Best Personal Finance Books for Young Adults

Best Personal Finance Books for Young Adults
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Have you ever thought about the need to understand personal finance for young adults? It is important that know how to manage your personal finance. There are good personal finance books for young adults which can make it easy.

We’ll be providing you with a carefully selected list of the top personal finance books for young adults in this post along with discussions about personal finance, its importance, and so on.

What Is Personal Finance?

Personal finance (for young adults) is a concept that involves money management given short-term financial goals/objectives or a lifetime of financial security. Some or all of the following would come to mind:

  • Spending plans
  • Using banks
  • Having savings
  • Becoming an investor
  • Insuring
  • Mortgaging
  • Planning for retirement
  • Paying taxes
  • Estate planning

An example can be seen in the need to have enough money to pay for your college education. You’d have to decide on how you want to go about gathering the needed funds. Would you be saving up for it, earning money by gaining employment (without a degree) or starting a business, or getting a student loan?

Personal Finance Examples

We gave an example in the last subheading on what personal finance for young adults is all about, but it wouldn’t be a bad idea to add one more to this guide. Let’s explain the 50/30/20 spending plan to help you have a better grasp of what personal finance for young adults entails.

The 50/30/20 strategy means that 20% of your net income/salary/wage would be set aside for savings and settling debts. 50% would be used to pay for necessities like food, house bills, transportation, etc. Lastly, 30% can go to clothing, being charitable, eating out, and other optional spending decisions.

Importance of Learning Personal Finance

In a 2019 study, it was discovered that a third of the children had the desire for their parents to talk to them regarding money. Given that, it’s only right that there should be learning opportunities concerning financial matters available for kids in schools and homes. Check out the importance of personal finance books for young adults below.

  • We simply can’t live without a medium of economic exchange (money), especially in an urban center. Learning about it is key to understanding how best to use it.
  • Financial matters are very significant in our daily lives. The lack of money can lead to unending troubles, lack of peace of mind, and stress. Learning about personal finance or reading books on money management can help you attain financial security. This will in turn lead to positive well-being.
  • When a significant percentage of the population of a country becomes financially secure, the economy of that country would get a boost. This is why financial illiteracy should be tackled starting from as low as high school.

Personal Finance Facts and Statistics

Let’s take a look at some personal finance facts and statistics before we finally get to our long-awaited list of personal finance books for young adults. See 5 of them below.

  • A study showed that the parents of a little over 70% of the respondents keep worrying about their finances.
  • Another one concluded that there is a high probability for those who reached a significant level of financial literacy in their teens to develop a saving habit.
  • One survey showed that there’s a low probability for those who didn’t reach a high level of literacy in their younger days to have a retirement plan. The chances for them to owe a lot in their later years are high.
  • Almost 65% of the respondents in a study believed that personal finance should be a school subject.
  • In a study on the percentage of people that wanted personal finance to be taught at certain stages of formal education, the following were the results:
    • 5% thought that teaching should begin from tertiary school.
    • 32% chose high school.
    • 33% thought it should be from middle school.
    • 30% selected elementary school.

Best Personal Finance Books

You’re about to see a list of books on money management which comprises financial books for young adults, finance books for teenagers, money-saving books, budgeting books for young adults, etc. Go through the following list of top personal finance books for young adults:

#1 on Positive Worklife’s List of Financial Books for Young Adults: I Will Teach You to Be Rich (Second Edition) by Ramit Sethi

This personal finance book for high school students was selected because of its high rating, suitability for beginners in the world of financial management, compatibility with all age groups, and low price.

Blogger/Critics Comments

  • “A great book for older teenagers . . .”
  • “The groundbreaking NEW YORK TIMES and WALL STREET JOURNAL BESTSELLER . . .”

Amazon Price: $7.41 (paperback)
Check latest price on Amazon

Amazon Rating: 4.7/5

Amazon Customer Reviews

  • “Great book . . .”
  • “This book changed my life . . .”

Main Topics

  • Financial responsibility
  • Student loans
  • Debt management

#1 among Budgeting Books for Young Adults: Broke Millennial by Erin Lowry

This choice product from the many budgeting books that are in the market was included because the author discusses money management in relation to being a college student, being in a romantic relationship, and so on.

