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Books and Literature

7 Personal Finance Books That Are Actually Pretty Good

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Personal finance is a topic that many millennials are scrambling to learn more information about. Finances are rarely discussed in homes between parents and children. Schools also shy away from teaching personal finance as a part of the curriculum. This leaves us with minimal knowledge of Personal Finance upon graduating college. This is a vicious cycle passed from generation to generation. 

Personal Finance

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In order to break the cycle, we have to start by educating ourselves. Anything that I have learned about personal finance I have had to learn on my own. I have taken online courses and read numerous books to make sense of managing money.  The books highlighted below have helped me take control of my own finances. They teach innovative ways to manage money and eventually break the taboo personal finance cycle. 

1. The Total Money Makeover

I will never stop recommending The Total Money Makeover by Dave Ramsey. This personal finance book came out about eight years ago, but the information is still relevant. I like to think of this book as the no-nonsense guide to digging your way out of debt. The book is very straightforward and focuses strictly on getting out of debt and what to do when you’re debt free. He explains the dangers of credit cards, debt consolidation, and even timeshares. This is a great read for someone looking to become debt free and take control of their finances.

2. You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life

You Only Live Once is a great book that talks about how to prioritize spending as well as save efficiently. It makes you answer the hard questions and think about where you see yourself financially in the future. This book helps you get down to the root of the decisions that you have made with money and re-evaluate your habits and behaviors. I love this book because it acknowledges that there never seems to be enough money and talks about how to determine where your money is going and why. If you are looking to make your budget match your lifestyle, this is the book for you!

3. Dear Debt: A Story About Breaking Up with Debt

Dear Debt was written by an incredible woman that has paid off eighty thousand dollars worth of student loan debt! That is pretty impressive and it is also what made me want to read the book. It is about navigating the process of repaying debt and increasing your current income. This book is for anyone that wants to create a plan for life after debt. You will learn valuable lessons about debt fatigue and avoiding your spending temptations.

4. Hustle Away Debt: Eliminate Your Debt by Making More Money

Hustle Away Debt is a book geared towards millennials that are drowning in debt. This book focuses on student loans as well as other forms of debt. While reading this book, you will learn the art of the side hustle. It talks about using side hustles to add to your sources of income as well as developing new skills for your regular job. The book encourages you to step outside the box and look into fields that you may not have thought about. Anyone reading this book will learn how to eliminate debt, take control of your money, and save more money. This is a great read for millennials.

5. Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love

Zero Down Your Debt was released at the beginning of this year. This book is jammed packed with information about using a zero-sum budget. This means that you budget every dollar that you have because money that doesn’t have a job to do gets wasted. The book also teaches how to get out of debt. The couple that wrote the book has paid off $50,000 of debt using the method taught in the book. The interesting thing to me about this book is that they teach you to use last month’s income to pay this month’s bills. I have actually started doing this and it has made a BIG difference in my budget and my debt payoff schedule. Budget nerds like me will love this book.

6. The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich

If you need a break from the “create a budget” and “use your willpower” books, this book is a breath of fresh air. The Automatic Millionaire was released in 2004 and updated in 2016 to add updated information. This book specifically tells you that you can get rich without a budget. It teaches you a plan to pay yourself first that takes only one hour to set up. The author has included phone numbers, websites, and apps that will help you automate your finances on any income. His philosophy is “Do it once–the rest is automatic!” This book definitely has an interesting concept.

7. The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life

The Recovering Spender is written by Lauren Greutman. She is known for her Aldi meal plans and her budget planner, “The Financial Planner.” I love her personality so I knew I wanted to read her book. This book forces you to take control of your finances. It is written by someone who knows what it’s like to lose control of your finances. The book talks about facing her extreme spending habits head on and taking action to correct the issue. The biggest takeaway from this book is learning how to take inventory of your spending. This is a great book for anyone looking to curb their spending and live a debt-free life.

Personal Finance

Photo Credit: Pixabay

The books mentioned here are amazing! I have taken bits and pieces from each of them and transformed my financial situation. I’m not completely debt free but I’m closer than I was before and I have a plan. Remember when reading these books that your personal finance journey is personal. Take away the things that make sense to you and leave the things that don’t. There is no concrete way to take control of your finances, so do what makes sense to you. I hope that you enjoy these books as much as I have and good luck with your financial journey! If you have any books that should be added, leave them in the comments!

**This article contains affiliate links, and we will be compensated for any purchase made by clicking on them. Thank you for supporting Miss Millennia Magazine!**

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