The 10 Best Books About Finance and Money in 2024

10 best books about finance & money

In today’s rapidly-changing world, having financial literacy is more important than ever. Unfortunately, many of us were never taught essential knowledge about money, investing, and personal finance.

In school, we were too busy learning about mitochondria being the powerhouse of the cell, right? 🤷‍♂️

Take a look at these sobering statistics:

The good news? It’s never too late to begin learning and transform your financial life.

But with literally thousands of finance books 📚 published every year, which ones are worth reading? We’ve done the research for you, scanning hundreds of book reviews and dozens of reading guides to find the best finance books of all time. (Check our references at the bottom.)

We discovered there is no ONE finance book that is best for everyone, so we chose the best books in four categories. Best of all, we’ve even summarized most of these finance books on this website, so you can get smart about money faster.

Best Finance Books Of All Time

1. I Will Teach You To Be Rich by Ramit Sethi

What is the book about?

“I Will Teach You to Be Rich” by Ramit Sethi is a practical guide to personal finance for young adults. It offers straightforward advice on saving, investing, and spending wisely, emphasizing the importance of automating finances and investing in low-cost index funds. Sethi’s approach is action-oriented, aiming to demystify financial independence with clear, actionable steps tailored to long-term success.

Our favourite quote

“The single most important thing you can do to be rich is to start early.” — Ramit Sethi

Why should you read it?

After diving into “I Will Teach You to Be Rich” by Ramit Sethi, I was genuinely surprised by how much my perspective on money and personal finance changed. Sethi breaks down complex financial concepts into relatable, actionable steps that feel manageable and even exciting to implement. His approach to automating savings, investing wisely, and spending guilt-free on what truly matters has been a game-changer for me.

I recommend this book to anyone who feels overwhelmed by the idea of getting their finances in order—it’s a practical, no-nonsense guide that can really set you on the path to financial freedom. It’s like having a friend who’s really good with money, guiding you through the maze. And hey—what’s not to love about a finance book that kicks off with the sentence: “Buy as many lattes as you want”? ☕️

What are the key takeaways?

  1. 💸 Financial Automation. Nobody enjoys paying bills, so why not make automate it? Ramit explains how to automatically pay bills and invest money every month, so you don’t need to think about it anymore!
  2. 🛍️ Conscious Spending. Rather than focusing on limiting spending, make a plan for spending your hard-earned cash on things that truly make you happy. So you can live your personal ‘Rich Life’ —guilt-free!
  3. ⏰ Begin Today. It’s better to start now than waiting to learn everything, because when it comes to growing wealth through investing, the power of compound interest is almost everything.

What do the reviews say?

⭐️ 4.7 on Amazon⭐️ 4.2 on Goodreads
👍 Positive: + Specific actionable steps + Engaging fun read👎 Criticism: – For finance enthusiasts, no new information – Author’s jokes are not for everyone

2. The Psychology of Money by Morgan Housel

“There is no reason to risk what you have and need for what you don’t have and don’t need.“
—Morgan Housel

Why should you read it?

After reading "The Psychology of Money" by Morgan Housel, I've gained incredible insights into how our emotions and biases significantly shape our financial decisions, often more than we realize. It's not just about numbers and strategies; it's about understanding ourselves. Housel uses engaging stories and examples that made me rethink my relationship with money.

I recommend this book because it's not just about getting rich; it's about cultivating a healthier, more self-aware approach to managing your finances and life. It's a must-read for anyone looking to navigate the complex world of money with a clearer mind.

What are the key takeaways?

  1. ⏰ 1. Understand True Wealth: Happiness increases from having control over one's time, not showing off material things
  2. 💰 2. Compound Interest is Unbelievable: Warren Buffett's "real secret" is not investing genius, but consistency over a long time
  3. 🆘 3. Make Room for the Unexpected: Secure your financial safety with a margin of safety for errors and tough times

Reviews Summary

The Psychology of Money is rated 4.7 on Amazon and 4.4 on Goodreads.

Positive reviews say: + Deep insights + Easy to read + Well-researched

Criticism: - Somewhat repetitive themes - Not a step-by-step guide

Read Our Summary: The Psychology of Money Check Amazon: The Psychology of Money

3. The Simple Path to Wealth by JL Collins

“Stop thinking about what your money can buy. Start thinking about what your money can earn.“
—JL Collins

Why should you read it?

