19 May, 2023

10 Superb Books On Financial Literacy - Must Read

10 Superb Books On Financial Literacy - Must Read
Written by: - Phil Baker

Our financial literacy determines the quality of our lives.

Yet, it’s a somewhat overlooked topic during high school.

The remedy is to select a book or two to teach you what you need to know, so that you’re never left living paycheck to paycheck.

And with the right book to guide you, you can even earn financial freedom and independence.

The purpose of this article is to introduce you to some of the best books on financial literacy out there. Including some well established classics and a few up-and-coming newer ones.

And without further ado, let’s get straight to it!

(These books aren’t presented in any particular order.)

Also read: How Is Net Worth Calculated?


  1. The Index Card: Why Personal Finance Doesn't Have to Be Complicated By Helaine Olen And Harold Pollack

The idea behind this book is that everything you need to know about managing your money can fit on a standard size index card.

They managed to summarize all the financial strategies you need down to just 10 rules. But don’t worry, they expand on them in the book, which is 256 pages long. 

It’s an action plan that will work for you through both good times and bad.

Also read: Calculate Net Income


  1. Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! By Robert T. Kiyosaki

This book is a true personal finance classic, and despite being published more than 25 years ago, it still ranks as the Number 1 Personal Finance book of all time.

The timeless wisdom in this book depicts how one rich dad and poor dad can shape your thoughts around money and investing.

What’s more, it explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.

Also read: Pay Off Credit Card Debt


  1. The Millionaire Next Door: The Surprising Secrets of America's Wealthy By Thomas J. Stanley Ph.D. And William D. Danko Ph.D.

This book delves into the story of America’s wealthiest people, and it completely debunks the myth of just who wealthy people are in terms of their attitude toward money.

The authors found that the common denominator behind all these millionaires is that they are very frugal with their money. And it also encourages the reader in their wealth building through the power of frugal living.


  1. Personal Finance For Dummies By Eric Tyson

There’s a lot to be said for any book in the For Dummies range. Everything is aimed at those with no previous background in the topic, so it’s very easy to understand. It walks you through everything step by step.

The 2018 edition covers such things as evaluating and managing your financial fitness, setting financial goals, insurance, assessing and improving your credit score, investing, cryptocurrencies, and more.


  1. Why Didn't They Teach Me This in School?: 99 Personal Money Management Principles to Live By By Carl Siegel

This uncomplicated read is just 188 pages long. And although it features a whopping 99 valuable principles in personal money management, the various principles are divided into 8 easily digestible lessons.

It’s not too heavy on numbers, and it focuses instead on the qualitative side of money management rather than the quantitative side. It’s a quick crash course aimed at boosting your money management IQ.

Also read: Calculate Opportunity Cost 


  1. Money: Master The Game: 7 Simple Steps To Financial Freedom By Tony Robbins

This book comes from the well known celebrity and guru, Tony Robbins.

The book is based on extensive research and interviews with more than 50 of the most influential financial experts around the world, including the likes of Warren Buffett and Steve Forbes.

The book is aimed at people of every income level, and features a simple seven-step blueprint for financial freedom. For best results, I recommend listening to the audiobook.

Also read: How Can I Start Saving For A House In My 20s


  1. The Money Book For The Young, Fabulous And Broke By Suze Orman

This book is aimed at readers in their twenties and thirties who have graduated from college with a mountain of student loan debt and are subjected to one of the weakest job markets in recent history. Not to mention the difficulty of getting a leg up on the property ladder, when they’re likely drowning in credit card and store card debt, as well having to buy other big purchases such as weddings and furniture.


  1. The Financial Diet: A Total Beginner's Guide to Getting Good with Money By Chelsea Fagan And Lauren Ver Hage

This book encourages the reader to think of their personal finances as a diet, in that it encourages them to restrict their spending, so that they have more money.

It teaches people to address their financial habits, how to get by on an entry-level salary, how you can invest your money, and the best way to make a budget and how to stick with it as well.


  1. The Total Money Makeover: A Proven Plan for Financial Fitness By Dave Ramsey

This is the perfect personal finance pack for anyone who is really struggling with their money, providing handy tutorials on getting out of debt, and avoiding the traps that cost more money than they’re worth.

It helps the reader to turn their thinking on their head, and to ignore peer pressure consumerism and focus on building wealth instead.


  1. Happy Sexy Millionaire: Unexpected Truths about Fulfillment, Love, And Success By Steven Bartlett

Steven Bartlett is the Founder and CEO of Social Chain, an integrated social media company designed to build and scale social media brands.

He became a multi-millionaire by the age of 25, despite being a university drop-out, and coming from a bankrupt family. His story is inspiring, and in the book he busts the myths associated with success and incentives.


Wrap Up

So as you can see, there are some great options there to choose from. And the best thing is that you don’t have to choose just one book. They all have something to teach you. Each of these books are well worth their purchase cost.

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