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Best Personal Finance Books According to Experts

Best Personal Finance Books According to Experts August 2, 20179 Comments

Some of the most important financial lessons we can learn definitely come from personal finance books written by legends. These timeless, in depth and witty reads provide a solid source of well rounded finance information. So whether you are a blogger, a student, a frugal mother or a millennial who wants to have their finances under control there are some books you have to have in your library.

In order to find out which are the best personal finance books, we asked some of the top finance bloggers and experts to share their opinion and here are the results:

1.The Millionaire Next Door by Thomas J. Stanley & William D. Danko – 20 Votes

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2. I Will Teach You To Be Rich by Ramit Sethi – 14 Votes

personal finance books

3. Rich Dad Poor Dad by Robert Kiyosaki – 13 Votes

personal finance books

4 – Your Money or Your Life by Vicki Robin – 12 Votes

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5- Total Money Makeover by Dave Ramsey – 10 Votes

personal finance books

6-  Think & Grow Rich by Napoleon Hill – 10 Votes

7- The Richest Man In Babylon by George S. Clarkson – 8 Votes

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8 – The Intelligent Investor by Benjamin Graham – 4 Votes

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9- Automatic Millionaire by David Bach – 3 Votes

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10 – Secrets of the Millionaire Mind by T. Harv Eker – Votes 3

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11- Millionaire Teacher by Andrew Hallam – 3 Votes

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12 – The One Page Financial Plan by Carl Richards – 3 Votes

personal finance books
13- Broke Millennial Erin Lowry 3 Votes

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More books mentioned:

The Little Book of Common Sense Investing by John Bogle

How To Engineer Your Layoff by Financial Samurai

The Number by Alex Berenson and Mark Cuban

You’re So, Money by Farnoosh Torabi and Jim Cramer

Wealthy Barber Returns by David Barr Chilton

Stop Over-Thinking Your Money by Preet Banerjee

How to Get Rich By Barbara Friedberg

Enough by John C. Bogle and President Bill Clinton

Personal Finance for Dummies by Eric Tyson

The Surprising Secrets of America’s Wealthy by Thomas J. Stanley

Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love by Holly Porter Johnson and Greg Johnson

Get a Financial Life by Beth Kobliner,
The Broke and Beautiful Life by Stefanie O’Connell

You Only Live Once by Jason Vitug

– 2 Votes

Guide to Paying For College The Infographic Guide To College

Guide to Paying For College by Leah Ingram and William J. Behre

Your Portfolio Is Broken

America’s Cheapest Family by Steve Economides and Annette Economides

The Empowered Investor by Mark Harrison

Frugal Living for Dummies by Deborah Taylor-Hough

Random Walk Down Wall Street by Burton G. Malkiel

365 Ways to Live Cheap by Trent Hamm

The 7 Secrets of Money by Simon Brown

The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future by Pamela Yellen

Talk Your Way Out of Credit Card Debt!: Phone Calls to Banks That Saved More Than $43,000 in Interest Charges and Fees by Scott Bilker

The Art of Non-Conformity by Chris Guillebeau

Notes from a Friend by Anthony Robbins

Guide to Investing in Gold & Silver by Michael Maloney

The Billionaire Who Wasn’t by Conor O’Clery

The Quest Of The Simple Life by William J. Dawson

The Treasure Principle by Randy Alcorn and Paul Michael

The Truth About Money by Ric Edelman

Sound Mind Investing Handbook by Austin Pryor

Against The Gods by Peter L. Bernstein

Money & Marriage: A Complete Guide for Engaged and Newly Married Couples by Matt Bell

Early Retirement Extreme by Jacob Lund Fisker

Winning the Loser’s Game, 6th edition: Timeless Strategies for Successful Investing
by Charles D. Ellis

Moneyball by Michael Lewis

Cashing in on the American Dream by Paul Terhorst

The Hunger for More by Laurence Shames

The Simple Path to Wealth by J L Collins and Mr. Money Mustache

 

