Looking for some inspiration to get your finances or your investments back on track? These eight personal-finance classics, as judged by Goodreads reviewers, cover everything from getting your finances in shape to investing basics to the more sophisticated. While one book was published nearly seven decades ago, half of the list first came out in the first decade of this century.
For those looking for a list of newer books, turn to “These 8 are the best money books published in 2017”[1], also as judged by Goodreads reviewers.
“The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas J. Stanley and William D. Danko
The authors’ message[2] is pretty straightforward. Live below your means. Invest. Your neighbor’s flashy car and ostentatious home don't always signal a fat bank account.
This book was first published in 1996, so its twist on not keeping up with the Joneses is no longer surprising. Some critics say the book is dated and repetitive, and time is better spent reading some blogs on financial independence.
But this one-star review from Linda Terblanche[3] shows even the naysayers found value in reading it. While she called the book “stupid,” she concluded that it “did make me evaluate my lifestyle and spending habits. Which is obviously a good thing. And I will be giving a copy of this book to a few people as birthday gifts. Begrudgingly.”
MarketWatch’s Philip van Doorn offers his own praise of the book[4] — and suggests it makes a great gift for someone seeking financial security.
Overall, Goodreads reviewers give it an average rating of 4.01 out of 5. While that’s not the highest score on this list, it did get the most reviews.
“The Total Money Makeover: A Proven Plan for Financial Fitness” by Dave Ramsey
Here’s how you start on Dave Ramsey’s seven-point plan. One: Create a $1,000 emergency fund. Next: Pay off debt, starting with the smallest amount.
This book[5], first published in 2003, offers entry-level financial advice that has resonated with many.
“Sound advice, a good dose of the cold hard truth, and a very personable voice,” writes Royaevereads[6], who gives it five stars.
But a reviewer named Chelsea[7] found it too full of self-promotion, given how often Ramsey gives shout-outs for his other books and live events. “This was written so gimmicky and like a used car sales person’s pitch,” she writes in her one-star summation.
Overall, though, Goodreads readers rate it highest of all the books on this list — 4.29 out of 5.
Read: How ‘Badass’ author Jen Sincero went from living in a garage to being rich[8] ...