10 Financially Sound Books on How to Manage Money + Best All Time List
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Learning how to manage money effectively is one of the best gifts you can give yourself.
It will help you live the life of your dreams.
The honest question to ask is are you willing to read a non-fiction book on a topic you don’t enjoy very much. Most likely, not.
But, I have complied the best books on how to manage money.
These books are simple to read and easy to implement.
That is exactly what you want when you are beginning to manage money more effectively.
One clear millionaire habit is to be an avid learner. That is exactly what rich people do. They don’t put off their finances; they make them a priority.
These are my personal favorites.
Books on How to Manage Money
There are many perspectives on how to manage money. And honestly, there isn't one opinion that dominates from another.
That is why investing in yourself to read some of the best books on how to manage money is key to long-term financial success!
While many of the concepts may be similar, there is ALWAYS something unique I learn after reading each book.
This book covers every aspect of money from debt, saving accounts, automating finances, set-it-and-forget it investment strategy, how to handle big purchases (car, house, wedding, kids) plus how to negotiate a raise at work.
These are the basic principles on how to manage money that needs to be taught in school. Call this book your beginner's guide on managing your finances and setting yourself up for long term success!
Take control of your financial situation. By becoming active, you don't have to continue to hold for a magically change.
Make sure you get the 2nd edition that was revised in 2019.
Key Takeaways - Ramit Sethi, the author, provides you word-for-word scripts that will save you thousands of dollars on loan interest and lowering all of your expenses. That alone is worth the $9.
This is what we all dream of... be set for life. Not to have to worry about the next paycheck coming in. Running out of money each month. You want money in the bank and the freedom to do what you want to do.
Become set on escaping the 9-to-5 grind and lay a solid foundation with money. According to the author, Scott Trench, you must be willing to work harder and smarter than the average person.
Find the motivation to conquer your financial goals early on.
Key Takeaway - Be prepared to start saving 50% of your income while still enjoying life's luxuries at a younger age.
This recent release is about how you behave with money. The decisions that are made on the go and not when looking at a spreadsheet.
The book is filled with 19 short stories on how emotions play such a big part with how we handle money. Everyone handles money and investing differently and that is okay, but learning how to know what works for you.
Key Takeaway - This book is meant to be thought provoking on why we do silly things with money.
One of the best ways to build income is to become your own boss whether, through a side hustle, real estate investing, or building a business. However, too many times expenses swallow business before they ever churn a profit back to the owner.
Mike Michalowicz will lays out the Profit First Formula, which will transform any business on the way they manage money.
This is a must-read for anyone owning their own business, a board member for a corporation, or looking to start their own business. This is how you build a sustainable, no-ceiling income.
Key Takeaway - You will finally know how much you have to invest in your business and always take home a profit.
The original edition was first published in 1926. Yet, the parables were set 4000 years prior in ancient Babylon.
This classic book is based on saving 10%, limiting expenses, multiple and keep what you have, and continue to increase your income. While these principles are simple enough, these book elaborates with short stories of Arkad, the poor scribe who went on to become the richest man in Babylon.
Obviously, this book has writing and language that is different than what we see today, but the same principles hold true over the hundreds of years.
Key Takeaway - The lessons are powerful with the short stories on living within your means and the wealth that is built.
This book was written by Napoleon Hill in the 1930s. Even ninety years later, his same thirteen principles ring true.
Right now, there is another fad of science trending on how by suppressing negative thoughts and focus on the positive, you can finally find lasting success. However, in Think and Grow Rich, he revealed the secrets you must master to bring you a fortune.
Key Takeaway - You must determine exactly what you intend to do and create a clear and definite plan.
If you want to become a millionaire next door, then you must read this book from the 1990s. The author interviewed hundreds of millionaires to see if there was a repeatable pattern or system that each of them followed.
Thomas Stanley found seven identifiable qualities that you must live out on a daily basis.
Being a millionaire doesn't mean flashy cars and vacations. It means money in the bank that you can live off and live the life of your dreams. Pick up this book and memorize the seven habits of millionaires.
Key Takeaway - If you want to be wealthy, do what wealthy people do!
Do you have a bad attitude about money? This book by Vicki Robin from 1992 will change your perspective on money with her nine-step program.
This classic book is different because it makes you think and be more deliberate on how you spend your money. The trap of lifestyle creep and consumerism is a hole that many people fall victim to without realizing it. The questions in the book will help you to address any spending and mindset issues.
Key Takeaway - The core of the book is inspiring. But, do not use the investment advice offered in step 9 and use the investing book above for guidance.