Christians: Dollars and Doctrine by The Christian Financial Alliance

– 1 Vote

 

Doug Schantz (Cheap Scholar)

  • Global Shocks (An Investment Guide for Turbulent Markets)
  • The U.S. News Guide to Paying For College
  • The Infographic Guide To College (A Visual Reference For Everything You Need To Know)

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Peter Anderson (Bible Money Matters)

The Little Book of Common Sense Investing by John Bogle, The Richest Man In Babylon by George S. Clason, and since my site has the faith component – a book for Christians: Dollars and Doctrine by Rob Kuban

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J. Money (Rockstar Finance

  • The Millionaire Next Door
  • The Richest Man in Babylon
  • I Will Teach You To Be Rich, by Ramit Sethi

 

 

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Andrew Hallam (Andrew Hallam) Andrew

This entirely depends on nationality. If you’re Canadian, select a book about index funds written by a Canadian, such as Ian Turnbull’s book, Your Portfolio Is Broken: Who’s To Blame And How To Fix It or Keith Matthew’s book, The Empowered Investor. Dan Bortolotti’s book is also great. If you’re American, Burton Malkiel’s Random Walk Down Wall Street would nicely fit the bill. If you’re British, select something like Ben Sherwood’s book, The 7 Secrets of Money.

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Miranda Marquit (Planting Money Seeds)

 

  • The Oblivious Investor by Mike Piper
  • The Millionaire Fastlane by MJ DeMarco
  • End Financial Stress Now by Emily Guy Birken

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Scott Bilker (Debt Smart)

1: I shamelessly recommend my best-selling book, Talk Your Way Out of Credit Card Debt!: Phone Calls to Banks That Saved More Than $43,000 in Interest Charges and Fees, because it is the fastest, easiest way to start saving money on your credit card debt.

2: The Millionaire Next Door, by Stanley and Danko is a classic that gets to the bottom of being wealthy versus being a big spender. You will be surprised find out who is who.

3: Notes from a Friend, by Anthony Robbins. This short book, 112 pages, is the Cliff Notes version of everything Tony Robbins. Reading this book will get your head straight and ready to take on any challenge. ”

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Aaron (Three Thrifty Guys)three thrifty guys

  • Total Money Makeover
  • The Billionaire Who Wasn’t
  • The Treasure Principle

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Andrew Schrage (Money Crashers

One of the best personal finance books is The Total Money Makeover by Dave Ramsey. It contains tips and advice on exactly what the title elicits – how to revamp your finances to get back on track. Another good book which isn’t as well known is called The Index Card: Why Personal Finance Doesn’t Have To Be Complicated by Harold Pollack and Helaine Olen. That is a good resource for those just starting out on fixing their finances who might be feeling overwhelmed. And a third book to consider is the Nine Steps To Financial Freedom by Suze Orman. That book possesses a lot of good advice for those who are mired in credit card debt or who are otherwise feeling trapped by their finances.

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 Matt Bell (Matt About Money)

My recommendation for the best overall personal finance book is The Millionaire Next Door. It makes an important distinction between people who look like they’re doing well financially and people who truly are, and it shows that the money management habits of the truly financially successful are accessible to everyone.
Best investing book, especially for people who are somewhat new to investing, is The Sound Mind Investing Handbook.
And, while I may be somewhat biased on this one, the best money management book for young couples is Money & Marriage: A Complete Guide for Engaged and Newly Married Couples.

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Monique Fullowka (One Income Dollar)

  • America’s Cheapest Family
  • Frugal Living for Dummies
  • 365 Ways to Live Cheap

 

 

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Anthony Kirlew (Fiscally Sound) 

  • Think & Grow Rich (Napoleon Hill)
  • The Millionaire Next Door (Thomas Stanley & William Danko)
  • Bank on Yourself (Pamela Yellen)

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Eric Rosenberg (Personal Profitability

My favorite personal finance books are the ones that stick with tried and true strategies and hold up over time. I love the Automatic Millionaire by David Bach and I Will Teach You to Be Rich by Ramit Sethi as both help you understand how to get the basics of budgeting, saving, and investing under control. While it’s not technically a personal finance book, The Art of Non-Comformity by Chris Guillebeau is another favorite. It helps you understand how personal finance fits into your life overall, rather than looking at money in isolation from everything else.

