Top 5 Must-Read Personal Finance Books for Young Adults in 2021
Personal finance is an important aspect of adulting, but it’s not something that’s taught in schools. Most young adults learn about it on their own as they navigate the real world. Unfortunately, some financial mistakes can be costly and take years to fix. Fortunately, there are personal finance books that can help young adults make informed financial decisions.
In this article, we’ll look at the top 5 must-read personal finance books for young adults in 2021. These books cover a wide range of personal finance topics, from budgeting and investing to paying off debt and building wealth.
1. “The Total Money Makeover” by Dave Ramsey
“The Total Money Makeover” by Dave Ramsey is a classic personal finance book that has helped thousands of people get out of debt. The book highlights Ramsey’s “7 Baby Steps” to financial freedom. These steps include creating a budget, paying off debt, and building an emergency fund. The book is easy to read and offers actionable advice that anyone can follow.
2. “Rich Dad Poor Dad” by Robert Kiyosaki
“Rich Dad Poor Dad” by Robert Kiyosaki is a book that challenges conventional wisdom about money and wealth. The book is based on Kiyosaki’s experience of having two fathers: one who was “poor” but financially stable, and one who was “rich” but struggled with money. The book discusses the importance of financial education and building assets instead of accumulating liabilities.
3. “The Psychology of Money” by Morgan Housel
“The Psychology of Money” by Morgan Housel is a book that explores the emotional and psychological aspects of money. The book takes a deep dive into how people think about money and the decisions they make with it. It also discusses the concept of “enough” and how to find financial contentment.
4. “The Simple Path to Wealth” by JL Collins
“The Simple Path to Wealth” by JL Collins is a book that simplifies investing for beginners. The book discusses the importance of index funds and offers practical advice on how to invest for long-term wealth building. It also covers topics such as tax optimization and retirement planning.
5. “Your Money or Your Life” by Vicki Robin and Joe Dominguez
“Your Money or Your Life” by Vicki Robin and Joe Dominguez is a book that challenges the idea that money equals happiness. The book offers a step-by-step guide to achieving financial independence and retiring early. It also encourages readers to evaluate their relationship with money and how it affects their overall well-being.
Conclusion
Reading personal finance books is an excellent way for young adults to learn about money management and make informed financial decisions. The top 5 must-read personal finance books for young adults in 2021 are “The Total Money Makeover” by Dave Ramsey, “Rich Dad Poor Dad” by Robert Kiyosaki, “The Psychology of Money” by Morgan Housel, “The Simple Path to Wealth” by JL Collins, and “Your Money or Your Life” by Vicki Robin and Joe Dominguez. These books cover a wide range of personal finance topics and offer practical advice that anyone can follow.
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