books

What are some good books on personal finance?
General Personal Finance

The Millionaire Next Door. Identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door. This new edition, the first since 1998, includes a new foreword for the twenty-first century by Dr. Thomas J. Stanley.

Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Fully Revised and Updated. By Vicki Robin and Joe Dominguez, especially if you want to change your emotional relationship with money.

I Will Teach You to be Rich by Ramit Sethi. For a generation that’s materially ambitious yet financially clueless comes this 6-week personal finance program for 20-to-35-year-olds. A practical approach delivered with a nonjudgmental style, based around the four pillars of personal finance–banking, saving, budgeting, and investing–and the wealth-building ideas of personal entrepreneurship.

Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner. From tackling taxes to boosting credit scores, Get a Financial Life can show those just starting out how to decrease their debt, avoid common money mistakes, and navigate the world of personal finance in today’s ever-changing landscape.

The Richest Man in Babylon by George Clason, for timeless advice. Absolute classic, holds the key to all you desire and everything you wish to accomplish. This is the book that reveals the secret to personal wealth.

Intelligent Investor – Benjamin Graham This book was written by the father of “value investing”, and the mentor of Warren Buffett, who is widely accepted to be the world’s most successful investor.

It was originally published in 1948, but Ben Graham updated it periodically over the years, and it stands as true today as it ever has.

Beating the Street – Peter Lynch. Published in 1994, this is arguably showing its age more than Intelligent Investor. Either way, valuable reading from one of the best managers of money in the past few decades.

Smarter Investing – Tim Hale. The ultimate counterpoint to attempting to “beat the markets” – after spending 15 years working in active fund management, Tim Hale concluded that the best outcomes for most investors in most situations would be a simple portfolio of “passive” investments (that is, funds which attempt to track a market, rather than outperform it). This style is favoured by the likes of Monevator, and many of the subscribers here.

The Financial Times guide to investing – Glen Arnold. A great starter guide, going from the very basics (why businesses need shareholders) to more in-depth explanations of different types of investment, and step-by-step guides on how to execute trades.

The Meaningful Money Handbook – Pete Matthews. Straightforward approach to budgeting, planning, saving and investing from the host of the Meaningful Money podcast.

Money Diet – Martin Lewis. Consumer champion Martin Lewis’s first book, and a must-read, although a lot of the information is also on the moneysavingexpert.com website.

Financial Wellbeing Book – Chris Budd. A book focused more on the why than the how (although it does deal with the how as well). A very much worthwhile read about longer-term planning and deciding what is important to you.

Debt

The Total Money Makeover  is Dave’s all-time bestselling book. It has helped millions of families get rid of debt and change their lives forever with its simple, practical seven-step plan. How does it work? By getting to the heart of your money problems: You. Dave condenses his 20 years of financial teaching and counseling into 7 organized, easy-to-follow steps that will lead you out of debt and into a Total Money Makeover. Plus, you’ll read over 50 real-life stories from people just like you who have followed these principles and are now winning with their money. It is a plan designed for everyone, regardless of income or age.

Investing

The Bogleheads’ Guide to Investing is a DIY handbook that espouses the sage investment wisdom of John C. Bogle. This witty and wonderful book offers contrarian advice that provides the first step on the road to investment success, illustrating how relying on typical “common sense” promoted by Wall Street is destined to leave you poorer. With warnings and principles both precisely accurate and grandly counterintuitive, the Boglehead authors show how beating the market is a zero-sum game. Investing can be simple, but it’s certainly not simplistic. Over the course of twenty years, the followers of John C. Bogle have evolved from a loose association of investors to a major force with the largest and most active non-commercial financial forum on the Internet. The Boglehead’s Guide to Investing brings that communication to you with comprehensive guidance to the investment prowess on display at Bogleheads.org. You’ll learn how to craft your own investment strategy using the Bogle-proven methods that have worked for thousands of investors, and how to: Choose a sound financial lifestyle and diversify your portfolio; start early, invest regularly, and know what you’re buying; preserve your buying power, keeping costs and taxes low; throw out the “good” advice promoted by Wall Street that leads to investment failure.

Financial markets are essentially closed systems in which one’s gain garners another’s loss. Investors looking for a roadmap to successfully navigating these choppy waters long-term will find expert guidance, sound advice, and a little irreverent humor in The Boglehead’s Guide to Investing.

A Random Walk Down Wall Street by Burton Malkiel. Today’s stock market is not for the faint-hearted. At a time when high-frequency traders and hedge funds seem to have the upper hand, one might ask what the average investor is to do.

Turn to the rock-solid advice in Burton G. Malkiel’s best-selling guide to investing. A Random Walk Down Wall Street now features new material on exchange traded funds and investment opportunities in emerging markets as well as a brand-new chapter on “smart beta” funds. And as always, Malkiel’s core insights—on stocks, bonds and money markets as well as property investment trusts and tangible assets—along with the book’s life-cycle guide to investing, will restore confidence and composure to anyone seeking a calm route through today’s financial markets.

The Simple Path to Wealth by JL Collins, a simple introduction to investing and building wealth. Explores: Debt: Why you must avoid it and what to do if you have it; The importance of having F-you Money; How to think about money, and the unique way understanding this is key to building your wealth; Where traditional investing advice goes wrong and what actually works; What the stock market really is and how it really works; Why the stock market always goes up and why most people still lose money investing in it; How to invest in a raging bull, or bear, market; Specific investments to implement these strategies; The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age; How your asset allocation is tied to those phases and how to choose it; What investment firm to use and why the one I recommend is so far superior to the competition; Why you should be very cautious when engaging an investment advisor and whether you need to at all; Why and how you can be conned, and how to avoid becoming prey; Why I don’t recommend dollar cost averaging; What financial independence looks like and how to have your money support you; What the 4% rule is and how to use it to safely spend your wealth; A Case Study on how this all can be implemented in real life.

The Little Book of Common Sense Investing by John C. Bogle. The classic guide to getting smart about the market. Legendary mutual fund  pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.

Retirement

How to Make Your Money Last (2020 Edition) by Jane Bryant Quinn. Turn your retirement savings into a steady paycheck that will last for life with Jane Bryant Quinn’s “‘how to’ book that covers every phase of retirement finance. Bottom line, anyone on the retirement track or in retirement should own this book” (Huffington Post).

The Bogleheads’ Guide to Retirement Planning by Taylor Larimore et al

Australia specific

Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (Second Edition) by Andrew Hallam. Shows you how to achieve financial independence through smart investing ― without being a financial wizard. Author Andrew Hallam was a high school English teacher. He became a debt-free millionaire by following a few simple rules. In this book, he teaches you the financial fundamentals you need to follow in his tracks. You can spend just an hour per year on your investments, never think about the stock market’s direction ― and still beat most professional investors. It’s not about get-rich-quick schemes or trendy investment products peddled by an ever-widening, self-serving industry; it’s about your money and your future. This new second edition features updated discussion on passive investing, studies on dollar cost averaging versus lump sum investing, and a detailed segment on RoboAdvisors for Australians investors.

Financial literacy is rarely taught in schools. Were you shortchanged by your education system? This book is your solution, teaching you the ABCs of finance to help you build wealth.

Millionaire Teacher shows how to build a strong financial future today.

The Barefoot Investor: The Only Money Guide You’ll Ever Need (2018 Edition) by Scott Pape. Everyone knows who this is.