10 Best Personal Finance Books

Benzinga’s Editor Pick For Best Personal Finance Book Overall in 2024 is ‘Your Money or Your Life’

Personal finance is more complex than you might realize on the surface. It isn’t just about meeting day-to-day obligations but also planning for long-term goals, such as large purchases or retirement. Prepare for every financial milestone by educating yourself, either with this list of the best personal finance books or by talking to a financial advisor if you have the means to do so. Here’s a look at what you should be reading at every phase of your financial journey.

Quick Look: Best Personal Finance Books

• Best for Everyone: Your Money or Your Life
• Best for Creating Budget: The One-Week Budget (free on kindle unlimited!)
• Best for Beginners In Finance: The Psychology of Money
• Best for Single Income Big Households: One-Income Household (free on kindle unlimited!)
• Best for Debt Holders: The Total Money Makeover
• Best for Retirement: The Complete Cardinal Guide to Planning for and Living in Retirement
• Redditor’s Choice: I Will Teach You to Be Rich (free on kindle unlimited!)
• Best for Learning Index Funds: The Simple Path to Wealth
• Best for Women: The Money Book for the Young, Fabulous & Broke
• Best for Building Generational Wealth: The Family Bank

10 Best Best Books On Personal Finance

Overhaul the way you view money by reading the best book on personal finance listed below. You might find that reading more than one of these titles can help you understand various elements of your finances.

1. Your Money or Your Life by Vicki Robin and Joe Dominguez

Best for Everyone

Spend some time learning what money means to you. That will help you determine how much money is enough for you. Build financial independence using the tools you learn from this book. The book makes it clear that it is not healthy for individuals or the planet to spend beyond your means. Instead, finding a system that works based on your specific finances and building passive income can help you live the life you want to.

2. The One-Week Budget by Tifany Aliche

Best for Creating a Budget

Managing day-to-day finances can feel like a second full-time job. And who has time for that? Take control of your budget quickly with the guide that The One-Week Budget provides. Find ways to save money and reduce the number of bills you pay monthly. The greatest benefit of this book is that it provides everything you need to know to start managing your budget and building a system for it in seven days or less.

3. The Psychology of Money by Morgan Housel

Best for Beginners in Finance

Good money management isn’t just about educating people about how to do it. It’s about changing behavior. Learn the behaviors that build the wealthiest individuals. This book finds that good money habits aren’t so much about the math of where to place funds but the psychology of where to place funds and how to build smart habits that last a lifetime. Change everything about how you view your finances.

4. One-Income Household: How to Do a Lot with a Little by Susan Reynolds and Lauren Bakken

Best for Single Income Big Households

Many life events can lead to being in a single-income household, such as divorce, stay-at-home parenting, layoffs, or health struggles. The change from two income earners to one can feel devastating to some families. This book helps you learn the ins and outs of being a single-income household without feeling like you are completely broke or taking on credit card debt. Learn how to budget for essentials, manage living expenses, and commute affordably.

5. The Total Money Makeover by Dave Ramsey

Best for Debt Holders

Debt can feel like it has a vice grip on you and it’s hard to get out of it. If you struggle with debt and credit cards, The Total Money Makeover can transform your finances with small daily steps. You can go from drowning to saving up an emergency fund and paying off debt.

6. The Complete Cardinal Guide to Planning for and Living in Retirement by Hans Scheil

Best for Retirement

Retirement presents many complex financial situations, including Social Security, Medicare, investments, and long-term financial management. Once you transition to retirement, you’ll face managing major options and decisions that few people talk about. Learn how to navigate these complexities while preparing for how to pass wealth to your heirs. 

7. I Will Teach You to Be Rich by Ramit Sethi

Redditor’s Choice: 

Multiple people in this Reddit thread about the best personal finance books list I will Teach You to Be Rich as the best option for just about anyone looking to improve their finances. While the book is specifically targeted toward recent college graduates and newlyweds starting their financial lives together, this book is excellent for anyone looking to improve their finances. It presents a 6-week program that helps you learn money management tools, avoid debt, and build wealth.

8. The Simple Path to Wealth by J.L. Collins

Best for Learning Index Funds

This book makes investing seem simple and explains how to build wealth using low-cost index funds. The author finds that complex investments are designed for those who create and sell them but these simple index funds can help you grow your wealth. The book is written based on the author’s letters to his young adult daughter, making the book easy to understand even for young readers who have little investing experience. While the greatest benefit of the book is simple investing strategies, it also covers many other key financial concepts, such as avoiding debt, planning for retirement, ways to avoid being conned, Social Security, and more.

9. The Money Book for the Young, Fabulous & Broke by Suze Orman

Best for Women

Many financial books are from a man’s perspective as it tends to be a more male-dominated field. That can be intimidating for women getting started in growing their wealth and taking charge of their finances. This book helps make financial decision-making attainable for women. It especially targets those in their 20s and 30s who graduated college with large amounts of debt. It provides clear steps and goals for what these young adults should be doing to achieve the American dream and offers pragmatic advice for today’s generation that you won’t find elsewhere.

10. The Family Bank by John H. Nebeker

Best for Building Generational Wealth

Learn how to build generational wealth and avoid common pitfalls families face that erode that wealth. The book not only teaches smart money moves but can help build stronger family bonds thanks to shared goals and values.

Is A Financial Advisor Worth It or Self-Education?

While personal finance books present many helpful overarching financial strategies, they can’t speak to each person’s unique financial situation. That’s why meeting with a financial advisor is wise. Books are a good place to start so you can get your finances organized and moving along smoothly while you build up the funds to begin meeting with a financial advisor.