Every January, many people make resolutions to save money, pay down debt, and live more frugally. However, by Valentine’s Day, we’ve often given up on these goals and returned to aimlessly spending.
If you want to stick to your plan for the entire year, though, personal finance books cab be very helpful at guiding you along your financial journey.
Here are five personal finance books we recommend reading this year.
Your Money or Your Life by Vicki Robin and Joe Dominguez
This classic encourages readers to rethink their relationship with money. It emphasizes the concept of trading your time and energy for money, offering a step-by-step guide to achieving financial independence and aligning your spending with your values.
The Total Money Makeover by Dave Ramsey
Dave Ramsey’s book provides practical advice on getting out of debt, building an emergency fund, and creating a solid financial plan. It offers actionable steps and a straightforward approach to managing money.
The Total Money Makeover has a 4.6 out of 5 on Amazon. One of the top reviews says “It does a great job of explaining how to avoid bad debt and avoid making bad financial decisions that we think will pay off.”
The Automatic Millionaire by David Bach
David Bach focuses on the power of automation in building wealth. The book emphasizes the importance of setting up automatic processes for saving and investing, making it accessible for individuals with busy lifestyles.
The Richest Man in Babylon by George S. Clason
Written in parables, this timeless classic imparts financial wisdom through ancient Babylonian tales. It covers fundamental principles of wealth-building, such as saving, investing, and avoiding debt, in an engaging and accessible manner. This is the book Dave Ramsey recommends.
Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry
Geared towards younger generations, this book provides practical advice on managing money, tackling debt, and building a solid financial foundation. Erin Lowry’s approach is relatable, making personal finance concepts accessible for millennials and beyond.
Broke Millennial: Stop Scraping By and Get Your Financial Life Together has a 4.6 out of 5 on Amazon. One of top reviews says “I got this book as a suggestion from a website and it totally changed my outlook on money.”
Do you have personal finance books you recommend? Tell us in the comments below or on our Facebook page.
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