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Written by Hillary Hoffower
Updated
2020-07-29T17:39:00Z
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- Personal finance sounds boring, but these books aren't.
- As a millennial wealth reporter, I've read a lot of books aimed at helping young adults get their financial act together.
- These are my top picks for millennials who want to get out of debt, learn how to invest, and build wealth.
- Visit Business Insider's homepage for more stories.
Forty-five books currently sit on my office desk, and they all share a key piece of advice: how to get rich.
As a writer who has been covering millennial wealth and money for nearly two years, it's been easy to accumulate this collection of personal finance books, many of which are specifically geared toward today's youth. And what's not on my desk, I've likely come across during my reporting research.
Let's be real: Personal finance can be a dry a topic. But a lot of the books I've come across happen to be real gems for millennials looking to get their finances in shape.
Whether you're fighting to pay off student-loan debt, climb your way out of the fallout of the recession, or just don't know what a 401k is, these books will help you kickstart your goals. Written in simple, relatable, and fun styles, they'll help improve your financial literacy, even if you consider yourself non-financially savvy.
"The Financial Diet: A Total Beginner's Guide to Getting Good with Money" by Chelsea fa*gan
fa*gan, founder of the popular personal-finance blogThe Financial Diet, brings her wisdom to print with a crash course on all things finance, from budgeting to managing credit.The booksummary bills it as "the personal finance book for people who don't care about personal finance."
"Millennial Money Makeover" by Conor Richardson
Richardson, a certified public accountant (CPA), will help you find your financial footing in six steps, from paying off student-loan debt to budgeting.
Geared toward 20- and 30-somethings, the book touches on millennial-specific money issues like making the most of robo-advisers, saving for your first house, and approaching a new type of retirement.
"Refinery29 Money Diaries: Everything You've Ever Wanted To Know About Your Finances ... And Everyone Else's" by Lindsey Stanberry
If anything will inspire you to track your finances, it's this. A spin off from Refinery29's hit seriesMoney Diaries, this book chronicles weekly spending accounts from women across the country alongside advice on how to get rich and enjoy life.
Bonus: There are money challenges throughoutthe bookto help you save $500.
"Broke Millennial Takes on Investing: A Beginner's Guide to Leveling Up Your Money" by Erin Lowry
Lowry is the founder of the personal finance website Broke Millennial. This book is the follow-up to her first, "Broke Millennial: Stop Scraping By and Get Your Financial Life Together." Millennials are more risk-averse than other generations, but Lowry makes investing seem less scary by breaking down the basics, whether it's advice on managing stocks or explaining confusing investing terms.
"I Will Teach You to Be Rich" by Ramit Sethi
Sethi's book,which was updated in 2019, isn't specifically geared toward millennials, but it's one all members of the generation should read if they want to build wealth. In it, he details a six-week modern-day financial plan that will help you lay the foundation for getting rich and more. That includes paying off debt, paying for a wedding, and negotiating a raise.
Not only does he offer strategies and tips, but he backs them up with psychological insights.
"You Are a Badass at Making Money: Master the Mindset of Wealth" by Jen Sincero
Sincero's book is more of a financial confidence-booster than a step-by-step guide to building wealth. Her personal essays are meant to shift your mindset around money by helping you figure out how you want to maximize your income and by taking a look at the attitudes of successful people.
"The Millennial Money Fix: What You Need to Know About Budgeting, Debt, and Finding Financial Freedom" by Douglas and Heather Boneparth
The Boneparths blend history, personal experience, and pop culture references to lay a financial groundwork for younger generations. While they offer advice for a variety of money situations, they provide solutions for two concerns specifically facing millennials: the evolving job market and the higher education bubble.
The best part is that the book reads conversationally, which makes tackling personal finance seem less daunting.
"You're So Money: Live Rich, Even When You're Not" by Farnoosh Torabi
This book is all about living your best life — within your means. In it, Torabi shows you when it's worth splurging on something, the best ways to grow your money, and how to have it all. It's a realistic look at how to prioritize expenses based on what you want the most.
"100 Side Hustles: Unexpected Ideas for Making Extra Money Without Quitting Your Day Job" by Chris Guillebeau
One of the best ways to increase your income is by maximizing your income channels — like taking on a side hustle. True to the book's name, Guillebeau features 100 stories of everyday people who transformed their side gig into a money maker. These case studies are sure to inspire you.
"Money Honey: A Simple 7-Step Guide for Getting Your Financial $hit Together" by Rachel Richards
Richards, a former financial advisor, retired at age 27 and now makes $10,000 per month in passive income — so it's safe to say she knows her stuff. Look no further than her book if you want to clean up your financial act. From consolidating student loans to cutting your expenses in half, she helps you manage your money in a simple, fun way.
"Get a Financial Life: Personal Finance in Your Twenties and Thirties" by Beth Kobliner
This New York Times bestseller has been around for 20 years, but it consistently undergoes revisions to cater to the latest cohort of young Americans. In the most recent version, Kobliner teaches millennials how make the most of the murky financial waters the economy put them in, from handling taxes to navigating apartment rentals.
Economics Correspondent, Millennial Wealth
Hillary focuses on the intersection of youth culture and wealth, reporting on the lifestyles and economics of millennials and Gen Z. She covers trends in how these generations are living and spending and examines how the economy is shaping them and their financial behaviors. She also reports on consumer spending and New York City's economy, and previously wrote about the ultrarich and personal finance at Insider before joining its economy team. Basically, she's written about money from every angle you can imagine. Inside the epicenter of America's Great Resignation: Kentuckians lay out the 4 forces driving the state's labor shortage — and explain why it's here to stay Millennial New Yorkers are ditching basem*nts and roommates for luxury apartments at $1,000-plus discounts The world's youngest self-made billionaire hopes to power every future self-driving car with a technology that Elon Musk says is 'doomed' Tiffany and the Trumps: Insiders describe how the president's younger daughter has charted what they say is a distant relationship with her father and come to terms with having America's most divisive last name Inside the French Riviera's pandemic party problem Yachting insiders detail the rampant sexual harassment aboard million-dollar ships, where crew members are promised a glamorous lifestyle and can instead find themselves trapped at sea with no one to turn to Millennials came limping out of the Great Recession with massive student debt and crippled finances. Here's what the generation is up against if the coronavirus triggers another recession.
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