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Ivan Widjaya (Aseponde)

  • Rich Dad Poor Dad by Robert Kiyosaki
  • Guide to Investing in Gold & Silver by Matt Maloney
  • The Automatic Millionaire by David Bach

 

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Financial Samurai

 

  • How To Engineer Your Layoff: Severance Negotiation Strategies For All
  • The Number
  • The Quest Of The Simple Life

Michael Kitces (Nerd’s Eye View at Kitces)

  • Ric Edelman’s “The Truth About Money”
  • Peter Bernstein’s “Against The Gods”
  • Ramit Sethi’s “I Will Teach You To Be Rich”

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Adam Chudy

  • The Four Hour Workweek for helping me realize what was possible when it comes to entrepreneurship, cash flow, mini-retirements, and early retirement. I’m sure half the businesses on the internet have been started because of that book and a whole lot of people’s lives are much better off.
  • The Slight Edge for helping me to improve a bit every single day and reminding me how much daily habits matter. This can improve your personal life, health, and bank account.
  • The One Page Financial Plan is something that came around way to late for myself, but I’ll name it here because it’s the most common book I gift to college grad’s in my life. It’s a great, easy to read, primer on how to start your financial life right.

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Ben Reynolds (Sure Dividend)

  • Think and Grow Rich by Napolean Hill. While not strictly a ‘personal finance’ book, this book is the original in terms of self-help and building the right mindset to accumulate wealth over time. If you are looking for day-to-day strategies on how to budget, this isn’t the book for you. If, however, you are looking for the mindset to grow rich, this book is a must read.
  • Total Money Makeover by Dave Ramsey. While my first book has virtually no ‘every day’ recommendations, Total Money Makeover is all about how to budget and control your money to get out of debt and build prosperity.
  • Early Retirement Extreme by Jacob Lund Fisker. The truth is, I haven’t read this book – but I have read the Early Retirement Extreme website extensively. It is loaded with interesting ways to save money – likely much more than all of your peers. Dave Ramsey gives advice that ‘makes sense’ for the average person. Early Retirement Extreme goes 100x further. It is for those looking to optimize their life for low expenses and a high savings rate.

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Jim Wang (Wallet Hacks

  • I Will Teach You To Be Rich by Ramit Sethi
  • You’re So Money: Live Rich Even When You’re Not by Farnoosh Torabi
  • The Millionaire Next Door by Thomas Stanley

 

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Kirti Sikri (Be Money Aware)

Rich Dad Poor Dad by Robert Kiyosaki contrasts the mindset of his Rich Dad and Poor Dad One dad said, When it comes to money, play it safe, don’t take risks. The other dad said, Learn to manage risk. I liked the book because it is simple and easy to read.
He also made me question the traditional educational system(which he says is flawed). He says Our education system is designed primarily to create employee. Our current educational system focuses on preparing today’s youth to get good jobs by developing scholastic skills. Their lives will revolve around their wages.
He also threw light on Assets/Liabilities. What defines something to be an asset or a liability are not words. He challenges you to think Your Primary Residence Is NOT An Asset.
The book talks about him earning money on real estate, I don’t know how many of us can do it? Are we experienced to do so? But his thoughts or rather the way he puts it across on Investing is great.

