The best books on budgeting can give you all of the best tips and tricks to managing your accounts. In this way, you can be financially prepared for anything that comes your way. From saving for a car to reducing my spending, I have found these titles to be some of the most valuable resources. Let’s dive into these exciting budgeting books that I’m sure you will also find useful.
Table of Contents
Best Books on Budgeting Reviews
1. Why Didn’t They Teach Me This in School by Cary Siegel
4.5 STARS with over 1K reviews
Knowing what to expect and how to prepare for your future beyond high school and college is essential for absolutely everyone. Why Didn’t They Teach Me This in School is one of the best books I can recommend for anyone stepping into adulthood.
There is no doubt that schooling gives students essential knowledge. The problem is, most curriculums are lacking when it comes to financial preparedness.
Product Highlights
Some of the fascinating topics you will find in Why Didn’t They Teach Me This in School include:
● Personal Money Management
The entire premise of this book is to give readers the essential knowledge they need for money management. You will find a collection of eight easily digestible lessons to help you with an assortment of financial skills. Above all else, these lessons are written from a personable perspective, making them easier to relate to.
● Quick Read
There is only so much time in the day that we can spend reading. Fortunately, this book is written in such a user-friendly manner that you can quickly get through all the lessons. By its end, you will feel like you have all of the essential tips required to transform your bank accounts.
● Practical Principles
Far too often, I read money management books and find that the tips and tricks are impossible to apply to everyday life. Why Didn’t They Teach Me This in School is a phenomenal resource written for the regular person. All of the principles apply to any situation, making it far easier to relate to and use to your advantage.
● 99 Financial Principles
Within the eight individual lessons in the book, you will find 99 essential principles designed to help anyone struggling with finances. You will have the ability to acquire real-world knowledge about dealing with savings, investments, curbing spending, and more.
What To Like About It
Why Didn’t They Teach Me This in School is a valuable learning resource written in a tone ideal for teens. You will find plenty of advice written in a personable and friendly manner to help prepare readers for adulthood. If there is one thing I can say, it is that this book makes a phenomenal gift for recent graduates.
What Not To Like About It
Unfortunately, this isn’t the top book that I would recommend for adults managing their finances. The majority of the tips are common sense for many experienced readers, limiting their value with older audiences.
Pros:
● Valuable learning resource
● Written well for teens
● Friendly, personable advice
● Prepares you for adulthood
Cons:
● Many common-sense tips
● Not ideal for adults
2. Rich Dad Poor Dad by Robert T. Kiyosaki
Over 50,000 reviews– 4.5 STARS
If you have ever contemplated managing your finances, you have probably heard of Rich Dad Poor Dad, written by Robert T. Kiyosaki. Often referred to as a personal finance guru, Kiyosaki’s top-rated books are ideal for managing finances. You will find an assortment of valuable tips and tricks, many I have used myself, to help work with your income and savings.
Product Highlights
Some of the most impressive details I found in Rich Dad Poor Dad include:
● Realistic Approach
It is incredible to have a financial resource that takes a realistic approach to manage your finances. Within this title, you will find an assortment of tips that suggest you don’t have to be rich to start saving. In fact, it is written from the perspective of an average income earner, making the advice easier to relate to.
● Long-Lasting Advice
It is important to note that this book is over 20 years old, which means its advice has made it through years of testing. All of the tips within the pages are still applicable today, speaking to the reliability and relevance of the advice. I guarantee you will be able to find several key items to help you transform the way you manage your money.
● Challenges Beliefs
As we enter adulthood, there are specific theories we’re told, such as that our houses are assets. Rich Dad Poor Dad takes a new approach by exposing the truth behind common financial myths. You will be able to learn more about what you genuinely need to begin saving so that you can live a more comfortable life.
● Financial Parenting
As a parent, you must instill positive financial management advice in your children. In this book, readers will acquire fundamental knowledge to make it much simpler to guide their kids to financial success. Considering the author is a father himself, you can guarantee there are plenty of family-based tips to prepare your entire family.
● Candid Advice
Something I have learned over the years is that the more candid the advice is, the easier it is to digest. Instead of beating around the bush, Robert Kiyosaki provides straightforward advice in a no-nonsense approach. Readers will be able to better digest his tips, helping them to understand the reality of their financial situations.
What To Like About It
Rich Dad Poor Dad is an excellent book for anyone looking to expand their financial intelligence surrounding assets, liabilities, and taxes. You will find plenty of investing tips as well as essential tricks for managing a savings account with a low income. Instead of catering to the wealthy, this book is ideal for middle- to low-income families looking to improve their financial standing.
What Not To Like About It
The most significant issue with this book is that explanations are missing for specific tips. For example, the author notes holding investments for seven years but doesn’t explain why. Also, the writing style is slightly dated, considering it was written in the late ‘90s.
