6 Best Personal Finance Books for 2020

The best personal finance books of 2020 to help you manage your money

If improving your personal finance is one of your goals in 2020, there is always a book to help you to achieve that.

Reading a book about personal finance is the logical step if you want to make drastic changes in managing your money. Whether you want to build a passive income, retire early or discussions about money management there is a book that can guide you in every topic on personal finance.

In this article, we have the rundown of the 5 best personal finance books that have all the valuable lessons you will need to change your financial situation for the better.

The Millionaire Next Door by doctors Thomas Stanley and William Danko

One of the biggest misconceptions about millionaires is that they live lavish lifestyles. But it is far from the truth. This book teaches you that if you want to be wealthy, you have to do what wealthy people do. And it is not about being lucky. It is about managing your money, mastering the art of budgeting and living within your means. A fun interesting read because it is loaded with valuable insights on how rich people become richer and how to raise your children to be successful in managing their own finances. This is an inspiring book because it will show you how almost anyone can become a millionaire if you know how to invest well and live a frugal life.

Rich Dad, Poor Dad by Robert Kiyosaki 

One of the best classics in the personal finance subject is Rich Dad Poor Dad. This book will help you gain a better understanding in terms of personal finance. It also tackled the different mindset between the rich and the poor and how this type of mindset can be an asset or a liability to your life. A great book to address the common mentality of impressing others by spending money until you drown in debt. This is a practical book with great advice that can be applied in rethinking your decisions and emotions towards money. If you are looking for a book that can help you change your mindset about money, this will be a great buy. 

I Will Teach You To Be Rich by Ramit Sethi 

If you want to save for retirement, invest wisely no matter what your income level might be, this book can be your guide. Ramit Sethi wrote actionable steps on how to improve your personal finance and he tells you exactly what to do. Every chapter is well-researched and straight-forward and he gains your trust by dropping names of which banks to trust based on his personal experiences.A game-changing book that will make you feel more in control about your money if you take the right action in managing your finances. 

Broke Millennial Takes On Investing by Erin Lowry

A book with an exciting topic about investing. If you are a young millennial who is more focused on earning money to spend, this book will give you insight on how important it is to think first before spending. This book has a lot of useful information about investing for beginners. A fun, but a well-researched book that is inspiring for the young people and help them avoid making bad financial decisions 

Why Didn’t They Teach Me This in School? by Cary Siegel

This book is an ideal gift for people who are starting to earn and learn about money. An easy to read, a great conversation-starter because of the truth most of us never learned the basics on how to manage our money while we were in school. Great book suggestion if you want to gain some interesting advice and ideas that will help you start saving on your own.

The Total Money Makeover by Dave Ramsey

If you are tired of watching your bank account drain and credit card balances rise, this book should be your bible! A great reference book if you want to live debt-free and why cash is better than credit cards. You will also learn how to organize your money by creating cash envelopes for each spending category and stuff the sections of the envelopes with budgeted amounts of cash – this will help you avoid accidental overspending. Dave Ramsey wrote this life-changing book with great advice in taking control of your money.

These books are here to help you in managing your personal finances.

It may not make you rich  instantly or get all your cash loans from a lending company paid in no time but these books can be instrumental in shifting your mindset and have a good understanding on how to handle your money. If you find yourself in financial despair, always refer to these great books to guide you in living a financially stable and debt-free life.

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