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Take Control Of Your Financial Health With The Best Personal Finance Books
Last updated: 26 Jul 2021
There are many mysteries in this world - Bigfoot, the Loch Ness Monster, and why many educational institutions don’t teach students personal finance. Even if you aren’t business-savvy, personal finance is a vital topic for you and pretty much anyone to understand, as knowing what to do with your money can make the difference between living paycheck to paycheck and having thousands of dollars in extra income.
Personal finance isn’t as tricky as some people make it out to be, and these seven sources of personal finance knowledge are prime examples of this point.
Best Personal Finance Book Worth Considering in 2021
Ah yes, the For Dummies series. Widely renowned for providing knowledge and insights without the technical mambo jumbo, it’s the perfect sort of text for the average person to understand without having to Google a word every other minute. Thankfully, there’s also a Dummies book for personal finance, and you don’t need to have a degree in business to fully understand and grasp the concepts introduced in this text.
Personal finance should be easy to learn and understand, and this book helps with that perfectly. Too many people brush off personal finance as unnecessarily difficult, but with a book designed to cater to people who don’t prefer racking their brains too much to learn, you can help your friend who’s in a financial crisis by giving them one of these. It may not guarantee their success, but pointing them to a step towards the right direction is far better than nothing.
While the first book was great for your average Joe, you may want something a little more comprehensive if you’re already in the field of business. If you’re working in business, then having knowledge of more advanced concepts can help you manage your money at a higher level. This book is especially recommended for those who have money to spare and don’t know where to put it. (Spoiler alert: it involves investing).
And speaking of investing, many people consider it to be too difficult to get into. But ask anybody involved in the stock market, and they’ll say that it’s far easier than you think, especially if you aren’t aiming for extreme profits. Safe investments do exist, and with this book, you’ll be able to know where to find them and how to make a modest income off of your existing savings.
Like the Dummies book, The Index Card is aimed towards people who aren’t keen on learning fancy new words to understand personal finance. The book makes a key point that personal finance doesn’t have to be so confusing, and with a few simple steps, you can start to picture personal finance more clearly than you probably ever did before. It also takes a jab at people who try to overcomplicate the idea by making it sound so confusing when in reality, it’s far more basic.
What if you wanted to get your finances sorted out as soon as possible? You’d need a crash course for that. This crash course spans 30 days of personal finance, and by the end of it, you’ll realize that finance is much simpler than what it’s commonly conceived to be. 30 days may sound like a very long time period for some, especially if you’re forced to make compromises during that time period, but by the end of the month, you should get a general idea of how personal finance works and how effective it is.
The book is filled with lighthearted and funny text and is aimed towards a younger audience, but anybody with a sense of humor can enjoy this book, too. This is perfect for folk who can’t be bothered to read textbooks void of personality. Sometimes, the best way to learn is by adding a personal, casual touch to the text, and when it comes to a topic such as personal finance, it definitely helps.
For many years, personal finances have been largely handled by men in households. However, women can do just as good of a job saving money and getting rid of debt. This book teaches women how to take control of their financial situation and turn it around to even make a profit. With relatable text that really speaks to women learning personal finance, it’s the ideal book for the independent, money-smart, modern woman
This infographic may not be as comprehensive as the books on this list. After all, it is an infographic. However, because of its nature, it provides key information that you can easily look at and remind yourself of at all times. Frame this or post this on your walls and you’ll never forget the key concepts of personal finance anytime soon. Bonus points if you can remember everything in the infographic after a week of posting it up.
When starting off personal financing, you may find that you don’t learn well with layman’s terms. And you’re not alone – some prefer the technical jargon and the learning process required to understand it. This guide is slightly more serious than other beginner guides, but provides critical information all the same, provided that you can understand it.
It is worth noting that when reading this beginner’s guide, you’ll likely need a phone or dictionary beside you, especially if English isn’t your first language. With that being said, the book does offer great insight and goes pretty deep into the principles behind personal finance, so all that effort looking up words you aren’t familiar with will pay off at the end.
