There is a lot to learn in the realm of personal finance — and sometimes trying to figure it all out feels like a crash course in reality. You are forced to figure out a debt repayment strategy only after you've already racked up student loan debt or gotten hit by a surprise medical bill. You only get versed in Mortgage 101 once you put in an offer on a house.
The good news is, there are resources out there that can teach you what you need to know before it happens. Whether you are hoping to build a budget and get your debt under control or dream of amassing enough wealth to successfully retire, there is a personal finance book for you. These five books are some of the most frequently recommended, and won't inundate you with indecipherable financial jargon or put you to sleep.
1. 'Get Good with Money: Ten Simple Steps to Becoming Financially Whole' by Tiffany Aliche
If you're struggling with debt, you may find some inspiration and motivation in "Get Good With Money: Ten Simple Steps To Becoming Financially Whole" by Tiffany "The Budgetnista" Aliche. In this book, Aliche "shares her own triumph over debt and financial hardships," plus offers "worksheets to help you assess your financial wellness without shame or judgment," said Business Insider.
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2. 'Your Money or Your Life' by Joseph R. Dominguez and Vicki Robin
This book is "best for" those who "want to retire early" and who are interested in "setting up systems to build wealth," said Business Insider.
Though "Your Money or Your Life" was published in 1992, "the principles unearthed in it hold true," said U.S. News & World Report. "It helps readers determine what money means to them, how much is enough, and how to reach financial independence while conserving earth's resources," said Carol Gosho, a certified financial planner and principal and founder of Gosho Financial Group in California, to U.S. News & World Report.
3. 'I Will Teach You To Be Rich' by Ramit Sethi
Looking for a personal finance bootcamp? In "I Will Teach You to Be Rich," "advisor and New York Times bestselling author Ramit Sethi outlines a six-week program for 20- to 35-year-olds to learn the four pillars of personal finance: banking, saving, budgeting, and investing," said Morningstar. Specifics covered in the book include "strategies for eliminating student loans and debt; finding a balance with saving and spending every month; and preparing to purchase a house or car."
4. 'The Simple Path to Wealth' by J.L. Collins
If you're hoping for personal finance with a friendlier format, "The Simple Path to Wealth" by J.L. Collins may appeal. The principles outlined in this book "were first laid out in a series of letters by the author to his daughter," and the tone is often "light and casual," said Business Insider.
That's not to say there isn't some heft here. "There's no shortage of accessible and actionable advice on investing throughout the book," said Business Insider, and it "doesn't shy away from explanations of more complicated topics."
5. 'The Bogleheads' Guide to Investing' by Taylor Larimore, Mel Lindauer and Michael LeBoeuf
Once you have the basics of personal finance down, the next step is cutting your teeth with some investing. "The Bogleheads' Guide to Investing" is "a great first investing book," and ideal for "beginner investors," said U.S. News & World Report. "Created by followers of John C. Bogle, founder of the Vanguard Group and advocate for the index mutual fund, this book outlines the Bogleheads' style of investing in a way that's clear and easy to understand."
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