My Top 5 Personal Finance Books

Personal finance is a topic that most people could use a lot more of an education in. It is startling to see just how many people willingly take on significant debt and continue to make poor financial choices on a constant basis.

I first got into personal finance after discovering a blog called Financial Samurai back in 2020. Since then I have consumed a good number of personal finance books, as well as podcasts and other content.

This post is going to take a look at my top 5 recommended personal finance books.

#5 Rich Dad, Poor Dad by Robert T. Kiyosaki

Rich Dad, Poor Dad is one of the cornerstone books within the personal finance genre and is actually labeled as the #1 personal finance book of all time.

Robert Kiyosaki offers financial wisdom that challenges the way most people approach money. Throughout the book he expresses views that are critical toward “working for money” and instead advises having “money work for you”.

Robert also goes into detail on the importance of “paying yourself first”, establishing good habits, and using work experiences as a learning opportunity.

#4 The Millionaire Next Door by Thomas J. Stanley, Ph.D., and William D. Danko Ph.D.

The Millionaire Next Door is another all time great personal finance book. Thomas Stanley and William Danko came together in this book to share their findings after a 20 year study on how people become wealthy. What their findings showed is that most of the people who live in upscale neighborhoods and drive luxury vehicles are not actually wealthy. They are just “living high”. Most of the people who are actually wealthy don’t even actually look wealthy.

The book goes on to share the common factors that make up wealthy people including living below their means, allocating their time and energy efficiently, and prioritizing financial independence over high social status.

Even just as I’m writing this summary, I’m reminded just how great of a book this one is.

#3 Think And Grow Rich by Napoleon Hill

Think and Grow Rich was a book recommended to me by my Father. It’s the only book on this list that I listened to as an audio book rather than holding an actual copy.

Think and Grow Rich was written in 1934 but still holds up well to this day.

Throughout the book Napoleon Hill shares some ways that you can change your mindset so that you can find greater success. He shares insights on how many people can take on subconscious negative views about themselves and the world around them, and provides practical guidance on how to apply a more positive perspective.

#2 Set For Life by Scott Trench

Set For Life is a book that can be very digestible for just about anyone. Throughout the book Scott shows how you can go from a zero net worth to being financially independent and set for life.

His principles are very easy to follow.

Early on he recommends frugality. Living below your means, taking care of things like car maintenance and meal prepping on your own to save money, and even biking to work rather than driving each day. Scott is a big proponent of real estate and highly recommends to buy an investment property as your first big financial move. From there he recommends transferring toward a career path that is more scalable, and continuing to invest your way to financial independence.

#1 Buy This, Not That by Sam Dogen

Buy This, Not That is Sam’s first of two books, which was released 13 years after starting his personal finance site Financial Samurai.

The title Buy This, Not That has two meanings. The first is that it applies to spending your money in the right ways rather than wasting it carelessly, and the other is buying into the principles displayed throughout the book rather than the typical way that most people go about things.

Sam is very detailed on providing accurate investment ratios as well as recommended savings rates based on your earnings. Similar to Scott Trench, Sam is a big proponent of investing in real estate. He also advocates for things such as building your own brand and engineering your departure from standard work so that you can live a healthier lifestyle.

Honorable Mention: How To Get Rich by Naval Ravikant

“How To Get Rich” isn’t actually a book but is a podcast recorded by Naval Ravikant based on a series of tweets he released on how to get rich without “getting lucky”.

Naval is someone who doesn’t shy away from sharing the positive impact that wealth can have on your quality of life. He says that getting rich won’t solve all your problems but will solve your money problems.

Throughout the podcast Naval shares some practical guidance on developing the right skills and habits to become successful. He is someone who advocates reading, learning, and utilizing today’s resources to build something for yourself.

Thank You For Reading

Thank you for taking the time to read this article. I hope that you have enjoyed as always. Please do yourself a favor and check out the books listed above. Even if you were to just read one of the five it would be enough to have a significant impact on your financial approach.

Thank you again, and I will see you on the next article.