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Must-Read Books to Help Your Budget and Save Money
There are thousands of personal finance books on the market today so finding one that will give you solid advice is important. If you’re on the hunt for the best books on budgeting and saving money, look no further.
I narrowed down the long list to my favorite 7 books on budgeting and saving money. These titles will empower you with practical advice, innovative strategies, and invaluable insights to help you save, invest, and achieve your financial goals with confidence.
1. Total Money Makeover by Dave Ramsey
In The Total Money Makeover, Dave Ramsey explains his 7 Baby Steps to Financial Peace. He shares how he learned how to handle money the hard way (going bankrupt) and how he climbed out of debt and built wealth. These steps can help anyone, get on a budget, pay off debt and build wealth.
His Baby Steps are the same steps we have been following since 2012 when we took his class, Financial Peace University. Using the baby steps has helped us pay off debt and they are the same steps I teach my clients.
“If you live like no one else, later you can live and give like no one else.”
Dave Ramsey
2. Know Yourself Know Your Money by Rachel Cruz
Have you ever wondered why you handle money the way you do? If so, you will want to read Know Yourself Know Your Money: Discover Why You Handle Money the Way You Do and What to Do About It by Rachel Cruze. Rachel dives into what she calls the 7 Money Tendencies and the 4 Money Classrooms.
The 7 Money Tendencies are the natural wiring for how you view and handle money. The 4 Money Classrooms explain how your childhood environment shaped your money mindset.
Since Rachel is Dave Ramsey’s daughter, she ties everything together on how you can be successful with money using the 7 Baby Steps, no matter what your tendencies are.
“The more you understand yourself, the better you’ll be at talking about handling your money.”
Rachel Cruze
3. Baby Steps Millionaires by Dave Ramsey
Baby Steps Millionaires is Dave Ramsey’s newest book (2022) on “how ordinary people build extraordinary wealth – and how you can too.” This book is sort of like a 30 year sequel to The Total Money Makeover. He uses testimonies from people that have put his 7 baby steps to the test and built over a million dollars in net worth.
I love the examples he shares because the stories told are from people who have ordinary jobs, like school teachers and engineers. These folks have gotten out of debt and build wealth without the help of large inheritances. If you don’t think building wealth is possible for you then you must read this book! It will encourage you and get you on the right path to becoming and “Everyday Millionaire.”
“You can build wealth and become a millionaire – no matter what the culture says, what your barriers are, or what your starting point is.”
Dave Ramsey
4. The Latte Factor by David Bach
The Latte Factor: Why You Don’t Have to Be Rich to Live Rich is a parable about a young girl who learns the “3 Secrets to Financial Freedom”. In the story, Zoey meets a gentleman who is a barista in her favorite coffee shop. He shares the 3 secrets with her and she learns how to break the paycheck-to-paycheck lifestyle. This book is a great example on how small changes in money habits can turn your personal finances around.
“The solution to your money problems isn’t more money, it’s new habits.”
David Bach
5. You Are a Badass at Making Money by Jen Sincero
If you need a good loving kick in the pants about money mindset then You Are a Badass at Making Money is for you. Jen shares how she was struggling to make ends meet and how her shift in mindset turned things around for her. Each chapter ends with a Money Mantra that you can write down. She also includes reflection questions to help you dig deeper into why you view money the way you do.
“When you don’t investigate what’s going on with your words, thoughts and beliefs, you risk stumbling through life on autopilot.”
Jen Sincero
6. Thou Shall Prosper: Ten Commandments for Making Money by Rabbi Daniel Lapin
I am still working through this one because it is a longer read but it is full of wisdom around money. Rabbi Daniel Lapin shares his ten “commandments” about money and business. He also debunks some money myths that our culture has led us to believe. This is a great book for anyone in business that may have some guilt around making money.
One of my favorite chapters is the “First Commandment” – Believe in the Dignity and Morality of Business. Lapin touches on how our culture has negatively portrayed businesses and people earning money. He explains how wanting and earning money is not morally wrong. He also shares how making money can be used for doing good!
“Making money is much harder if, deep down, you suspect it to be a morally reprehensible activity.”
Rabbi Daniel Lapin
7. Rich Dad, Poor Dad by Robert T. Kiyosaki
Robert Kiyosaki shares life lessons he learned about money from his two “dads.” One is his real dad and the other is a friend’s dad and mentor. Each dad had different educational backgrounds, careers and mindsets about money. Through their viewpoints, Robert shares the different mindsets the rich and the poor have. Kiyosaki explains the difference between assets and liabilities and how to make your money work for you.
“The main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money…but never learn to have money work for them.”
Robert T. Kiyosaki
Personal Finance Books for Everyone
Continuing to educate yourself on personal finance is one key factor to increasing your overall financial wellness, that is why I included reading a personal finance book in my Financial Wellness Checklist. Personal finance is not complicated. Any of these 7 books are a great start to expanding your financial knowledge. So check your local library or order your next book here (full list with some extras).
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