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13 Books on Money to Transform Your Finance Management

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13 Books on Money to Transform Your Finance Management

One of the most obvious measures of our success is our wealth. That said, that statement alone can be taken in various directions. Some people think it’s a matter of how much wealth you have. We, on the other hand, believe that it’s more of how much you’re able to retain and manage from month to month and year to year.

Below is a list of books on money that we believe will transform your way of thinking about money management in several ways. From sparking interesting conversations about it to making plans for your financial future, this list covers many aspects of finance management.

How to Choose a Good Book on Money

To help you find the best books on money to reach your personal finance goals, we’ve done the research for you and have formed this list of criteria.

  • Relevant – Even though money has been around for a long time, the economy has changed a lot over the years. We want to ensure you the books recommended are offering relevant advice that would be ideal in any financial environment.
  • Offers a system – Financial advice is great, but it doesn’t always stick. Each book should overall provide tips and habits that will allow you to build a system to help you manage your money.
  • Sparks conversations – Reading about money is one thing, but these books should also encourage you to talk more about money with those around you to some extent. Even though we all have our own ways of managing money, discussing money can have merits in some circumstances.
  • Practical – While these books provide general financial advice, they should remain practical in that the advice should be obtainable for people to achieve. Most people don’t have the funds necessary to start a real estate business, but they can put away a few hundred dollars into a savings or investment account every month. Practical books will help you achieve your goals.

1. I Will Teach You to Be Rich

    As the title of the book suggests, this book delivers on a plan to be rich. The author, Ramit Sethi, has a background in personal finance and provides a detailed six-week plan for living out a “rich life.”

    This book on money covers a wide variety of aspects like using credit cards and maximizing rewards from them, opening a high-yield savings account, and automating accounts where you can save money with no effort from you at all. This book is filled with nothing but pure actions that are outlined and sectioned off in a good way.

    Buy “I Will Teach You to Be Rich” here.

    2. The Automatic Millionaire

      Another one of the great books on money that will help you build a system is The Automatic Millionaire. Written by David Bach, a financial writer, this book focuses on our ability to automate our finances and builds a system based on that.

      The idea with this book is to give you the knowledge and information to put together a system in an afternoon that will make a large impact on your financial future for the better.

      Buy “The Automatic Millionaire” here.

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      3. The Simple Path to Wealth

        The principles from this book on money were first presented by the author to his daughter through a series of letters. As such, you’d expect there to be plenty of actionable advice when it comes to investing and overall saving. Considering the direction of the book further, this book is light and has a casual tone to it. That said, it won’t shy away from complicated explanations. It’s one of the highest-rated personal finance books around and it’s clear why it is.

        Buy “The Simple Path to Wealth” here.

        4. Retire Before Mom and Dad

          This is a book for those who are looking to be involved in the FIRE movement. FIRE stands for Financially Independent, Retire Early, and it’s clear why many people are striving for this or considering it.

          This book delves into the principles and acts as a primer for this movement and going down this path. That said, it also considers other principles that make FIRE more attainable or easier to achieve, even if you’re not planning on retirement in the next few years.

          Buy “Retire Before Mom and Dad” here.

          5. When She Makes More

            Money is a topic that most people shy away from, and it makes sense. Money is a status thing and seeing someone making more can cause unease or resentment. Money can also strain relationships and overall cause harm. People fear talking about money and it’s those emotions that cause problems in the first place.

            This book on money is powerful as it provides opportunities for women to be talking to their partner about money. After all, stereotypically speaking, men are meant to be making more money than women and it’s a sore spot when it’s the reverse. This book is fantastic because the author, Farnoosh Torabi, lives a life where she is the one making more than her partner.

            Getting into details, this book looks at the realities and the various rules she’s set up with her partner. She also discusses ways to maximize earnings while minimizing conflict.

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            Buy “When She Makes More” here.

            6. Women & Money

              Suze Orman is a financial advisor who most notably ran a show called The Suze Orman Show from 2002 to 2015. In the show, she received calls from viewers who asked for financial advice and whether or not it’s a good idea to buy various items.

              Orman has years of experience working in this field and pools a lot of her knowledge into the various books she’s published. Women & Money is one of the more recent ones. This book in particular talks about how women earn, invest, and save while also giving practical advice on retirement, marriage, and other topics.

              Whether you are 20 years old or 60, this is a good choice if you’re looking to learn more.

              Buy “Women & Money” here.

