Today I’ll cover what I have found to be the 10 best books on personal finance. Covering saving, investing, real-estate, shares, index funds, money psychology, habits of the wealthy, entrepreneurship, saving, cryptocurrencies and Australian-centric finance, there is something here for everyone.
This book is a fantastic starting point for anyone beginning their journey to wealth building. Breaking down common myths about millionaires, the authors highlight common traits of the wealthy and they are surprising.
By revealing how average people can amass fortunes, Thomas Stanley and William Danko discuss tried and tested techniques to grow wealth. The best part, is that these are surprisingly simple things that anyone including me or you can do. As such, I highly recommend this book for anyone with an interested in becoming financially independent. It’s also useful for understanding how middle-class people can become wealthy.
For those reasons, I view this as the best book on personal finance in my opinion.
Written in 1926, this timeless personal finance classic still applies more than ever. Using simple, Babylonian parables, George Clason demonstrates ancient principles of wealth accumulation. These parables make this the best book on personal finance for those who learn through stories.
Mr Clason explores timeless concepts such as thriftiness, financial planning and wealth building. Demonstrating age-old methods for reaching financial independence that have withstood the test of time. I highly recommend this book for people just starting off on their personal finance journeys for these reasons.
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At the end of the day, money can influence us to act in different ways. The Psychology of Money covers the strange ways that people think about money. It also teaches us how can we make sense of money.
By providing 19 short stories surrounding the way people perceive money, this book is an excellent way to explore the role that money plays on the human psyche. This clear-cut and entertaining read is a must have for anyone interested in the psychology of money and the role is plays regarding human behaviour.
For people fascinated by the idea of reaching financial independence and retiring early (FIRE), this book is a must-read. Set for Life lays out the blue-print for reaching financial independence. It covers the essentials such as how to reduce your spending, increase your salary and how to invest in appreciating assets.
Aimed primarily at people under the age of 30, this book provides a laconic break down of everything need to reach FIRE. For those reasons, it is a great read for people wanting to pursue financial independence.
While Set for Life is tailored to a younger demographic, The Barefoot Investor provides a more defensive investing style suited for older investors. This book is great for people just starting out and people with a low risk-aversion.
The Barefoot Investor covers a lot of Australian-specific investment strategies. As well as explaining the basics of personal finance. As such, Aussies who are looking for a starting point need look no further.
Let’s be real, every man and his dog in Australia will tell you that investing in real estate is the way to go. However, while it is easy to suggest this, many people fail while pursuing the ‘Australian Dream’. Why you may ask? Because they don’t understand many of the basics of real estate investing.
This clear-cut guide explains everything that you need to know about real estate investing. It covers things like how to effectively use leverage and how to find the best deals. In addition to how to increase returns and how to manage your properties directly.
For anyone interested in gaining a more comprehensive view of real estate investing or people looking to enhance upon their current properties, this is a must-read. Easily the best real estate investing book on personal finance.
A timeless investing classic written by the greatest investment advisor of the 20th century. While few can beat the market, Benjamin Graham and his protégé the infamous investor Warren Buffet have managed to do so consistently for years.
Covering all the fundamentals of investing in the stock market, this is a must have for anyone considering this investment style. The author highlights how hard it is to beat the market and the principles behind sound investing. Making it a must-read for anyone with an interest in equities, shares, ETFs, LICs and the stock market as a whole.
Real estate investing and share investing have always been popular in Australia, but what if there was a simpler path to wealth? J.L. Collins breaks down how investing in a simple, low-cost index fund can help you reach financial independence.
Covering the basics of saving and investing, this is a simple yet powerful guide on how to build wealth. As such, this will always be one of the best books on personal finance. For those seeking to learn more about the stock market, while also keeping their investment strategy as straight-forward as possible, this book is essential.
We’ve covered real estate and the stock market but what about Bitcoin and other cryptocurrencies? Due to being a new technology, cryptocurrencies are often feared by investors due to a lack of understanding surrounding them. However, it is becoming more and more apparent that these currencies may be here to stay.
The Bitcoin Standard is the most concise and easy to comprehend book about Bitcoin. Explaining the concept of money and its history, the author makes a compelling case for why cryptocurrencies may very well be the next evolution of money. As such, for people who want a more thorough understanding of Bitcoin, cryptocurrencies and money as a whole, I highly recommend this book.
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While 50 Cent may not be the first person who comes to your mind when you think of entrepreneurship, he is an expert. Having made it from the rough streets of Jamaica-Queens as a teenage drug dealer to a multi-platinum recording artist to a high-ranking cable executive; Curtis Jackson has proved that anyone can achieve success in the world of business.
Breaking down his journey step by step, this book highlights the mentality behind success in the business world. This underdog story makes Hustle Harder my favourite book for aspiring entrepreneurs. It’s also what gives it its place in the best books on personal finance.
All of the above books have been monumental in helping me develop a more comprehensive overview of personal finance. For that reason, they are the best books on personal finance in my opinion. As such, I recommend everyone read these books to gain an overview of wealth and financial independence. While you may not initially be interested in a specific subject or investing style, you may find later down the line that you gravitate towards such a style.
Do you have a favourite book that isn’t on the list? Feel free to share it below, I’d love to hear about it!
Before checking out the 10 best books on personal finance, you mind find these beginner guides to personal finance useful:
If you would like to learn more about the investment options covered and some ones that weren’t mentioned, I have created the following guides: