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Do you want to pay off debt, improve your money mindset, and create a lasting plan for wealth for you and your family? You’re in the right place! In this post, we’re going to cover the best personal finance books to read for beginners who want a proven path to financial independence.
Not only are these books going to teach you money management skills, they’re also going to help you build better habits and thoughts around money.
A little side note before we jump into the list, all of the links below will take you to the audiobook versions of each book. I personally listened to these books while cooking, cleaning and exercising. It’s super efficient and I’m all for it!
If you want to give audiobooks a try, you can get your first book with Audible for free. I’ve had a membership with them for just about two years and only have good things to say. You can exchange books you weren’t a fan of, get discounted prices on books and get access to special promotions when a book on your wish list goes on sale.
Okay, without further ado, let’s go over some of the best personal finance books to help you achieve your goals of financial independence!
Financial Freedom: A Proven Path to All the Money You Will Ever Need
Grant went from being a broke 24 year old with $2.26 in his checking account to becoming financially free at 30 with a net worth of over a million dollars. If there’s anyone you can learn money management from, it’s Grant!
In his book, he dives deep into:
- The 7 levels of financial freedom and how you can reach the top level
- Several profitable side hustle business ideas and how you can create a part or full-time income on the side
- 3 ways you can live rent-free and practical steps for traveling on a budget
- The 7 step investment strategy he used to reach financial freedom
Financial Freedom is jam-packed with practical advice you can take to reach your money goals. Whether that looks like early retirement or being able to afford anything you want, this book can act as a guide to making these things possible. It not only goes over the action steps you can take but also the why and mindset behind each action.
This is a must-read if you want to learn new ways of earning, saving, and investing!
The SImple path to wealth: your road map to financial independence and a rich, free life
If you’re looking for a concise and well-written book on investing and financial independence, this is it! Jim Collins originally wrote this book as a series of letters on his blog intended for his daughter. It’s filled with specific examples and the logic behind why he recommends what he does.
In The Simple Path to Wealth, Jim shares his take on:
- How to invest in the stock market during the good times and the bad
- How to avoid debt and what you can do if you have any
- Investment strategies you can use to grow your wealth
- The importance of fiscal freedom and having money saved
Jim also graduated with a degree in English Literature and it shows. This is the kind of book you don’t want to put down or press pause on. It’s real, educational, and if implemented, I’d bet it could save a lot of people a lot of time and money.
You Need a budget: The Proven system for breaking the paycheck to paycheck cycle, getting out of debt, and living the life you want
If you have a hard time creating and sticking with a budget that fits with your goals and lifestyle, this is the book for you. In You Need a Budget, Jesse shares his empowering 4 rule system that’s helped countless readers create a budget the right away.
This book and the ‘You Need a Budget’ website were originally inspired by Jesse’s own financial journey and desire to ditch the paycheck to paycheck life. After several failed budget attempts using traditional advice, Jesse created the proven 4 rule system he personally used to get out of debt, save more money, and attain financial freedom.
If you’ve decided this is the year you knock out debt and take complete control of your finances, this is one book you’re going to want to want to grab yourself a copy of.
The Total Money Makeover: A Proven plan for financial fitness
This book is a staple on many personal finance shelves and has some life-changing advice for anyone struggling with debt.
In The Total Money Makeover, Dave shares the 7 baby steps you can take to get out of debt, save more, and create a financial plan for your life. I first listened to this book two years ago and while I don’t agree with everything he recommends, I think Dave has a great formula for setting up a plan for your finances. And having a plan is always better than having no plan!
This is the book for you if you want to create a financial plan that’s rooted in security and safety.
You are a badass at making money: master the mindset of wealth
We all have an internal story we tell ourselves about money. And this story influences the way we save and spend it. For some of us, this can manifest in overspending or penny pinching, and a general feeling of never having enough.
In You Are a Badass at Making Money, Jen covers how you can rewrite your money story and attract financial abundance in your life. This book is more of a paradigm shift rather than a practical guide on how to make money. So if you want to improve your money mindset and relate to money in a whole new way, then this is the book for you!
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money
You know when you come across a book at just the right time in your life? Rich Dad, Poor Dad was one of those kinds of books for me. I was on a gap year in college and finished this book in one sitting. The main thing that changed was my mindset. I think this book has the power to make anyone who reads it want to start some type of business.
In this book, Robert busts popular money myths and goes over how to make sound financial spending decisions. This book is a classic in the realm of personal finance books and one of the best for beginners who’re looking for a money paradigm shift.
This was the first of many personal finance book I’d read and has some solid lessons for everyone to hear. Robert’s also a great storyteller, which makes it an easy read.
i will teach you to be rich: no guilt. no excuses. no b.s. (2nd edition)
Want to turn your finances around in 6 weeks or less? Ramit can show you how.
In I Will Teach You To Be Rich, Ramit shares his best advice for saving money, paying off debt and student loans, and creating a wealth building system that works for you.
This is one of the best personal finance books on the market in my opinion. Ramit’s approach is all about simplicity and automation. Why make things harder than they have to be?
He’ll also give you exact scripts you can use to negotiate and save money on your phone and insurance bills. If you want to optimize your finances and learn how to build a feasible plan for wealth, this book is a must-read!
Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required
With the current state of uncertainty around the world, the principles in Quit Like A Millionaire have become increasingly relevant.
As a former engineer, Kristy witnessed her coworker collapse and require hospitalization from overwork. This was a critical turning point in her career and life. She made a decision in that moment to work towards early retirement and to create a fiscal plan that would let her live life on her own terms.
By 31 years old, Kristy achieved early retirement with a net worth of over a million dollars. She now travels the world with her husband and is a good example of what financial freedom looks like.
If there’s anyone you want to read a personal finance book by, it’s Kristy. She created this book as a guide for real people who want to create a strong foundation for wealth creation. No trust fund or million dollar startup required!
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
No list would be complete without Vicki Robin’s classic book Your Money or Your Life. It’s obvious that we’d all choose our lives over money if we had to make the choice. But do our daily actions reflect that?
Vicki helps you analyze your spending to see if it fits with the type of life you want to live. If it doesn’t, she shares her top advice and tips to help you align your finances with your values. This book is great for beginners new to the personal finance space and who’re looking for advice on starting a side hustle to earn extra cash, tracking your net worth and finances online, and how to get out of debt for good.
Want to earn more this year? Check out these posts!
- Side Hustle Ideas You Can Do From Home to Earn Extra Cash
- How to Make Money on Pinterest Without a Blog (Updated for 2020)
- 7 High Paying Services You Can Offer as A Virtual Assistant
- How to Become a Pinterest Virtual Assistant
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