              7. Think and Grow Rich

                This famous book has been around for almost 90 years and still holds some relevant information. While this book on money won’t tell you about 401Ks and building a portfolio, it takes a turn to the mindset of building wealth.

                Through this book, you’ll learn more about desire and persistence as opposed to strategy or money management. While this is an odd book on our list, we believe it’s still important as the stories and the lessons are still relevant to your money attitude today.

                Buy “Think and Grow Rich” here.

                8. You Are a Badass at Making Money

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                  As you can guess from this title, this book takes a lighthearted angle to personal finance. Similar to “Think and Grow Rich,” this book also focuses on the mindset of earning and keeping money.

                  While this book lacks any sort of actionable financial advice, it’s compensated by the fact it’s inspiring. It’s an ideal book if you’re looking for a new perspective to making money and could spark conversation with friends, family, or your partner. On top of that, it’s a nice motivational booster.

                  Buy “You Are a Badass at Making Money” here.

                  9. The Millionaire Next Door

                    Another inspirational focused book that you’ll want to pick up is “The Millionaire Next Door.” Many years ago, Thomas J Stanley, Ph.D. and William D. Danko, Ph.D. did extensive research into the millionaires of America. From the various interviews they’ve conducted, they created a profile of America’s wealthiest citizens and discovered common connections amongst them all.

                    Stanley wrote it all in this book that has garnered over 1,700 five-star reviews and provides tremendous insight into what it’s like to be a millionaire. This is all explained through seven habits that all of these individuals have in common.

                    Again, there’s not so much practical advice here, but it prompts you to take a closer look at their overall lives and what you can do to change yours to be like theirs. Even if you’re not planning to be a millionaire, the lessons in there are all practical such as living below your means and rejecting traditional consumerism.

                    Buy “The Millionaire Next Door” here.

                    10. Spend Well, Live Rich

                      For those looking for a good book for budgeting and personal finance for beginners, this is a good pick. Author Michelle Singletary reflects on her life with her grandmother who raised five children on a modest salary.

                      By watching her grandmother, Singletary devised principles that her grandmother used to support that kind of lifestyle with what money she had. Through those principles, you can find inspiration in her story while learning about how to stretch the money that you already have.

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                      Buy “Spend Well, Live Rich” here.

                      11. Your Money or Your Life

                        The core of this book is financial independence and lays out a plan to reach that goal. While this book is the longest in this list, it does provide advice on pretty much every aspect of financial independence you can think of. It covers things like mindset requirements as well as investment moves that you should be making. Even if your plan isn’t to retire early, there is plenty of advice in this book you can use.

                        Buy “Your Money or Your Life” here.

                        12. Broke Millennial

                          Amongst millennials, this book on money is a favorite for its simple and relatable language. It touches on a lot of the struggles and issues that millennials are faced off with today—things like living with your parents in your 20s, dealing with student debt, and even dealing with friendships and your finances.

                          Between all of this, the book does offer plenty of practical advice and things to consider for those within this age group. It covers a broad overview of checking your credit score to even buying your first home. Even if you’re not there, chances are likely that the information mentioned in this book will be relevant for quite some time.

                          Buy “Broke Millennial” here.

                          13. Get a Financial Life

                            Another millennial-focused book is “Get a Financial Life,” which covers a lot of the basics for personal finance. This book is more direct with its advice since it covers things like doing your own taxes and paying off debt. The goal of this book is to provide a foundation for you to establish a financial life and it does so in a good and clear manner.

                            Buy “Get a Financial Life” here.

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                            Final Thoughts

                            What a lot of these books teach us about money is that success doesn’t come overnight. It’s something that takes a while to build up. But it also shows just how changing your way of thinking or taking a few small steps can mean changing your financial path for the better. There are many great books on money, and these are only the start.

                            More Books on Money and Finance

                            Featured photo credit: Jonathan Borba via unsplash.com

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                            Last Updated on January 5, 2022

                            33 Painless Ways to Save Money Now

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                            33 Painless Ways to Save Money Now

                            In a difficult economy, most of us are looking for ways to put more money in our pockets, but we don’t want to feel like misers. We don’t want to drastically alter our lifestyles either. We want it fast and we want it easy. Small savings can add up and big savings can feel like winning the lottery, just without all of the taxes.