Secrets of the Millionaire Mind by T. Harv Eker
I have often wondered Why some people get rich(or seem to get rich) easily, while others are destined for a life of financial struggle? Where lies the difference, Is it intelligence, street smartness, education, skill, background, people they know, choice of jobs or plain luck or ______??? The Answer as per author T. Harv Eker of Secrets of the Millionaire Mind is our money blueprint and it is this blueprint, more than anything, that will determine our financial lives. Rich people have a different money blueprint, they think and act differently than poor people. If we start thinking and acting like Rich People we may become rich.
Book is written in simple language, I felt as if author is actually talking to me (excerpt from the book are given below). I insist Don’t take everything(what he says, what I say,what you read, what you see ) at face value but with spoons(not pinch) of salt. Take the information and use it in ways that work for you.

The Richest Man in Babylon by George Samuel Clason
The Richest Man in Babylon dispenses financial advice through a collection of parables set in ancient Babylon. While some of the ideas are archaically written, they remain timeless. These points are basic tenets of how to get ahead financially in any time, not just in Babylonian times or in the 1920s. One of the biggest things this book teaches is that no matter what size your income is, 10% of it is yours to keep. Another is that debt is an enemy to conquer, not a necessary evil. As a person’s wealth rises, so do their expenses.

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Mohit Tater (Financial Conversation)

  • Think and Grow Rich – Napoleon Hill
  • Rich Dad Poor Dad by Robert T. Kiyosaki
  • I Will Teach You To Be Rich by Ramit Sethi

 

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Alexis S. (Fitnancials)

Broke Millennial, How To Graduate Debt Free, and You Only Live Once are books that would be a great read for a teenager entering college or in their early twenties. Broke Millennial is a book that I believe should be read in high schools as it goes over everything and anything personal finance related, but in a way where the reader can easily understand the information and not get overwhelmed. I also love Erin Lowry’s sense of humor, so it makes reading the book even more fun to read.

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Kylie Travers (The Thrifty Issue)

  • Napoleon Hill – Think and Grow Rich
  • Scott Pape – The Barefoot Investor
  • David J Schwartz – The Magic of Thinking BIG

 

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Pam Wattenbarger (Simply Southern Mom)

  • Your Money or Your Life Vicki Robin
  • The Total Money Makeover Dave Ramsey
  • Make Your Kid a Money Genius Beth Kobliner

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Shane McNally (What’s The Cost?)

  • Passive Income by George Pain
  • The Intelligent Investor by Benjamin Graham
  • The Millionaire Next Door by Thomas Stanley

 

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Mike Collins (Family Finances)

  • The Millionaire Next Door
  • I Will Teach You to be Rich
  • Moneyball

 

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Michael James (Michael James on Money)

People have such varied needs that it’s hard to pick a few books suitable for everyone. For those who need help pulling out of debt, Gail Vaz-Oxlade has a number of good books. The most widely applicable good personal finance books I could recommend are David Chilton’s The Wealthy Barber Returns and Preet Banerjee’s Stop Over-Thinking Your Money. For those who have enough savings to think about investing, a great place to start is Winning the Loser’s Game by Charles D. Ellis.

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Dividend Growth Investor

  • The Millionaire Next Door
  • Your Money or Your Life
  • Cashing in on the American Dream

 

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Sudipto Basu (One Cent At A Time
  • The Millionaire Next Door by Thomas J. Stanley and William D. Danko
  • I will teach you to be rich by Ramit Sethi
  • Think and Grow Rich by Napoleon Hill

Kurt Fischer  (My Money Counselor

  • Your Money or Your Life, by Vicki Robin and Joe Dominguez
  • The Hunger for More, by Lawrence Shames
  • Simple Guides to Debt, Credit, and Wealth, by Kurt Fischer

Mrs. Money (Ultimate Money Blog)

  • Dave Ramsey Total Money Makeover
  • Your Money or your life
  • JL Collins- The Simple Path to Wealth
Derek (Money Ahoy)
  • The Millionaire Next Door (Stanley & Danko)
  • I Will Teach You to be Rich (Sethi)
  • Secrets of the Millionaire Mind (Eker)

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Ronald Hendricks (MoneyHome Blog)

