Last updated on September 5, 2023
A recent study discovered that 56% of Americans have less than $1,000 in savings saved up. Even worse, more than half of these individuals wouldn’t be able to handle a $1,000 unexpected expense without borrowing money.
This situation isn’t just concerning because “saving money is important,” but because not having an emergency fund can leave you exposed to unexpected financial challenges.
Imagine if your car gets damaged in an accident or if you end up with medical bills from a broken bone. Life’s unexpected events can hit hard financially, and it’s important to be prepared.
This is just one example of why mastering your finances is crucial. There are other scenarios too, like retiring without constant financial worry, having enough to invest in new opportunities, or being able to give to others in need. Money can certainly make life smoother to a certain extent.
Luckily, there are many excellent books that can help us become financially savvy. At thoughts.money, we’ve gone through a lot of books so far, and we’ve found that the best finance books boil down to three key factors:
- Practical advice: The tips authors share should be straightforward and easy for you to put into practice right away. Money is a real thing, after all.
- Relevant information: Depending on your current situation and goals, you might need a beginner’s guide or something more advanced.
- Inspiring stories: Boring content won’t motivate you to take action. A compelling story, on the other hand, can inspire real change.
Following these criteria, we’ve carefully selected the 13 best finance books for you. If you want to get a grip on your finances, make smarter spending choices, save effectively, and understand how to invest for financial freedom, these books are worth considering.
Our list provides a favorite quote from each book, a brief summary, three key lessons, and reasons why you might want to read each one. You can read their summaries or grab a copy of the book itself.
With our help, navigating this page has been made easier. We’ve organized the list into different categories and added a table of contents for quick reference. You can also return to this section by using the arrow in the bottom right corner of the page.
Whether you’re dealing with financial challenges, struggling with money management habits, or feeling overwhelmed by math, these books could be the transformative tools you need. Here are the best finance books that can help you improve your financial well-being!
| Book Title | Author | Recommended For |
|---|---|---|
| Rich Dad Poor Dad | Robert T. Kiyosaki | Everyone |
| Think and Grow Rich | Napoleon Hill | Entrepreneurs |
| The Barefoot Investor | Scott Pape | Beginners |
| Money: Master The Game | Tony Robbins | Everyone |
| The Intelligent Investor | Benjamin Graham | Investors |
| The Millionaire Fastlane | MJ DeMarco | Entrepreneurs |
| I Will Teach You To Be Rich | Ramit Sethi | Saving Money |
| The Total Money Makeover | Dave Ramsey | Saving Money |
| The Millionaire Next Door | Thomas J. Stanley | Retirement |
| The Richest Man In Babylon | George Clason | Financial Freedom |
| The One-Page Financial Plan | Carl Richards | Beginners |
| Secrets Of The Millionaire Mind | T. Harv Eker | Financial Freedom |
| The Little Book That Beats The Market | Joel Greenblatt | Investors |
What you'll learn:
1. Rich Dad Poor Dad
| Book Title | Rich Dad Poor Dad by Robert T. Kiyosaki |
|---|---|
| 📚 About the Author | Robert T. Kiyosaki is an entrepreneur, investor, and educator. He’s best known for his Rich Dad Poor Dad series, where he shares his insights on financial education and building wealth. |
| 🌟 Top Quote | “The main reason that over 90 percent of the American public struggles financially is because they play not to lose. They don’t play to win.” — Robert T. Kiyosaki |
| 📖 What Is It about? | “Rich Dad Poor Dad” narrates the journey of a young boy who learns from two father figures, each representing contrasting financial perspectives—one affluent and the other modest. This engaging story aims to cultivate the mindset and financial acumen necessary to construct a life of affluence and independence. |
| 🤔 Why Read It? | This book might stir controversy, but its effectiveness lies in its ability to motivate action. It draws partially from Kiyosaki’s personal experiences, where he acquired contrasting money-handling insights from his own father and his best friend’s father. The lessons encompass a range of topics, including the conceptual understanding of money, fundamental accounting principles, budgeting techniques, investment strategies, and effective money management. As you progress through the narrative, you’ll find satisfaction in applying the practical tips provided. |
| 🚀 Key Takeaways | – Utilize your funds to acquire assets, not liabilities. – Focus on managing risks rather than avoiding them. – Prioritize learning over earning. |
| 🎯 Target Audience | Everyone who is interested in financial education |
2. Think and Grow Rich
| Book Title | Think and Grow Rich by Napoleon Hill |
|---|---|
