Nothing beats a good book. Not Youtube, podcasts, or blogs. And if you're thinking of finally taking control of your finances and building wealth, there's no better resource than good personal finance books.
For the past few years now, I have been obsessed with finance and have read so many books on personal finance, investing, paying off debt, and more.
Some of these books inspired me to start my journey to financial freedom. And some, have encouraged me to stay the course. While others have motivated me to take some serious action and make some big moves.
All of them have helped me reach the point where I am now. Completely debt-free with a good stash of cash and a nice investment portfolio, if I do say so myself.
So without further ado. Here are my top personal finance books for building long lasting wealth.
I've broken them down into categories for you: Money Mindset, Inspiration, Saving and Investing, Paying off Debt, Taxes, and Creating Wealth.
Best Personal Finance Books For a Healthy Money Mindset
You cannot build wealth that lasts without first ensuring that you have a healthy money mindset. That means you need to be fully aware of your relationship with money.
Make sure you aren't telling yourself lies about money and what it means to be wealthy. You must take personal inventory of your thoughts and beliefs.
These books will help you find clarity and put you on the path to success.
The Millionaire Next Door By Thomas J. Stanley and William D. Danko
People often think that those with the flashy cars and fancy clothes are the millionaires and billionaires of this world but this book shows you without a doubt that that just isn't true.
Believe it or not, most millionaires are practical and would never spend more money on something when they don't have to. They buy used cars, shop at auctions, and take hand me downs when necessary.
Do they build their houses from scratch? Nope. Send their kids to the best private school money can buy? Nope. Try again.
I love The Millionaire Next Door because it really gives you great insight into the mind of a millionaire and tells you exactly how they spend their money.
Who knows? Maybe if you follow the path of millionaires described in this book, you could become one too?
I don't know about you but that is precisely what I intend to do.
Your Money or Your Life By Vicki Robin and Joe Dominguez
Such a great read and glad I finally got around to reading it. Your money or Your Life gives you a very different way of viewing your money that you just don't get elsewhere.
It really breaks down the importance of money and being mindful about what you are spending your money on. This book is perfect for those who want to re-evaluate their relationship with money and truly see and value it for what it is.
Once you master your mindset and come to terms with your spending habits and developed a plan of action to get on track, they leave you with some tips on investing and growing your money. Without all the fluff.
The Big Leap: Conquer Your Hidden Fear and Take Life to the Next Level By Gay Hendricks
This books isn't specifically about money but it will help you greatly in terms of becoming more self-aware and developing a healthy mindset.
The Big Leap helps you to delve deeply into your past. And helps you understand how your thoughts, beliefs, and prior experiences may be holding you back.
It also shows you how to get back on track with practical tips, advice, and exercises. So you can start living the life you desire and deserve.
I'm so glad I found this book early in my journey because it really helped me deal with the ghosts of my past. After reading it, I felt like a new person.
I tell ya. This book is so good I had to read it twice. Because I wanted to make sure that I didn't miss a thing.
The Big Leap is truly life changing. It was for me and I think it will be for you as well.
Think and Grow Rich By Napoleon Hill
This book by Napoleon Hill is a definite classic and one that belongs on everyone's bookshelf. It is the ultimate guide to developing a healthy money mindset.
Think and Grow Rich teaches you how to use your mind and your thoughts to manifest wealth and abundance. It gives you easy action steps and daily mantras to help you shift from a poor person's mindset to wealth building mindset.
This book gives you the keys to success. It is a very inspirational book that will motivate you to make some much needed changes in your life.
Napoleon Hill may have written it in 1937 but its teachings are still very much relevant today. It is truly a book for the ages.
Best Personal Finance Books for Inspiration
Everyone needs a little inspiration every now and then. And that is doubly so for you stepping out of your comfort zone and trying to sort out your finances.
So here are the books that have inspired me the most and truly added valuable insights into the world of money.
The 4 Hour Work Week By Tim Ferriss
This is the book that got me started on my journey to financial freedom. And for that, I will always love this book!
The 4 Hour Work Week teaches regular people like you and me how to break free of our 9 to 5 (or at least break free of the cubicle) and live the life we desire most.
Tim Ferriss inspires you with his story and the stories of others. And pushes you to make a plan, starting with figuring out how much you actually need to live the life you desire.
The way he paints it, he makes it seem so easy. And it really is.
