Best Personal Finance Books for Millennials

These books will make you rich. Maybe not today or tomorrow, but you will get rich over time and have a richer relationship with money.

Literally, trillions of dollars have been made because of the recommendations in these books. There are millions of bestsellers written over the past 70 years. Reading just one or all of them is an exceptionally good use of your time.

Must-Read Books on Personal Finance

If you just read a few of the books listed below your future life earnings will likely be hundreds of thousands, if not millions of more dollars higher than if you didn’t. The recommendations in these books are that good. Spend 2-4 hours of reading per book, or 5-8 hours listening to one and the ROI of that time will compound exponentially.

best personal finance books

I’m super busy I try to read or listen to 4-5 new money books every month. I try to mix it up – reading both new and classic books on saving, wealth building, investing, and real estate investing. I can cruise through most books in an hour or two – hitting the intro, reading the first 2 chapters, and then picking the other chapters that I find more relevant to me.

When I travel and walk the dog, I listen to Audible – so I keep learning while I’m moving around. Audiobooks are actually incredible and you even learn unconsciously when you aren’t paying close attention. Audiobooks make you smarter.

About 20% of the time I read the whole book and about 2% of the time I can’t put the book down. Over the past 5 years I’ve read or listened to over 250 books on money and here are my all-time top 7 books on saving, wealth building, investing, and real estate investing. All of them changed my life.

7 Best Money Books for Millennials

1. Financial Freedom: A Proven Path to All The Money You Will Ever Need by Grant Sabatier

Yes, this my book. After reading over 400 books on money I wrote Financial Freedom:A Proven Path To All The Money You Will Ever Need, because there is only so much you can put in a blog post. This is everything I learned and used to go from $2.26 in my bank account to a millionaire in 5 years.

While it’s written by a millennial for millennials, readers of all ages from all around the world have gotten value from it.

What would you do tomorrow if you didn’t have to work for money? You don’t have to have million of dollars in the bank to experience more freedom and have more time in your life for the things you love. How much money do you need? It’s likely a lot less than you think.

Money is infinite, but time is not. Become financially independent as fast as possible.

It’s an equal mixture of personal finance, investing, entrepreneurship, and life strategies. While the book is about how to reach financial independence as quickly as possible, it’s also about how to make more money in less time, and a lot more than that. I put my everything into this book and I’m confident you will get value from it.

Financial Freedom A Proven Path to All The Money You Will Ever Need
by Grant Sabatier
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Financial Freedom

2. Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Revised and Updated for the 21st Century by Vicki Robin

This book is legit – not just a book with a catchy title. If you read just one book on this list read “Your Money or Your Life” – especially if you have problems saving money. Most of your savings problems have to do with your relationship to money and can be easily fixed. This book in 9 simple steps shares how you can fix them.

It was written by personal finance pioneers Joe Dominguez and Vicki Robin and has been updated multiple times over the years. Some of the highlights include the opening discussion on how we all are placing a value on our life energy (time) for money.

This book will help you re-examine your job, your priorities, and how you think about money. It will also help you establish the precise habits that are essential to building wealth.

Your Money Or Your Life 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
by Vicki Robin
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Your Money Or Your Life

3. The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas Stanley & William Danko

I first read “The Millionaire Next Door” when I was 12 years old. Seriously. It was on my parent’s bookshelf and when I first started dreaming about becoming a millionaire millennial. You could also say it started my fascination with money and personal finance.

I was blown away to learn that most millionaires are the people that you don’t expect – they are more likely to live in modest houses and drive old cars.

The reason that they are millionaires is that they saved, invested, and live below their means. This book analyzes habits of millionaires so you can learn how to build them too. This book taught me a lot and I recently re-read it again almost 20 years later and it was even better than I remembered.

It has a lot of practical tips that you can start using immediately and will impact the rest of your life.

The Millionaire Next Door The Surprising Secrets of America's Wealthy
by Thomas Stanley & William Danko
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The Millionaire Next Door

4. The Only Investment Guide You’ll Ever Need by Andrew Tobias

Everyone should read “The Only Investment Guide You’ll Ever Need” – especially anyone in their 20’s or 30’s. This is the only book I have ever completed and then immediately started from the beginning and read it again. It’s that good.

I needed to read it twice because it is packed with so much great advice and I felt like I missed half of it reading the first time.

Author Andrew Tobias set out to write the only investment guide you’ll ever need and he did it. I have since bought copies and given them to tons of people who ask me “how can I make smarter money decisions”.