| 📚 About the Author | Napoleon Hill was an American self-help author known for his influential books on success and personal development. He interviewed and studied over 500 successful individuals, including Andrew Carnegie, to distill their success principles. |
| 🌟 Favorite Quote | “The starting point of all achievement is desire. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.” — Napoleon Hill |
| 📖 What Is It about? | “Think and Grow Rich” is a compilation that distills the 13 prevailing habits shared by affluent and accomplished individuals. These insights were gleaned from the comprehensive study of more than 500 individuals, conducted over a span of two decades. |
| 🤔 Why Read It? | Regarded as one of the most renowned books on success globally, Napoleon Hill embarked on this journey after receiving guidance from steel magnate Andrew Carnegie. Over two decades, Hill conducted interviews with accomplished individuals. The culmination of his efforts materialized in 1937, resulting in a publication that has achieved a staggering 70 million copies sold. This book delves into the realms of thought, vision, and the proactive measures essential for achieving success. Particularly relevant for aspiring young entrepreneurs, it offers invaluable insights. |
| 🚀 Key Takeaways | – Employ autosuggestion to cultivate unwavering self-belief. – Embrace steadfastness and consistently stand by your decisions. – Join a Mastermind group to accelerate your learning journey. |
| 🎯 Target Audience | Aspiring entrepreneurs and individuals seeking success principles |
3. The Barefoot Investor
| Book Title | The Barefoot Investor by Scott Pape |
|---|---|
| 📚 About the Author | Scott Pape is an Australian personal finance expert, author, and media commentator. He grew up on a farm and went from wanting to get rich by trading stocks to becoming a trusted figure in the world of personal finance. |
| 🌟 Favorite Quote | “You can continue living in the past, beating yourself up about the money mistakes you made when you were younger, telling yourself you’ve left it too late…or you can rise up and make yourself proud.” — Scott Pape |
| 📖 What Is It About? | “The Barefoot Investor” serves as a straightforward guide by an Australian farm-raised individual, offering practical steps to assume control over your personal finances. Through an uncomplicated system, the book aims to eradicate debt, embrace the present, and pave the way for a tranquil retirement. |
| 🤔 Why Read It? | Scott Pape is widely regarded as Australia’s most reliable personal finance authority. With over 1 million copies sold, his book’s popularity speaks for itself. Despite aspiring to achieve wealth through stock trading despite his rural upbringing, Pape’s pursuit didn’t yield the desired results. Returning to his farm roots, he employs the uncomplicated rural life as a symbol for effective money management. Divided into three phases—plant, grow, and harvest—his book empowers you to seize control of your finances. Pape strikes a balance between straightforward advice and innovative strategies, making it an excellent starting point for beginners. |
| 🚀 Key Takeaways | – Streamline your money management by utilizing distinct bank accounts. -Begin by eliminating your credit cards before focusing on debt repayment. – Simplify your retirement planning by automating investments through index funds. |
| 🎯 Target Audience | Individuals looking to simplify their finances, eliminate debt, and start building wealth |
4. Money: Master The Game
| Book Title | Money: Master The Game by Tony Robbins |
|---|---|
| 📚 About the Author | Tony Robbins is a renowned life coach, author, and motivational speaker. He has dedicated his career to helping people achieve their goals and improve their lives through personal development and financial education. |
| 🌟 Favorite Quote | “You either master money, or, on some level, money masters you!” — Tony Robbins |
| 📖 What Is It About? | In “Money: Master The Game,” you’ll find a clear roadmap to financial freedom, articulated through seven straightforward steps. These steps are drawn from the wisdom of the world’s most accomplished billionaire investors, all of whom were interviewed by Tony Robbins. |
| 🤔 Why Read It? | For a decade, Tony Robbins immersed himself in research for this book. Following the 2008 financial crisis, his aim was to empower everyday individuals in securing a promising future. Conducting interviews with notable billionaire financial figures including Ray Dalio, Warren Buffett, and Jack Bogle, Robbins synthesized their most effective strategies. Within the book, you’ll discover an extensive range of insights, spanning mindset shifts, prudent saving techniques, and strategic asset allocation. Notably, the interview transcripts themselves hold substantial value, making the book’s price well worthwhile. |
| 🚀 Key Takeaways | – Always recognize the remarkable potential of compounding interest to grow your wealth over time. – To affirm the attainability of financial freedom, choose among three financial goals: covering essential expenses, adding enjoyment to the basics, or achieving complete financial independence. – Optimize your investment diversification through a 3-bucket strategy: a security bucket, a growth bucket, and a dream bucket. |