Just follow the steps he lays out for you in this book and you may find yourself going from a job you hate, to your dream job in a matter of weeks.
Rich Dad Poor Dad By Robert T. Kiyosaki
The classic, Rich Dad Poor Dad. Another great inspirational novel that everyone who's ever changed their financial situation for the better has read at least once.
Through tales of his childhood experiences growing up with a 'poor' dad and the man he calls his rich dad, you learn about what it means to make money and build wealth.
This book really motivates you to go out there, invest, and make some cash!
It inspired me to start looking into investing in real estate. And since then, I've devoured countless books on real estate investing, and am looking to buy my first property soon. Very soon.
The $100 Startup By Chris Guillebeau
Loved loved loved this book. I've read or actually listened to the audio version twice.
The $100 Startup is packed with gems about starting your own side hustle slash business. He gives you real life examples of how people started with little or no cash and turned their businesses into million dollar companies.
This book really opens your eyes to the myriad of ways you can make tons of money with very little cash to start.
Whoever said you need money to make money? Well, this book right here proves that myth wrong. Hands down.
Man I'm getting excited just writing about this book. I think I may go have another wee listen right now! Be back soon I promise!
Quit Like a Millionaire By Kristy Shen and Bryce Leung
Okay. I'll just admit it. I just love books. And this one, is one of my favorites!!
Not only is the author a girl who comes from a poor family like me, but I found that we really think about things in the same light.
And of course, she loves money like I do. And truly understands just how important money is and how to make it work for you.
Because the writer, Kristy Shen, is someone who didn't grow up with much, Quit Like a Millionaire is not just inspiring but provides unique insights into how to use money to free yourself from a job you hate, travel the world, and live an abundant life.
I love her unique approach to investing in the stock market and strategy for safeguarding her money in case of a crash during early retirement. As well as the tons of other tips and tricks she reveals.
And like The 4 Hour Work Week, Quit Like a Millionaire shows you that you don't need a million dollars to quit your job and travel the world. Not by a long shot.
Overall, a very enjoyable and insightful read. Trust me. This book won't disappoint.
Best Personal Finance Books for Saving and Investing
You can't talk about personal finance books without having a section dedicated to saving and investing. Here are the books that I've really enjoyed reading and found to be the most useful in terms of saving and investing your money.
The Richest Man in Babylon by George S. Clayson
Another classic, The Richest Man in Babylon is such a great read! Unlike the other books here, this book is a collection of stories told be a man in Babylon.
I'm not sure whether it is fact or fiction but it is a great book that is very true to life. It is full of the best basic principles of living within your means, saving, and investing and growing your money.
Through the stories told in this novel, you'll learn the exact, simple steps you should take to build truly lasting wealth.
And it was written in 1926. Wow, who would've thought the secret to building wealth had been around in written form almost a hundred years ago!
I thoroughly enjoyed reading this book. It was both entertaining and enlightening. It is a must read for anyone serious about turning their financial situation around.
Related: Saving for Financial Independence
The Millionaire Real Estate Investor By Gary Keller
This is one of the books I read super early on my journey to financial freedom and it inspired and motivated me greatly.
I was tempted to put this book in the mindset or inspirational categories because it does an excellent job in doing both. But it does say investor in the title so here it is.
The Millionaire Real Estate Investor is broken down into two parts. One is dedicated to ensuring you have the right money mindset. He really encourages you to establish your BIG Why and walks you through the process of laying the groundwork for your future success in real estate.
In addition to that, in part two he dives deep into investing in real estate. He provides worksheets for how to analyze properties for numerous situations to determine profitability. And he also tells you how to make sure that each and every deal you do makes you money.
He really lays it all out and I can't think of a better real estate book for anyone looking to get started in investing in properties.
Emerging Real Estate Markets by David Lindahl
This is a great book for people who want to invest in apartment buildings. Dave Lindahl has a deep understanding of emerging real estate markets and in this book he teaches you everything he knows.
You'll learn about the different phases of the market cycle and how you can use each to your advantage. What's more, you'll learn exactly how to determine if a market is up and coming so you'll know that it is worth investing in.
And even more importantly, you'll learn how to spot the signs that a market is heading for a downturn. So you'd know that market would be best to avoid or pull out of and find another market.
Dave Lindahl does a great job teaching you how to ride the waves of the real estate market cycle.
This is another book that I thoroughly enjoyed reading. It really gave me a complete education on real estate markets and cycles and helped me think more critically about the things that affect the market.