Blogger/Critics Comments

  • “. . . a must-read for young adults.”
  • “. . . step-by-step how to go from flat-broke to financial badass.”

Amazon Price: $12.75 (paperback)
Check the latest price at Amazon

Amazon Rating: 4.7/5

Amazon Customer Reviews

  • “Great for beginners . . .”
  • “Loved this book!!”

Main Topics

  • Money
  • Student loans

#1 among Financial Books for Teens Close to their 20s: What You Should Have Learned about Money but Never Did by Sophia Bera

This was included on the list of financial books for teens because it’s great for those in their late teenage years who want to know how to establish financial goals.

Blogger/Critics Comments

  • “Best suited for older teens . . .”
  • “. . . basic money principles that you were supposed to learn but never did . . .”

Amazon Price: $4.99 (Kindle)
Check the latest price at Amazon

Amazon Rating: 4.4/5

Amazon Customer Reviews

  • “Introductory book for millennials . . .”
  • “Clear, practical . . .”

Main Topics

  • Financial goals
  • Debt repayment
  • Savings

#1 among Financial Books for Young Adults for Investing: The Early Investor by Michael Zisa

This was selected as one of the financial books for teenagers on our list because the author made the explanations of complex investment concepts easy to grasp for young people—even those in their early teens.

Blogger/Critics Comments

  • “The book that started the investing revolution for teenagers and young adults!!”
  • “. . . an excellent read for any motivated young person . . .”

Amazon Price: $15.95 (paperback)
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Amazon Rating: 4.5/5

Amazon Customer Reviews

  • “Great for all ages.”
  • “Handy Resource.”

Main Topics

  • Investment
  • Financial planning

#1 among Beginner Personal Finance Books for Teenagers: Rich Dad Poor Dad for Teens by Robert Kiyosaki

This was chosen as one of the best financial books for teenagers because of the holistic method the author took in his explanations, as well as his humor and perceptiveness.

Blogger/Critics Comments

  • “Packed with straight talk . . .”
  • “You’re never too young to learn the language of money . . .”

Amazon Price: $6.72 (paperback)
Check the latest price at Amazon

Amazon Rating: 4.4/5

Amazon Customer Reviews

  • “Good content . . .”
  • “It’s Really Good.”

Main Topics

  • The money habits of the wealthy.
  • Discovering business opportunities
  • Goal setting

#1 among Books on Money Management for Young Females: Clever Girl Finance by Bola Sokunbi

This was chosen as one of the best books on money management because of its focus on young women and the pleasantness of the writing style that’s suitable for females.

Blogger/Critics Comments

  • “. . . reads like a companionable book . . .”
  • “Join the ranks of thousands of smart and savvy women . . .”

Amazon Price: $16.67 (paperback)
Check the latest price at Amazon

Amazon Rating: $4.7/7

Amazon Customer Reviews

  • “Informative, helpful and inspiring . . .”
  • “Excellent Book!”

Main Topics

  • Mindset and personal growth
  • Spending habits

No. 1 among Money-Saving Books for Young Adults: Why Didn’t They Teach Me This in School? by Cary Segel

Positive Worklife chose this book because it offers a good number of principles that are great foundations for money-saving practices.

Blogger/Critics Comments

  • “Bestselling 5 Star Graduation Gift . . .”
  • “Siegel is excellent at writing for the young reader.”

Amazon Price: $10.75 (paperback)
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Amazon Rating: 4.5/5

Amazon Customer Reviews

  • “Great for teens”
  • “Gold.”

Main Topics

  • Lifelong financial health
  • Life planning skills

No. 1 among Finance Books for Teenagers on Debt Management: Dear Debt by Melanie Lockert

This was listed as one of the financial books for teens because of the way the author discussed debt on a light note which will surely resonate with the target readers. Another reason is its high rating on Amazon.

Blogger/Critics Comments

  • “Melanie shares her personal experience . . .”
  • “Melanie provides a wealth of money-saving tips . . .”