| 🎯 Target Audience | Individuals looking to learn from billionaire investors and apply their strategies to achieve financial freedom |
5. The Intelligent Investor
| Book Title | The Intelligent Investor by Benjamin Graham |
|---|---|
| 📚 About the Author | Benjamin Graham was a renowned economist, investor, and professor. He is widely regarded as the father of value investing and is known for his significant contributions to the field of finance. |
| 🌟 Favorite Quote | “Those who do not remember the past are condemned to repeat it.” — Benjamin Graham |
| 📖 What Is It About? | The Intelligent Investor delves into the concept of value investing, a strategy that centers on generating consistent and enduring profits by disregarding the current market fluctuations. Instead, it emphasizes selecting companies that possess substantial intrinsic value. This approach advocates a patient and long-term outlook, emphasizing the importance of fundamental company analysis over short-term market trends |
| 🤔 Why Read It? | According to Warren Buffett, this book stands as the ultimate masterpiece on investing ever crafted. It draws inspiration from the teachings of Benjamin Graham, which Warren Buffett himself embraced during his early years as a student. Value investors, following this philosophy, identify companies with strong fundamental qualities and acquire their shares at a reduced cost. Once obtained, they patiently await the unlocking of their true value over time. This enduring wisdom makes it a genuine and timeless masterpiece in the realm of finance. |
| 🚀 Key Takeaways | – Intelligent investing rests upon three fundamental principles: analyzing for the long term, safeguarding against losses, and avoiding pursuit of excessive profits. – Caution is warranted when dealing with Mr. Market, as his behavior can be quite irrational within the short and medium term. – Adhering to a steadfast investment formula will stand as a solid guide, ensuring favorable outcomes in your investment endeavors. |
| 🎯 Target Audience | Individuals interested in value investing strategies and timeless principles of intelligent investing |
6. The Millionaire Fastlane
| Book Title | The Millionaire Fastlane by MJ DeMarco |
|---|---|
| 📚 About the Author | MJ DeMarco is an entrepreneur, author, and motivational speaker. He is known for his unconventional approach to wealth-building and his emphasis on taking control of one’s financial future. |
| 🌟 Favorite Quote | “Many people want to change their life, but they are not willing to change their choices, and ultimately this changes nothing.” — MJ DeMarco |
| 📖 What Is It About? | The Millionaire Fastlane highlights the flaws of the traditional “get a degree, get a job, work hard, retire rich” approach, introduces a fresh definition of wealth, and guides you toward achieving early retirement. |
| 🤔 Why Read It? | While the title may suggest otherwise, this book is far from a get-rich-quick scheme. Rather, it presents a narrative of persistence, audacity, embracing risks, and thinking outside the box. As a teenager, MJ DeMarco’s encounter with a man driving a Lamborghini ignited his desire for wealth. However, he was unwilling to toil for decades. Through launching, selling, and reacquiring his own company, he achieved multi-millionaire status by retiring at the age of 33. This account is truly motivating and inspiring. |
| 🚀 Key Takeaways | – True wealth comprises three essential elements—health, relationships, and freedom—where money plays only a supporting role. – It’s vital to reach a stage where your income isn’t tied to the hours you work. – Embrace a producer’s mindset, prioritizing creation over consumption. |
| 🎯 Target Audience | Individuals seeking a fresh perspective on wealth-building, entrepreneurship, and achieving financial independence. |
7. I Will Teach You To Be Rich
| Book Title | I Will Teach You To Be Rich by Ramit Sethi |
|---|---|
| 📚 About the Author | Ramit Sethi is a personal finance expert, author, and entrepreneur. He is known for his practical advice on managing money and achieving financial goals. |
| 🌟 Favorite Quote | “Getting started is more important than becoming an expert.” — Ramit Sethi |
| 📖 What Is It About? | I Will Teach You To Be Rich helps you save money on autopilot while allowing yourself to spend guilt-free on the things you enjoy. |
| 🤔 Why Read It? | Ramit Sethi’s blog started in his dorm room in 2004. After selling an ebook for a few dollars and seeing the magic of earning online, he doubled down. 15 years later, GrowthLab makes millions in annual revenue with online courses. His New York Times bestseller will help you cut costs in every area of life, splurge on the things you enjoy, and automate your retirement planning. A down-to-earth perspective from someone who’s done it. |
| 🚀 Key Takeaways | – You’re the only one responsible for your financial problems. – Know how much money you have coming in and then automatically direct it where you want it to end up. – Start investing today, even if it’s just $1. |
