If you’re looking for a handy book for your summer reading, Bankrate’s list of the best personal finance books for 2022 offers insightful and reliable expertise on what to do with your money.
“The Millionaire Next Door: The Surprising Secrets of America’s Wealthy”, by Thomas J. Stanley and William D. Danko
Who is this book addressed to:
Anyone who wants to learn from the financial behavior of millionaires.
Why the book made the Bankrate list:
Being rich doesn’t mean being flashy. In fact, it’s the opposite. “The Millionaire Next Door” reveals that many wealthy people are hesitant to buy the most expensive cars and take the most over-the-top vacations, opting instead for a disciplined approach to their money. It turns out that being a millionaire is more about being thrifty.
“How to Make Your Money Last: The Essential Guide to Retirement,” by Jane Bryant Quinn
Who is this book addressed to:
Retirees looking to build wealth through sound investment advice.
Why the Book Made the Bankate List:
If you have questions about how to maintain your investments in retirement, How to Make Your Money Last has the answers. With thoughtful details on ways to supplement Social Security income, investments, and more, Quinn shows how to create a recurring paycheck that will see you through retirement comfortably.
“A Random Walk Through Wall Street: The Proven Strategy for Successful Investing”, by Burton G. Malkiel
Who is this book addressed to:
Anyone (especially business students) who wants to understand how the stock market works.
Why the book made the Bankrate list:
If you’re new to investing, A Random Walk Down Wall Street presents a solid plan for success. Malkiel details a variety of investment strategies, including smart beta investing (which combines the benefits of passive investing with the benefits of active investing strategies) and finding opportunities in emerging markets. In the process, the reader gains an understanding of the complex world of investing.
“The Intelligent Investor: The Definitive Book on Value Investing”, by Benjamin Graham
Who is this book addressed to:
Readers who wish to better understand the risks and rewards of investing.
Why the book made the Bankrate list:
“The Intelligent Investor” is the gold standard of investing, teaching the importance of value investing, which enables investors to develop long-term strategies. And with up-to-date insights from financial journalist Jason Zweig, readers will understand long-term values and how they can fit into today’s financial landscape.
‘Bunny Money (Max and Ruby)’ by Rosemary Wells
Who is this book addressed to:
Children who want to learn the basics of personal finance.
Why the book made the Bankrate list:
The story in this children’s book is about rabbits Max and Ruby who try to buy their grandmother a present for her birthday. As they leave, they encounter a series of adventures that deplete their money supply. During this process, children discover the impact of their decisions on the money available to them.
“Spend Well, Live Rich: How to Get What You Want with the Money You Have”, by Michelle Singletary
Who is this book addressed to:
Readers who want practical advice on how to manage their money.
Why the book made the Bankrate list:
Singletary recounts the “7 money mantras for a richer life” she learned from her grandmother. These mantras may be simple in nature, but they provide a solid foundation for anyone hoping to strengthen their financial behavior. The book differentiates between wants and needs and why you should sweat the small stuff.
‘Broke Millennial: Stop Scraping By and Get Your Financial Life Together’, by Erin Lowry
Who is this book addressed to:
Millennials who want to understand the basics of money management and how to avoid common financial mistakes.
Why the book made the Bankrate list:
Lowry creates a plan that millennials (ages 26-41) can use to move from paycheck-to-paycheck living to achieving financial goals. She delves into the thought process behind making financial decisions, such as, “Do you treat your money like a Tinder date or a wedding? By providing actionable information and relatable stories, Lowry gives people in their 20s, 30s and early 40s the foundation they need to make better financial decisions.
“Achieving a Financial Life: Personal Finance in Your 20s and 30s”, by Beth Kobliner
Who is this book addressed to:
People in their 20s and 30s looking for advice on managing their finances.
Why This Book Made Bankrate’s List:
“Get a Financial Life” covers all aspects of personal finance, from how to file taxes and invest, to strategies for improving your credit scores. Kobliner creates a guide that encompasses all aspects of your financial life, with practical suggestions for achieving your financial goals.
“When She Earns More: 10 Rules for Women Earners,” by Farnoosh Torabi
Who is this book addressed to:
Women breadwinners seeking to balance the health of their relationships and finances.
Why This Book Made Bankrate’s List:
Torabi touches on a relevant topic in today’s social and financial climate: an increasing number of wives are earning more money than their husbands. In 2020, women earned more than their male partners in 29.9% of marriages, according to the Census Bureau. Twenty years earlier, the percentage was more than 6 percentage points lower (23.3%). In “When She Earns More”, Torabi points out that there are significant financial but also psychological effects that the changing role of the breadwinner has on those in committed relationships. Her advice is for women to make the most of their financial situation and maintain healthy relationships, but it can also help men understand the dynamics of relationships when their partner is the breadwinner.
“Simple Wealth: The Practical Guide to Transforming Your Relationship with Money and Living Abundantly,” by Holly Morphew
Who is this book addressed to:
Consumers looking to have more confidence in their financial decisions.
Why This Book Made Bankrate’s List:
Making a change in your financial life also means making a change in your personal life. “Simple Wealth” shows how personal life decisions and financial decisions go hand in hand, providing practical advice in easy-to-understand terms. Morphew, a financial advisor, explains not only how to escape the “money shame cycle”, but also how to take positive steps towards financial independence and success.