A Random Walk Down Wall Street By Burton G. Malkiel
This book is chock full of information about any and everything stock market related.
After reading A Random Walk, you will have a thorough understanding of how the market works, what makes bubbles and what makes them burst, and about various ways to analyze stocks and the market.
I also really enjoyed this book for the historical aspect the book starts off with as it takes you from the inception of the stock market. Woos you with tales of all the stock market busts (even the infamous Tulip Bulb fiasco). Then finally dives into some theory and analysis.
If history and theory are not something you are interested in, then maybe you won't like this book. But I did find it to be very educational and a great read.
The Investor's Guidebook to Equities By Stuart R. Veale
This book is great for beginners looking to learn about stocks and the equity market. The Investor's Guidebook to Equities breaks everything down for you.
From what a stock is to how stocks are formed, the value analysis of stocks, to how stocks are trades, and more.
Literally this book covers it ALL. So if there's anything you wanted to know about stocks, the stock market, or trading stocks, this book has got you covered.
You'll be happy to know that the author, Stuart Veale, has loads of other books covering other investment topics such as bonds as well.
I've read most of them and they are all really good! The bond one even goes into all the various calculations for interest, present value, future values, and more.
If you can't tell, I'm a bit of a math geek!
The Boglehead's Guide to Investing By Taylor Larimore, Mel Lindauer, and Michael LeBoeuf
Gotta love the Bogleheads and John C. Bogle for whom they are named after. When John Bogle introduced the index fund to the world, he changed the investment world forever. And for the better I think.
Index funds allowed your average joe, who may not have the time or money to either research companies or pay someone to do it for them, access to the stock market without all the risk that usually comes with investing.
And this book, The Boglehead's Guide to Investing, is made to help your average joe navigate the investing market and not lose his/her shirt. The authors really give you easy action steps to take to build your wealth all the while limiting your risk.
In addition to all the tips and tricks you get for investing, they also teach you what to look for when shopping for insurance as well as how to go about leaving your wealth to your children.
It truly is an all-encompassing book that is a must read for anyone serious about attaining financial freedom and building wealth.
The Boglehead's Guide even goes over how you should invest for ultimate tax efficiency!
Best Personal Finance Books for Paying Off Debt
Oh the dreaded "D" word. Debt. No one likes him but he is sadly always hanging around.
When it comes to getting rid of debt it is all about your commitment and determination. You'll really need them to see it through. Then, once you finish paying off your debt, it is going to take more willpower to not get back into it.
If you are ready to finally get rid of your debt for good, check out these book recommendations below.
Debt-Free Forever By Gail Vaz-Oxlade
Although talking about debt, how you got into it, and how you need to get yourself out of it can be a hard pill to swallow, Gail's style of writing keeps it interesting and even a bit funny.
For those who struggle with debt and debt management, she gives you tips and tools you need for dealing with it. She also sets you up to be able to achieve your financial goals if you just follow a simple plan.
Debt-Free Forever is a great read for those finally ready to get out of debt and start saving for their future for reals.
Fun Fact: The author is actually the former host of the show Till Debt Do Us Part. I vaguely remember hearing about that show back in the day. Makes me kinda wanna go watch it.
The Total Money Makeover By Dave Ramsey
You know. I'm not a big fan of Dave Ramsey just because I don't agree with some of the things he says. But if you are in desperate need of help getting out of debt, this book delivers exactly what it promises.
A Total Money Makeover. I warn you though, you must be prepared to go hard or go home because Dave Ramsey doesn't pull any punches. He is very no nonsense and clear about his disdain of all things debt.
So as long as you can put up with him screaming at you about how terrible debt is and how you need to cut up all your credit cards, you will make it through.
I'm kidding. Kinda.
But all jokes aside, people who have been in tremendous amounts of debt have used this book to get themselves out of it. So I have no doubt that it is useful for those who need an extreme debt makeover.
The Total Money Makeover gives you 7 easy steps to follow to get out of debt and start building wealth.
Best Personal Finance Books for Taxes
Taxes, yikes! I don't know what's worst: the "T" word, Taxes, or the "D" word, Debt ... on second thought, definitely debt.
In any case, to have a good foundation for your financial journey, you need to learn a little bit about the thing that could throw a wrench in your wealth building plans. Oh and you must file every year so it may be useful.