Having read "The Simple Path to Wealth" by JL Collins, I've been enlightened on how straightforward building wealth can be. Collins demystifies investing and makes financial independence seem achievable, even for those who feel lost in the world of finance. His emphasis on low-cost index funds and living below your means resonated with me deeply.

I recommend this book because it's more than just financial advice; it's a roadmap to a stress-free financial life. Whether you're just starting or looking to refine your financial strategy, this book is a beacon of clarity. Plus, this is Reddit’s #1 recommended personal finance book today. You can’t argue with the internet, right? 👽

What are the key takeaways?

  1. 🤸‍♂️ 1. Get F-You Money: Achieve freedom by saving enough to cover several months of expenses
  2. 💳 2. Pay Off Debt Quickly: Carrying a lot of debt is the biggest obstacle to wealth
  3. 📊 3. Invest in Stock Index Funds: The safer way to grow wealth is by investing in ALL the stocks in the market

Reviews Summary

The Simple Path to Wealth is rated 4.7 on Amazon and 4.5 on Goodreads.

Positive reviews say: + Clear and concise + Practical financial strategies

Criticism: - U.S.-centric directions - Too simplistic for some

Read Our Summary: The Simple Path to Wealth Check Amazon: The Simple Path to Wealth

Best Finance Books For Beginners

4. The Total Money Makeover by Dave Ramsey

“If you will live like no one else, later you can live like no one else.“
—Dave Ramsey

Why should you read it?

After reading Dave Ramsey's book, I was inspired to take control of my finances like never before. Ramsey's straightforward, no-excuses approach to managing money, coupled with his practical Baby Steps, can turn what may feel like overwhelming battle against debt into a clear, achievable path to financial freedom. This book helped me to not only reconsider my spending habits but also to make real, impactful changes in my financial life.

If you're feeling stuck in a cycle of debt and financial stress, I highly recommend giving this book a read. There’s nothing complicated about Dave Ramsey's advice, folks! He just provides us with a common sense financial plan that works—if we’re willing to work the plan! 💪

What are the key takeaways?

  1. 💰 1. Build a Mini Emergency Fund First: Start your financial journey by saving $1,000, creating an initial safety net
  2. ❄️ 2. Tackle Debt with the Snowball Method: Begin paying off your debts in order from smallest to largest, to build momentum and motivation
  3. 🏦 4. Set Aside 15% For Retirement: Dave Ramsey's personal strategy is to invest 15% of income, ensuring a comfortable retirement

Reviews Summary

The Total Money Makeover is rated 4.7 on Amazon and 4.2 on Goodreads.

Positive reviews say: + Practical steps + Motivational + Step-by-step plan

Criticism: - One-size-fits-all - Aggressive debt approach - Religious overtones

Read Our Summary: The Total Money Makeover Check Amazon: The Total Money Makeover

5. Your Money or Your Life by Joe Dominguez and Vicki Robin

“Money is something we choose to trade our life energy for. (...) Life energy is all we have. It is precious because it is limited and irretrievable and because our choices about how we use it express the meaning and purpose of our time on Earth.“
—Joe Dominguez Vicki Robin

Why should you read it?

Reading "Your Money or Your Life" completely shifted my perspective on what it means to be wealthy and happy. This book isn't just about saving money; it's about finding a deeper sense of purpose and fulfillment through mindful spending and living. Vicki Robin and Joe Dominguez offer practical, thoughtful advice that challenged me to evaluate not just my finances, but how I spend my life energy. It's empowering to see money as a tool for creating a life that truly reflects my values.

I recommend this book to anyone who feels caught in the cycle of earning and spending without feeling fulfilled. These authors are like financial therapists, helping us let go of our old guilt around money, while crafting a plan to change our lives. 👩‍⚕️👨‍⚕️

What are the key takeaways?

  1. 🗝️ 1. Value Savings as the Path to Freedom: Recognize how escaping the cycle of endless debt opens the door to financial freedom
  2. ⏳ 2. Treat Money as Life Energy: Understand that money represents your precious, irreplaceable life energy - and deserves careful management
  3. 🙌 3. Let Go of Financial Regrets: Reflect on past financial decisions with "no shame, no blame" - embracing a mindset of learning and growth

Reviews Summary

Your Money or Your Life is rated 4.5 on Amazon and 4.0 on Goodreads.

Positive reviews say: + Transformative approach to money + Practical tools for financial planning

Criticism: - Repetitive content - Requires major lifestyle changes

Read Our Summary: Your Money or Your Life Check Amazon: Your Money or Your Life

6. The Millionaire Next Door by Thomas J. Stanley and William D. Danko

“Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.“
—Thomas J. Stanley William D. Danko

Why should you read it?

