top 10 budgeting books
Budgeting has been one of the most effective financial practices. It involves dividing funds into bills, utilities, entertainment, and other necessities. In other words, it reflects the concept of establishing a financial management strategy. A budget is a spending plan that allows a person to create a roadmap for her money to follow and go where she wants it to go. budgeting is nothing more than adjusting one’s expenses and income. The best approach to mastering this concept is to read some of the best budget books.
here is the list of top 10 budgeting books you should read:
You are reading: Best books for budgeting
- The Total Money Makeover: A Proven Plan for Financial Health(Get this book)
- The Latte Factor: Why Not you have to be rich to live rich (get this book)
- I’ll teach you how to be rich: without guilt. there are no excuses. no bs just a 6 week program that works (get this book)
- how to manage your money when you have nothing(get this book)
- The Simple Path to Wealth: Your Roadmap to Financial Independence and a Rich and Free Life (Get this book)
- The Financial Diet: A Guide total for beginners to be good with money ( get this book )
- your money or your life: 9 steps to transform your relationship with money and achieve financial independence (get this book)
- how to stop living paycheck to paycheck: a proven path to money mastery in just 15 minutes a week! ( get this book )
- broke millennial: stop coping and reorganize your financial life ( get this book )
- The Spender’s Guide to Living Debt Free: How One Quick Spending Helped Me Go From Broke to Rude in Record Time (get this book)
Let’s explore each of these best financial budgeting books and try to learn some key lessons from them:
You are free to use this image on your website, templates, etc, Please provide us with an attribution linkHow to Provide Attribution?Article Link to be HyperlinkedFor eg:Source: Budgeting Books (wallstreetmojo.com)
#1 – the total change of money
a proven plan for financial health
by dave ramsey
The book originally came out in 2003, in which the author talks about how people first have to debunk the myths of money and the life they lead. then use statisticsstatisticsstatistics is the science behind identifying, collecting, organizing and summarizing, analyzing, interpreting and finally presenting such data, whether qualitative or quantitative, which helps make better and more effective decisions with relevance. Read More
book review
The book points out how most American citizens live a poor financial life. approximately 90% of college students have educational loans. a large percentage of US citizens do not pay their monthly credit card bills, and 49% of US families only have enough savings to last less than a month if it is taken from their monthly income. In addition, the author points out that people live in ignorance and denial of their economic position.
key points
- the book talks about the importance of an emergency fundemergency fundan emergency fund is a source of money that you refrain from spending and store safely for use in times of need. Since it is available for retirement, the savings invested in the emergency fund acts as a savior during unforeseen circumstances. emergencies can be a sudden job loss, emergency medical problems, or large losses in the financial market.read more.
- encourages readers to get rid of their loans and bad debtsbad debtsbad debts can be described as a contingency loss incurred by a business organization due to non-compliance with agreed terms and conditions due to the sale of goods or services or the repayment of any loan or other obligation. read more slowly (debt snowball).
- the book has a 7-step financial plan, from starting a mini emergency fund to building a retirement fund with proper planning.
- the author highlights how most people fail to take responsibility for their finances and points out the key problems.
#2 – the café con leche factor
why you don’t have to be rich to live rich
by david bach and john david mann
The book revolves around the idea that a person is not broke if they can afford their morning latte. instead, simply by inducing new habits, people can transform their financial lives and realize their dreams of getting rich.
book review
Author David Bach begins the book with a short story in which he meets a woman with his coffee. she doesn’t have enough money, so he advised her that if she skipped her morning latte, she’d be saving $5 a day, which would eventually turn into $11,000 in five years and much more in a few decades (via from the investment). So the book talks about investing small amounts slowly and letting time do its work for you. that’s why the book is called the “latte factor.”
key points
- poor life.
- ‘start paying yourself first’, that’s one of the key principles to building wealth.
- the author wants everyone to set aside a certain amount of money to invest.
#3 – I’ll teach you to be rich
no fault. there are no excuses. no bs just a 6 week program that works
by ramit sethi
Ramit Sethi, the author of the book, says that getting started is more important than becoming a financial expert. The book discusses the general idea in which the author motivates people to start investing today, even if they have $1. The most important aspect here is to get started.
book review
See Also: 15 Perfect Pet Books for Preschoolers
The book sheds light on how people never really accept that they are bad with their finances, they always make excuses and do nothing to change that. the author suggests that investing is difficult and one can lose some money, but it is important to lose it today rather than tomorrow. so, without further delay, people should invest as soon as possible with as little money as possible to use the power of time.
key points
- ramit says that the first step to getting rich is to start taking responsibility.
- the author also says that people ignore the power of compoundingcompounding is an investment method in which income generated by an investment is reinvested, and the new principal amount is increased by the amount of income reinvested. depending on the time period of the deposit, interest is added to the principal amount.read more.
- the book is a lot like “rich dad poor dad”.
- it is one of the best personal budgeting books for new readers.
#4 – how to manage your money when you don’t have
by erik wecks
The book was originally published in 2012 and emphasized budgetingBudgeting is a method used by businesses to make accurate projections of income and expenses for a specific future time period, taking into account various internal and external factors that prevail at that time. read more expenses. however, the author has filled it with many daily life experiences to make it easier to understand.
book review
The book is a guide to building long-term wealth. the author has written the book to question the reader’s ideology. Unlike other financial books, this book is a quick read, making it one of the best personal budgeting books for people caught up in their finances. In addition, the book highlights that people who get into debt then find themselves in an endless cycle of interest and installment payments.
key points
- written specifically for US citizens.
