According to the 2020 TIAA Institute-GFLEC Personal Finance Index, financial literacy in the United States is improving steadily. Some US adults took a poll and answered 52 percent of questions correctly, but that figure has been increasing at a rate of around 1% per year from 2017 to 2020. If you’re like most Americans, you may not have learned much about money management from your parents or colleges, which is why finding reliable educational tools like personal finance books is so important. You can use Payday Depot funds to purchase the books listed in this post to invest in your financial literacy!
These top finance books deliver useful information that’s also engaging, motivational, and relatable:
1. The Wealth Choice
Dennis Kimbro’s book “The Wealth Choice: Success Secrets of Black Millionaires” is an excellent read for those interested in accumulating wealth. It is both inspiring and informative. In this 2013 book, Dr. Kimbro, a college professor, motivational speaker, and writer for the Napoleon Hill Foundation, seamlessly combines years of in-depth experience with compelling success stories. The page-turning storytelling style, combined with his financial savvy and general life experience, will undoubtedly make it a personal finance read that will resonate with a wide audience for many years.
2. Investing 101
There aren’t many books on investments that look good enough to keep on your coffee table, but Michele Cagan’s “Investing101” is one of them. Readers will find a well-written guide to investing between the covers of this volume. This book, like the rest of the 101 series, is part manual and part textbook. It won’t tell you how to beat the market, but it will make you understand how different financial vehicles operate, the distinctions between various types of assets, and how to create a well-rounded portfolio for long-term growth.
3. Easy Money
“Easy Money,” written by Gail Vaz-Oxlade of the Canadian personal finance TV show “Til Debt Do Us Part,” is a brilliant read. In this short guide, Vaz-Oxlade’s writing style and years of experience as a personal finance educator come through, directing readers on how to prepare a financial plan and what to include in a budget. Vaz-well-honed Oxlade’s budgeting scheme needs no tools, no applications, and no math or engineering expertise, while other budgeting books rely on constant monitoring and optimizing.
4. Dollars and Sense
The notion that our spending choices are solely based on rationality and schooling has been debunked for a long time. We now understand that our feelings and subconscious wishes often influence our financial choices. Readers are introduced to the inner workings of the human mind when it comes to coping with money in Dan Ariely and Jeff Kreisler’s book “Dollars and Sense: How We Misthink Money and How to Spend Smarter.”
5. Perfect Credit
The tone of Khalfani-Cox gives the impression that the reader is receiving sound advice from a trusted friend who also happens to be a former Wall Street Journal reporter. The book often addresses common but frequently neglected issues such as negotiating with borrowers and controlling spending to avoid potential credit overuse.
Our list of the top-5 books on finance is designed to give you the information you need to feel motivated to take charge of your finances and bring them to a whole new level. A decent book on personal finances will provide you with useful advice about handling your spending, earnings, mortgage, and investments.