Although it was originally written 30 years it gets updated every 3 or 4 years to include up to date information – new website, tools, recommendations etc. It teaches you about everything you need to know about investing and making smart money decisions – saving, investing, insurance, taxes, how to save money shopping, and tons of other topics.

The advice is practical and all of author Andrew Tobias’ ideas are valuable. He’s also super funny which make the book easy to read – not like stupid funny, I literally laughed out loud more than few times.

The Only Investment Guide You'll Ever Need Everything You Need to Know About Investing and Making Smart Money Decisions
by Andrew Tobias
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The Only Investment Guide You'll Ever Need

5. The Bogleheads’ Guide to Investing by Taylor Larimor, Mel Lindauer, and Michael LeBoeuf

Most investing books are boring – this one isn’t and it’s full of tons of data based advice. If you read one book on investing read “The Bogleheads’ Guide to Investing“. This is especially true of millennials – since we are young enough to truly harvest the gains and power of compound interest.

The Bogleheads are a large group who follow the investment advice of Vanguard founder Jack Bogle – the pioneer of index fund investing. The foundation of the Boglehead strategy is instead of buying individual stocks – buy a small piece of every stock in the stock market.

That way you make money when the stock market goes up over time – and it almost always goes up over any 1o year period. Long term it is nearly impossible for any individual stock picker to consistently beat the market so investing in the entire stock market allows your money to grow as the market grows.

I personally put quite a bit of my long-term investment capital into index funds. This book explains the power of index funds and makes a compelling case for an investing strategy that is both practical and will make you money over time.

The Bogleheads' Guide to Investing A Practical Index Fund Investing Strategy
by Mel Lindauer, Taylor Larimor, & Michael LeBoeuf
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The Bogleheads' Guide to Investing

6. The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham

This book is a monster (649 pages), but if you want to invest in individual stocks then you need to read “The Intelligent Investor“. It is widely regarded as the best book on stock investing ever written and is the book that most influenced Warren Buffet and generations of successful value based stock investors.

It’s also an easy to read book that pretty much teaches you all of the fundamentals of stock investing. The real highlights how author Benjamin Graham shares his simple framework for evaluating the value of any stock and help you decide whether you should buy it.

The idea is pretty simple but profound – when you are investing in a stock you are actually investing in a small piece of a business and you should plan to invest in the business for a long time.

In order to maximize your chance of earning money, you need to try and understand the core elements of a business – what they sell, who they compete with and what they have that gives them a competitive advantage.

You also need to analyze their P/E (price to earnings ratio) and look for good values – low P/E ratios, strong fundamentals, and strong future profit opportunities. Finally, the goal of stock investing is to never lose money and following Benjamin Graham’s advice will decrease the chance that you will lose money.

Originally written in the 1940’s and updated regularly, The Intelligent Investor has made me a better and much more profitable individual investor.

The Intelligent Investor The Definitive Book on Value Investing
by Benjamin Graham
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The Intelligent Investor

7. The Millionaire Real Estate Investor

Buying my condo four years ago is the best financial decision I have made so far in my short investing life. It has increased over 70% in value over that time period and is the biggest driver of the net-worth growth. I’m hooked.

I believe there is a lot of money to be made in real estate if you buy good deals and this book teaches you how to find them. Written by one of the most successful realtors ever (Keller Williams founder Gary Keller), “The Millionaire Real Estate Investor” is an easy read with a ton of great tips for evaluating and buying properties.

This is by far the best book I have ever read on real estate investing. If you are planning to buy a house, condo, or investment property in the near future then you need to read this book. It is specifically written for new real estate investors and will help you learn the foundations for building and growing a profitable real estate portfolio.

I personally liked how the author profiles a wide variety of successful real estate investors (from 20 something to 50-year-old single moms) who all started small and built massive wealth from their real estate portfolios. The Millionaire Real Estate Investor is a practical, useful, and inspirational book. It teaches you how to make big real estate money.

The Millionaire Real Estate Investor Practical and Useful Ways to Make Big Real Estate Money
by Gary Keller
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The Millionaire Real Estate Investor

Other Top Personal Finance Books

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss

If you want to be an entrepreneur read this book! Tim Ferriss the author of “The 4 Hour Workweek” has singlehandedly launched the live anywhere digital nomad lifestyle. He’s the guru and this is the book that started it all.

This is a must for any Millennial – it’s written for us and will help you live a freer lifestyle. He covers many topics but at the core, this is the guide for becoming a 21st century digital entrepreneur where you make in the automated cloud.