Research shows that 88% of the rich people read at least 30 minutes a day. The richest person in the world, Bill Gates, reads 1 book a week. The 2nd richest person in the world, Warren Buffett, reads at least 6 hours a day. If it works for them, it can work for you too. Financial education is not the strongest part of mankind. A lack of a good financial base is often the reason why so many people have financial problems. And that is strange, because there is a lot of good financial information available.
Whether you want to create million dollar company or become highly successful in your field, the best way to get there is to learn from the best. There is no better learning school than the knowledge of a few billionaires.
The following books can put you in the front seat so the next 12 months you can become rich.
1. Rich Dad Poor Dad by Robert Kiyosaki
Robert Kiyosaki repudiates the myth that you need a lot of money to get rich. He tells the story of 2 fathers – his own father and a friend’s father. He explains how to get rich with a small salary. The father with a high salary is not rich in his story while the father with a small salary succeeds. You can read the book to know what the latter did different.
2. The Money Savvy Student by Adam Carroll
Making money is just like sport: The offense is the way you make money. The defense is the way you keep your costs low. In this book, you will learn how to keep your costs under control and how to handle your money to earn as much as possible. In the end, you just have to score to win.
3. The Power of Broke by Daymond John
Shark Tank investor and founder of FUBU Daymon John started his career with $ 40. He built his business into a brand worth $ 6 billion. But on his journey he had to overcome many obstacles. At one point, as a millionaire, he lost all of his money. Daymond John proved no money at the bank is not an excuse to get rich. Being broke was one big advantage to him. He was becoming more creative and looking for exceptional solutions that learned him the secrets to success.

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David Leto (50PlusFinance)
  • Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School by Andrew Hallam
  • Financial Fitness Forever: 5 Steps to More Money, Less Risk, More Peace of Mind by Paul Merriman
  • Dave Ramsey’s: Total Money Makeover

Ginger (Girls Just Wanna Have Funds)

  • Smart Women Finish Rich
  • I Will Teach You To Be Rich
  • Think And Grow Rich

 

 

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Big Cajun Man (Canadian Personal Finance Blog)

  • The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle
  • Stop Over-Thinking Your Money!: The Five Simple Rules Of Financial Success by Preet Banerjee
  • The Wealthy Barber by David Chilton

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Evan (My Journey to Millions) 

They aren’t traditional PF Books, but rather they are just damn inspiring – Snowball, Intelligent Investor and More Money than God

 

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Joe Udo (Retire By 40)

  • Your Money or Your Life
  • How to Fail at Almost Everything and Still Win Big
  • Common Sense on Mutual Funds

I wish I read these three books when I was in my early 20s. There are a ton of wisdom that would have guided me to financial independence earlier. You don’t have to follow the conventional path if it’s not right for you.

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Todd Tresidder (Financial Mentor) 

  • Your Money or Your Life
  • The Millionaire Next Door
  • How Much Money Do I Need To Retire? (by Todd Tresidder, so maybe I’m a little biased)

 

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James Hendrickson (Stapler Confessions)

Robert Kioysaki’s Rich Dad Poor Dad, Jane Bryant Quinn’s Making The Most Of Your Money and Stanley and Danko’s The Millionaire Next Door. You need books for different things. Kiyosaki’s isn’t a good book in terms of the mechanics of how to manage your money, but its inspiring in its simple mindedness. Stanley and Danko’s work shows you the reality of wealth in America and Quinn teaches you how to get there.

 

Peter Christopher (Finance Care Guide)

  • The Automatic Millionaire by David Bach
  • Rich Dad Poor Dad by Robert Kiyosaki
  • The Millionaire Next Door By Thomas J.

