Most Recommended Personal Finance Books

In HelpYourMoney.com’s last set of interviews of over 20 personal finance bloggers, the fourth interview question was “If you had to recommend just one financial related book, what would it be?”Here are most of the replies to that question (consolidated into this one page) in order of the most recommended personal finance books:

1. The Millionaire Next Door by Thomas J. Stanley: 5 recommendations.

Kira Says:
Everybody and their brother has read The Millionaire Next Door, but I really enjoyed it because it kind of gave me some solid findings about things I had thought for a long time (i.e. don’t give your children too much money, don’t spend all of YOUR damn money) and some proof that these kinds of tips really did work out and made people financially secure. I’ve never been a big buyer of “stuff” so I got a kind of voyeuristic thrill out of the stories about people who spend all their money and have flashy lifestyles but ultimately aren’t very secure.

Amanda Says:
I think the book that resonated the best with me is The Millionaire Next Door. I think it really puts everything into perspective about what real wealth is and how it is acquired.

lamoneyguy Says:
It’s common, but for good reason. The Millionaire Next Door. This was the one that opened my eyes and changed my attitudes about money and consumption.

Tricia Says:
I’ve only read one finance related book so far, but I’m not sure another book could top this one - “The Millionaire Next Door.” I was highly impressed with this book and I even held a contest to give away my copy to someone so they could read it as well.

It opened my eyes and brought about a whole new way of thinking for me when it comes to money and who really has it. I actually had some deep stereotypes of who millionaires were and they aren’t the flashy people I thought they were. They are actually more like myself with being frugal and looking for values.

Sharon Says:
I’m very fond of the Millionaire Next Door. That book offers great insights about wealth, family values and hard work. It really dispels a lot of myths about millionaires. I love the book’s message, namely: there is no substitute for discipline, delayed gratification and frugal living.

2. Your Money or Your Life by Joe Dominguez & Vicki Robin: 3 recommendations

Penny Nickel Says:
Your Money Or Your Life, by Joe Dominguez and Vicki Robin. It’s an extremely thought-provoking read, and really encourages you to think about how to design your relationship to money to serve your priorities in life. I have not actually done the nine-step process in the book, but I’ve gotten a lot out of it, anyway, so don’t let that scare you off. Just read and think!

Michael Says:
Just one? Argh. I suppose I’d go with Joe Dominguez’ Your Money or Your Life. I read that book, and finally, I understood.

J.D. Says:
I don’t think there’s any one book that is best for everyone.
…If you’re like me and you want to work toward Financial Independence (and/or early retirement), then Your Money or Your Life is best. (YMoYL is my all-time favorite personal finance book.)

3. The Total Money Makeover by Dave Ramsey: 2 recommendations

The Family CEO Says:
I’m a big fan of Dave Ramsey’s The Total Money Makeover.

J.D. Says:
I don’t think there’s any one book that is best for everyone.
…If a person is in debt and wanting to get out, Dave Ramsey’s THE TOTAL MONEY MAKEOVER is a fantastic choice. It’s inspirational, and it’s filled with great advice.

4. The Four Pillars of Investing by William Bernstein: 2 recommendations

Frugal Says:
For investing books, I do like “The Four Pillars of Investing” by William Bernstein a lot.

For personal finance books, I don’t really have any. I think personal finance is mostly about saving and investing, and some tax & real estate for sure. No one or no books can do the actual work of living frugally to save money for you. The other topics on investing, tax, and real estate are quite specific and deserve separate books for each topic.

Jonathon Says:
Just one? How about “A Random Walk Down Wall Street” by Malkiel. Followed closely by “Four Pillars of Investing” by Bernstein.

5. A Random Walk Down Wall Street by Burton Malkiel: 2 recommendations
6. One Up On Wall Street by Peter Lynch: 1 recommendation

Chrees Says:
I haven’t read a finance related book in at least 15 years, so I’m not sure I can speak to this. Two that had an impact on me in my 20’s were Burton Malkiel’s “A Random Walk Down Wall Street” and Peter Lynch’s “One Up on Wall Street.” These are two good introductions to financial markets and solid approaches to investing—with updates I think they could still be relevant.

Jonathon Says:
Just one? How about “A Random Walk Down Wall Street” by Malkiel. Followed closely by “Four Pillars of Investing” by Bernstein.

7. Covered Calls and Naked Puts by Ron Groenke: 1 recommendation

Richslick Says:
This is a tough one because I know of so many but the one that I would recommend that ties into what I do on my blog right now is Covered Calls and Naked Puts by Ron Groenke. The book is an easy to read introduction into the “safer” side of trading options and investing.

8. The Number by Lee Eisenberg: 1 recommendation

Flexo Says:
I guess my favorite so far has been The Number, by Lee Eisenberg. The author managed to assume his readers are intelligent, and the book wasn’t full of throw-away one-liners and over-generalizations typical of those “authors” who are more interested in selling their image and their seminars. Yes, I guess you could say I’m fairly “anti-guru.” I don’t like motivators or writers who focus on “inspiration.” I need substance.

9. The Wealthy Barber by David Chilton: 1 recommendation

J.D. Says:
I don’t think there’s any one book that is best for everyone.
…But for general advice, my favorite book is probably THE WEALTHY BARBER. It has something for everyone, and is presented in a very readable style. The book is not without flaws, but it’s very very good.

10. Richest Man in Babylon by George S. Clason: 1 recommendation

Stuart Says:
This may sound a little trite but the best financial book I’ve ever read would be “The Richest Man in Babylon” by George S. Clason. If more people had read this and put the principles into practice debt levels in our nations wouldn’t be as high and people would be much better financially.

11. Girl, Get Your Money Straight and Girl, Make Your Money Grow by Glinda Bridgforth: 1 recommendation

Single Ma Says:
I love these books because they were pivotal in my early years of learning how to manage my finances. Ms Bridgforth takes a holistic approach in discussing some of the reasons women struggle with their finances. It’s an interactive book that allows you to answer questions and take notes that you can reference as you grow.

When learning something new, it’s important to understand the foundation before you can build upon it. The same concept applies to personal finance. Understanding your spending habits and how your values are tied to money helps to correct destructive behavior and improve your net worth.

12. The Book of Investing Wisdom edited by Peter Krass: 1 recommendation

Jason Says:
Most of the time my opinion on the best book or movie is my current favorite one. Right now I have been reading The Book of Investing Wisdom edited by Peter Krass. It is a compilation of some of the classic writings of the great investors. So far it seems like a really good read for someone that is fairly new to this world.

>> Have read any of the personal finance books listed above? Please tell us what you thought of them!

Click Here to read all the questions and answers in our interviews of other personal finance bloggers.