| 🎯 Target Audience | Individuals looking to improve their financial habits and achieve financial goals. |
8. The Total Money Makeover
| Book Title | The Total Money Makeover by Dave Ramsey |
|---|---|
| 📚 About the Author | Dave Ramsey is a renowned personal finance expert, author, and radio host. He is known for his practical advice on getting out of debt and building a strong financial foundation. |
| 🌟 Favorite Quote | “We buy things we don’t need with money we don’t have to impress people we don’t like.” — Dave Ramsey |
| 📖 What Is It About? | The Total Money Makeover shows you how to stop accepting debt as normal, eliminate it forever in small increments, and build the financial future you deserve in seven steps. |
| 🤔 Why Read It? | The Dave Ramsey Show is one of USA’s most popular radio shows ever. Ramsey helps people become debt-free, at which point they go on his show to talk about the experience. He also helps them with the emotional issues of tackling money and goes beyond mere mathematical tips. Ramsey encourages you to tackle your debts from small to large, then slowly start saving, and only invest after you’ve covered the basics. A rock-solid approach to finance. |
| 🚀 Key Takeaways | – Before you do anything else, put away $1,000 in an emergency fund. – Start paying down your debts, beginning with the smallest. – Grow your emergency fund until you have at least a three-month buffer. |
| 🎯 Target Audience | Individuals seeking to eliminate debt, build financial stability, and establish healthy money habits. |
9. The Millionaire Next Door
| Book Title | The Millionaire Next Door by Thomas J. Stanley |
|---|---|
| 📚 About the Author | Thomas J. Stanley was a prominent author, lecturer, and researcher in the field of wealthy individuals’ behavior and habits. He extensively studied the characteristics of millionaires and their financial practices. |
| 🌟 Favorite Quote | “Whatever your income, always live below your means.” — Thomas J. Stanley |
| 📖 What Is It About? | “The Millionaire Next Door” offers insights into straightforward spending and saving practices that result in accumulating more savings than what many individuals earn throughout their lifetime. This guidance assists in steering clear of crucial financial errors and paves the way toward achieving financial independence. |
| 🤔 Why Read It? | Stanley, along with his co-author William Danko, dedicated years to studying individuals with average earnings and significant net worth. Their extensive research underscores the importance of evading the status of a UAW, or under-accumulator of wealth. The book elucidates that many individuals have the capacity to save up to half of their income, and it outlines the compelling reasons why this endeavor holds substantial value in the long term. |
| 🚀 Key Takeaways | – Cultivate a habit of responsible saving from the point at which your income surpasses your basic needs. – Employ a straightforward net worth formula to assess whether you’re meeting your financial aspirations. – Steer clear of succumbing to “economic outpatient care,” which involves excessive spending to financially support others, as it can impede your progress towards your objectives. |
| 🎯 Target Audience | Individuals interested in understanding the habits and behaviors of millionaires and learning practical strategies for building wealth over time. |
10. The Richest Man In Babylon
| Book Title | The Richest Man In Babylon by George Clason |
|---|---|
| 📚 About the Author | George S. Clason was a soldier, businessman, and writer best known for his financial advice classic “The Richest Man in Babylon.” He creatively presented timeless money principles through ancient Babylonian parables. |
| 🌟 Favorite Quote | “Advice is one thing that is freely given away, but watch that you only take what is worth having.” — George S. Clason |
| 📖 What Is It About? | The Richest Man In Babylon imparts practical financial guidance that remains applicable in the present day, conveyed through stories and parables set in the historical context of ancient Babylon. |
| 🤔 Why Read It? | In 1926, George S. Clason, a soldier, businessman, and writer, displayed ingenuity by publishing this book. Rather than providing mundane and unsubstantiated advice, he skillfully wove his teachings into narratives rooted in the world of Babylonians. Recognized for their remarkable achievements, the Babylonians endowed George with the capacity to impart these lessons to us. The wisdom contained within remains just as relevant today as it was in the past. |
| 🚀 Key Takeaways | – Embrace a lifestyle that resides beneath your earnings. – Cultivate the art of attracting luck. – Refrain from accumulating debt. |
| 🎯 Target Audience | Individuals interested in learning practical financial principles through engaging ancient parables and applying them to their modern lives. |
11. The One-Page Financial Plan
| Book Title | The One-Page Financial Plan by Carl Richards |
|---|---|
| 📚 About the Author | Carl Richards is a seasoned financial advisor with over 20 years of experience, having worked at firms like Wells Fargo and Merrill Lynch. He gained recognition for his simple sketches and straightforward approach to personal finance. |