Pros:
● Improves financial intelligence
● Helps to manage taxes
● Valuable investing tips
● Assists with low-income savings
Cons:
● Dated writing style
● Lacks some explanations
3. The Total Money Makeover by Dave Ramsey
Over 20,000 Reviews — 4.5 STARS
The Total Money Makeover is another notable personal finance book that was recommended to me by a friend. Written by Dave Ramsey, the tips within the pages are essential to ensuring your future financial success. With a strong focus on maintaining a positive savings account, it is a valuable resource to have on hand.
Product Highlights
Some of the most exciting aspects explored in The Total Money Makeover include:
● Designing a Financial Plan
The backbone of the theories in this book revolves around designing a financial plan. In the beginning, readers will be required to set up a budget that they can stick to so that they ensure they are amassing savings. You will have to look at all of your current expenses and determine where you can siphon money for your savings.
Compared to other financial books, I have found that this method is ideal for success. Basically, every reader can design a specific financial plan based on their available income to create a nest egg.
● Focus on Savings
As earlier mentioned, this book is designed to help families establish different types of savings. You will learn more about specific savings accounts, such as those for vacations and emergency funds. It stresses the importance of having backup funds available to ensure you don’t dip into your life savings.
● Eliminating Money Myths
When it comes to managing personal finances, there are always plenty of tips circulating worldwide. With that said, not all of them are accurate or applicable to everyone’s situation. The Total Money Makeover addresses 10 of the most common money myths and explains the truth behind them.
If you have used financial advice in the past only for it to not work, this book is ideal. You will have a far better idea of what to do and what to avoid when it comes to allocating your finances.
● Personal Advice
A couple of chapters within this book stray away from financial advice and focus on personal advice. You will find excerpts about managing college debt as well as dealing with marriage and familial conflicts. Compared to other financial texts, this book was far more personable and enjoyable.
● Written Testimonials
It is challenging to know whether a self-help book will be valuable to your everyday life. Throughout The Total Money Makeover, you will find dozens of testimonials from families throughout the United States. Each of the testimonials explains how certain premises assisted with specific areas of saving.
What To Like About It
The Total Money Makeover is a great book to have to enter the personal finance market. It is written in a quick-step format, making it easily digestible for anyone and is straightforward to follow. If you are looking for a resource to help you manage your savings, this is my top recommendation.
What Not To Like About It
It is easy to tell that this book is written for families in the U.S., so some advice might not apply internationally. Also, to experience the true success of Dave Ramsey’s methods, you will need to purchase a separate workbook.
Pros:
● A good entry point to finance
● Quick-step format
● Helps with managing savings
● Easy-to-follow format
Cons:
● Written for those residing in the U.S.
● Requires workbook
4. Broke Millennial by Erin Lowry
If there is one thing every millennial needs in today’s current market, it’s financial advice. Dealing with saving for a home, managing college debt, and having disposable income seems nearly impossible. Broke Millennial was one of the more eye-opening reads I could get my hands on with realistic advice.
Product Highlights
Some of the most impressive topics discussed in Broke Millennial include:
● #GYFLT
The primary concept explored within this book is learning how to get your financial life together (#GYFLT). It is written in an entertaining and personable style, which makes it easier to follow and understand. There is no doubt that every generation, especially millennials, will learn valuable insight to stop being cash-strapped.
● Savvy Tips and Tricks
Some older written financial texts have advice that feels outdated and doesn’t apply to the world’s current state. This book is newer, providing essential tips and tricks that are valuable to current and upcoming millennials. It focuses on the most talked-about struggles that young adults are facing while trying to become financially independent.
● Fundamental Knowledge
Although there are plenty of innovative tricks that you can use to manage your finances, this book also focuses on the fundamentals. You will find a focus on managing credit card debt, how to budget effectively, as well as what investments to make. Still, all of the basic financial knowledge in the text is presented in a fun and engaging manner.
● Added Stories
Some of the best advice I have received is when I learn from the experiences of others. Broke Millennial takes teaching finance a step further by providing hilarious stories from people exploring their financial roadmap. Instead of making the same mistakes, you can learn from their experiences to become more financially independent.
● Relatable Advice
As mentioned, Erin Lowry, the author, provides personable advice that is easy to follow. It’s also written in a specific manner to make it more relatable to a younger audience. Some of the concepts explored include:
● How to discuss finances with your significant other
● What to do when you are out and can’t afford to split the bill
● How to manage student loans
● How do you find partners as serious about finance as you
What To Like About It
There’s plenty to appreciate with Broke Millennial, especially if you need a book with a heavy focus on the mentality of finances. The text is easily digestible and applicable to most readers’ situations, especially with its practical advice. You will find plenty of entry-level tips that are practical and easily doable.