Few books can provide better sources of financial education than personal finance books. Pretty much every person on the planet can benefit from learning personal finance, and even the fundamentals alone should be enough to give you a better idea of how to manage your money. Here’s what you need to remember when buying one.
What is a Personal Finance Book?
A personal finance book is a book that teaches the reader concepts on personal finance. As a topic, personal finance covers methods in which one can minimize expenses and maximize wealth through saving and investing. It also deals with mindsets towards spending and buying, and understanding what’s worth spending on and what’s not.
Why do you need Personal Finance Books?
Here’s why you need personal finance books.
You can minimize your debt
For those who struggle with debt, learning how to manage your finances can work wonders. Many people in debt often have the money to become debtless much sooner, but because of spending habits and the like, they end up staying in debt, causing them to incur more interest expenses. With personal finance books, you can learn how to minimize your expenses so you can have more money to pay off your debts with.
You can make money
Yes, it is possible. You can technically turn your savings and extra money into income, though it isn’t as glorious as others claim it to be. Many people consider investing as some sort of “scam” because of the prevalence of investment-based scams, but in truth, investments are a simple and safe way to earn a little extra money here and there without actually working.
For those unaware, investing essentially works by buying shares, stocks, and the like. They are then sold when the value is higher, hence giving you a profit. There are many shares in the market with slow, but guaranteed growth, and investing safely can allow you to earn money without having to worry about experiencing a loss.
In most cases, you’ll only be earning a little extra money through investing, but this is far better than keeping your money stagnant, with the value even lowering due to inflation. If you aren’t sure what to invest in, many personal finance books detail where exactly you should start looking for investments.
Things to consider when buying Personal Finance Books
Keep these tips in mind when buying a personal finance book.
The length of a personal finance book can make or break many readers. Often, readers want to get something out of what they read, and unless they can get crucial information soon, it is unlikely for them to finish reading the whole thing. Note that thicker books don’t necessarily mean that they’re more “boring”, so to speak. If written well, the book can have regular chapters wherein the reader can gain something and learn something new, thereby keeping their interest in the book.
When picking a book, however, you, unfortunately, cannot tell which books are able to keep you engaged at a glance. You’ll have to rely on reviews made by customers and critics to get a better idea of the pacing and lengthiness of the text, among other things. This is why many people go for the most popular books - if many people give it high ratings, it’s likely that the book is a great source of knowledge.
Readability refers to how simple it is for the book to be read and understood. In the case of personal finance, a topic that everybody should learn, the book ideally needs to explain things in layman’s terms while also being able to explain complex topics. This can be a difficult task for many writers, as often the best way to explain certain concepts requires industry-specific jargon, many of which are unfamiliar to the majority of readers.
Readability is more of a convenience than a must-have, however. At the end of the day, you can always look up terms you don’t understand online, and you’ll eventually understand the whole thing. It won’t be as simple as reading simplified text, but you’ll get a better understanding of personal finance that way. In contrast, you can more quickly understand personal finance by reading more casual books, but at the cost of learning more niche topics and ideas. You’ll need to sacrifice one for the other - but in many cases, you probably want something that’s easier to understand.
Personal Finance Books price range
Personal finance books help you save your money, but you’ll have to spend money to learn how to do so, which is somewhat ironic. Fortunately, personal finance books aren’t nearly as expensive as other informative books, and you can get a personal finance book for $10-$20 as an e-book, or $20-$50 as a hardback. Prices vary, of course, from book to book, but you’ll generally save much more money buying a digital copy rather than buying a hardbound book.
How we choose the best Best Personal Finance Books
We choose our personal finance books based on their length, readability, and customer reviews.
Personal Finance Book FAQs
Are personal finance books worth it?
Personal finance books introduce many different concepts that many people are unfamiliar with and can be a great way for someone to learn how to save money.
What personal finance book should I get?
While we do have some recommended books to check out, it is best to decide on your own what books you should pick, as it is ultimately you who’s learning, and no one else.
Nicole is a first grade teacher who entered the field of education for one simple reason: she loves helping people. True satisfaction for Nicole comes when her students demonstrate improvements due to her teaching, and she hopes her input will help educators around the world enhance their classrooms.