Learning how to manage finances doesn’t 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 plenty of books available that teach strategies for budgeting, saving, investing and learning to make your money work for you. Here are the best personal finance books that everyone should read.
Last updated: Dec. 16, 2020
Best Overall: The Richest Man in Babylon
In this classic work, George Clason teaches foundational personal finance lessons through stories set in ancient Babylon. Topics include the importance of seeking the advice of experts, increasing your ability to earn money and learning how to control expenses. Readers note that the lessons are still relevant in a modern world and appreciate the entertaining storytelling.
Best for Developing Money Habits: Spend Well, Live Rich
Based on the lessons she learned from her grandmother, Michelle Singletary gives readers practical mantras to guide spending and saving. Exploring concepts like needs versus wants, cash versus credit and assets versus waste, this book helps readers establish money habits so they can live well on what they have. It offers a refreshing and smart approach to personal finance that all readers can appreciate.
Best for Budgeting: The Money Manual
Tonya Rapley turned her life experience into a financial education blog targeted at millennials. In “The Money Manual,” she presents a practical approach to creating financial goals, establishing a budget and tackling debt. Readers have remarked that its digestible advice makes it easy to learn about budgeting, making it an excellent resource for those who want to get control of their finances.
Best for Building Wealth: I Will 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 tongue-in-cheek, yet 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 shifts.