How much do you love money enough to die with money in your bank? Weird question I know. What do you know about our title “Best Books On Financial Literacy“? I am sure answer from majority audience would be a “No”.

I ask this because a lot of people die with a huge amount of savings in the bank.

Money that they worked really hard to earn.

The money they cut many corners to save.

And money they never really got to spend.

Do you know how much is lying unclaimed in American banks? it’s $45Bn plus as of the end of 2022. Here’s an unpopular question why earn money if you cannot spend it?

What if someone told you that you can save enough money without being needlessly frugal?

We live in a world where at least 75 percent of the population is literate. But only 20 percent of the adult population is financially literate.

Best Books On Financial Literacy

Financial literacy is an essential life skill. It helps you make informed decisions about managing your own hard money.

I remembered famous quotes from Robert Kiyosaki.

He said “Money without financial intelligence is money soon gone“.

He also said “Though We are literate in the 21st century, still we are illiterate when it comes to financial literacy“.

Therefore, Best Books On Financial Literacy are the only way to enjoy breathing the fresh air to become financially independent.

“You have to adopt the below action tips to become financial independence in your life” – Ebinezar Gnanasekaran

The number one problem in today’s generation and economy is the lack of financial literacy. The schools can’t cover all the values. That goes along with how you handle your money. Financial education should not solely rely on formal education institutions. But should be actively pursued outside the classroom as well.

Below is the list of the top 10 financial literacy Education books you must read in 2023:

Top 10 Best Books On Financial Literacy

  1. Rich Dad Poor Dad (Get here)
  2. The Intelligent Investor (Get here)
  3. The Richest Man In Babylon(Get here)
  4. Stop Acting Rich (Get here)
  5. The Millionaire Next Door (Get here)
  6. Think And Grow Rich (Get here)
  7. The Richest Engineer (Get here)
  8. From The Rat Race to Financial Freedom (Get)
  9. The Simplest Path to Wealth (Get here)
  10. Your Money Or Your Life (Get here)

Let’s review them in detail:

#1 – Rich Dad Poor Dad by Robert Kiyosaki

Rich Dad Poor Dad” is a book by Robert Kiyosaki and Sharon Lechter. It tells you the story of Kiyosaki’s two fathers (One Rich and the other Poor). And how they influenced his financial views and practices. The book is highly regarded in the personal finance space. It is considered one of the Best Books On Financial Literacy.

Robert Kiyosaki says, ‘Every person who graduates from school is financially illiterate.’

Evidently, it has remained a #1 Best Seller on Amazon in the personal finance category since its release in 1997. Many popular personal finance experts cite it as the inspiration for their success.

Orangutaan’s editorial staff recommends that you add it to your bookshelf.

Key Takeaways :

  1. Rich don’t work for money; they make their money work for them.
  2. The rich acquire assets, but the poor accept liabilities.
  3. Understand the true meaning of assets and liabilities.
  4. Money without financial intelligence is money soon gone.
Rich Dad Poor Dad by Robert Kiyosaki: Finance Literacy Books

#2 – The Intelligent Investor by Benjamin Graham

The Intelligent Investor” is a highly regarded investment book authored by Benjamin Graham. The book is considered a must-read for anyone interested in value investing or investment analysis.

The book teaches us how to analyze stocks and bonds, the importance of diversification, and the difference between investment and speculation.

If you are a beginner, the book is great for you. Altogether Graham’s overarching message is that real money is not generated by timing the market or buying and selling assets. But, by owning and holding shares and getting dividends that increase in value over time. Also, he helps you understand the benefits of investing in value companies.

Warren Buffett has also endorsed the book, calling it one of the Best Books On Financial Literacy. Also, he referred to it as his “Bible“.

Overall, “The Intelligent Investor” is a timeless classic and an essential read for anyone interested in learning about value investing and investment analysis.

Key Takeaways :

  1. While analyzing stocks, throw emotions of greed and fear out of the window.
  2. Focus on the company’s value and not trust the media hype.
  3. Protect yourself from significant losses. Diversify your portfolio.
The Intelligent Investor by Benjamin Graham: Finance Literacy Books

#3 – The Richest Man In Babylon by George S. Clason

The Richest Man in Babylon” is a classic book on personal finance written by George S. Clason. Despite being an old book, it still remains relevant today and has valuable lessons to offer. The book shares timeless principles on money and provides practical advice for achieving financial success. As you read on, the story is set in ancient Babylon. And it follows the journey of a man named Arkad, who was once poor but became the richest man in Babylon by following certain principles of money management.

