One of the things that really ignited me on my journey to better my finances was learning more about money, how it works, and the things I can do to make it grow. There is nothing like reading (or listening) to a good personal finance book to make you want to get things into gear.
I have found that as I continue to develop my understanding and knowledge of personal finance, the types of book I find most useful change. But, no matter where you are on your personal finance journey, if you haven’t read any of these books below, I recommend giving at least one of them a try!
I will talk a bit about what I found the most useful in each and I hope you will find as much value in these books as I did.
1.The Total Money Makeover – Dave Ramsey
This is where it all started for me. I needed to first figure out how to get out of the debt I was in, and Dave’s baby steps were so very helpful in getting me going. If you’ve ever heard of the debt snowball or debt avalanche methods, this is where it is coined from so you’ll get lots of information in this book about both approaches.
2.Rich Dad, Poor Dad – Robert Kiyosaki
This book really helped me to dig a little deeper into my mindset when it came to my finances. What did I really think about money, what was my relationship with it, and how I could grow it over the long-term. It made me identify the different mindsets between the rich and the poor when it comes to handling and approaching finances, and how I can align my mindset with where I wanted to be I really enjoyed every moment of this book, and I think it’s important to really understand your money mindset before trying to make changes.
3.The Richest Man in Babylon – George S. Clason
This one may not be everyone’s cup of tea as it’s written in old English. However, if you can get past that, I think this is a great book to highlight the age-old principles behind building wealth. The concepts are the same and have been for generations, it’s not rocket science, yet so many of us struggle with handling our money and have no clue where to start. This book is one that will stand the test of time.
4.The Simple Path to Wealth – JL Collins
I know this is listed as number four, but this is actually my favourite book from this list. JL Collins does a marvellous job of telling you how simple it really is to build wealth (although the road may not always be easy at first), and it gives practical steps you can take to get there. I would advocate for this to be a mandatory book read in high school because I genuinely believe it is that good and that useful. So don’t miss out on this one!
5.Choose FI: Your Blueprint to Financial Independence – Chris Mamula, Brad Barrett, Jonathan Mendonsa
If financial independence (FI) is something that peaks your interest, this book is fantastic for showcasing how you can achieve it. The authors have all successfully achieved FI and share their tips and tricks on how they were able to do so. Be warned, they are American and there are some very US-focussed concepts that may not be so relevant in the UK, but I find it can be quite easily adapted to more UK-relevant concepts.
30-year old living in the UK who is actively working towards achieving Financial Independence (FI). Sharing all the tips and tricks I am learning along the way!