Grow Wealth Now: The 11 Best Books on Finance For Beginners

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Best Books on Finance For Beginners

Feel like you’re working hard to pay bills and you still never get ahead? If so, the very best books on finance for beginners are listed below and they are exactly what you need to turn your financial situation around for good.

As bills stack up, debt creeps higher, and fees skyrocket, it can seem downright impossible to get caught up and start saving for your future. And when it starts to feel impossible, it also starts to feel a whole lot easier just to give up than it does to keep on trying.

Maybe that’s why consumer debt is rising in the United States yet again—with consumer debt totaling $17.3 trillion in 2024. Americans continue to use credit cards and loans to purchase items they simply can’t afford and that bad habit doesn’t appear to be slowing down anytime soon.

That’s why 88% of Americans feel that personal finance should be a mandatory subject in schools before kids graduate and get caught up in that paycheck-to-paycheck lifestyle. Knowledge is power after all, and understanding the basics of personal finance makes paying your bills, eliminating debt, and saving for the future a whole lot easier than it ever was before.

The good news is that you don’t have to go back to school to start over financially. You’re perfectly capable of educating yourself on personal finance at any age. I certainly did.

Less than ten years ago, I was a newly divorced single mom on a lower income. I was struggling financially, and I knew I had to reinvent myself in order to give my children the life they deserved and give all of us the secure financial future we needed.

So I decided to start reading, and in doing so, I took back my power and I started to take control of my personal finances too. Today, I am financially secure and saving more for all of our futures than I ever could have imagined. And if I can do it, there’s certainly nothing stopping you.

That’s why I’ve put together this list of the 11 best books on finance for beginners. Because everyone has to start somewhere and there’s no shame in starting from the beginning.

If you start reading these books today, you’ll be sharing your own story of financial success faster than you ever thought possible.

To help boost your confidence when it comes to personal finance, here are some daily affirmations for you to say as you start building your library:

1. The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William D. Danko

Highlights

• The authors discuss the 7 traits that are most common among wealthy people.
• They show you how the most ordinary people you know are often the ones with the most money.
• Growing wealth by living frugally is a main focus.
• They give you easy-to-follow instructions for getting ahead without having a huge income.

My Take

The Millionaire Next Door is one of my favorite books for beginners because it shows you how often the people you least expect to be wealthy actually are and how the people you most expect to be wealthy are often riddled with debt. When you change your perception of what it looks like to be wealthy, you realize that you can be wealthy too.

Review

“The implication of The Millionaire Next Door…is that nearly anybody with a steady job can amass a tidy fortune.” –Forbes

2. Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That The Poor And Middle Class Do Not! by Robert T. Kiyosaki

Highlights

• The author tells the story of the two men in his life growing up and how each taught him important lessons on finance.
• He destroys the myth that you need to have a high income in order to ever get wealthy.
• The best ways to teach your own kids about money are discussed.
• Provides important information about investing in real estate to build wealth.

My Take

Rich Dad Poor Dad is a great book because it shows you just how much other people influence your ideas about money and building wealth, which is why you need to think critically about who you take financial advice from. It also focuses on ways you can make your money work for you instead of the other way around.

Review

“This book awakened in me an almost insatiable appetite for financial books.” –Peter Kim, Founder of Passive Income M.D.

3. Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin and Joe Dominguez

Highlights

• The authors focus on how to change your relationship with money and enjoy your life a whole lot more.
• They provide a 9-step program to live more intentionally.
• It teaches you how to get out of debt and save more money.
• You learn how to invest and create wealth over time.

My Take

Your Money or Your Life is a book that completely changes how you look at money and material things. Once your view changes, you can’t help but want to take your life back and stop working so hard for stuff you really don’t want in the first place.

Review

“This is a wonderful book. It can really change your life.” –Oprah

4. The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life by JL Collins

Highlights

• The author shares the advice he wanted to give to his daughter about money and investing.
• He discusses how not educating yourself in personal finance often leads you to getting taken advantage of.
• He shows you how complex investments only make money for the people selling them to you.
• Debt, FU money, and investments are all discussed in detail.

My Take

The Simple Path to Wealth is unique because the author shares all of the advice he would give his own daughter in a way that anyone can understand. He also emphasizes how important it is for everyone to educate themselves on personal finance topics so that they don’t get scammed by so-called financial experts who do whatever it takes to make money for themselves.

Review

“In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You’ll never find a wiser advisor with a bigger heart.” –Malachi Rempen, Filmmaker, cartoonist, author, and self-described ruffian.

5. The 4-Hour Work Week: Escape the 9-5, Live Anywhere and Join the Rich by Timothy Ferriss

Highlights

• The author discusses all of the benefits of living more and working less.
• He encourages you to reinvent yourself and look for ways to make money on your own through entrepreneurship.
• He shows you how to survive hard economic times.
• Having the ability to work from anywhere is a main focus.

My Take

It’s hard not to race through The 4-Hour Work Week and not get excited about quitting your “safe” job in favor of doing something incredible with your life that you truly enjoy.

Review

“Stunning and amazing. From mini-retirements to outsourcing your life,
it’s all here. Whether you’re a wage slave or a Fortune 500 CEO, this book will change your life!”
—Phil Town, #1 New York Times Bestselling Author of Rule #1

6. Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry

Highlights

• The author shows you the steps to go from broke to financially secure.
• She focuses on what’s it like to be a millennial.
• She has you really think about your relationship with money.
• True stories are included to help you laugh and learn from them.

