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Personal finance is not rocket science. However, it’s an intimidating topic for many of us. Rarely are the principles of personal finance covered in K-12 education. So, if you didn’t learn it from your parents, then it’s up to you to figure it out. But with such a vast topic, where do you start? Luckily there are a tremendous amount of great resources available. Here are 15 of the best financial books for beginners:
- The Millionaire Next Door
- Rich Dad Poor Dad
- Soldier of Finance: Take Charge of Your Money and Invest in Your Future
- The 800 Blueprint: How To Fix Your Credit & Play The Game Like The Rich
- Build and Protect Your Credit Like the Pros: Go from beginner to expert, raise your credit score, and secure your finances
- How to Manage Your Money When You Don’t Have Any
- Debt-free by 30
- ABCs of Real Estate Investing
- How To Invest In Real Estate: The Ultimate Beginner’s Guide to Getting Started
- The Intelligent Investor
- The Index Card
- The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money
- Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live By
- I Will Teach You To Be Rich
- Your Money or Your Life
Best for Beginners Overall
The Millionaire Next Door puts to rest the myth that in order to become wealthy you either need a big inheritance or to win the lottery. In a matter of fact tone, this book emphasizes the simple steps anyone can do to take control of their finances and build wealth. With practical advice focused on financial discipline it’s a great book for anyone new to the personal finance world.
Few books have a cult following like that of Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Author Robert Kyosaki writes in a motivational tone which addresses the mental, behavioral, and strategic elements necessary to build a healthy relationship with money.
Soldier of Finance: Take Charge of Your Money and Invest in Your Future takes a fresh, no-nonsense approach that encourages you to quit making excuses and start changing your financial future. The book also includes targeted quizzes and tools to help you meet your goals quickly and efficiently.
Best for Beginners with Bad Credit
For someone just starting out on their personal finance journey who is aiming to repair their bad credit, The 800 Blueprint gives you a step by step guide to help you do just that. It not only helps you fix your credit, but also makes sure you understand what factors impact your credit and how you can avoid potential pitfalls in the future.
5. Build and Protect Your Credit Like the Pros: Go from beginner to expert, raise your credit score, and secure your finances
Carolyn Warren, the author of Build and Protect Your Credit Like the Pros, takes credit repair to the next level. She not only manages to captivate her readers – despite what many would call a dry topic to write about – but she also provides the tools, letter templates, and tactics to help her readers acheive high credit.
Best for Beginners with Debt
How to Manage Your Money When You Don’t Have Any is a short read which manages to cram quite a bit of wisdom into a short book. Author Eric Wecks effectively leads readers from a focus on what they don’t have to a focus on what they do have. He provides concrete, easy to follow advice on how to lower debt and take the reigns on building financial success.
Looking for some comedic relief alongside practical information about how you can realistically climb out of debt? Then look no further. Debt-free by 30 offers up some laughable stories of its two authors who overcame $27,000 of debt. Laughs aside, this book contains more than just the basics of personal finance and how to manage and eliminate debt, regardless of age.
Best for Beginners Interested in Real Estate
ABCs of Real Estate Investing has been touted as the unofficial next chapter to Rich Dad Poor Dad with a focus on how to increase wealth through real estate investment. In a concise manner, it covers all of the basics – perfect for any beginner who may be just starting to explore their prospects in real estate investing.
You would be hardpressed to come by another real estate investing book for beginners which serves up quite as much motivation and information as How To Invest In Real Estate: The Ultimate Beginner’s Guide to Getting Started. Any personal finance newbie with an interest in real estate investing, creating passive income streams, and learning the ropes of building a business will appreciate this book.
Best for Beginner Investors
The Intelligent Investor is touted as one of the classic personal finance and investment books that everyone should read – which makes it perfect for a beginner just starting out. And if you want to trust any one person’s opinion of an investment book, perhaps take Warren Buffett’s who said this is, “By far the best book on investing ever written.”
11. The Index Card
For any new investor overwhelmed at where to start, The Index Card cuts through all the noise surrouding personal finance and provides practical, concise, and simple information foundational to building wealth. Both informative and fun, this book is an asset to anyone who wants to learn the ins and outs of investing, as well as tactics for smart money management.
Best for Millenial Beginners
The name truly says it all for this book. Millienials and other young new-to-personal-finance beginners will find a plethora of helpful money management tips and information packed inside. With a matter of fact tone, entertaining stories, and practical information, it will be endlessly useful as it brings to your attention the simplest, but most important tenets of personal finance.
Unofficially called the adulting 101 of personal finance, Why Didn’t They Teach Me This in School does exactly that. This book plainly puts across everything you need to know to be able to function as a responsible, smart, forward-thinking, financially focused adult.
Best for Beginners Looking for Worksheets & Exercises
Practice makes perfect. With a solid set of exercises and worksheets built into this book, I Will Teach You To Be Rich will help any beginner to feel more confident in taking control of their own finances. And with a 6 week plan, it will keep you on track, engaged, and motivated to put your new found knowledge into action.
Author Vicki Robin doesn’t beat around the bush in her book, Your Money or Your Life. No excuses and no BS, she touts that if readers actively commit to the nine steps in the book and take the exercises seriously, they’ll be well on their way to achieving financial independence.
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