Are you deeply in debt and want to get out of it? Do you want to have more money but simply don’t know where to start? When I first started my journey paying off more than $600k of student loan debt, my answer to both of those questions was a resounding YES. I was so overwhelmed by our finances and I didn’t know where to turn. So, I went to my local library and checked out every available book I could on personal finance and paying off debt. I read ANYTHING I could get my hands on. And then I made this list of my favorites– the best finance books that you should readto help motivate YOU to get out of debt (and have more money).
I am currently studying for the Oklahoma Bar. It has a frighteningly low pass rate (around 65%, compared Utah, where I just came from that has in the upper 90%). I have had to study more than is ideal for me (and for our blog for goodness sakes!) And even then, I’m still not sure if I am putting in enough hours to actually pass this thing. Please send all your good vibes/prayers/anything my way for me to pass. I don’t think our toddler will survive if I have to retake this thing! Haha. But really.
The bar is February 21-22 (a little more than 3 weeks away!) so I will likely be a little more absent from the blog and social media while I try to keep my self and toddler alive and simultaneously study for the bar. Please don’t forget about me over the next couple of weeks! I will try to check in and not be completely absent.
To keep your financial sweet tooth satisfied, I wanted to share my list of favorite personal finance/money making books that you can read while I am a little MIA. In no particular order (because seriously, I don’t have time to organize them in terms of my favorites), here are some GREAT reads, that frankly everyone who earns money or wants to earn money should read. So, everyone. Everyone read these please. These are all Amazon affiliate links but by all means, if your local library has these, go get them for FREE.
HERE ARE THE 8 FINANCE BOOKS YOU SHOULD READ
Rich Dad Poor Dad
This is a classic. Very easy to read, and very motivating to start thinking about ways to increase your income while not being obsessive about “having money.” It does not provide a lot of practical knowledge about how to get off your rear and make some money, but it is incredibly motivating to get creative for ways to earn extra. It has received negative criticism, but I found it extremely motivating.
The Total Money Makeover
Another classic that everyone should be at least familiar with. I don’t follow Dave Ramsey’s advice 100%, but he offers great advice especially for anyone just starting out to get their finances on track. I will say at the outset, if you are deeply in debt (like six figures or more) then the debt snowball approach that he talks about in his book is probably not going to be your best bet for paying off debt. (Find out why you should use a different approach here).
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
An excellent book on slowly generating wealth that might change how you see the people around you, at least regarding their finances. This is one of my favorites because so often when it comes to our money, we get sucked into get rich quick schemes that don’t actually lead us anywhere. This book overs more practical advice and is a good starting place.
The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life
A good read if you, like most Americans, have a little trouble with overspending. Since all of my family’s debt is student loan debt, we used to find ourselves saying things like “we don’t have a problem with spending.” But that is not true. We have purchased things we don’t need. We have strayed off our budget. We get sucked into that illustrious temptress drive thru at Chick-Fil-A. So even if you DON’T think you are an overspender because your debt comes from something like student loans or a mortgage, be sure to give this one a read.
Love Your Life, Not Theirs: 7 Money Habits for Living the Life You Want
Dave Ramsey’s daughter’s new book. I wonder if she hates being referred to as Dave Ramsey’s daughter all the time. Probably. Sorry Rachel Cruze. This book has good financial advice as well as general life advice.
Seven Years to Seven Figures: The Fast-Track Plan to Becoming a Millionaire
This book literally made me feel like starting a new business from the moment I picked it up. Not a lot of practical-real-life-application advice, but VERY motivating to start getting creative about how to increase your income.
The Intelligent Investor
A must read if you are planning to invest at all (which you should be, at least at some point.)
Pitch Anything
Actually not a personal finance book at all, but really great practical knowledge that will help you sell yourself, or things. Both of which we all need to do to earn money. I found this to be especially true when we got serious about paying off over half a million dollars in debt and quickly realized that all the penny pinching in the world wasn’t going to do us that much good. What we needed (and what you most likely need if you have six figures or more of debt) is to increase our income. This book offered useful tools to help us sell our ideas.
Reading personal finance and other finance books (and blogs 😉 is one of the most motivating things you can do to help keep you on track (or get you on track if you’re not there yet) so that you can stay focused on your goal of getting out of debt and otherwise increasing your income.Now get to reading! But do frequently come back to check in on me/us. I may lose my mind the next couple of weeks!
What are some of your favorite finance books? I’d love to hear from you!