 

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Jon Dulin (Money Smart Guides

The 3 best personal finance books are Live It Up Without Outliving Your Money by Paul Merriman; The Compound Effect by Darren Hardy; The Millionaire Next Door by Dr Thomas Stanley

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Barbara A. Friedberg (Personal Finance)

  • The elements of investing by Malkiel and Ellis
  • A random walk down Wall Street by Malkiel
  • How to get rich By Friedberg

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Mitch Mitchell (Top Finance Blog)

  • The Millionaire Maker by Loral Langemeier
  • Secrets of the Millionaire Mind by T. Harv Eker
  • Rich Dad Poor Dad, Robert Kiyosaki

 

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Allan Smith (Day To Day Finance)

  • Financial Peace Revisited
  • The Money Book for the Young
  • Fabulous & Broke
  • Smart Money Smart Kids

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MMP (Money Management Pro)

  • Millionaire Next Door
  • Your Money or Your Life
  • Rich Habits: The Daily Success Habits of Wealthy Individuals

 

 

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Rob Berger (The Dough Roller)

  • Your Money or Your Life
  • The Intelligent Investor
  • Enough

 

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Keith Park (DivHut)

  • The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley
  • The Snowball Effect: Using Dividend & Interest Reinvestment To Help You Retire On Time by Timothy J. McIntosh
  • Forever Investing: The Investment Strategy of History’s Greatest Investors by Michael T. Nowacki

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Denny Jones (Personal Finance Opinions

The 3 best personal finance books that I like are:
  • How to Get Rich
  • The wealthy Barber
  • Personal finance for Dummies

 

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Allan Liwanag (The Practical Saver)

  • I Will Teach You To Be Rich
  • Why Didn’t They Teach Me This In School?
  • The Behavior Gap

 

 

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Joseph Hogue (Peer Finance 101)

  • How to Be a Financial Grownup by Bobbi Rebell
  • Step-by-Step Dividend Investing by Joseph Hogue
  • CFA; Soldier of Finance by Jeff Rose

 

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Usiere Uko (Financial Freedom Inspiration)

  • Rich Dad Poor Dad, by Robert Kiyosaki
  • The Richest Man in Babylon by George Clason
  • Courage to be Rich by Suze Orman

 

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Kalen Bruce (Money Mini Blog)

These are the first books I recommend to anyone:

1. The Total Money makeover by Dave Ramsey – This is the first book anyone should read when they make the decision to become financially free.
2. Rapid Debt Reduction Strategies by John Avanzini – I know of no other book with as many effective debt reduction strategies as this one.
3. Rich Dad, Poor Dad by Robert Kiyosaki – Regardless of how you feel about the author, this book provides a proper mindset to model when it comes to money.

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Dan Meyers (Break Free Me)

  • Poor Charlie’s Almanack
  • The Richest Man in Babylon
  • Your Money or Your Life

 

 

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Tyrone Solee (Millionaire Acts)

  • Rich Dad Poor Dad
  • Cash Flow Quadrant
  • Think and Grow Rich

 

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Keith Cruise (Eco Institution)

  • Unshakable: Your Financial Freedom Playbook by Tony Robbins
  • The Truth About Your Future: The Money Guide You Need Now, Later and Much LAter by Ric Edelman
  • Ageproof: Living Longer without Running Out of Money or Breaking a Hip by Jean Chatzky & Michael Roizen

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Filiyana McGraves (FinancesWire)

  • Rich Dad Poor Dad, by Robert Kiyosaki
  • The Richest Man in Babylon by George Clason
  • The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley

 

Kerrie Munson (Financial Advice Now)

  • You’re So Money: Live Rich Even When You’re Not by Farnoosh Torabi
  • I Will Teach You To Be Rich by Ramit Sethi
  • Think and Grow Rich by Napoleon Hill

 

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Steve Stretton (The Dogs Deal)

  • The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley
  • Business Adventures by John Brooks
  • The Richest Man in Babylon by George S. Clason

 

Steve (Think Save Retire)

  • The Millionaire Nextdoor
  • Your Money or Your Life
  • Think and Grow Rich

Holly Johnson (Club Thrifty)

  • Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love
  • Broke Millennial
  • Dear Debt: A Story About Breaking Up with Debt
Mavian Arocha-Rowe (Chispa Magazine)
  • Rich Dad Poor Dad
  • Debt-Free Living: How to Get Out of Debt and Stay Out
  • EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches
  • Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude by Mark Douglas
  • The Disciplined Trader: Developing Winning Attitudes Hardcover by Mark Douglas
  • Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader by Al Brooks

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James Molet (Retirement Savvy)

  • The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
  • Rendezvous With Retirement: A Guide to Getting Fiscally Fit
  • The Intelligent Investor

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Sage Cincaid (Penny Stock Dream)

Rich Dad Poor Dad: I loved reading this book when I was in High School because of the way it gave the reader a look at the positive teachings that can come from both sides of the track. While learning from the have’s is commonly viewed as an obvious way to move ahead, many forget that there are still incredible things to learn from those that have not quite attained the monetary wealth that they seek.

Bollinger On Bollinger Bands: If you’re going to get involved in trading, it never hurts to know a thing or two about charts and if you’re going to chart, why not learn from a master? Bollinger Bands are one of the most powerful charting tools used by investors and traders across the world. After developping this genius indicator, which is quite literally named after him, it has been very nice of him to share this beauty with the rest of us. Don’t just utilize the tool on a computer generated chart, when you can learn the full reasoning from the mand behind them.

Penny Stocks For Dummies: Taboo? Yes, yes but if you are going to get involved in trading penny stocks (which are INCREDIBLY high risk) you mine as well get well acquainted with the basics before diving in with your actual money. Read through and understand the ins and outs, so that you can get a solid understanding of the common trappings found within the OTC Market, in order to garner more solid gains.

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Mark Seed  (My Own Advisor)

  • Millionaire Teacher
  • The Wealthy Barber Returns
  • The Single Best Investment

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Dr. Jason Cabler (Celebrating Financial Freedom)

  • Rich Dad Poor Dad (Robert Kiyosaki)
  • The Cashflow Quadrant(Robert Kiyosaki)
  • The Legacy Journey (Dave Ramsey)

 

 

Adam Piplica (Magical Penny)

  • The One Page Financial Plan -Carl Richards
  • Money – The Missing Manual – JD Roth
  • I Will Teach You To Be Rich- Ramit Sethi

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April Lewis-Parks (Miss MoneyBee and Consolidate Credit)

  • I Will Teach You to be Rich
  • Power Up How to Dig Out of Debt
  • Get a Financial Life

 

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Michelle Schroeder-Gardner (Making Sense of Cents)

My three favorite personal finance books include Broke Millennial, The Broke and Beautiful Life, and You Only Live Once. There are many other great ones too, such as The Recovering Spender, Zero Down Your Debt, Train Your Way to Financial Fitness, and more! 🙂

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Mitch Valent  (The Invest Blog)

The Road Beyond by Achim Neumann

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Mario (Debt Blag)

Broke Millennial: Stop Scraping By and Get Your Financial Life Together
By Erin Lowry
http://amzn.to/2uKsMvO

This book, written by a millennial, uses the financial failings of other milllennials to teach readers of any generation to do better. It does explain the different products like retirement accounts and includes how-to sections on reaching financial goals like buying a house, but more importantly, it helps the reader overcome the broken millennial mindset and replace it with one that works.

The Broke and Beautiful Life: Small Town Budget, Big City Dreams
By Stefanie O’Connell
http://amzn.to/2vvQYQd

The humor, insight, and superior writing alone are enough to make this book a pleasure to read. Unlike other books in the genre, the premise of this one starts far, far away from money. Rather, the premise begins with making the choices you’re passionate about, and only then does managing money come into the picture. In other words, it shows the reader how one can live a beautiful life — all without going broke.

