13 Books That Make Investing and Money Management Much Easier to Understand
If you're a newbie at investing like me, you might have felt beyond overwhelmed. You had countless friends and family try to explain it to you but investing and the stock market are as confusing trying to understand Inception. You probably found yourself asking, "What and/or who is the DOW?, What's an ETF? Are those the same as mutual funds?, How do I even start investing?, This feels like gambling," and countless more. I know I did. You even found yourself on #StockTok and watching countless YouTube videos telling you what's right and what's wrong, with so much conflicting information.
Let's start with the basics, with what investing is all about, why you should care, and how it relates to financial independance. I found 13 books on investing and money management that breaks things down and makes it all digestible. These books are from authors of all different backgrounds, including classics like Rich Dad Poor Dad by Robert T. Kiyosaki, and new favorites like Broke Millennial Takes on Investing by Erin Lowry. Grab a cup of coffee or tea, curl up in a comfy spot, and start 2021 off right, making money moves.
The Intelligent Investor: The Definitive Book on Value Investing by Benjamin Graham
One of the world's greatest investors, Warren Buffet endorses The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel ($14). Learn all about the philosophies of value investing and develop long-term investement strategies, which for a beginner is imperative. It's been even coined as a stock market bible!
Broke Millennial Takes On Investing: A Beginner's Guide to Leveling Up Your Money by Erin Lowry
As a part of the Broke Millennial series, the Broke Millennial Takes On Investing: A Beginner's Guide to Leveling Up Your Money ($13) specifically focuses on investing rather than an overall money management guide. This is your go-to guide for learning the terminology and what it means to invest as a millennial in today's environment and concerns.
Clever Girl Finance: Learn How Investing Works, Grow Your Money by Bola Sokunbi
From the creator of the successful Clever Girl Finance online platform, Bola Sokunbi's Clever Girl Finance: Learn How Investing Works, Grow Your Money ($15) teaches you how to invest for long-term financial gain. It's a no-nonsense guide with plenty of ancedotes and advice for women, including how to build long-term wealth on a modest salary.
The Behavioral Investor by Daniel Crosby
If you're fascinated about the "why" behind investing The Behavioral Investor ($25) is a must-read. This book looks at investing from a psychological perspective. It examines the behaviors of investors so you can learn to think like one and understand the underlying reasonings behind their decision-making tactics. It's a holistic approach to investing and not just for beginners.
The Financial Diet by Chelsea Fagan and Lauren Ver Hage
If you've looked up money management videos on YouTube, you've probably come accross The Financial Diet. The Financial Diet: A Total Beginner's Guide to Getting Good with Money ($13) is the resource meant for people who need a holistic approach to money management. This book not only goes into investing but also how to build a budget-friendly kitchen, how to take care of your home like a grown up, how to talk about money with friends, and so much more. This book is your go-to-guide for all things #adulting.
I Will Teach You to Be Rich by Rami Sethi
Remember when every finance publication stated that milennials are not as well off because we spend too much on avocado toast and Starbucks? Well, Ramit Sethi says that's bullsh*t. We can have our cake and eat it too but with certain strategies in place. I Will Teach You to Be Rich ($9) is literally that. It even has word-for-word scripts on how to talk your way out of late fees.
The Psychology of Money by Morgan Housel
The Psychology of Money: Timeless lessons on wealth, greed, and happiness ($16) takes a holistic approach to general money management. The book does a deep-dive into behavior with 19 short stories exploring the strange ways people think about money. Money, business, and investments is not all about math, it's about behvaior.
The Simple Path to Wealth by J L Collins
The Simple Path to Wealth: Your road map to financial independence and a rich, free life ($15) is a series of letters that the author wrote to his daughter all about money and investing. This resource is a great read for parents and their young-adult kids alike! From demistifying the stock market to simplifying 401(k), 403(b), TSP, IRA and Roth accounts, this book has got your covered.
Rich Dad Poor Dad by Robert Kiyosaki
The classic Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! ($9) is a great read for investors of all ages! If "work smarter not harder" was a book, it is this! The basis of Rich Dad Poor Dad is how the author grew up with two dad's - one rich, one poor - and what money lessons he took from both of them.
The Index Card by Helaine Olen and Harold Pollack
There are ten simple rules for investing and money management and they can all fit on an index card. The Index Card: Why Personal Finance Doesn't Have to Be Complicated ($13) does a deep dive into those ten rules and how you can take control of your finances. It even comes with an easy-to-follow action plan.
The Essays of Warren Buffett: Lessons for Corporate America by Lawrence A. Cunningham
Learn from one of the greatest investors of our time with The Essays of Warren Buffett: Lessons for Corporate America ($31). Warren Buffett shares his perosnal philosphies on investing that both new and experienced readers will enjoy.
On My Own Two Feet by Manisha Thakor and Sharon Kedar
From paying off your student loans to budgeting for your future wedding, On My Own Two Feet: A Modern Girl's Guide to Personal Finance ($10) makes personal finance interesting. Written by two Hardvard Business School graduates, the book simplifies financial goals from every-day saving, to investing for big-ticket items, long-term goals, and retirement.
Bad with Money: The Imperfect Art of Getting Your Financial Sh*t Together: by Gaby Dunn
Money management and investing doesn't have to feel like a lecture. Gaby Dunn's comedic take with Bad with Money: The Imperfect Art of Getting Your Financial Sh*t Together ($10) is a fantastic resource that's also entertaining. The book makes money and personal finance digestable and relatable, we all have to start somewhere! Gaby Dunn also has a podcast called Bad with Money.