Four Must-Read Personal Finance Books

When it comes to reading books about finance, most people feel their eyes glossing over and their heads nodding off. Even if you do manage to plow through the first 10 pages of a dense financial saga, an unending wall of monetary mumbo jumbo can easily discourage you from finishing the whole thing.

Talented businesspeople and financial planners aren’t necessarily compelling writers, either, which is why finding a decent financial book can take ages. Luckily for you, we’ve done the legwork and found four easy-to-read books that don’t skimp on high-quality advice.

No jargon and no pre-requisites required – just solid financial solutions.

Thinking, Fast and Slow by Daniel Kahneman

This book is the perfect blend of the financial and psychological, taking a look into the reasons why we sometimes make boneheaded financial decisions despite our better logic. Written by Kahneman, a psychologist and a winner of the Nobel Prize in Economics, this book provides a breakdown of the differences between our fast-thinking and slow-thinking brain and gives suggestions of how these conflicting mental processes affect our spending, saving and investing habits. You may be scared off by the page length, but if you do have some extra time to dedicate to a financial book, this is a worthwhile and insightful read.

Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live By by Cary Siegel

If you’ve ever bemoaned the lack of financial education you received in high school and college, this book will be your saving grace. Siegel ditches overreliance on numbers and lengthy chapters for a well thought out list of 99 basic financial principles that can help people of any age lay a new financial foundation. Written in plain English, this book is a compact snapshot of good financial planning that can serve as a refresher for older adults or as an introduction to finances for teenagers or young adults.

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D.

Contrary to what the title suggests, this book isn’t all about the exorbitant incomes of the ultra-wealthy. Instead, it takes an in-depth look at the saving and spending habits of two types of people – under accumulators of wealth (UAWs) and prodigious accumulators of wealth (PAWs) – comparing and contrasting their spending and saving habits to lead the reader to a better understanding of the basic underpinnings of financial security. Some of the advice the authors offer is to limit lavish purchases like sports cars that only depreciate in value and to spend within or below your means. Best of all, this book is the result of years of academic research, which will be interesting to anyone hoping for advice backed by real data.

I Will Teach You to Be Rich by Ramit Sethi

Great for millennials or anyone with a great sense of humor, this book won’t make you feel guilty for splurging on the occasional latte. Instead, Sethi takes a systematic approach to finances and gives readers a tangible six-week program they can implement in their own lives. You’ll learn how to spend thoughtfully instead of making yourself miserable with an overly strict budget, and you’ll pick up some nifty tricks for managing credit cards and navigating student loans. If you are more internet inclined, you’ll be happy to hear Sethi also has an entire website dedicated to free financial tools, including a quiz to help you discover your earning potential.

Take Control of Your Finances with American Financial Solutions

Even the most regimented, responsible person can find themselves lost in the confusing maze of money matters. At American Financial Solutions, we want to ensure every person seeking our assistance regains financial control of their life, whether they are dealing with bankruptcy or debt from credit cards, student loans or home payments. Our comprehensive financial courses and certified credit counselors will help get you where you need to be. Call us at (888) 864-8548 or take advantage of our counseling lines Monday through Friday to take your first step toward a better financial future.

Published Dec 6, 2017.