                            Some easy ways to save money:

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                            1. Online rebate sites. Many online sites offer cash back rebates and online coupons as well. MrRebates and Ebates are two I like, but there are many others.
                            2. Sign up for customer rewards. Many of your favorite stores offer customer rewards on products you already buy. Take advantage.
                            3. Switch to compact fluorescent bulbs. The extra cost up front is worth the energy savings later on.
                            4. Turn off power strips and electronic devices when not in use.
                            5. Buy a programmable thermostat. Set it to lower the heat or raise the AC when you’re not home.
                            6. Make coffee at home. Those lattes and caramel macchiatos add up to quite a bit of dough over the year.
                            7. Switch banks. Shop around for better interest rates, lower fees and better customer perks. Don’t forget to look for free online banking and ease of depositing and withdrawing money.
                            8. Clip coupons: Saving a couple dollars here and there can start to add up. As long as you’re going to buy the products anyway, why not save money?
                            9. Pack your lunch. Bring your lunch to work with you a few days a week, rather than buy it.
                            10. Eat at home. We’re busier than ever, but cooking meals at home is healthier and much cheaper than take-out or going out. Plus, with all of the freezer and pre-made options, it’s almost as fast as drive-thru.
                            11. Have leftovers night. Save your leftovers from a few meals and have a “leftover dinner.” It’s a free meal!
                            12. Buy store brands: Many generic or store brands are actually just as good as name brands and considerably cheaper.
                            13. Ditch bottled water. Drink tap water if it’s good quality, buy a filter if it’s not. Get 
                                a reusable water bottle and refill it.
                              • Avoid vending machines: The items are usually over-priced.
                              • Take in a matinee. Afternoon movie showings are cheaper than evening times.
                              • Re-examine your cable bill. Cancel extra cable or satellite channels you don’t watch. Watch the “on demand” movie purchases too.
                              • Use online bill pay. Most banks offer free online bill paying. Save on stamps and checks, and avoid late fees by automating bill payment.
                              • Buy frequently used items in bulk. You get a lower per item price and eliminate extra trips to the store later on.
                              • Fully utilize the library. Borrowing books is much cheaper than buying them, but in addition to books, most local libraries now lend movies and games.
                              • Cancel magazine/newspaper subscriptions: Re-evaluate your subscriptions. Cancel those you don’t read and consider reading some of the other publications online.
                              • Get rid of your land-line. Do you really need a land-line anymore if everyone in the family has a cell phone? Alternatively, look into using VOIP or getting a cheaper plan.
                              • Better fuel efficiency. Check the air pressure in your tires, keep up with proper auto maintenance, and slow down. Driving even 5MPH slower will result in better fuel mileage.
                              • Increase your deductibles. Increasing the insurance deductibles on your homeowners and auto insurance policies lowers premiums significantly. Just make sure you choose a deductible that you can afford should an emergency happen.
                              • Choose lunch over dinner. If you do want to dine out occasionally, go at lunchtime rather than dinnertime. Lunch prices are usually cheaper.
                              • Buy used:  Whether it’s something small like a vintage dress or a video game or something big like a car or furniture, consider buying it used. You can often get “nearly new” for a fraction of the cost.
                              • Stick to the list. Make a list before you go shopping and don’t buy anything that’s not on the list unless it’s a once in a lifetime, killer deal.
                              • Tame the impulse. Use a self-enforced waiting period whenever you’re tempted to make an unplanned purchase. Wait for a week and see if you still want the item.
                              • Don’t be afraid to ask. Ask to have fees waived, ask for a discount, ask for a lower interest rate on your credit card.
                              • Repair rather than replace. You can find directions on how to fix almost anything on the internet. Do your homework, and then bring out your inner handyman.
                              • Trade with your neighbors. Borrow tools or equipment that you use infrequently and swap things like babysitting with your neighbors.
                              • Swap online. Use sites like PaperBack Swap to trade books, music, and movies with others online. Also, look for local community sites like Freecycle where people give away items they no longer need.
                              • Cut back on the meat. Try eating a one or two meatless meals every week or cut back on the meat portions. Meat is usually the most expensive part of the meal.
                              • Comparison shop: Get in the habit of checking prices before you buy. See if you can get a better price at another store or look online.

                              Remember that saving money is not about being cheap or stingy; it’s about putting money into your bank account rather than giving it to someone else. There are many ways to save money, some you’ve never thought of, and some that won’t appeal or apply to you. Just pick a few of the ideas that sound doable and watch the savings add up. Save big, save small, but save wherever you can.

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                              Featured photo credit: Damir Spanic via unsplash.com

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