Tim lays out how he built a more efficient lifestyle so he could run a high income generating drop ship automated business. He made millions of dollars and then wrote this book that made him millions more. Tim Ferris is a generational pioneer and you should listen to him.

This is a great choice for an audiobook – it’s got a lot of great energy. Learn how to build an online business from one of the field’s masters.

The 4-Hour Workweek Escape 9-5, Live Anywhere, and Join the New Rich
by Timothy Ferriss
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The 4-Hour Workweek

The Automatic Millionaire by David Bach

In this absolutely groundbreaking finance book, The Automatic Millionaire, David Bach outlines a simple strategy that anyone can follow to automate most of their financial life. When it comes to managing our finances we are often our own worst enemies, but it’s never been easier to use technology to do the heavy lifting with your money, saving you both time AND making you more money because you’ll always be investing.

A vast majority of your money life you can essentially put on auto-pilot, which is what Automatic Millionaire shows you exactly how to do. While I personally used and believe that a hybrid automated and manual approach is the best investing strategy, everyone should first set-up their “set it and forget it” automated foundation so you can easily save money without thinking about it.

Since this book was released, many 401(k) plans now automatically enroll you and make a certain contribution. Largely driven by the work of Nobel Prize Winning Economist Richard Thaler, automation is even more available than it was when David wrote Automatic Millionaire, making it even easier to automate your financial life.

Automatic Millionaire is hands down one of the best personal finance books. There’s a reason it’s sold upwards of 2 million copies.

The Automatic Millionaire A Powerful One-Step Plan to Live and Finish Rich
by David Bach
Get the Book
The Automatic Millionaire

The Simple Path to Wealth by J.L. Collins

As one of the best FIRE (financial independence retire early) books, the Simple Path to Wealth by J.L. Collins does not disappoint. While this is more of an investing strategy than a complete personal finance book, it fits well when read with Your Money or Your Life.

The book is largely based on the stock investing series that J.L. Collins offers on his website and is focused almost exclusively on index fund investing. But there’s also a no nonsense breakdown of how to adjust your investing strategy based on where you are in your career, including how to invest when you’re accumulating versus withdrawing money.

What I like most about the book is how he outlines the investing strategy in three distinct phases, focusing on your accumulation phase (when you are making money), growth phase (when you are growing money), and deployment phase (when you are using the money to live on).

If you are looking for a simple and sound investing book then definitely check out The Simple Path to Wealth by J.L. Collins.

The Simple Path To Wealth Your Roadmap to Financial Independence, and a Rich, Free Life
by J.L. Collins
Get the Book
The Simple Path To Wealth

I Will Teach You To Be Rich by Ramit Sethi

I Will Teach You To Be Rich is arguably the best personal finance book written in the past 10 years and a second edition of the book was just released. I first read the book a year into my financial independence journey at the age of 25 and immediately starting using some of his tips to negotiate more money from my clients.

Ramit can largely be described as the “Tim Ferriss of money” and his accessible writing style, as well as simple and actionable tips in I Will Teach You To Be Rich are largely focused on making more money. There’s a limit to how much you can cut back, but not a limit to how much money you can make.

What I like best about Ramit’s book is that it helped me shift my mindset from scarcity to abundance. I used to always save every single penny and manage every tiny aspect of my money very closely, but Ramit helped me realize that money is only tool and it’s worth spending on what you enjoy and saving on what you don’t.

If you really want a Tesla, then save up and buy one. Life is short and money should be enjoyed, not just saved. This was a big shift for me and I definitely recommend you check out I Will Teach You To be Rich.

I Will Teach You To Be Rich Life is short and money should be enjoyed, not just saved.
by Ramit Sethi
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I Will Teach You To Be Rich

Use These Personal Finance Books to Take Action

In addition to reading these books, you should also start tracking your finances for free (ASAP!)

What’s the best money book you’ve read?

Grant Sabatier

Creator of Millennial Money and Author of Financial Freedom (Penguin Random House). Dubbed "The Millennial Millionaire" by CNBC, Grant went from $2.26 to over $1 million in 5 years, reaching financial independence at age 30. Grant has been featured in The New York Times, Wall Street Journal, BBC, NPR, Money Magazine and many others. He uses Personal Capital to manage his money in 10 minutes a month.

