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Best Books on Personal Finance for 2024

Books on personal finance can help you improve your money management skills. You can learn the basics of personal finance

B ooks on personal finance can help you improve your money management skills. You can learn the basics of personal finance—such as the benefits of paying yourself first or how to deal with and eliminate debt—so you can become more savvy and confident with your money. — Worldculturepost

But that's not all. They can also show you how to invest, handle a mortgage, build a nest egg, plan for retirement, and ultimately help you avoid common money mistakes to cultivate a healthy relationship with your money. It may not be the most fun reading, but your wallet—and your investment portfolio—will appreciate it.

Best Books on Personal Finance for 2024 - worldculturepost
Best Books on Personal Finance for 2024

Best Books on Personal Finance for 2024

Here are our choices of the best books on personal finance.

1. The Best One: Why Didn’t They Teach Me This in School?

Why Didn’t They Teach Me This in School?

If you ask anyone what they wish they’d learned more about in school, the answer is probably money. More specifically, how to handle one’s finances properly—this is where Cary Siegel’s book, “Why Didn’t They Teach Me This in School?” comes in. Siegel, a retired business executive, splits the book into 99 principles and eight money lessons that you should have learned by high school or college but didn’t.

This book was originally meant for his five children when he realized they didn’t learn essential personal finance principles before entering the real world, but it became a well-received read full of money lessons, as well as Siegel’s own experience and advice. This easy-to-read book is perfect for new grads or anyone looking to start their personal finance journey on the right foot.

2. Best Biography: Rich Dad Poor Dad

Rich Dad Poor Dad

Robert Kiyosaki’s “Rich Dad Poor Dad” is a book that you may have heard of, and it has a good reason to be around for over 20 years. In this best-selling personal finance book ever, Kiyosaki reveals what he learned from his father and his friend’s father, who is the “rich dad” in the title. He teaches you how to get rich without earning a lot of money, how to understand assets and liabilities, and why schools don’t teach your kids what they need to know about personal finance.

This 20th-anniversary edition also includes an update from the author on money, the economy, and investing.

3. Best for Managing Debt: The Total Money Makeover

The Total Money Makeover

Your personal finances depend largely on how you manage your debt. If you need some guidance in that area, check out Dave Ramsey’s “The Total Money Makeover.” This New York Times bestseller tells you, in plain words, how to get out of debt and improve your financial situation by avoiding common traps like rent-to-own, cash advances, or credit cards. It also gives you sound advice on how to start an emergency fund, save for college and retirement, and how to use Ramsey’s famous “Snowball Method” to pay off your debt.

4. Best for Creating Wealth: The Automatic Millionaire

The Automatic Millionaire

Who wouldn’t want to be a millionaire? David Bach’s “The Automatic Millionaire,” a New York Times, USA Today, Bloomberg Businessweek, and Wall Street Journal business bestseller, shows you how to achieve that. The book starts with the story of a couple who earned $55,000 a year and how they reached their financial goals. Imagine: owning two houses, sending their kids to college, and retiring at 55 with a $1 million retirement fund. The secret? Setting up a financial system that pays yourself first and does it automatically. Bach has also written "Smart Women Finish Rich," "Smart Couples Finish Rich," and "Start Late, Finish Rich."

5. Best for Beginners: Broke Millennial

Broke Millennial

If you know what #GYFLT means, then this is the personal finance book for you. (Hint: #GYFLT stands for “get your financial life together” in social media lingo.) Erin Lowry’s “Broke Millennial” shows in her signature casual style how 20-somethings can take charge of their personal finances. From knowing your money mindset to handling student loans to discussing your finances with a partner, this book tackles the biggest money issues facing millennials today.

6. Runner-Up, Best for Beginners: The One-Page Financial Plan

The One-Page Financial Plan

Lost when it comes to your money, whether it’s how to invest wisely or how to cope with unexpected financial challenges? Carl Richards’ “The One-Page Financial Plan” removes the confusion from how to manage your finances effectively. This book helps you not only figure out what your financial goals are, but also how to achieve them in a simple, one-page plan. Richards is a Certified Financial Planner and a columnist for The New York Times. 

7. Best for Spenders: I Will Teach You to Be Rich

I Will Teach You to Be Rich

Being rich doesn’t mean not spending money at all. In "I Will Teach You to Be Rich," a New York Times and Wall Street Journal bestseller, financial expert Ramit Sethi explains that you can spend your money, guilt-free, as long as you have it invested and allocated correctly. This title talks about how to deal with all the common money pitfalls, from paying off student loans to saving every month, and even how to negotiate your way out of late fees. This 10th-anniversary edition includes updated views on technology, money, and psychology, as well as some success stories of readers who have actually gotten rich from reading—yes, you guessed it—Sethi’s book.

8. Best for Women: Clever Girl Finance

Clever Girl Finance

Women still earn only $0.82 to a man’s dollar, while mothers earn only $0.71 for every dollar that fathers earn, according to the U.S. Department of Labor.1 In short, women still have to work harder when it comes to their money. Bola Sokunbi’s “Clever Girl Finance” aims to empower and educate a new generation of women, speaking up on things like how to monitor your expenses, make and stick to a budget, manage your credit, build a nest egg, and take charge of your own financial well-being. Sokunbi is a Certified Financial Education Instructor (CFEI) and the founder and CEO of the website Clever Girl Finance.

9. Best Psychology: The Psychology of Money

The Psychology of Money

This book is a fascinating exploration of the psychology of money and how your ego, assumptions, and even your pride can influence your choices around money. As you can imagine, this is not the best way to manage your investments, and Morgan Housel’s “The Psychology of Money” offers readers tips and tools to overcome these biases in the form of 19 short stories that focus on the same theme. Housel is a partner at The Collaborative Fund and has been a columnist at The Wall Street Journal.

10. Best for Budgeting: Your Money or Your Life

Best for Budgeting: Your Money or Your Life

With over a million copies sold, Vicki Robin’s “Your Money or Your Life” presents a simple, nine-step plan to help readers transform their relationship with money. Whether it’s how to get rid of debt, start investing, build wealth, or even save money by practicing Robin’s signature mindfulness technique, this book has you covered.

Final Verdict

Whether you're new to finances or just looking for more financial guidance, the best personal finance book overall is "Why Didn't They Teach Me This In School?" by Cary Siegel. It teaches eight essential money lessons you should've learned by high school as well as a whopping 99 principles that will help you save, invest, and grow your wealth.

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