What up fam! Y’all – why is it suddenly below zero outside? Anyone else entering prime hibernation mode for the year? I can’t think of anything that goes better with our annual hibernation time than a stack of hair-raising, enthralling, spellbinding BOOKS. Where my readers at?! I compiled a list of my favorite personal finance books and am stoked to share them with you today.
OK, I get it. “Personal finance books” sounds about as dry as dust in August, yes? But allow me to assure you, these are actually worth the time. How do I know? I know that because I have the attention span of a fly hopped up on Mtn. Dew, and I was able to finish them. And actually learn from them. If I can do it, anyone can. Truly.
I’ll keep adding to this list as I stumble onto any other books worthy of being added to my famous, highly esteemed “Favorite personal finance books” list. The bar is set so very high, though.
Let’s dive in, shall we?
The Total Money Makeover by Dave Ramsey
This was the FIRST personal finance book I ever read and I was HOOKED. Of course, from there, I continued to make dumb money mistakes, but we can’t win them all. The concepts in this book are easy to understand, and Dave builds on each chapter as you go. Spoiler alert before you read on: This book is a controversial one for me.
Dave Ramsey has a successful business (nay, empire?) where he’s helped, and continues to help, thousands of people get onto solid financial ground (see: his website, podcast, books, coaching courses and probably many other things I’m not aware of). The concepts in this book represent the foundation of his teachings so you know they’re proven and accurate.
My honest review of this book is: 3.5 stars, perfect for someone who’s just getting their feet under them. Or for someone needing that extra push to start their journey.
Wait, What?
Probably seems strange for me to include a 3.5 star book on my favorite personal finance books list, eh? There’s a reason for this. This is THE BOOK when it comes to explaining financial concepts in an easy to understand way.
HOWEVER. I have a few bones to pick with Dave Ramsey.
I actually wrote a full post outlining all the ways in which I think Dave Ramsey is wrong. But to sum it up quickly for our purposes today, here’s what I think – I think Dave tends to draw a hard line in the sand on topics I feel should be a personal decision. Things like credit cards. He is 100% anti-credit card. But credit cards can be terrific ways to gain cash back or travel points, or even to help build up your credit score. They also offer consumer protections not available with debit cards or cash.
Bottom line: I enjoyed this book tremendously and it got me started on my own financial journey. I don’t want to throw the baby out with the bathwater because the financial education offered here is SO VALUABLE. The book’s no-nonsense tone will surely shake you from your rut and motivate you to learn more.
NEXT!
Rich Dad, Poor Dad by Robert T. Kiyosaki
This was probably the next memorable personal finance book I picked up. And this one – despite my fly-sized attention span – stuck with me. It helped me think BIGGER than I had before. Personal finance isn’t just about tracking your expenses and saving money. It’s about how you spend your time and energy.
Again, personal finance is personal and not everything in this book is going to resonate with you. But you can pick out the things that made the biggest impression and run with those.
My honest review of the book: 4 stars. Great fodder for someone ready to start thinking bigger. It’s a long read, but moves fast and is entertaining. Key takeaway? Wealth is when your money works for you.
Your Money or Your Life by Vicki Robin
THIS book! You know when people say a book changed their life and you’re like, “yeah right, ok” while thinking they’re a weirdo? That was me. UNTIL this book. I’ve mentioned Vicki Robin multiple times on this blog, and (get ready to think I’m a real weirdo) I think about this book ALL THE TIME.
I took notes, fam. NOTES. The concepts were so profound and I was so determined to commit them to memory, I took notes. This one will forever be the TOP of my favorite personal finance books list.
Vicki takes you through a series of steps to look at your core values and how those align with your finances. She talks about early retirement and what that could mean for you. Such good stuff.
My honest review of the book: 5 stars. No surprise, there, eh? Perfect for anyone looking to reimagine their lives and their finances.
I Will Teach You To Be Rich by Ramit Sethi
The word that comes to mind with this book is PRACTICAL. This is the book you use as a workbook for organizing and transforming your finances. Ramit’s POV is refreshing. Absolutely no BS allowed.
Ramit teaches us to “spend extravagantly on the things you love and cut spending mercilessly on the things you don’t.” He’s not about the cut-back-on-lattes lifestyle and more about the build-passive-income lifestyle. An abundance mentality is the cornerstone of everything he preaches.
My honest review of the book: 5 stars! This book is a terrific build on the concepts from Vicki Robin, and one I’d consider a can’t-miss on my favorite personal finance books list. Perfect for anyone looking to optimize their finances and advance past basic financial concepts.
In Conclusion
We live abundant lives. And we live in a time where that abundance comes in the form of INFORMATION. We have no excuses to put our heads in the sand like an ostrich. If you’re not a big reader, I encourage you to look into audiobooks. If audiobooks just aren’t your thing, you’ve got podcasts, blogs (like THIS ONE!) and social media at your fingertips.