- sheds light on modern economicseconomic economics comprises individuals, business entities, and the government involved in the production, distribution, exchange, and consumption of products and services in a society.Read More
#5 – the simple path to wealth
your roadmap to financial independence and a rich and free life
by j. me collins
The book is one of a kind. Although one can find much in common between various budget books, j. me collins has a different financial planningfinancial planningfinancial planning is a structured approach to understanding your current and future financial goals and then taking the necessary steps to achieve them. Because this doesn’t start or end in a specific time frame, it’s known as an ongoing process.read more and a management approach.
book review
One of the key factors discussed in the book is risk with savings and investmentsSavings and investmentsSavings refers to setting aside or saving money for future use and not using it, which implies low risk and low returns. while investing refers to investing money in different ways to earn more money on the principal amount which involves more risk and return. read more. The author says that no investment is risk free, and the moment a person starts saving and investing money, there will always be a risk of losing money or facing a major expense. The central idea of the book is that since money is one of the most powerful tools, understanding it is essential and nothing should intimidate people.
key points
- the author advises avoiding debt at all costs.
- urges people to try investing in index fundsindex fundsindex funds are passive funds that pool investments in selected securities.read more.
- the book warns that there is no limit for a stock or asset to rise.
#6 – the financial diet
a beginner’s guide to being good with money
by chelsea fagan and lauren hage
The book was published in 2018 and takes a new perspective on habits and routine to get a person’s mindset on the right way to spend money.
book review
Certain types of people don’t care about their finances and then regret it. this book is technically for them. however, ordinary people are buried under student debt or desperately looking for an entry-level job. the book helps them create a budget, understand investments, and manage their credit. Chelsea Fagan turned to a variety of experts and knows how important it is to be wise with money. the book talks about how people spend their money on clothes, food, unnecessary expensesan expense is a cost incurred in completing any transaction by an organization, leading to the generation of income, the creation of the asset, the change in the passive or obtaining capital.read more, subscriptions and others.
key points
- The book highlights the process of becoming money smart in a year.
- It is a budgeting book that also talks about becoming financially responsible.
- The book encourages people to invest and helps them learn its basics.
- teaches how to become budget friendly.
#7 – your money or your life
9 steps to transform your relationship with money and achieve financial independence
by vicki robin and joe dominguez
See Also: Google Books Vs Kindle 2022: Which Is Better? Best Comparison
The book was published in 1992 and remains one of the best books on personal budgeting. the author inspires people to achieve financial independence.
book review
The book is written to help its readers transform their relationship with money. the book is not just any budget book but covers expenses, income, debts and savings. Furthermore, the author wants his reader to understand how following a few simple steps can help him get the most out of his relationship with money, not only healthy but effective and enlightening. The book provides a blueprint for reaching new comfort levels of financial stability, and it doesn’t stop there, it provides a new perspective on life.
key points
- The book is about an individual’s relationship with their money or income.
- Explains how money has its presence in all aspects of people’s lives and the problems it brings .</li
- the book talks about financial integrity, intelligence and financial independence.
- the author took 9 steps to achieve financial independence.
#8 – how to stop living paycheck to paycheck
A proven path to money mastery in just 15 minutes a week!
by avery breyer
the author talks about creating a monthly budgetmonthly budgeta monthly family budget template is a spreadsheet or document that outlines details about a person’s monthly family income and expenses over a specified period of time, such as household expenses, transportation expenses, utility expenses, insurance expenses, obligations, savings, etc.read more for people and follow it and keep a strict follow-up to achieve and maintain financial independence in the shortest possible time.
book review
The book is easy to understand and provides a detailed picture of how to control spending urges, what is recommended and what is a mere expense that can be avoided for a long time. the book doesn’t make you frugal, but it does help create a budget to live happily. that makes it one of the best budget books for people who want to get out of the financial abyss. the book focuses on budgeting and is a good self-help book.
key points
- As the title suggests, it is based on budgeting practices taught 15 minutes a week.
- The book identifies that it is not low income but people’s spending habits that get in trouble.
- The author’s writing is fresh and easy for readers to follow.
- She talks about the use of credit cards and other forms of debt.
#9 – broke millennial
stop scraping by and organize your financial life
by erin lowry
The book asks certain questions and says your answer represents one’s relationship with money and future goals.
book review
The author talks about people’s deeper issues and problems with money managementMoney managementMoney management refers to the proper use of money, which includes creating a budget, understanding expenses and income cash, tracking money spent, saving some income for investment and future use, eliminating unnecessary spending, and tracking all items to understand spending and cash generation. read more. she says that even when people don’t remember it, the problem with budgeting and understanding the concept of money goes back to their childhood, for example how they conceived the idea of money, how they got money, how they spent it and those other questions . The author believes that if one is good with finances, he will pay off his debts on time and help him get a good credit score.
key points
- The book highlights the long-term relationship and identifies future roadblocks before you get there and prepare for it.
- Helps determine how much you need to live on and how much you can save as a percentage. wise.
- Contrary to popular belief, the book suggests that credit cards are a valuable tool one can use to make larger purchases.
#10 – the spending guide to live without debt
how a quick spend helped me go from broke to badass in record time
by anna newell jones
the book was published in 2016 and the author has been interviewed in forbes, self, glamour, good housekeeping and the chicago tribune.
book review
The author shares her story of how in 2009, as a young photographer, she was suffocated with too much debt at approx. $24,000 and how things were getting smaller with each passing day. the day she decided to spend fast, she found out and amazingly eliminated about $23,605.10 of her debt in just 15 months. The author’s journey has inspired many and serves as a living example of how people can still make the most of their financial habits.
key points
- >book contains lots of DIY ideas and expert opinions.
recommended articles
This has been a guide to the top 10 budgeting books. here we discuss what these books propose, their reviews, and key takeaways. you can also take a look at these suggested books below –
See Also: The Best Childrens Books About Cells, DNA, and Genetics – WeHaveKids
- investing books
- business books
- business finance books