The good thing is, once you learn even just a bit about taxes, they become much less scary and much easier to manage.
Taxpertise: The Complete Book of Dirty Little Secrets By Bonnie Lee, E.A.
This book was also one of the first books I read on my journey to financial freedom. And it is an excellent book, very thorough.
Taxpertise is the one stop shop. It literally covers everything you will ever need to know about taxes. She delves into not only personal taxes but self-employment taxes, business taxes, the differences for the various types of corporations, and so much more.
She lists every tax credit and deduction you can take, all the necessary forms you could ever need, tells you the questions you should ask if you need to hire a tax pro, and even steps you through preparing for the tax season.
It really is an awesome read and will give you a complete understanding of the tax system and structure.
Also, plus side, after reading the book I find that audits and auditors aren't so scary as I once thought they were. Of course, I have never had the pleasure of being audited so...
Deduct Everything! By Eva Rosenberg, EA
Just like the title says, Deduct Everything, literally breaks down each and every thing you could possible deduct on your taxes when it comes to your home, education, business, etc.
It's quite an easy read, very well organized, and comes jam packed with loads of tips (270 I believe) that you can use to save on your tax bill.
This book also gives advice on how to prepare for doing your taxes and how to stay organized.
Best Personal Finance Books for Creating Wealth
Everyone wants to be wealthy. Yup. Even you. And yup. Even those who swear by the frugal life.
Don't let them lie to you. I'm quite frugal myself but if I had a choice, I'd choose wealth and so would they.
Having wealth is about more than just having money. It is having the freedom to live care-free and to do the things that make you happy. When you are wealthy, there are so many good things you can do.
So go on. Take a deep dive into how you can start creating wealth for you and your loved ones.
Money Master the Game By Tony Robbins
You know. I really like Tony Robbins. He just seems like a great guy. I mean. He is an awesome motivational speaker. And who knew he even is into finance and wealth building?
I really loved listening to Money Master the Game because it gives you true insight into how the wealthy become wealthy and stay wealthy.
He actually interviews some of the wealthiest people alive as well as the smartest financial advisors. And the book is like a culmination of everything they know.
The best part is he gives you actionable steps and financial plans that you can do to build wealth and become financially free.
Tax-Free Wealth By Tom Wheelwright, CPA
Part of Robert Kiyosaki's Rich Dad Poor Dad group and I believe one of his advisors, Tom Wheelwright writes an excellent book about wealth and taxes.
He shows you exactly how you can safe guard your wealth from the tax man. And provides insightful tips and tricks on how you can do so in various situations.
Tax-Free Wealth teaches you how to build long-term wealth by using the tax code and the incentives it provides. You'll also learn how to structure the best tax and asset protection strategy for your wealth.
He is clearly very knowledgeable about what he does and my only downside to the book is that I just wanted to know more.
But too be fair that would mean I probably would be studying to be an accountant at that point. He teaches you what you need to know to make an informed decision and nothing more.
One of the things that I really liked about the book is how he always stress that the tax code is nothing but incentives. And if you use them to your advantage, everyone wins.
It has helped me see taxes in a completely different light.
The wealthy know that if they do what the government wants them to, the government will reward them with tax breaks and more.
All in All
So there you have it. The best personal finance books you could ever need to be successful. But while I think these books are amazing, reading them alone won't help you achieve your goal.
You're going to have to take some action. And I encourage you to take action as you read. That way you won't end up reading and doing nothing at all afterwards.
It's easy to fall into the trap of knowing what you should do and not doing it. So do it while you feel motivated and inspired.
And if there's one thing all of these books do well, it's motivating and inspiring you to take action now.
Good Luck!!
p.s. Got any other books that changed your life? You know I love books so I'd be happy to add them to my collection! Write them in the comments below!
*DISCLAIMER: The Information provided in this post is simply the opinions of the blogger and is given in the spirit of educational fun. It is not investment or tax advice. Please do your own research and decide what is right for you before investing in any asset. If necessary, seek the help of a certified professional in discussing your options.
This is a great and comprehensive round-up. I'm just a baby to this whole business and finance thing; I've read 2 books on this list last year. I feel like this is a list I can keep coming back to for recommendations when I need to level up next! Bookmarked!
Awesome!! Well you are ahead of the game since you’ve already read 2 books from this list! Definitely take it one step at a time. Once you read one book start implementing it. Then move on to the next. You got this!