The Millionaire Next Door
Thomas J. Staley
http://amzn.to/2umCtQc

This book is one I always come back to. It glosses over the importance of inter-generational wealth, but nevertheless challenges the popular image of how millionaires live. Most millionaires are thrifty and mindful of what they spend money on. More often than not, they’re more concerned with remaining financially independent than showing off that financial status.

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John Schmoll (Frugal Rules)

  • A Random Walk Down Wall Street
  • The Total Money Makeover
  • The Millionaire Next Door

 

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Diane Adam (Smart Money Simple Life)

  • Your Money or Your Life
  • Think and Grow Rich
  • Rich Dad, Poor Dad

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Joris Kempen (Kscripts)

  • Personal Finance for Dummies
  • The Total Money Makeover: A Proven Plan for Financial Fitness
  • Get a Financial Life: Personal Finance in Your Twenties and Thirties

 

Tim Artisan (Wealth Artisan)

#1: AARP’s Outsmarting the Scam Artists

This book is a bit odd as a suggestion for this list, but I speak about it in one of my latest articles regarding the PayPal Money Adder Scam. One important aspect in finance is capital preservation. There are many ways for a person to lose capital, including inflation outpacing yield, realizing losses on stock, etc.

Unfortunately, another way is falling for scams. Scams account for an astounding amount of capital loss. Bernie Madoff’s ponzi scheme alone accounted for a loss of nearly $65 billion dollars. This book is interesting because it not only provides examples and how to avoid them, but it also includes interviews with actual con artists who reveal some of the tricks they’ve employed to fool people. They really did a great job.

#2: The Millionaire Next Door

This book was possibly one of the first personal finance books I ever read. It was eye opening in that I’ve been steeped in pop-culture my entire life. You know, people throwing wads of cash in the air, singing in front of Ferraris, eating ice cream sundaes covered in gold leaf and purchasing Gulfstreams on the weekends.

The Millionaire Next Door may be the first exposure I had to understanding real wealth. I was surprised to find out that most wealthy people don’t believe they’re wealthy. Most wealthy people don’t buy expensive things and quite often are more frugal than people with a 100th of their net worth (or, gasp, negative net worth!).

Basically, The Millionaire Next Door gives people the very unsexy truth about wealth accumulation: it is done through hard work, good decisions and often doesn’t look nearly as cool as TV makes it out to seem. This should be on every high school students required reading list. I’m not joking at all.

#3: The Total Money Makeover

Cementing my understanding of the importance of frugality was this book. This one is a bit controversial because Dave Ramsey’s debt cutting advice isn’t the best, financially-speaking. What I mean is, there are better ways to cut your debt, meaning you’ll save more money. What this book brings to the table is a method the average person can easily follow which is what most people need.

A lot of blog posts I’ve seen hating on this book launch into the mathematics of finance (calculating interest rates, figuring out which debts should be paid off first to lower over all interest payments, etc.). That’s great for people like us, but the average person doesn’t want to do that kind of stuff. They want an easy answer, and that’s what this book provides.

I liken it to being really hungry. If someone said to me that they were starving, I wouldn’t tell them to go home and cook a gourmet meal. A gourmet meal would be higher quality, healthier and probably more delicious, but they have an immediate need that needs to be solved quickly. That’s what this book provides, a quick and dirty solution to a complex problem. It literally provides a road map that anyone can understand.

I recommend this book, not because it is the best financial advice out there, but because anyone who does follow it, versus doing what they’ve always done, will be substantially better off because of it. It’s a very simple system. I also wouldn’t suggest following his investment advice in the book. I think people are better served by speaking with a financial advisor who can customize a plan to their specific needs.

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9 comments

  1. I’m glad to be included here and also glad I’ve read 5 of the top 10. I think that’s pretty good; now I’ll have to consider checking out some of the rest of the books. 🙂

  2. Great round up, thanks for putting this together Kostas! I’ve read 6 of the top 10, so I have some reading to do… I can hardly emphasize how valuable of a read Poor Charlie’s Almanack is – it can really change your whole way of thinking about life.

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