The 10 Best Books You Can Read To Take Control Of Your Financial Future
April 16, 2019
“An investment in knowledge pays the best interest” - Benjamin Graham.
Whether you’re a seasoned pro or a novice investor, financial literacy is the basis for smart money management. By adapting and evolving your relationship with your finances, you can build knowledge and master skills that can help you better manage your money, build wealth for your future, and reach your financial goals faster.
With the worrying state of financial literacy in the United States, there’s no better time to brush up on key concepts. According to Investopedia, a study by TIAA-CRFE found that people who scored highly on a basic financial literacy test were significantly more likely to save and plan for retirement; correspondingly, these individuals had an average of double the wealth compared to those who had not planned for retirement.
In honor of Financial Literacy Month, we’ve put together our top 10 book recommendations to help you take control of your financial future.
1. The Intelligent Investor by Benjamin Graham
“Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
Written by one of the most well-regarded and established investors of the 20th century, “The Intelligent Investor by Benjamin Graham” explores the fundamentals of value investing and stock strategy. Fun fact: infamous investor, Warren Buffett, considers Graham’s work to be one of the greatest influences on his investing career.
2. The Only Investment Guide You’ll Never Need by Andrew Tobias
“The simple investments are very often the best. And that goes, too, for the simple loans, the simple insurance, and the simple financial plans.”
A perfect book for novice investors, “The Only Investment Guide You’ll Ever Need” breaks down complex investing concepts by eliminating the confusing jargon and adding in witty examples. With a dedication to smart financial decision-making, Tobias offers practical advice on a wide range of financial topics, from saving to investing.
3. A Random Walk Down Wall Street: The Time-Tested Strategy For Successful Investing by Burton G. Malkiel
“The greatest of all gifts is the power to estimate things at their true worth.”
Critically-acclaimed “A Random Walk Down Wall Street” is centered around time-tested methods and research-based strategies to build an investment portfolio. Whether you’ve just opened your first investment account or you’re planning for retirement, Malkiel’s book provides a clear framework for investors of all ages and skill levels.
4. The Bogleheads Guide To Investing By Taylor Larimore, Mel Linauer, and Michael LeBoeuf
“The shortest route to the top quartile performance is to be in the bottom quartile of expenses.”
“The Bogleheads Guide to Investing” is a DIY handbook inspired by the investment wisdom of John C. Bogle. Following the investor’s journey, this is a great book to build a comprehensive strategy from end-to-end, from choosing a portfolio to avoiding common mistakes.
5. Financial Freedom: A Proven Path To All The Money You Will Ever Need by Grant Sabatier
“Money is unlimited. Time is not. Become financially independent as fast as possible.”
Known commonly as the Millennial Millionaire, Grant Sabatier discusses his personal journey from broke twenty-something to full financial independence by thirty in his book “Financial Freedom”. Offering a unique perspective on a variety of financial topics, Sabatier shares his insight and experience on a strategy for reaching financial freedom.
6. Get Money: Live the Life You Want, Not Just the Life You Can Afford by Kristin Wong
“By approaching it as a game, personal finance can not only be easy to understand, but it can also be fun!”
A gamified guide to personal finance, “Get Money” puts a fresh and interactive spin on building financial literacy. From salary negotiations to tackling debt to side hustles, personal finance expert Wong shares valuable lessons and provides a set of actionable tools to help you get a grip on your finances.
7. Broke Millennial: Stop Scraping By And Get Your Financial Life Together by Erin Lowry
“Broke Millennial is for anyone struggling and lacking the financial know-how to get ahead.”
“Broke Millennial” provides an engaging step-by-step plan on how to go from flat-broke to financial badass, designed specifically to help guide millennials navigate their financial journey.
SAVING AND BUDGETING
8. Minimalist Budget by Mary Connor
“[Minimalist budgeting] is about spending your money on things that you really love in life and eliminating all the waste and unnecessary purchases.
When it comes to budgeting, thoughts of deprivation or difficulty might come to mind. “Minimalist Budget” explores the different budgeting approaches that often fail, and proposes a new method to help broaden your perspective on smarter saving.
9. The Total Money Makeover: A Proven Plan For Financial Fitness by Dave Ramsey
“We buy things we don’t need with money we don’t have to impress people we don’t like.
NY Times best-selling author and money expert, Dave Ramsey, offer his advice on how to achieve financial fitness in “The Total Money Makeover”. Speaking from his personal experience, Ramsey aims to create an all-inclusive handbook for anyone that wants to transform their financial future.
10. Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money by Vicki Robin
"Frugality is enjoying the virtue of getting good value for every minute of your life energy and from everything you have the use of.”
A different perspective on money management, “Your Money or Your Life” investigates the mindset that often holds people back from accomplishing their personal and financial goals. Beyond budgeting, Robin teaches the power of learning how to be content living within your means by changing your money habits.
No matter what stage of the financial journey you’re on, we’re confident that building up your financial knowledge for the long-term goes a long way.