What Not To Like About It
The most significant problem I had with this text is how it was written with a stereotypical approach to the everyday millennial. As such, you might find that the writing doesn’t necessarily apply to your personal situation. Also, some of the tips are frequently discussed throughout other financial advice texts.
Pros:
● Heavy focus on a financial mentality
● Easily digestible material
● Comprehensive, practical advice
● Fantastic entry-level tips
Cons:
● Rehearses some common tips
● Stereotypical generational approach
5. The Automatic Millionaire by David Bach
The Automatic Millionaire is a unique read covering the journey of the average family. Instead of offering advice from a pedestal, the book’s author, David Bach, takes a sensical approach to finance management. You will learn plenty of valuable tips that helped an average family turn their savings into one million dollars.
Product Highlights
A few of the most notable highlights you will find in The Automatic Millionaire include:
● Avoids Budgeting
I noticed that this book doesn’t focus on budgeting as many others do. In fact, it theorizes that there’s no way a family can get rich while maintaining a budget. If you are in the market for a nouveau approach to finances, this is the perfect resource for you.
● Developing a Financial Plan
The first part of financial success is to have a plan in place, and this book helps you create your own. You will be able to come up with a functional, adaptable, and practical plan based on your income so that you can transform your finances.
● Realistic System
All of the principles discussed in The Automatic Millionaire are very realistic, making them easily adaptable. All of the tips will continue to be valid over the years, especially in today’s market. You will also have access to essential resources, such as top websites, apps, and phone numbers for financial success.
● Useful for Low Incomes
It is important to note that this book was written based on a combined income of $55,000/year. Still, it’s a remarkably valuable resource for anyone, regardless of how much you are earning. All of the tips are highly adaptable to young adults, experienced professionals, and even seniors.
What To Like About It
The Automatic Millionaire is packed with debt management tips and practical investment advice for beginners. It takes a more adaptable approach to finances and can easily be read, as it is formatted for any reader.
What Not To Like About It
This book isn’t recommended for people who have already established a financial plan, as it focuses on starter tips. Also, there isn’t any hidden knowledge within the pages that you won’t be able to find elsewhere.
Pros:
● Debt management tips
● Provides investment advice
● A practical approach to finances
● Easy-to-read format
Cons:
● Best for inexperienced readers
● No “secret” knowledge
Buyer’s Guide
Choosing the optimal financial guide is something I had struggled with for years. Some texts were too dull, while others didn’t have advice that applied to my personal situation. To help you out, I have created a list of the most important things to look for when you begin looking for financial self-help books.
1. Writing Style
The most important thing to consider when using finance tips is to consider the book’s writing style. If you choose a personal finance book written in an unsatisfactory manner, you might end up not reading all the way through. Unfortunately, this causes far too many readers to give up on the strategies within the pages too early.
2. Activities
All of the best personal finance books are crafted with unique activities for the readers to participate in. For example, some books help you devise a budget that suits your current income. You will want to ensure the book has worksheets and actionable tips and tricks that you can test out for yourself.
3. Strategy
Another important factor to consider is the strategies within the pages designed to help. Some of the most popular finance management texts have repetitive text with common strategies. You are going to want to invest in a book with unique concepts for any reader.
4. Demographic
Every author has a demographic, which can affect the writing style and strategies in their advice. Ensure you choose a book designed for your age group; otherwise, the financial advice could be irrelevant. For example, millennials might not have the same financial concerns as senior citizens and vice versa.
5. Author’s Reputation
An author’s reputation, especially in this genre, is an essential factor to take under advisement. The more renowned a financial guru is, the more practical their advice will be, as it has already been proven successful. I highly recommend doing a little bit of background research on the author of the books you are interested in.
Books on Budgeting FAQs
1. How do I make budget books work?
The best way to make budget books work is to follow all of the steps within the pages, one at a time. Do not let yourself get overwhelmed, as you will lose interest in meeting your goal of financial success. The majority of these texts are written in a way that should be easy to follow and with realistic approaches to finance management.
2. What makes good finance books?
There are plenty of traits that make a good finance book, from easily digestible writing to tips for everyday people. Read reviews of these books before buying them to make sure they will work with your personal situation.
3. What are personal finance books?
Personal finance books are filled with valuable information to help you create an appropriate budget to amass savings. You will be able to save for retirement, trim expenses, and have a nest egg for accidents and emergencies. They also aim to help you live more comfortably.
4. What are good money management skills?
When you read through budgeting books, you will have the ability to acquire new money management skills. One of the most essential skills to develop is willpower, as you will allocate some of your income to remain untouched. It is also important to focus on your financial maturity to ensure you stick to your goals.
Which Is the Best Budgeting Book?
Our top recommendation for the best books on budgeting is the Broke Millennial. It contains valuable information for people beginning their financial journey for future success. I also found that it has the most up-to-date information relevant to most financially struggling individuals.
