Over the last few months I have been reading books on budgeting, saving and investing money in hopes of educating myself further in these three financial fields. I have been budgeting my money on my life and saving only in the last few years but investing is something that I started less than 10 years ago. Would you believe that I invested in single stocks with zero knowledge on the Stockmarket? I was fortunate that at work we had financial advisors who talked to us about giving up a percentage (1-10%) of your pay to invest in the company.
When it came to budgeting, it is something I had seen my mother do all my life so it wasn’t too hard for me to replicate in my own home. Obviously, I did make financial mistakes along the way when I dropped the ball on managing my finances but we all learn from our mistakes. And for many years I thought on my low wages at that time that there was no way I could possibly manage to save even £10. But after educating myself on how to manage money, I was able to find a way to enjoy my life, pay off my debt and still have money to save.
Books on Budgeting, Saving and Investing Money
As an avid reader, I have been finding myself digging into genres that I wouldn’t normally read but because I want to educate myself I picked up books on budgeting, saving and investing money. These are not the typical books I would normally pick to read but I am so glad I deviated from my usual fictional books and focused on something I could actually implement in my day to day life. These books have been an eye opener and I have learned a lot about investing, improved my budgeting and implemented new ways to save money.
Over the last few weeks I have been sharing loads of posts on money management and saving because its a topic I am so passionate about. I love sharing the tips that I have learned over the years, learning from others and understanding how I can best manage my money and have enough money for my retirement. When I shared the 5 international Best-sellers, one of my favourite books is include in this post ‘Millionaire Teacher’, I felt so empowered when it came to investing and I implemented some of the teachings in the book.
The books I share in this post can be found on Amazon and GoodReads.
The Millionaire Next Door
This is an incredible book written by two academics who spent many years researching the lives of the affluent (rich), how they became rich and their spending habits. Most of us have been conditioned to think that millionaires are the biggest spenders out there but that is far from the truth. The affluent are the most frugal people ever and the millionaires that are normally big spenders are those who almost always inherited their wealth.
I was shocked to learn that millionaires don’t often live in mansions, don’t splurge on expensive BMWs and instead prefer to buy second hand Mercedes or Fords, live in good neighbours and are the most frugal people ever. In the book they talk about UAW (under accumulators of wealth) who are the people that often we are shown by the media as ‘the wealth’ spenders but actually they have more debt that you can imagine, sure they earn a high salary but their next worth is actually lower for someone their age earning what they earn.
All Your Worth – the Ultimate Lifetime Money Plan
This has to be one of my favourite budgeting and saving books ever and its one I am currently working through and hope to finish reading soon. This book is written by a mother-daughter duo and they are the creators of the 50-30-20 rule on managing your money. In the book they teach you how to allocate 50% to your must haves i.e your mortgage or rent, utilities and the like, allocate 30% to your wants so these are things that you want to splurge on every now and again and then 20% to your savings.
The book is so insightful and as you ago along it takes you on a journey of self discovery giving examples of real people with real financial problems and those who think they don’t have anything too allocate to savings. They teach you to shop around for insurances, credit cards (if is not a debt) and much more. I highly recommend this book to anyone struggling with budgeting, needs to try formulas that actually work and enjoy a financial balance.
If you can – how millennial can get rich slowly
Written by Willian Bernstein a retired neurosurgeon and financial theorist who is one of the most respected investment advisors who shares 5 financial hurdles in his book ‘if you can’. This tiny book is made up of less than 40 pages but will take you months to read, I know it sounds impossible but actually each of the 5 sections he recommends books you should read before progressing to the next section.
Everyone wants to get rich quick but Bernstein teachers millennial a different way of becoming rich over a long period of time through investments. I am still on section two of the book (I have read of the sections but gone back because each section needs to be reads with the recommended book) and its been 2-months already. The book he recommends first is ‘The millionaire Next Door‘ which is the book I have mentioned above and the second book is Bogle’s ‘Common sense on mutual fund‘s which I am yet to read.
The Little Book of Common Sense Investing
Written by John C. Bogle, this little book contains 270 pages filled with advice not only from Bogle but other investors, mutual fund managers and more. Each section is filled to the brim with advising on investing, the right way to invest, the history of the Stockmarket, what they Stockmarket has shown in the past and how to be a good investor. Some of the information I obtained from this book has set me on a correct path with respect to my investments.
John C. Bogle is the founder and former chairman of the Vanguard Group which is an investment firm that I invest with and is one of the best firms out there. The book requires all your strength and focus and a re-read especially if you are not financially savvy or familiar with the world on investing. I am still learning and I have picked up so many tips already I can not wait to read how other books. As a young investor I think its prudent to learn about the Stockmarket instead of jumping in head first.
The Millionaire Teacher
The Millionaire teacher is one of those feel good books that gives you a full account of how someone on a teacher’s salary became a millionaire. Andrew shares is story from when he started, how he got to where he is and some of the financial mistakes he made along the way. It wasn’t always an easy ride it took a lot of work, dedication to his cause and being smart with his money. I found myself smiling along as I read the book because him and I are (or were when he wrote the book) on the same wavelength when it comes to investing.
