The Best Personal Finance Books

 

Name brand books offering an overview of skills needed for sound personal finance continue to dominate the field. Books like Personal Finance for Dummies and The Motley Fool Finance Workbook constitute practical guides about how to stay safe and profitable. Consider these volumes analogous to a 101 entry level course at school.

 

Saving, credit scores, debt hazards, major purchases, and investing are all covered in these books. Although a deeper look at these topics is beyond their scope, the authors deserve credit for piecing together a road map for total newcomers to personal finance. With these general guides, you'll walk away with a summary of your options for making money, keeping it, and setting up a sustainable budget.

 

 

Those holding prior knowledge of finance or major obstacles to overcome should look beyond the general self-help books. Finding information by trustworthy gurus isn't easy, but several works clearly stand out for their honesty and clear cut message. An old classic that contains modern relevance is The Richest Man in Babylon, which features timeless advice from nearly a century ago.

 

The Total Money Makeover by Dave Ramsey is an increasingly popular guide to tackling debt woes, turbo-charging retirement savings, and developing good spending habits. People who are already on a stable financial course, or are determined to get there, should read The Millionaire Next Door by Thomas Stanley and William Danko. This book examines millionaire lifestyles in an effort at understanding their success, and how it can be duplicated.

 

Building a small personal finance library is one step to building wealth. Although making wise decisions will always rank first, absorbing the wisdom to craft them is a close second.