I recently finished reading "The Millionaire Next Door," and it completely transformed my understanding of wealth. This book peels back the curtain on the real habits and lifestyles of America's millionaires, and surprisingly, they're not what most of us would expect. It's fascinating to learn that true financial success often comes down to living frugally, saving diligently, and investing wisely—practices anyone can adopt.

If you're curious about what it really takes to build wealth over a lifetime, without the glitz and glamour often portrayed in the media, I highly recommend this read. It's eye-opening and challenges many myths about millionaires, providing practical insights into achieving financial independence. Perhaps the secret to getting wealthy might just be embracing our inner Average Joe! 🛻

What are the key takeaways?

  1. 🐷 1. Embrace Frugality: Financial planning and saving money is essential for creating your foundation for investment and future wealth
  2. 🏎️ 2. Avoid Status Traps: One of the biggest obstacles to wealth is the temptation to live a high-status lifestyle
  3. 🌱 3. Acquire Assets: Millionaires grow wealth effectively by looking beyond their income and accumulating financial assets

Reviews Summary

The Millionaire Next Door is rated 4.7 on Amazon and 4.1 on Goodreads.

Positive reviews say: + Eye-opening and unexpected truths + Data-driven research + Motivational for financial discipline

Criticism: - Old examples - Repetitive content - Overemphasis on frugality

Read Our Summary: The Millionaire Next Door Check Amazon: The Millionaire Next Door

Best Finance Books for Young Adults

7. The Richest Man in Babylon by George S. Clason

“A part of all I earn is mine to keep.“
—George S. Clason

Why should you read it?

After reading "The Richest Man in Babylon," the principle of "paying yourself first" truly resonated with me. This idea of automatically saving a portion of your income before anything else has shifted the way I manage my finances. It’s a small change that can make a huge difference in your financial journey. The stories, set in ancient times, brilliantly illustrate how such a simple habit can lead to lasting wealth and financial independence.

The book’s advice is straightforward but powerful, teaching not just to save, but to actively invest in our future selves. It's inspiring to see how applicable these ancient principles are today, and I can't recommend this book enough to anyone looking to improve their financial health. It's kind of like hearing life lessons from a wise and wealthy grandfather, but with more camels. 🐪

What are the key takeaways?

  1. 🏦 1. Pay Yourself First: Start by saving 10% of your earnings for your future self, before paying anyone else
  2. ✂️ 2. Lower Your Expenses: Living within our means is about drawing the line between our needs and desires
  3. 📈 3. Let Money Work For You: To become wealthy, our savings must be transformed into passive income sources through investing

Reviews Summary

The Richest Man in Babylon is rated 4.7 on Amazon and 4.3 on Goodreads.

Positive reviews say: + Timeless principles + Simple rules + Engaging story format

Criticism: - Too simplistic for some readers - Repetitive writing

Read Our Summary: The Richest Man in Babylon Check Amazon: The Richest Man in Babylon

8. Rich Dad Poor Dad by Robert Kiyosaki

“The poor and the middle class work for money. The rich have money work for them.“
—Robert Kiyosaki

Why should you read it?

After reading "Rich Dad Poor Dad," I realized how important it is to think differently about money. The book shows you that earning money isn't just about a 9-to-5 job; it's also about finding smart ways to make your money grow. Kiyosaki's stories about his two dads really help to illustrate financial ideas through a visual story.

Now, I know some people think the author is more of a salesman or even call him a fraud because of how he presents his ideas. But on the flip side, a lot of readers feel really fired up after reading the book. It's easy to understand and makes you see money in a whole new way, pushing you to take action towards financial freedom. 💸

What are the key takeaways?

  1. 🏦 1. Understand Assets vs Liabilities: 'The Rich' buy assets that generate income, while 'The Poor' buy liabilities that cost them money (like a house and cars)
  2. 🧠 2. Master Your Psychology: We all have inner obstacles to wealth like fear, arrogance and laziness
  3. ⚖️ 3. Maximize Tax Advantages: Having a corporation can offer you many benefits including tax savings

Reviews Summary

Rich Dad Poor Dad is rated 4.7 on Amazon and 4.1 on Goodreads.