Even now I still refer back to his book, I love that he didn’t just focus on investing for Americans but include Brits as well which made it more relatable and easily digestible. I found the book easy to read, his website has a resource of information about investing and he offers consultations for those who need help with managing their investments. Highly recommend giving it a read whether you are a novice investor or an expert.
And there you have it, the books on budgeting, saving and investing that I am currently reading or have recently read to educate myself on how I can best manage my money and how I can invest for my future.
anas says
never heard of these books. The idea of budgeting appeal to many, especially these days, Thanks
ebonynrobinson says
These reads look great! I just downloaded Millionaire Next Door, so I’m so glad this is on your list! Saving this post so I can try your other recommendations!
Cindy says
I’ve read The Millionaire Next Door and it was great. I’ll definitely check out this list.
Amy says
What fantastic resources. times have been tough in the last year so anything to help in this department is great. Love the 50-30-20 rule. Seems so simple yet when someone puts it like that, you don’t think about it. Love the one about millennials too. Need to get my kids on that ASAP!
Ronnie Epsi says
I need some major help with my investments so I would be happy to read the ‘The Little Book of Common Sense Investing’. Thanks for the great suggestion!
Monidipa Dutta says
I havent read any of these books, but they are interesting. I will check them out!
Nikola Roza says
The best money book for me is “Money- Master the Game” by Tony Robbins. I love that book!
But I do need to educate myself further on the topic.
Thanks for these recommendations.
Bryan says
There is no shortage of good books on this subject! The Millionaire Next Door is one of the most- read on the topic and it’s still going strong, many years after its release. I can remember reading it when it first came out.
Elizabeth O says
These all sound like must-read books. Understanding money and how to make it work for you is so important.
April says
I need to put all of these books on my reading list. The more knowledge you have the better when it comes to money.
emman damian says
I think I should read about this book. Maybe I can get a tip or two. I really need to budget wisely especially during the pandemic.
Nicole Anderson says
A great list of choices you have shared here. I must admit I got a lot of value from The Millionaire Next Door when I first read it many years ago. It really does explode many myths people have about the average millionaire and the culture, habits and learnings of self-made millionaires. A must-read for anyone wanting to be serious about what it takes to accumulate real wealth.
Kita Bryant says
These are great books to have in the collection. These are very important things to know.
Jona Shares says
Adulting is very hard and learning about are finances is one of the first things that we need to focus on. It will be hard to digest the details at first but I guess this will be a great learning experience. I am now ready to learn more about managing my finances. Thanks for sharing these books that we can read on. Investing and dedicating time to read will be added to my goals this year.
Rebecca Smith says
These sound like some books that I would really find interesting! I have literally just started investing so am reading any and all content I can about it! I may have to order some of these.
Beth says
Thank you so much for sharing these, definitely want to add a few to my reading list.
forkwardthinkingfoodinista says
There are some good reading suggestions here, I may have to try reading one of these x
Catalina says
I love books that make me grow and I can improve myself and my life. Thanks for sharing your experience.
Marysa says
We are working towards better finances. I will definitely have to check these out, as they all sound like great resources.
dear bear and beany says
My first job was in a bank and it gave me a great understanding of saving and investing my money.
Kathy says
I may have to check out some of these books. I do love to read, and I like to learn from it too. I love saving and budgeting, so I’m sure I’d love these.
Kara Guppy says
I honestly think they should teach money managements in schools, it would really help a lot of kids. These books sound interesting
Sabina Green says
These books sound super useful. I was very pleased to hear that my daughter’s teacher (year 8) has been teaching them about the importance of budgeting.
Sarah Stockley says
These sound very useful. I used to have an ISA when I was younger but once I had kids I withdrew the money and stopped saving due to decreased income. I have just got back on top of things and would love to start saving again.
Rhian Westbury says
I’ve not read any of these books, but one of my favourites is Money: A users guide by Laura Whateley as it’s a good overview and touches on lots of aspects of money and saving, plus as it’s modern it feels really relatable and the information is very practical x
Samantha Donnelly says
I have never read a book on budgeting before, maybe I should look at one of these they might give me some tips
Tasheena says
Looking forward to checking out some of these books, they sound like amazing reads.
Nikki Wayne says
I could definitely learn something from these books. Thanks for sharing about them.
Heather says
I need all of these books! We are in the process of buying a house and I need all the help I can get so we can get our finances in order.
simplysensationalfood says
These books sound like something we should all be reading to improve our financial knowledge.I will check them out.
Beth says
These sound like great books. Financial security can give you peace of mind. I’ll recommend them to my kids.
Amber Myers says
I need to check these out. I have been wanting to learn more about investing. I do know how to save at least!
Melissa Chapman says
Money and investing is one thing I do not know a lot about. My husband handles our affairs but these books are a great place to start so I can check up on our finances too.
clairelomax2018 says
Honestly, I think I get most of my financial advice from you! You should write a book.
Books are such a source of information though and although I tend to lean towards fiction, I have no doubt these will be really useful x