One of the best ways to expand your knowledge about personal finance and apply practical ideas and tips to your situation is to read a good book on the subject. There are a number of top personal finance books I’ve come across and read in my desire to learn more on the subject. I’ve captured a short review on each of my favorite personal finance books I recommend adding to your library.
Recommended Personal Finance Books
The Total Money Makeover: A Proven Plan for Financial Fitness
The Total Money Makeover, by Dave Ramsey shows you how to get out of debt and follow a plan for your money and financial goals, using Dave’s Baby Steps. It’s a straight-forward, easy to follow guide to making over your money habits. By the time you’re finished reading this book you’ll want to pay off your debt as fast as you can and move onto other important financial goals such as saving for emergencies and one day building wealth. The book ends with an entire chapter devoted to real total money makeover stories which help you see that you can do it too! This book, more than any, inspired me to be smart about managing my money.
How to Debt-Proof Your Marriage
Mary Hunt has an inspiring story about money mismanagement that is familiar to all of us at one point or another in our lives. Mary gives people hope in turning their lives around and teaches us how to control and manage money versus letting money manage us. The book is divided into 3 sections, Get Your Relationship Ready for Financial Harmony, How to Debt-Proof Your Marriage and Unique Solutions for Common Dilemmas. Mary provides some aha moments when talking about getting your relationship ready especially when it comes to talking about money. How about having a non emotional discussion about money with your spouse? Mary also provides practical tips such as setting up a freedom account. This is one of the best reads on marriage and money I’ve come across.
Smart Couples Finish Rich: 9 Steps to Creating a Rich Future for You and Your Partner
Dave Bach provides a lot of helpful financial information from setting your goals based on life values to organizing a financial file system. This book helped me organize a lot of financial paperwork as well as has became a resource I often refer to when I want to know more about retirement planning or the various types of insurance. On of my favorite chapters is when Dave Bach discusses his approach to financial planning which starts with identifying the true purpose of money in your life. If you know your life values first (what’s most important to you) then you can identify what purpose money will be for you.
If you want to learn more about what the Bible has to say about money, this is the book for you. Your Money Counts, by Howard Dayton is required reading for the Crown Financial Ministries Small Group Study offered in many churches. From learning about God’s part in our finances to teaching your children the ABC’s of money, this book is a great resource to understand a Biblical view on money which I believe is the foundation for managing it well. Most importantly in this book, you’ll learn how managing money wisely can impact your relationship with God.
Free and Clear: God’s Roadmap to Debt-Free Living
Howard Dayton focuses on the crippling of debt in our society today. This book covers just about every topic you can imagine related to debt. Common topics many in society are facing today are all covered from a Biblical perspective including dealing with creditors, the auto debt trap and bankruptcy. This is a must read if you’re struggling with debt or just want to learn more about God’s view on it.
Your Money Map: A Proven 7-Step Guide to True Financial Freedom
In The Money Map, Howard Dayton presents a step by step guide to financial freedom through seven money destinations. No matter where you are on your journey this book is a great resource. One of the challenges many have faced, including me, is trying to figure out the order in which you should tackle common financial goals of saving, investing and paying off debt. It’s sometimes overwhelming. From a Biblical perspective, this book solves that problem.
Tom J. Stanley and William D. Danko provide an eye opening book full of statistics that identify who the millionaires really are in America, what they do, what they drive, etc. Did you know the number one vehicle driven by the American millionaire is an F150 pick up truck? This book is a good resource to understand and adopt the frugal habits and money management techniques of those who have been successful in building wealth in America. Note: You can get a lot out of the conclusions drawn from the statistics. Don’t let the numbers intimidate your or turn you away from reading the book.
Larry Burkett, the late co founder of Crown Financial Ministries talks about debt in our society through the real-life experiences of several couples experiencing financial pain through their respective debts. It’s an inspiring book of how lives are changed as the couples climb out of debt. I think it’s easy to learn practical tips and as well as understand financial challenges and debt aren’t uncommon when you read about the stories of others. This book was actually one of the first personal finance books I picked up that motivated me to make some changes with how I was managing money.
As I come across other books, I’ll be sure and add them to the list. If you have any you would like to mention, please let me and other readers know in the comments.
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