There has never been a better time to take control of your finances than now. So here are some of the best books on personal finance that will help you learn everything from the basics of money to great investing skills.
Ideal for short stories: The psychology of money – Morgan Housel
Written by Morgan, longtime Motley Fool columnist, this book is great for learning why some people behave in specific ways when it comes to their personal finances.
The book’s format uses 19 short stories, each one describing different ways people relate to money. This makes it one of the best finance books to get in and out of.
Ultimately, the purpose of âThe Psychology of Moneyâ is to teach you the benefit of making sound financial decisions, by shedding light on the relationship between your behavior and the flow of money in your life. Housel does it in a really dumb (not dumb!) Way: without the confusing jargon and boring prose most financial writers use.
Great for a positive mindset for the money: Rich daddy, poor daddy – Robert Kiyosaki
After nearly two decades of off-the-shelf sales, this is surely becoming a classic among finance books. And for good reason.
Much of the success of this book is its accessibility. Kiyosaki uses a mix of anecdotes and practical examples to teach you how to get started with your finances.
This style offers a more relevant angle to some of the more stuffy literatures. Kiyosaki uses the examples of two important people, a “rich daddy” and a “poor daddy,” to demonstrate how your finances can dictate the course of your life.
Ideal for the basics: Silver: User Guide – Laura Whateley
If you’re just starting your personal finance journey, this is one of the best books to get you started. It’s a how-to guide to all things money and has remained a bestseller since its publication.
In âMoney: A User’s Guideâ you will find explanations of all the basic financial terms you need to know. It also contains helpful advice on topics such as housing, student loans, pensions, and ethical investing.
It might be too basic for those who already know the ropes, but it’s a perfect finance book if you’re looking for a foundation.
Ideal for passive investing: The simple path to wealth – JL Collins
This book began as a series of letters Collins wrote for his daughter. He hoped to pass on valuable information once she was old enough to control her finances.
But the material was so positive and straightforward, he was encouraged to release all the details to lucky people like me and you!
In “The Simple Path to Wealth” you will learn about ways to build wealth through simple investment methods. Collins will describe how you can use compound interest and some investments to create financial independence.
Ideal for women: Money lessons – Lisa Conway-Hughes
Let’s face it, there are plenty of dusty old books written by men for men. With “Money Lessons“, you will have a new approach to personal finances. Although the target audience is young women, anyone who needs help managing their money would benefit from reading this.
Based on her 15 years of experience as a financial advisor, Conway-Hughes provides practical advice on how you can improve your financial situation.
In this book, you’ll get down-to-earth explanations on topics such as âdebt reliefâ and tips on how to use technology and apps to your advantage.
Great for Millennials: Broken millennial -Erin Lowry
The title somehow betrays him. But when it comes to books, this is the best personal finance article for the broke 20 or 30 year old who are tired of “getting by”.
In âBroke Millennialâ, Lowry provides you with a step-by-step guide to going from âflat brokeâ to âbogus financierâ. All of this is done by covering relevant topics such as your relationship with money and how to keep socializing without breaking the bank.
Ideal for serious investors: The smart investor – Benjamin Graham
You’ll find it at the top of many âbest finance booksâ rankings, and for good reason. Graham literally wrote the book on Value Investing, with Warren Buffett being one of his most notable students.
This book is more for the finance nerds out there. You will find many deep dives in historical data which may not be appealing to some. However, what’s great about this book are the updated editions. Inside you’ll find additional chapters that explain things with a modern twist.
If you are someone who envisions a future for yourself by investing in individual stocks, then this is definitely one of the best finance books to cut your teeth.
Books might not be your cup of tea and that’s okay! If you prefer information that is a little easier to digest, we have plenty of resources here at The Motley Fool UK Personal Finance that will help you get smarter, happier, and richer!
Still have questions ?
If you haven’t found everything you were looking for on this page, we have other ways to help:
Some of the offers on The Motley Fool UK site are from our partners – this is how we make money and this site continues to work. But does this have an impact on our grades? Nope. Our commitment is for you. If a product isn’t good, our rating will reflect that, or we won’t list it at all. Additionally, while we aim to showcase the best products available, we do not review every product on the market. Find out more here. The above statements are owned by The Motley Fool only and have not been provided or endorsed by any bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of the board of directors of The Motley Fool. The Motley Fool UK recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard and Tesco.