Nevertheless, the book’s principles on saving, investing, and managing money are practical and effective. The book also emphasizes the importance of seeking advice from experts and investing in oneself through education and self-improvement.

Overall, “The Richest Man in Babylon” book’s principles are still relevant today and you can apply them to modern-day finance literacy.

Key Takeaways :

  1. Keep ten percent of your earnings for yourself.
  2. Invest the money you save.
  3. Advice is free, take advice from experts in their field
The Richest Man In Babylon  by George S. Clason: Finance Literacy Books

#4 – Stop Acting Rich by Thomas J. Stanley

The book “Stop Acting Rich” by Thomas J. Stanley is a guide for you to build wealth and understand the behavior and thinking of the wealthy. The book is highly recommended and has received praise from various media outlets.

Stanley uses a wealth index (WX) to differentiate between the “balance sheet affluent” (BA) group and the “income affluent” (IA) group.

Personally, I found it as easy to read and understand, with practical advice for you to build wealth.

Overall, “Stop Acting Rich” is a useful book for you if you are interested in building wealth and understanding the behaviors of the affluent.

Key Takeaways

  • Learn the difference between being rich and acting rich.
  • Wealthy people invest their money to meet their long-term goals.
  • A nonmillionaire tries to imitate the ultra-wealthy and ends up with financial disasters.
Stop Acting Rich by Thomas J. Stanley: Finance Literacy Books

#5 The Millionaire Next Door by Thomas J. Stanley and William D. Danko

The Millionaire Next Door” is a book written by Thomas J. Stanley and William D. Danko that challenges common perceptions about wealth in America. The book is literally a research report that examines the lifestyles and behaviors of millionaires.

The book remained #1 Bestseller on Amazon in 2022 and has been popular in the early retirement community. It spent more than 170 weeks combined on the New York Times Best Sellers list.

This book is considered a classic in personal financial literacy education.

Key Takeaways

  1. Millionaires believe more in financial independence than in showing off their top-class social status.
  2. Efficiently allocate your time, energy, and money to build wealth.
  3. Choose the proper occupation and grab market opportunities.
The Millionaire Next Door by Thomas J. Stanley and William D. Danko: Finance Literacy Books

#6 Think And Grow Rich by Nepolean Hill

Think and Grow Rich” by Napoleon Hill is a self-help book that has remained popular with over 100 million copies sold to date. The book is a guide to success and personal development.

The book has 13 chapters that cover topics such as desire, faith, persistence, and the power of the subconscious mind, for your knowledge. It contains examples of successful people, such as Henry Ford, Andrew Carnegie, and Thomas Edison, and their strategies for success.

Though I read it during my formative years, the lessons in the book are still relevant today. And you can apply to achieve success in any field. I have all the praise for this book for its practical advice and inspirational tone.

Overall, “Think and Grow Rich” is a classic self-help book that has inspired millions of readers to pursue success and personal growth.

Key Takeaways

  1. To become a millionaire, you better learn from a millionaire.
  2. Decide a goal and be flexible about your plans.
  3. Feel free to change projects that are not working.
Think And Grow Rich by Nepolean Hill: Finance Literacy Books

#7 The Richest Engineer by Abhishek Kumar

The Richest Engineer: Mastering the Art of Wealth Creation” by Abhishek Kumar is a book that promises to reveal the secrets of the rich. It provides you with clear principles to follow for accumulating wealth through proper investments.

If you are looking for personal financial education literacy, among all books this is the best resource. Interestingly it uses a story format to explain complex financial concepts. That makes it easy to understand for readers of all levels of financial literacy.

I would describe this book as a “must-read for everyone who wants to take charge of their financial life“. Also, the book’s “clear and concise” language, makes it a “perfect guide for those who are struggling with financial planning“.

Overall, “The Richest Engineer” appears to be an excellent addition to your bookshelf.

Key Takeaways

  1. Anyone can become rich.
  2. We learned wrongly about money throughout our life.
  3. How to change our attitude towards money.
  4. Also, learn ways to increase your income, and decrease expenses and taxes while maintaining your current lifestyle.
The Richest Engineer by Abhishek Kumar: Finance Literacy Books

#8 From The Rat Race to Financial Freedom by Manoj Arora

The book “From The Rat Race to Financial Freedom” comes from the author, Manoj Arora, an IT professional turned author who has multiple bestselling books on dreams, money, and happiness. This book seems to be a self-help guide for you on how to construct a personal finance plan and lead a financially independent life. Truly as mentioned on the cover page, it is “written by a common man for the common man“. And it is a good starting point for you if you to take control of your finances.

Upon reading thing book I felt, the experience was a journey toward financial freedom. And brought closer to the goal. Of course, the application of the rest depends on intent and effort.