Positive reviews say: + Thought-provoking + Inspires entrepreneurship + Simple to understand

Criticism: - Oversimplified concepts - Undermines education and careers

Read Our Summary: Rich Dad Poor Dad Check Amazon: Rich Dad Poor Dad

Best Finance Books for Investing

9. A Random Walk Down Wall Street by Burton Malkiel

What is the book about?

“A Random Walk Down Wall Street” by Burton G. Malkiel is a guide to investing that argues against the idea that stock market success is the result of expert stock picking or market timing. He promotes long-term investment strategies, particularly index fund investing, as the most effective approach to building wealth.

Our favourite quote

“Never buy anything from someone who is out of breath.” — John Bogle

Why should you read it?

After reading “A Random Walk Down Wall Street,” I felt reassured about many of the investment principles I already believed in, but with a much stronger foundation. Burton G. Malkiel’s deep dive into the “random walk” theory—that stock market movements are unpredictable and that attempting to outguess the market is futile—really hit home for me.

For anyone who’s ever suspected that there might not be much skill in short-term stock picking, this book offers powerful affirmation, backed by thorough research and analysis. The book reinforces the idea that focusing on long-term investing, especially through index funds, is not just sensible but essential. 📈

What are the key takeaways?

  1. 🎲 Random Walk Theory: The book introduces and extensively discusses the random walk theory, which posits that stock market prices move unpredictably and that it’s impossible to consistently outperform the market by predicting future movements. This challenges the conventional wisdom of active trading and market timing.
  2. 🔍 Efficient Market Hypothesis (EMH): Malkiel explains the efficient market hypothesis, suggesting that all available information is already reflected in stock prices, making it futile for investors to seek undervalued stocks or predict trends for financial gain.
  3. 💵 Value of Index Funds: A significant recommendation from Malkiel is the investment in index funds, which mirror the performance of a market index. This approach is favored for its low costs and the diversification it offers, aligning with his advice for long-term investment strategies over speculative trading.

What do the reviews say?

⭐️ 4.7 on Amazon⭐️ 4.1 on Goodreads
👍 Positive: + Accessible to beginners + Comprehensive coverage of investment topics + Evidence-based arguments👎 Criticism: – May feel dated – Not all agree experts agree with his criticisms of active management

10. The Little Book of Common Sense Investing by John Bogle

What is the book about?

“The Little Book of Common Sense Investing” by John C. Bogle focuses on the power of investing in low-cost index funds for long-term financial success. Bogle, the founder of Vanguard Group, advocates for a simple, straightforward investing approach. He emphasizes that the key to building wealth is to focus on low costs, broad diversification, and a long-term perspective, dismissing the need for complicated strategies or frequent trading.

Our favourite quote

“The expectations market is about speculation. The real market is about investing. The stock market, then, is a giant distraction to the business of investing.” — John Bogle

Why should you read it?

John Bogle is like the cool grandpa 👴🏻 of the investing world, who’s inspired tons of other popular finance authors to copy his approach. Bogle’s main point—that investing in low-cost index funds is one of the best ways to achieve financial growth—really resonated with me. He lays out the case so plainly and convincingly, backing up his arguments with solid data and logic.

It’s refreshing to see how a straightforward strategy can be so powerful, without the need for constantly buying and selling stocks. Bogle points out something that now seems obvious: that the financial industry is more interested in lining their own pockets than ours. I mean—who would’ve guessed, right? 🤑

What are the key takeaways?

  1. 🌐 Low-Cost Index Funds: Simplify your investing through buying index funds, which are like a collection of all the stocks in the market. This approach minimizes fees, promotes diversification, and provides greater average returns than actively managed funds.
  2. 🕵️ Beware of Fees: Larger costs and fees are a major downside of buying individual stocks or actively managed mutual funds. These include management fees, buying/selling fees, and greater capital gains taxes.
  3. 🙉 Ignore Market Noise: Instead of buying and selling based on current news or trends, simply buy and hold. By investing for the long-term, and maintaining patience and discipline, you’ll benefit from greater compounding returns.

What do the reviews say?

⭐️ 4.7 on Amazon⭐️ 4.2 on Goodreads
👍 Positive: + Clear and simple to read + Focus on long-term strategy and reducing costs👎 Criticism: – Can be repetitive – Limited perspective on other investment strategies
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  7. Reddit r/PersonalFinance Reading List Wiki
  8. Reddit r/PersonalFinance Book Recommendations Post (6K upvotes)
  9. Additional Reddit Discussions: One, Two, Three, Four, Five, Six, Seven
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