. The book might be great for beginners but readers of all ages might not find it equally beneficial. For instance, if you want a strict savings plan that requires giving up vacations and lattes altogether, this book might not be for you.
Target Readers: To sum it up, Financially Fearless is a practical guide for the online generation. The author targets the segment that beliefs in taking full control of their financial situation for better or for worse. If you are someone who would rather go for relatable advice than relying on complex theoretical concepts, this book is the right place for you to start.
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Rich Dad Poor Dad
Rich Dad Poor Dad is a part-memoir, part-bio with lessons for money management. It has been more than 20 years since the book was first published. With its 2017 edition, this book has become the best book on money management. When the author, Robert T. Kiyosaki first published it in 1997, it sold over 40 million copies. Currently, it’s the 6th best-selling book on Amazon in that category. And one of the best seller among Books About Money.
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The memoir walks the readers through some of Kiyosaki’s childhood experiences. It demonstrates a contrast between his not-very-wealthy father and his friend’s father who was one of the richest residents of Hawaii. The stark comparison offers the readers advice on how to best manage money or lack of it.
Target Readers: Although this book’s target audience is parents who want to help their kids do better in life, it is actually for any adult interested in investing and getting financially stable. This book is particularly interesting as it compares life 20 years ago against what it is today.
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The Total Money Makeover
The next on the list is Dave Ramsey’s The Total Money Makeover: A Proven Plan for Financial Fitness is all about money and financial goals. If you have ever listened to his highly successful radio program, The Dave Ramsey Show, you probably know that when Dave Ramsey talks, you can’t help but get awed by his prudence and money management skills. So, this edition, “The Total Money Makeover Classic Edition: A Proven Plan for Financial Fitness,” offers advice on tackling money matters like marital difficulties and how to handle finances when your kids head to college.
Target Readers: The thing about Dave Ramsey’s books is that they are never get-rich-quick schemes. In fact, it lays a solid foundation for anyone who wants to save enough so that no future emergency derails their financial goals. So whether you are an older person or a young adult, trying to save or pay off debt, this book is exactly what you need.
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Broke Millennial
Broke Millennial: Stop Scraping By and Get Your Financial Life Together from the Broke Millennial Series by Erin Lowry is a comprehensive financial guide. It offers a step-by-step approach on how to go from flat-broke to financially stable and healthy. The book doesn’t only cover boring topics like investing, credit card debt, or budgeting. Instead, it goes beyond the basics to help the readers tackle tricky money situations that most of us face in our routine lives.
We highly recommend this book to learn all the basics of finance in a relatable way. The author’s approachable tone and practical tips make it great for learning everything from our complex relationship with money to retirement planning.
Target readers: If you are someone who needs help with budgeting or feels overwhelmed by student loans, other expenses, and Books About Money Broke Millennial is the best place to start. The target readers of this book are 20 and 30-somethings who are struggling with both debt and future financial planning. The focus of the book is mainly on younger people and in that way it captures the financial challenges of this generation so well.
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Your Money or Your Life
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin, Joe Dominguez, and Mr. Money Mustache is centered around the idea that living frugally can actually make you happier.
For over twenty-five years, this book has been the ultimate guide for changing your relationship with money. A great number of readers have followed this nine-step program and have learned to become financially independent. This revised and updated edition has made the book suitable for readers of all ages. This book also covers modern topics like earning from multiple revenue streams, index fund investments and keeping a track of your finances online.
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Target Readers: As a whole, Your Money or Your Life is not so much about budgeting as it is about living frugally by changing your money habits and indulging in mindful spending. The book is best suited for readers who are either beginning their financial life or heading towards retirement. Regardless of your financial goals, this guide can help you get out of debt, save money, build on your wealth, and declutter your life.
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The Investment Answer
The Investment Answer by Daniel C. Goldie and Gordon S. Murray is considered one of the best books on money matters. With this book, the authors want to emphasize the point that investing is a vital aspect of any kind of financial planning. Since an average person is not willing to learn about the complex details of investing, this book offers an effective, easy-to-follow guide on making investments.
Target Readers: This book is for first-time investors. It helps the readers understand how to navigate complex investment choices and make the right decisions. With answers to the oft-repeated questions on investing, this book can be most suitable for beginners in the world of investment.
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How to Retire Happy, Wild, and Free
The book How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won’t Get from Your Financial Advisor isn’t really about tackling your finances for retirement. It is, rather, about retiring well on what you have managed to save so far.
The book doesn’t emphasize working longer and harder to achieve that goal. In fact, the author, Ernie J. Zelinski, is of the idea that you don’t need $1 million-plus in savings to accomplish it. Zelinski believes that your best years of life should be enjoyed on the money you have, sooner rather than later.
Target Readers: This book is essential reading for people who are getting closer to retirement. This book can help them plan for retirement rather than falling into it. This book is best for beginners in financial planning as well as middle-aged adults who are looking forward to retiring early. That said, there is ample information for anyone to find inspiration in the idea.
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Set for Life
The book Set for Life: Dominate Life, Money, and the American Dream, is yet another great money book in the same vein by Scott Trench. The book offers a plan of prioritizing saving over earning and making mindful investments. Set for Life can help you figure out your own values and how you want to use your time and money. So, whether your big financial goal is traveling or buying a dream home, this guide can help you save for both your financial goal and early retirement.
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Target Readers: This book is highly recommended for young people in their 20s or 30s who want to be financially free. It is for readers who want to spend the best years of their life, doing what they want, rather than buying into the traditional American dream that is built largely on debt.
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Secrets of the Millionaire Mind
The book Secrets of the Millionaire Mind by T. Harv Eker takes a look into the mind and beliefs of wealthy people. The book offers strategies that are easy to follow for money management. The author emphasizes that the change of attitude is just as important as financial education and he shows how the readers can do it.
The book is like two books in one. Part I explores how your money blueprint works. Whereas, in Part II you will come across seventeen “Wealth Files.” This means you will learn exactly how rich people think and act as compared to poor and middle-class people.
So, if you feel that you are not doing well financially, the first thing you need to do is to change your money blueprint.
Target Readers: The target audience for this book is young adults looking for financial guidance. The book can help them identify their money blueprint and revise it.
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Secrets of Six-Figure Women
Today, more and more women are successfully making six figures, and they are accumulating wealth faster than their male peers. The author of this book, Barbara Stanny interviewed high-earning female professionals across different fields to find out the secret of their success. According to this book, women who are successful in this aspect of life are have common traits.
Therefore, this book breaks down the mindset of successful people. It also emphasizes on a new set of lessons that anyone who is looking to boost their wealth can learn from.
Target Readers: This book is especially for professional women who want to be inspired by other successful women to succeed in their fields.
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Bottom Line
Life can be much easier and less stressful when you know your financial goals and have some money management skills to meet them. The way you spend your money impacts your credit score as well as your savings. So if you are someone who is struggling with money management issues, it is time to learn. And what better way there is to start than to learn it from the best money books of all time.
Once you have the knowledge and skills to manage your money better, you can dive right into implementing all your learning. Download the Doctor Money app today and level up your skills in money management.
This intuitive tool will not only make you more mindful of spending and saving but it will also make all your financial dreams come true. So remember, balancing your money is the key to having enough!