Knowing how to sort out and manage your personal finances can feel overwhelming – especially if you’re already experiencing money trouble or have incurred some debt. The good news is, we’ve pulled together the best personal finance books to help get you and your money back on track.
Full of easy to implement strategies that will have you saving and smiling, these reads are a small investment for a brighter financial future!
Rich Dad, Poor Dad by Robert Kiyosaki and Sharon Lechter
One of the most well known and bestselling American personal finance books, “Rich Dad, Poor Dad: What the Rich Teach their Kids about Money that the Poor and Middle Class Do Not!” is part memoir, part instruction manual on how to manage your money. Much of Rich Dad, Poor Dad’s success is Kiyosaki’s storytelling. He takes readers through an engaging journey of his childhood, comparing the money habits of his own poor father with a friend’s dad who was one of the richest men in Hawaii. With a focus on how to do a lot with a little and why not all debt is bad, Kiyosaki helps his readers understand that you don’t have to have a huge income to set yourself up for life.
The Barefoot Investor by Scott Pape
With over a million copies sold across Australia, Scott Pape, better known as The Barefoot Investor, has become a household name. Thanks to his shoot from the hip style and step-by-step formula that’s so embraced by the Aussie public, Pape’s ‘bucket account’ strategy has become a cultural phenomenon. On top of being specific to Australian financial products, such as insurance, banks and superannuation, Pape’s unique budgeting strategy allows you to still splurge on the things that make you smile, all while building on your short and more importantly, long term wealth.
Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry
No matter what generation you belong to, Erin Lowry’s book Broke Millennial can help if you’re feeling cash-strapped and in need of some financial training, minus the industry jargon. Full of uncomplicated advice on financial management for newbies, Broke Millennial will teach you how to tackle situations such as managing loans, credit card debt, salary negotiation and serious relationship finance. Hilarious and educational, Broke Millennial speaks to the average reader like a friend with your best interests at heart.
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Joseph R. Dominguez, Monique Tilford, and Vicki Robin
Your Money or Your Life is a nine-step program that hundreds of thousands of people (including Oprah) have used to retrain their thinking and attitude towards money. Whether you’re a young person just starting your financial journey or you’re approaching retirement and want to maximise your savings, Your Money or Your Life takes a holistic approach to creating wealth. This book will help declutter your life, find a side-hustle, learn mindfulness and even save the planet while saving money!
The One Page Financial Plan by Carl Richards
How can you know ‘how’ to save if you don’t know ‘why’ you’re saving. This is the question at the heart of The One Page Financial Plan and its simple approach to personal finance. As a New York Times columnist, Carl Richard uses his background as a journalist to turn complex financial jargon into easy to digest prose and gives readers everything they need to know about making better financial decisions for themselves… No matter what the market conditions are. This book is perfect for someone who likes short, sharp and actionable plans, without the fluff!
Worth It: Your Life, Your Money, Your Terms by Amanda Steinberg
Written specifically for women and their unique financial circumstances, Worth It: Your Life, Your Money, Your Terms comes from Amanda Steinberg, the founder and CEO of DailyWorth.com. As one of the world’s top personal finance sites, Steinberg’s army of one million loyal subscribers have learnt to replace their internalised “money stories” that inhibit wealth and personal growth with a sense of power and freedom that’s handed them back control and allowed them to face their financial situations head on. This is female empowerment from an economic core and excellent reading for any woman who’s concerned about money.
The Millionaire Next Door by Thomas Stanley and William D. Danko
The Millionaire Next Door is one of the most iconic personal finance books of the last two decades. By teaching readers the seven common traits of people that have accumulated large wealth, Stanley and Danko teach you to shift your mentality away from what you think makes someone wealthy to how they’re actually doing. With practical advice on how to avoid the trap of spending what you earn, The Millionaire Next Door is full of ideas that might surprise you. This book is perfect for those who feel stuck and don’t understand why all their hard work isn’t getting them as far ahead as it should.
The Total Money Makeover: A Proven Plan for Financial Fitness, by Dave Ramsey
For families and individuals struggling with debt, Dave Ramsey’s The Total Money Makeover won’t just get your head back above water, it will help you thrive. Following a simple seven-step plan, Dave’s approach to personal finance works to get to the heart of your money problems and then gives them a complete makeover. Filled with over 50 stories from real life people who have used his strategy to regain control of their lives, The Total Money Makeover will help you pay off debt, recognise dangerous money myths which hold you back and start saving for a stress-free retirement!
Get a Financial Grip by Pete Wargent
Australian Pete Wargent’s background in shares, index funds and property investment helped him retire and become a millionaire in his early thirties. His book, Get a Financial Grip details the strategy he used to give himself financial freedom by creating a sustainable lifestyle that can withstand economic downturns, job loss and unforeseen pitfalls. Focussed on the psychology of success and how to use asset classes to attain wealth, Get a Financial Grip provides a straightforward plan on how to beat the odds and live the life you choose rather than be a victim of circumstance.
Motivated Money by Peter Thornhill
Rounding off the list is another well-heeled Australian financial expert and public speaker, Peter Thornhill, who uses his experience creating personal wealth to educate others. In Motivated Money, Thornhill talks about his growing discontent with the “assumed wisdom” of financial services and speaks on why behavioural finance is more important than economics. Rather than looking backwards, Motivated Money will teach you to invest your time into long term strategies that tap into the market’s riches so that you can master your financial destiny and free yourself from the shackles of debt.
The takeaway
These personal finance books are great resources for those ready to address their money problems and start living a debt free life. But to get you started, it’s alway best to speak to a professional who can help you get on top of your finances now, so that you can start growing your wealth and setting yourself up for a bright future.
Speak to the friendly team at Debt Negotiators about how we can get you started on the road towards a debt free future, today.