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29 Comments
    Brian
    Posted Nov 06 2016
    The Millionaire Next Door is one of my favorites. It applied 100 years ago, applies today and will apply 100 years from now. A must read for anyone who enjoys having money. Thanks for sharing. -Brian
      Grant Sabatier
      Grant @MillennialMoney
      Posted Nov 11 2016
      Thanks Brian. I also really liked The Millionaire Mind - Thomas Stanley's other book.
    Evan @ My Journey to Millions
    Posted Nov 08 2016
    It isn't a money book exactly but I LOVED Snowball the Buffett biography. Shows his thought processes when it came to some of his deals
      Grant Sabatier
      Grant @MillennialMoney
      Posted Nov 08 2016
      I liked Snowball as well and learned a lot about Buffett reading it. You should also check out 'Titan: The Life of John D. Rockefeller,' by Ron Chernow if you haven't. I learned a ton about investing reading it.
    Christopher Schwab
    Posted Feb 20 2017
    #1 The Richest Man in Babylon #2 Beating The Street
      Grant Sabatier
      Grant @MillennialMoney
      Posted Feb 21 2017
      Both great books! Thanks Christopher.
    Erik @ The Mastermind Within
    Posted Mar 02 2017
    I love The Millionaire Real Estate Investor - a comprehensive book for people interested in real estate investing. It has worksheets and different exercises for you to gather your thoughts. I also read "How to Think About Money", that was an interesting one about the "personal" side of personal finance. Thanks for sharing Grant, have a good one!
      Grant Sabatier
      Grant @MillennialMoney
      Posted Mar 02 2017
      Thanks Erik.
    Mo
    Posted Mar 26 2017
    'EMyth' by Michael Gerber is great for anyone wanting to start a business. Richard Kiyosaki's 'Cash Flow Quadrant' is absolutely helpful if you want to understand what passive income is and why we all need to be making it!
      Grant Sabatier
      Grant @MillennialMoney
      Posted Mar 26 2017
      Thanks for sharing Mo. I've read E-Myth and thought it was great.
    Jim
    Posted Apr 26 2017
    rich dad poor dad stay mad for life
    DannyDan
    Posted May 03 2017
    I recommend The Millionaire Fastlane by MJ Demarco for everyone. Its the best book ever!
      Grant Sabatier
      Grant @MillennialMoney
      Posted May 04 2017
      Thanks Danny. I've never read it, but will definitely check it out.
    samantha
    Posted May 22 2017
    Thanks for the book recommendations. These are a solid foundation. I have to say I was a little put off at first by The Millionaire Nextdoor because this book relies on very old-school gender norms (the man earns the money, the woman does the shopping). Once I was able to listen beyond his very out-of-date perceptions of relationships and who earns the money in families and gender dynamics, I found the strategies and messages (BE FRUGAL!!!) very helpful.
      Grant Sabatier
      Grant Sabatier
      Posted May 22 2017
      Thanks Samantha.
    Matt
    Posted May 23 2017
    This is awesome, I finished an audiobook yesterday and started listening to 'Your Money or Your Life' because of this post. Thanks for sharing!
      Grant Sabatier
      Grant Sabatier
      Posted May 24 2017
      Nice. I love YMOYL.
    Joe
    Posted Jul 12 2017
    Not a traditional money book, but I loved 'The Power of Habit'. When you really think about it our lives are a series of habits. Having good habits can be the difference between financial freedom and living paycheck to paycheck,
    Mark F
    Posted Sep 17 2017
    I love finding new great books to read, I have 3 of these and my favourite is the 4 hour week. Going to get the others on audio if available. Although not a new book I still love - Think and grow rich. It's an awesome book that everyone should read. (IMO) Thanks
      Grant Sabatier
      Grant Sabatier
      Posted Sep 18 2017
      Cool. Yeah 4 Hr Work Week and Think And Grow Rich are both awesome.
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    Rohit Gandrakota
    Posted Jul 26 2019
    My favorite is millionaire fastlane. I'm surprised that it's not mentioned here.
      Grant Sabatier
      Grant Sabatier
      Posted Jul 29 2019
      It's a great book. Thanks Rohit.
    Robert
    Posted Aug 06 2019
    While I'm also a big fan of Ben Graham's book it seems that the strategy is at odds with the Andrew Tobias book, no?
      Grant Sabatier
      Grant Sabatier
      Posted Aug 08 2019
      I agree they're different approaches, which is why I like and recommend both books!
    Jon Snedeker
    Posted Aug 20 2019
    These are some heavy hitting books! I've read several myself and definitely agree. Thanks for providing some great value in this article Grant! Gary Keller is absolutely brilliant with that Real Estate Investing Book, breaks it down so seamlessly.
    Baillie Smith
    Posted Sep 05 2019
    These are awesome books to read I'll definitely get some for myself. I really need to improve my money making skills this year. Thanks for this wonderful list.

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