My Take

Broke Millenial is a really helpful book for young adults who are just starting out and don’t have a lot of financial experience. The author shows you how to deal with real financial issues younger adults face, like student loans and combining finances with a partner.

Review

“Broke Millennial takes the typical preaching and finger-wagging out of money lessons and replaces them with humor, empathy, and a fun, pick-your-financial-path twist while offering helpful and practical advice to successfully navigate all the financial questions you’ll face in the real world.”
—Farnoosh Torabi, financial expert and host of the award-winning podcast, So Money

7. Smart Women Finish Rich: 7 Steps to Achieving Financial Security and Funding Your Dreams by David Bach

Highlights

• The author gives women the confidence and tools they need to take control of their personal finances.
• He provides a 7-step program to help women become financially secure.
• It makes finance simple to understand so anyone can take action.
• It addresses the unique money issues women have to deal with.

My Take

Smart Women Finish Rich is an important book for all women to read. Women are used to working hard and putting themselves last, and this book shows you how to confidently take charge of your money and end up wealthy as a result.

Review

“Finally, a book for women that talks about money in a way that makes sense. David Bach is not just an expert in managing money–he’s the ultimate motivational coach for women. I can’t recommend this book enough. It’s a must-read!”
—Barbara DeAngelis, Ph.D., bestselling author of Real Moments

8. You Are a Badass at Making Money: Master the Mindset of Wealth by Jen Sincero

Highlights

• The author helps you figure out what is holding you back from being financially secure.
• She helps you get past all of your doubts and fears when it comes to money.
• She shows you how to set yourself up for financial success.
• The premise is that you can get as wealthy as you want to.

My Take

You Are a Badass at Making Money is another great addition to Jen Sincero’s book series. She is great at helping you find your inner power and build your confidence up so that you can take action and create the financial security you want.

Review

“This book truly crystallizes the concept that financial abundance is an inside job—in that it all begins with your mindset—and Sincero gets serious (in the funniest ways possible) about helping you identify your particular limiting beliefs surrounding money.”—PopSugar

9. I Will Teach You to Be Rich: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works by Ramit Sethi

Highlights

• The author shows you how to grow your money automatically.
• He encourages you to spend money on things you actually enjoy.
• He shows you how to pay off debt quickly.
• His 6-week program helps you get back on track quickly.

My Take

I Will Teach You to Be Rich is a must-read because it shows you just how easy it is to reach your financial goals through automation and by making smart decisions on how and where to invest your money.

Review

“Ramit’s like the guy you wish you knew in college who would sit you down over a beer and fill you in on what you really need to know about money—no sales pitch, just good advice.” —Christopher Stevenson, Credit Union Executives Society

10. Get Good with Money: Ten Simple Steps to Becoming Financially Whole by  Tiffany the Budgetnista Aliche

Highlights

• The author describes how she was swindled out of a job and her savings by a shady advisor.
• She shares the 10-step formula she used to take back control of her financial life.
• She shows you how to budget based on your personal wants and needs.
• There is also a focus on how to protect your assets in the future.

My Take

As a huge fan of her blog and podcast appearances, The Budgetnista certainly didn’t disappoint with her book Get Good with Money. I recommend it to anyone who’s made financial mistakes in the past and is ready to learn from them.

Review

“No matter where you stand in your money journey, Get Good with Money has a lesson or two for you!”—Erin Lowry, bestselling author of the Broke Millennial series

11. Meet the Frugalwoods: Achieving Financial Independence Through Simple Living by  Elizabeth Willard Thames

Highlights

• The author describes their personal journey to retiring early and living a simple life as homesteaders in Vermont.
• She shows you how to be proud of living frugally and eliminate your need to impress others with material possessions.
• She demonstrates how living sustainably increases happiness and decreases stress.
• The concept of taking back control over your time and money is explored in detail.

My Take

I’ve read The Frugalwoods blog and listened to their podcast appearances for years, and I still learn something new every single time I revisit them. Meet the Frugalwoods is a book well worth the read.

Review

“Meet the Frugalwoods is a welcome addition to the ever-expanding library of personal finance literature. It covers a relatively new topic (financial independence) in a relatively new way (story). —J.D. Roth, author of Get Rich Slowly

These 11 best books on finance for beginners were carefully chosen to help you live more frugally, get ahead, find financial freedom, and ultimately become financially independent. Enjoy!

FAQs

1. What are the best books on personal finance?

The best books on personal finance are those that teach you how to take control of your money and build financial security over the long term, no matter how much of a salary you make. By sharing insightful tips and real-world experiences, the best books on personal finance illustrate each step in the process toward growing wealth.

2. What is the number one personal finance book of all time?

The number one selling personal finance book of all time is Rich Dad Poor Dad. Even after 25+ years, the money lessons shared in this personal finance book remain relevant and show you just how important having a financial mentor can really be.

3. Are personal finance books worth it?

Reading personal finance books is definitely worth it. The more you educate yourself on personal finance topics, the better you are able to make smart decisions and use your money to serve you.

Sources

• Amazon
• Credit Karma: 63% of Americans Think Personal Finance Education Belongs in School
• The Motley Fool: Americans Now Have More Debt Than Ever Before

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