| 🌟 Favorite Quote | “People who understand interest earn it. People who don’t pay it.” — Carl Richards |
| 📖 What Is It About? | The One-Page Financial Plan offers a simplified approach to financial planning, alleviating the sense of burden often felt by those lacking discipline. It guides you in mapping out your complete financial future on just one page. |
| 🤔 Why Read It? | With over 40,000 hours of experience as a financial advisor, Carl Richards has dedicated the past two decades to his role, serving at institutions like Wells Fargo and Merrill Lynch. His sketches, some of which gained viral popularity on Instagram, visually depict the concepts that guided his own financial planning journey with his wife, condensing their insights onto a single piece of paper. Through his book, he imparts the same approach to help you achieve financial clarity. |
| 🚀 Key Takeaways | – Establish clear financial goals while remaining adaptable to adjustments along the journey. – Transform the often daunting task of budgeting into an engaging game that injects a sense of enjoyment into saving. – Recognize that paying off debt is an investment in securing a more prosperous future for yourself. |
| 🎯 Target Audience | Individuals seeking a straightforward and concise approach to financial planning, especially those who struggle with traditional complex methods. |
12. Secrets Of The Millionaire Mind
| Book Title | Secrets Of The Millionaire Mind by T. Harv Eker |
|---|---|
| 📚 About the Author | T. Harv Eker is an author, businessman, and motivational speaker known for his insights into wealth and success. He has developed various training programs aimed at helping individuals achieve financial abundance and personal growth. |
| 🌟 Favorite Quote | “If you want to change the fruits, you will first have to change the roots. If you want to change the visible, you must first change the invisible.” — T. Harv Eker |
| 📖 What Is It About? | “Secrets Of The Millionaire Mind” challenges the notion that our financial success is predestined by birth circumstances, offering a roadmap to shatter mental obstacles and adopt the mindset and behaviors that characterize wealthy individuals. |
| 🤔 Why Read It? | Following a turbulent journey of creating, selling, experiencing losses, and encountering failures across more than a dozen business ventures, T. Harv Eker conducted a thorough examination of his own connection with money. He discovered that he had unwittingly mirrored the financial approaches of his parents, a pattern that resonates with many of us. “Secrets Of The Millionaire Mind” offers a guide to dismantling the detrimental elements of this conditioning and fostering a foundation of robust financial mindset and practices. |
| 🚀 Key Takeaways | – Your parents’ income strategies often subconsciously shape your own financial path. – To assert authority over your finances, it’s crucial to acknowledge that you are in control. – Developing a negative view of wealthy individuals can hinder your own path to financial prosperity. |
| 🎯 Target Audience | Individuals seeking to overcome mental barriers related to wealth and adopt a more empowered and abundance-oriented mindset towards money and success. |
13. The Little Book That Beats The Market
| Book Title | The Little Book That Still Beats The Market by Joel Greenblatt |
|---|---|
| 📚 About the Author | Joel Greenblatt is a highly regarded investor, author, and professor. He is the founder of Gotham Capital, an investment management firm known for its impressive track record. Greenblatt is recognized for his value investing approach and has also authored several other books on finance. |
| 🌟 Favorite Quote | “Choosing individual stocks without any idea of what you’re looking for is like running through a dynamite factory with a burning match. You may live, but you’re still an idiot.” — Joel Greenblatt |
| 📖 What Is It About? | The Little Book That (Still) Beats The Market provides a systematic guide for applying a straightforward, mathematical formula for selecting stocks, ensuring sustained profits over the long term. |
| 🤔 Why Read It? | Joel Greenblatt is a renowned figure in the world of investing. Through his investment firm Gotham Funds, he achieved an impressive annual return of over 40% spanning two decades, from 1986 to 2006. Using a straightforward formula, Greenblatt successfully transformed Benjamin Graham’s value investing principles into a streamlined system requiring only annual updates. In 2005, he documented this approach, intending to pass it down to his children. If you’re seeking a targeted and uncomplicated investment strategy, this book offers a valuable option. |
| 🚀 Key Takeaways | – Assess stocks based on their earnings yield and return on capital. – Combine and rank these two factors to identify promising companies. – Embrace patience, as it is the key to the effectiveness of this formula, even if it’s not the most popular approach. |
| 🎯 Target Audience | Individuals interested in learning a straightforward investment strategy that focuses on selecting stocks based on a mathematical formula for long-term profitability. |
