With seemingly countless investment options, wealth management strategies, and budgeting methods to choose from, the world of personal finance can often feel very overwhelming.
Many individuals feel as if they will be unable to effectively organize their finances without the help of a licensed professional. However, for most people, this assumption is simply untrue. There is an abundance of personal finance books that can help you easily navigate this complex world and help prepare you for a better financial future.
Though utilizing a personal financial adviser is something that certainly has its merits, finding the right personal finance books can help you get a great start on your own.
Even if you end up deciding to use the services of a personal financial adviser, educating yourself about the ins and outs of the industry will be undeniably useful. This article will briefly examine some of the best personal finance books that are currently available.
The Automatic Millionaire (David Bach)
One of the reason’s that David Bach’s The Automatic Millionaire consistently makes the list of must-read financial advice books is that while this book is incredibly easy to read, it is also packed with useful financial information.
Bach’s uses a simple—but effective—approach to financial planning by describing a couple from relatively modest means who was able to achieve financial independence on their own. Though he is not suggesting that all families should try to use this same approach, having a clear example to model your own financial plan after is certainly quite helpful. Unsurprisingly, The Automatic Millionaire has sold more than 1.5 million copies.
The Index Card: Why Personal Finance Doesn’t Have to Be Complicated (Helanie Olen and Harold Pollack)
The Index Card—which is co-authored by two individuals who are incredibly familiar with the industry—is another excellent read that helps promote the idea that financial planning really does not need to be that complicated.
The primary idea that this book promotes is that all essential personal finance concepts can be easily fit on a single index card. Throughout the book, the authors discuss the ten most important rules that you should keep in mind while organizing your finances. Once you have completed this quick read, you will likely realize that personal finance is not nearly as difficult as many people might initially imagine it to be.
Rich Dad Poor Dad (Robert Kiyosaki)
This particular book—whose long-form title is Rich Dad Poor Dad: What the Rich Teach Their Kids About Money that the Poor and Middle-Class Do Not!—is not only useful for individuals who want to learn the essentials about personal finance, it is also useful for parents who hope to help their children begin understanding money from an early age.
Author Robert Kiyosaki is able to effectively blend personal memories from when he was young with objective financial words of advice that he has been able to learn over time. The book is able to effectively touch on a wide range of topics ranging from understanding the potential uses of debt to improving your personal income streams.
The Richest Man in Babylon (George Clason)
The Richest Man in Babylon is an absolute must-read for any individual who wants to commit themselves to learn about the most important principles in the personal finance industry. Though this particular title was originally published in 1926, it has been proven to withstand the scrutiny of time and has also enjoyed several updated releases.
The primary premise in this masterpiece is that sound financial planning really hasn’t ever changed much—even dating all the way back to ancient Babylonian times.
Though some of the concepts and principles that are mentioned in this book may seem quite familiar to those who have a firm understanding of the industry, it is certainly a useful guide for any individual who is to establish a firm footing regarding their approach to finances.
Personal Finance for Dummies (Eric Tyson)
As one of many great books in the series of self-help guides “For Dummies”, Eric Tyson’s easy-to-read masterpiece is able to effectively discuss an incredibly wide range of topics in a way that is useful for individuals with all levels of financial expertise.
Throughout Personal Finance for Dummies, Tyson explains various financial assets and financial planning strategies in plain and clear English. However, despite the book’s easy readability, the attention that he pays to each of the subjects being discussed is surprisingly in-depth.
Whether you want to learn how to create a budget or how to diversify your financial portfolio, this well-written book is an excellent place to begin.
How to Retire Happy, Wild, and Free (Ernie Zelinski)
One of the most important—yet most frequently overlooked—components of the personal finance industry is planning for retirement. The long-form title of this book is How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won’t Get from Your Financial Advisor, which is a very accurate description of what you will find inside.
As someone who is very familiar with the retirement planning industry, Ernie Zelinski discusses his belief that planning for retirement is something that is significantly easier than many advisers suggest it might be. This book is particularly useful for individuals who are hoping to retire relatively early and also useful for individuals who are already enjoying their golden years.
Naturally, when deciding on which personal finance books will be best for you, there are a lot of things you will want to consider. Just because a source seems to be legitimate, that doesn’t necessarily always mean it will be the case.
But by relying on a consistent set of time-tested principles, reading reviews, and asking for reading recommendations from people that you trust, finding the best personal finance books is something that should be significantly easier.
If you are willing to put in the effort and take the time needed to educate yourself, you can quickly move one step closer to total financial independence.