Best Personal Finance Books for Young People

Home » Productive Work » Personal Development » Best Personal Finance Books for Young People

Have you ever thought about understanding personal finance for young adults? It is vital that know how to manage your personal finance. There are good personal finance books for young adults, making 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, etc.

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. First, you’d have to decide how you want to gather the needed funds. Would you be saving up for it, earning money by gaining employment (without a degree), 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. So let’s explain the 50/30/20 spending plan to help you better grasp 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 suitable 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. So 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 a country’s population becomes financially secure, the economy of that country gets a boost. This is why financial illiteracy should be tackled starting as low as high school.

Personal Finance Facts and Statistics

Let’s 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 a low probability for those who didn’t reach a high level of literacy in their younger days to have a retirement plan. However, their chances 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:
    • First, 5% thought that teaching should begin from tertiary school.
    • Second, 32% chose high school.
    • Third, 33% thought it should be from middle school.
    • Finally, 30% selected elementary schools.

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. I Will Teach You to Be Rich

by Ramit Sethi

Best on Positive Worklife’s List of Financial Books for Young Adults

This personal finance book for high school students was selected because of its high rating, suitability for beginners in 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 the 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

2. Broke Millennial

by Erin Lowry

Best among Budgeting Books for Young Adults

This choice product from the many budgeting books in the market was included because the author discusses money management concerning being a college student, being in a romantic relationship, etc.

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 on Amazon

Amazon Rating: 4.7/5

Amazon Customer Reviews

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

Main Topics

  • Money
  • Student loans

3. What You Should Have Learned about Money but Never Did

by Sophia Bera

Best among Financial Books for Teens Close to their 20s

This was included on the list of financial books for teens because it’s excellent 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 on Amazon

Amazon Rating: 4.4/5

Amazon Customer Reviews

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

Main Topics

  • Financial goals
  • Debt repayment
  • Savings

4. The Early Investor

by Michael Zisa

Best among Financial Books for Young Adults for Investing

This was selected as one of the financial books for teenagers on our list because the author explained complex investment concepts that are 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)
Check the latest price on Amazon

Amazon Rating: 4.5/5

Amazon Customer Reviews

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

Main Topics

  • Investment
  • Financial planning

5. Rich Dad Poor Dad for Teens

by Robert Kiyosaki

Best among Beginner Personal Finance Books for Teenagers

This was chosen as one of the best financial books for teenagers because of the holistic method the author took in his explanations and 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 on 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

6. Clever Girl Finance

by Bola Sokunbi

Best among Books on Money Management for Young Females

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 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 on Amazon

Amazon Rating: $4.7/7

Amazon Customer Reviews

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

Main Topics

  • Mindset and personal growth
  • Spending habits

7. Why Didn’t They Teach Me This in School?

by Cary Segel

Best among Money-Saving Books for Young Adults

Positive Worklife chose this book because it offers many 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)
Check the latest price on Amazon

Amazon Rating: 4.5/5

Amazon Customer Reviews

  • “Great for teens.”
  • “Gold.”

Main Topics

  • Lifelong financial health
  • Life planning skills

8. Dear Debt

by Melanie Lockert

Best among Finance Books for Teenagers on Debt Management

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 on Amazon

Amazon Rating: 4.8/5

Amazon Customer Reviews

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

Main Topics

  • Debt management
  • Student loans

9. I Want More Pizza

by Steve Burkholder

Best among Financial Books for Young Adults for Easy Development of Financial Literacy in Pre-teens up to Adulthood

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 accessible introduction to 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 on Amazon

Amazon Rating: 4.6/5

Amazon Customer Reviews

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

Main Topics

  • Savings
  • Debt

10. Work Optional – Retire Early the Non-Penny-Pinching Way

by Tanja Hester

Best among Finance Books for Teenagers on Thinking about Early Retirement

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 on 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:

Other Ways to Learn Personal Finance

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

Online Courses on Personal Finance

Take a look at three online courses that will serve similar purposes as personal finance books for young adults 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.

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 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 readers for young adults, budgeting books for young adults, money-saving books, etc. 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 to set aside some money to save.
– A personal finance book for high school students can help you budget 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 significant amount and enjoying the accumulating interest.

Related Articles:

Conclusion

The personal finance books for young adults given earlier should set you on the right path towards financial independence. Indeed, you found suitable finance books for teenagers, money-saving books, budgeting books for young adults, etc. 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.

Photo of author

Kalpataru Biswas

Kalpataru Biswas is a writer with a focus on business and career-related subjects. He has been writing for various websites since 2018 and has more than ten years of experience in driving revenue through data-driven Sales & Marketing.

Join the Newsletter

Subscribe to get our latest content by email.
    We respect your privacy. Unsubscribe at any time.