5 Best Books on Money Management
“Reading is a basic tool in living a good life.” Joseph Addison, poet.
I love to read, so I have made a goal to read 24 nonfiction books this year. It has been my quest to read all of the personal finance books I can find. It’s personal.
What do you do when you want to know the most popular Personal Finance books? You Google it, of course!!
When I realized that out of the top five, two books had not been read, two I already had, and one I was currently reading, I decided to read the others and let you know what I thought of them.
Being a self-proclaimed creative cheapskate, I thought it was my duty to pass along some good, quality information anyone can access. Books are an amazing way to educate yourself.
Some of the most successful people credit their successes to reading nonfiction—and they read a lot. There is a really good article about it in the Huffington Post.
Knowledge is power.
For the UBER frugal, please visit your local library.
Top 5 Personal Finance Books
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Secrets of the Millionaire Mind by T. Harv Eker. 
This was Number 5 on Google’s list; however, I enjoyed this book. There was a really great psychology spin on this one (as I bet you guessed by the title) which makes it very different from the others.
Mr. Eker believes everyone has a financial blueprint, and the foundation of your beliefs about money determines how wealthy you will be.
He also believes that you can change your blueprint and create the life you want with the proper tools. The second part includes the Wealth Files, which are tools that bring to light the concepts about money that are holding you back and retrain your subconscious to change your money blueprint.
Mr. Eker explains that to be wealthy, you must think like a wealthy person. I give it 5 Stars out of 5!
Seven Habits of Highly Effective People by Stephen R. Covey.
Number 4 on Goggle’slist was The 7 Habits. Even though this has been a best seller for 25 years and is on Amazon’s list, I found it very difficult to read.
It did not hold my attention. I borrowed it from my friend Jeanie during the winter because I felt it was a book I needed to read.
Mr. Covey gives you 7 new habits to practice to become more intentional in your life. They are:
1: Be Proactive
2: Begin With The End In Mind
3: Put First Things First
4: Think Win-Win
5: Seek First To Understand Then Be Understood
6: Synergize
7: Sharpen The Saw
I suggest not reading this one before bed. Instead, make a pot of coffee, sit up straight in a not-so-comfy chair, and munch on chocolate candies while reading it. I give it 2 out of 5 Stars!
Rich Dad Poor Dad by Robert T. Kiyosaki
The third book on the list is Rich Dad, Poor Dad. I read this book when it first came out about 20 years ago.
After seeing it on the list, I thought it might be time to grab it again and refresh it.
This is the story about his dad and his best friend’s dad, as well as both men’s influence on his life. It is a great book to form a good foundation for Personal Finance.
Mr. Kiyosaki was very controversial in stating that a house is a liability and not an asset and said rich people don’t work for money; they work for assets.
He also discusses the three primary asset classes: Real Estate, Businesses, and Paper assets, and he argues that cash flow is more important than net worth. This is a good read. It only took me a couple of hours to read it. 4 out of 5 Stars!
The Total Money Makeover by Dave Ramsey 
Although this is number two on Google’s Top Personal Finance Books, it is by far my number one.
In this house, Mr. Ramsey is better known as Uncle Dave. I often listen to his podcast/ radio show on YouTube and could probably recite the book word for word.
It has a special place on my bookshelf, and I also give it to loved ones as a gift.
His theory of money resonates with me to the core. I can relate to it. I have the same moral and emotional attachment to it, and I am a total nerd, yet it took me years to learn that.
At first, I thought I was a free spirit. After more than halfway through the book, I realized I had more nerd tendencies than a free spirit, and I just needed to learn how to hone my skills!
This book has been an eye-opener for me and a real blessing for our family.
Mr. Ramsey teaches you the seven baby steps to financial peace:
1: $1,000 cash in a beginner emergency fund
2: Use the debt snowball to pay off all your debt, but the house
3: A fully funded emergency fund of 3 to 6 months of expense
4: Invest 15% of your household income into retirement
5: Start saving for college
6: Pay off your home early
7: Build wealth and give generously
I never want to go back into debt when I am done. 5 out of 5 Stars!!
The Barefoot Investor by Scott Pape 
Google suggests this as the number one book. I can understand why. First, it is written by an Australian gentleman, so everything said throughout the book does not necessarily apply to us in the USA. The general concept is the same.
I really enjoy the humor and the overall tone of the book. It is both serious and light-hearted. Like Uncle Dave is to cash, Mr. Pape is to the debit card.
This might work really well for those who do not do well with cold, hard cash. He gives detailed, step-by-step instructions on how to set his system up, with testimonials throughout.
Here are some of the focal points:
- Saving up a six-figure house deposit in 20 months
- Doubling your income using the ‘Trapeze Strategy’
- Saving $78,173 on your mortgage and wiping out seven years of payments
- Finding a financial advisor who won’t rip you off
- Handing your kids (or grandkids) a $140,000 cheque on their 21st birthday
- Why you don’t need $1 million to retire … with the ‘Donald Bradman Retirement Strategy.’
I enjoyed it. 5 out of 5 Stars!
Final Thoughts
When it comes to controlling your finances, the right book can make all the difference. Each of the five books mentioned offers a unique approach to money management, whether you’re just starting out or looking to fine-tune your financial habits. These authors share timeless advice that can help you save and invest wisely and shift your mindset toward long-term financial health.
What’s great about these books is that they break down complex topics into practical steps you can apply to your everyday life. From mastering your budget to paying off debt and building wealth, these books provide the tools you need to get ahead financially. And the best part? You can read them at your own pace and revisit them whenever you need a refresher.
If you’re ready to take your money management skills to the next level, pick up one of these titles and start your journey toward financial freedom. The lessons you learn could help you avoid common financial pitfalls and set you up for success, whether you are planning for retirement or simply trying to make the most of your income right now.
Have you read any of these books, or do you have another favorite that’s helped you? I’d love to hear your recommendations in the comments! Sharing our favorite resources is a great way to help each other grow and stay motivated toward financial wellness. Happy reading!
Thank you so much for your kind words