We've gone through dozens of personal finance books to narrow it down to a handful that we think you should try! The key to financial wellness is discovering and implementing budget and savings habits that work for YOU, and these books are a good first step to figuring that out.
The Total Money Makeover by Dave Ramsey
This book isn’t full of fluffy, wishful ideas about how to improve your finances; it has solid, actionable information that can help anyone turn it around. It talks about everything from paying off your debt sooner to building a good savings, and there is even a workbook you can buy to help you put everything into action!
“This book is a must read for anyone that wants to reduce their financial stress. This should be required reading for every high school senior.” (David Rautiola, CEO/President at MTEFCU)
All the Money in the World by Laura Vanderkam
In this book, the author helps you look at your finances differently and analyze what really makes you happy and how to capitalize on that.
“I really enjoyed it because it gives perspective on ways to spend money.” (Eric Coon, Mortgage Loan Officer at MTEFCU)
Why Didn’t They Teach Me This in School? by Cary Siegel
This book teaches little tips about handling finances that most don’t learn (but should have) in school. This is a light, helpful read that doesn’t get too wordy or pretentious, but it is still chock full with 99 helpful concepts, so it’s perfect for a high school or college student who wants to fill in the gaps on how to be fiscally responsible.
Rich Dad Poor Dad by Robert Kiyosaki
This is a memoir by a man who recalls his “poor dad” (his own father) and his “rich dad” (the father of his best friend) and analyzes how both of his “dads” had different approaches to finance. Rather than telling you to drastically cut down your discretionary spending, this book teaches you to utilize the income you have and even learn how to tap into start a business that could be additional income for you.
“My grandmother had me read this book when I was in high school, and it's stuck with me ever since.” (Lindsay Capek, Marketing Specialist at MTEFCU)
Think and Grow Rich by Napoleon Hill
This book was published in 1937, after the Great Depression. However, due to the pandemic recession, it is still relevant today! Rather than touting drastic changes that disrupt people’s lifestyles, the tips in this book are small, manageable things you can do every day to have a positive impact on your finances. It does not exclusively explore monetary wealth, though – it also talks about how your relationships and perspective work together with your wealth to make you happy and successful.
Have you read any other books about financial well-being lately? If so, email us to let us know what you read and why you enjoyed it!