It’s no secret that I love reading! In fact, you’ll find all of the books I’m about to mention on my resource page. But if I could narrow it down to the 5 best personal finance books for 2021, what would I choose?
Unfortunately, there’s a lot of bad information out there when it comes to personal finance. Indeed, a lot of people out there are all about the get-rich-quick things. As such, they advocate for high-risk investments and going into debt to “get ahead” when it comes to wealth building
However, I prefer methods that work for anyone. That’s why I’m such an advocate for Dave Ramsey’s 7 Baby Step plan.
With Dave’s methods, you don’t have to be an ultra-savvy business person to succeed. Instead, you just need focused intentionality and a commitment to invest steadily. Oh, and an allergy to debt.
And no, I certainly don’t believe Dave has an outdated view of personal finance. Why? Because just in the past couple of years, my wife and I have increased our net worth significantly. And yes, it’s just by following Dave’s plan.
Therefore, most of my top 5 personal finance books for 2021 will be by Dave or one of his team members.
But before we dive in, I want to shamelessly promote a book of my own!
A couple of months ago, I wanted to put out a free resource to help people. So I wrote a 23-page eBook on how to get out of debt! If you enter your email below, I’ll send it to you completely for FREE!
Now, without further adieu, here are my top 5 personal finance books for 2021!
My Top 5 Personal Finance Books for 2021
Now, it goes without saying that most Americans are in a financial mess right now. In fact, about 78% of Americans live paycheck to paycheck.
This means it’s time for a change. If you find yourself in this type of predicament, I firmly believe one of the books below will help you.
1. The Total Money Makeover by Dave Ramsey
Might as well start with the big dog! The Total Money Makeover by Dave Ramsey is easily one of the best personal finance books out there.
In this book, Dave details his 7 baby-step plan to building wealth and finding financial peace.
Dave’s plan really boils down to two things: having financial peace and building wealth over time. That means there’s no get-rich-quick scheme here.
Over the course of Dave’s career, he’s found that the quickest way to build wealth is to get rid of your debt and stay away from it.
I have to say, I completely agree! By getting out of debt, I’ve found that I have way more money to invest every month.
Plus, not only does Dave go into his 7 baby steps, he also offers guidance on investing, insurance, and more.
There’s a lot of junk financial stuff floating around out there. This book can help you navigate around all of that.
2. Everyday Millionaires by Chris Hogan
Have you ever wondered how millionaires build their wealth? Chris Hogan goes into detail about this in his modern-day classic, Everyday Millionaires.
Believe it or not, the vast majority of millionaires DID NOT inherit their wealth. Nor are they athletes, movie stars, or big-business owners.
While a lot of those people are millionaires, this study shows that the majority of millionaires are normal, everyday people.
In other words, most people build their wealth slowly over a long period of time. Furthermore, they tend to hold normal jobs like engineers, accountants, and teachers.
Chris Hogan offers a thorough examination of all the data points and calls out the myths about America’s millionaires.
Not only that, but he also lays out how you can become one, too!
This is a must-read for 2021!
3. Love Your Life, Not Theirs by Rachel Cruze
What top 5 personal finance books for 2021 list would be complete without a book by Dave Ramsey’s daughter? Love Your Life, Not Theirs is just about that: finding contentment in your own life rather than envying your neighbors.
Truthfully, we’re all dealt different cards in life. However, many people have this overwhelming need to catch up with their neighbors.
Think about how often your scroll through social media and see the lives of others. You take a vacation to Florida, while a friend goes to The Great Wall of China. What can happen is you can become dissatisfied or jealous of your friends. Then you feel the need to “catch up” to them.
Afterwards, you can even jump inside their heads and begin to make judgements about them. This is all wrong on so many levels.
Instead, Rachel suggests focusing on your own life instead of the lives of others. This leads to greater peace, contentment, and freedom.
She’ll also go into detail about some things you can do to start heading towards the life you want!
4. Debt Free Degree by Anthony ONeal
Did you know it’s possible to go to college without taking out any student loans? Why yes, it is. Anthony ONeal’s book Debt Free Degree is the best book out there to show you how.
You can read this book either as a parent or as a student. For the parents, Anthony goes into detail about how to set up your kids for financial success.
He’ll suggest you start early with a 529 or ESA. Or, if you can afford it, help your child cash-flow college.
But if you don’t have the money saved up, it’s time to start hustling a bit! And your child will need to have some skin in the game, as well.
Anthony is a big advocate for only going to schools you can afford. So, if that means going to community college for a couple of years, then that’s what you need to do.
He’ll also recommend avoiding out-of-state schools, unless you can afford them.
Ultimately, during school you need to focus on one thing: getting your degree without taking on debt.
After all, the country is in a student debt crisis. Don’t become another statistic. Pick up this book and learn how to avoid student loans.
5. The Legacy Journey by Dave Ramsey
Finally, I want to introduce you to one of my favorite Dave Ramsey books: The Legacy Journey. So, why is this one such a big deal? Well, in this classic, Dave takes a dive into Scripture to uncover a biblical view of building wealth.
You see, building wealth isn’t just about gaining a huge pile of cash for yourself. It’s about leaving a legacy for your children, your children’s children, and beyond.
Not only that, but building wealth also leaves LOTS of room to be outrageously generous with your money.
You see, God created us in his image. And what is something we know about God? He’s a generous giver. Therefore, for those of us in Christ, we are to be generous givers as well!
Not only does Dave go into the biblical reasons for giving, he also talks about how much fun it is to give! After all, God does love a cheerful giver!
Is everyone going to be crazy rich? Of course not. But can everyone leave a legacy? Yes, indeed. Check out this classic and learn how to do it!
Make a Change for 2021
Do you struggle with your personal finances? Maybe it’s time to make a change.
I personally recommend these books as my top 5 personal finance books for 2021 for one simple reason: At their hearts, they’re all about biblical stewardship.
You see, I don’t write about money just for the sake of helping people get rich. On the contrary, I write about personal finance to help people become good stewards of their finances.
I strongly believe that what people do with their money reflects their hearts. Not only that, but all that we have belongs to God. Therefore, we MUST manage our money with intentionality.
So, will you make a change for 2021? Or will this just be another New Year’s Resolution with no lasting change?
You have a choice: change or stay the same. If you just stay the same all your life, then you’ll never grow or challenge yourself. Sounds pretty boring to me.
But, you can decide to make a change and turn your situation around!
If you need help with this, check out my coaching services and set up a free consultation. I’ll be more than happy to listen to you!
And if you want a FREE resource, check out my 23-page eBook on how to get out of debt!