Key Takeaways

  1. Financial freedom is not defined by your net worth or your social status.
  2. The level of earnings doesn’t matter, How much you have and how much you invest matters.
From The Rat Race to Financial Freedom: Finance Literacy Books

#9 The Simplest Path to Wealth by JL Collins

The Simple Path to Wealth” by JL Collins is a recent addition to my bookshelf. This book is a roadmap for achieving financial freedom. And it has received positive reviews from readers and critics.

I feel it is a one-stop roadmap to financial freedom, designed for you if you are looking for an easy, automatic path to achieving your financial goals. I must appreciate the author’s entertaining and easy-to-understand writing style. His personal anecdotes and examples make this book special.

As you read, “The Simple Path to Wealth” grew out of a series of letters from JL Collins to his daughter on various money and investing topics. World-over reviewers on Goodreads and Amazon gave the book positive ratings.

Overall, “The Simple Path to Wealth” appears to be a well-received book that offers a clear, straightforward approach to achieving financial independence.

Key Takeaways

  • Avoid debt. Learn the dos and don’ts if you have it.
  • The reality of stock markets and how it works.
  • The truth behind social security.
The Simplest Path to Wealth :Finance Literacy Books

#10 Your Money Or Your Life by Vicki Robin and Joe Dominguez

Your Money or Your Life” one of the books by Joe Dominguez and Vicki Robin that emphasizes the importance of financial independence and financial literacy and education. The central theme of the book is around

“9 Steps To Transforming Your Relationship With Money And Achieving Financial Independence”

Upon reading this modern book I felt like praising the book for providing practical and actionable advice for managing money and achieving financial freedom. The book allows you to choose your own path through the territory of earning and spending and to integrate that path with the rest of your life.

Overall, I feel “Your Money or Your Life” book is definitely worth reading and meets the high expectations set by its hype in the financial literacy book world.

Key Takeaways

  1. Do you have enough money?
  2. Do you spend time with your family and friends?
  3. Are you satisfied with your contribution to the world?
Your Money Or Your Life by Vicki Robin and Joe Dominguez: Finance Literacy Books

FAQs: Best Books On Financial Literacy

Financial literacy and financial education are crucial for individuals to make informed financial decisions, achieve financial stability, and avoid making poor financial choices. If you have questions about financial literacy and are looking for books and other resources to help you improve your financial knowledge, here are some answers to frequently asked questions:

Why is financial literacy important?

Achieving financial literacy can help individuals avoid making poor financial decisions and become self-sufficient and achieve financial stability. It can also help individuals better understand their personal finances, create a budget, save for the future, and invest wisely. Read this article from top if you want to know which Best Books On Financial Literacy to check out and increase your knowledge of the topic

What are some resources for financial education books?

There are various resources available for financial education books. The Consumer Financial Protection Bureau provides financial education resources for parents and caregivers. The American Library Association provides a publication that includes lists of inclusive financial literary resources organized by reading level through collaboration with librarians and FINRA.

Additionally, you can check your local library for financial education books, or you can purchase books from online retailers such as Amazon or Barnes & Noble.

Alternatively, Read this article from the top if you want to know more about Best Books On Financial Literacy.

About author: The author is an avid reader of the topics of personal finance management. Though the author has a well-balanced finance portfolio now built over the years. The author strongly empathizes with all middle-income families and believes it is their right to financial freedom and peace of mind. No holy grail exists, but commonsense and discipline make a successful Personal Finance.

Affiliate purchases from our readers help us sustain and encourage us to bring interesting articles for you.

AMAZON ASSOCIATE DISCLOSURE

Orangutaan is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com

Disclaimer: The author is not a financial advisor. Please make your investment decision by referring to a qualified financial advisor.

By Deven JANI

Welcome to Wealth and Planet. I am a seasoned Supply Chain, Procurement, and Operations leader with over three decades of experience across diverse industries, including healthcare, telecom, energy management, and metal and mining manufacturing. My passion for sustainability, efficiency, and innovation drives my commitment to educating the public about the urgent issue of climate change. I believe it is our collective responsibility to address the rapid degradation of our planet. Writing and teaching are my passions. Through this, I aim to empower everyday citizens with the knowledge and tools necessary to make impactful changes. With the right innovations and strategic shifts, we can alter the current trajectory and create a sustainable future. In these blogs, I share insights and strategies for eco-friendly living, sustainable wealth creation, and tech choices. Join me and the Editorial Staff at Wealth and Planet as we explore the vital intersection of financial health and environmental stewardship. Together, we can foster a healthier planet and a brighter future for all.