Amazon Price: $12.99 (paperback)
Check the latest price at Amazon

Amazon Rating: 4.8/5

Amazon Customer Reviews

  • “Wonderful and insightful journey . . .”
  • “Inspiring and motivational . . .”

Main Topics

  • Debt management
  • Student loans

No. 1 among Financial Books for Young Adults for Easy Development of Financial Literacy in Pre-teens up to Adulthood: I Want More Pizza by Steve Burkholder

This is a great personal finance book for high school students since it’s written to be a fun read with well-arranged sections for an easy introduction to the world of personal finance—as you grow from your pre-teen years to adulthood.

Blogger/Critics Comments

  • “The pizza model for learning personal finance.”
  • “The book includes an engaging introductory section . . .”

Amazon Price: $8.95
Check the latest price at Amazon

Amazon Rating: 4.6/5

Amazon Customer Reviews

  • “A smart way to introduce Personal Finance . . .”
  • “Great for teens.”

Main Topics

  • Savings
  • Debt

#1 among Finance Books for Teenagers on Thinking about Early Retirement: Work Optional – Retire Early the Non-Penny-Pinching Way by Tanja Hester

You’re seeing this on the list of financial books for teens because it explains how you can attain financial independence and be on your way to retiring early as a young adult.

Blogger/Critics Comments

  • “. . . this book explains how early retirement is a possibility. . .”
  • “. . . it’s a plan for your whole life . . .”

Amazon Price: $13.79 (paperback)
Check the latest price at Amazon

Amazon Rating: 4.4/5

Amazon Customer Reviews

  • “Authoritative and approachable.”
  • “Great 3-part book . . .”

Main Topics

  • Partial retirement
  • Early retirement
  • Career breaks

Watch this YouTube video to see more financial books for teenagers:

Top 10 Financial Books For Teens: Investing 101 and Personal Finance

Other Ways to Learn Personal Finance

We’ll describe 3 courses from Teachable, Coursera, and Udemy which are related to personal finance. Articles from Positive Worklife will also be mentioned.

Online Courses on Personal Finance

Take a look at 3 online courses which will serve similar purposes as personal finance books for young adults would below.

Description: This is a great course that teaches you the world of investment from scratch, and it’s ideal for those that know nothing about investing.

Description: Students will know how to make spreadsheets on LibreOffice to aid in calculating their periodic expenses.

Description: You’ll learn how to handle money, gain financial freedom, earn more, invest, and settle student loans.

Actionable Articles

Take a look at 3 posts that will serve similar purposes as personal finance books for adults would below.

Description: This article will let you know what’s in store for you when looking for certain content marketing jobs that can earn you money.

Description: This article helps you build critical thinking skills that you can apply to personal finance management.

Description: This section on the site has many tools and sites that you can utilize in some areas of financial management. An example of one of such sites is ShareASale.

FAQs

How Can I Improve My Money Management Skills?

See the following tips on improving your money management skills:

  • Keep track of how you spend.
  • Budgeting should be done based on realistic projections depending on how much you earn or how much you have as savings.
  • Don’t stop reading finance books for teens, financial books for young adults, budgeting books for young adults, money-saving books, and so on. This is part of lifelong learning.

How Can a Teenage Book Save Money?

Check the following points if you want to know how a personal finance book for high school students or a book on personal finance for young adults can save money:

  • Money-saving books can teach you how to cut back on expenses so that you can set aside some money to save.
  • A personal finance book for high school students can help you in budgeting by giving you a formula for saving a percentage of money earned. For example, the 50/30/20 approach we discussed earlier.
  • Financial books for teenagers will show you how best to save money using a bank. For example, long-term saving of a big amount and enjoying the accumulating interest.

Conclusion

The personal finance books for young adults given earlier should set you on the right path towards financial independence. Surely, you found suitable finance books for teenagers, money-saving books, budgeting books for young adults, and so on. They’re some of the most enlightening books on money management that you can read as a youth or if you’re single in marital status.

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By Kalpataru Biswas

Kalpataru is a Software Sales, and Product Marketing professional. He writes on business development, personal development, personal finance, and career development. He has more than 10 years of experience in driving revenue through data-driven Sales & Marketing.

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