Best personal finance books for non finance people
Hi,
I want to get my girlfriend a book about personal finance and I'm looking for reccomendations. I'm not really looking for a classic investing book (Graham etc), bur rather a book that goes into concepts that we take for granted (IRR, time value of money, asset allocation, investment yields, interest rates, etc) and explains them and their importance to the layperson who doesn't work in finance or even a numerically demanding job.
Any reccomendations?
Thanks!
It doesn't go into those points exactly, but the Richest Man in Babylon is a classic personal finance book for people that know nothing about finance. I really enjoyed it.
The Psychology of Money is the S-tier book for personal finance for non-finance people, altho it doesn't go into the things you want. But still, a fantastic read
Hey there!
Based on the most helpful WSO content, I'd recommend "The Intelligent Investor" by Ben Graham. While it's a classic investing book, it does cover some fundamental concepts that could be beneficial for understanding personal finance. However, since you're looking for something less finance-heavy and more accessible, I'd suggest looking into "The Education of Millionaires" by Michael Ellsberg. It's not strictly a personal finance book, but it does delve into shifting mindsets and understanding the value of money, which could be a great start for someone not deeply entrenched in the financial world.
Another great read could be "7 Habits of Highly Effective People" by Stephen Covey. It's not directly related to finance, but it offers valuable life skills and principles that can indirectly improve one's financial decision-making.
Remember, the key is to find something that resonates on a personal level and makes the often complex world of finance relatable and understandable. Happy reading!
Sources: Advice for an ex-IB MD: What to read if you want to go into finance, Books You Recommend, Best Books to Help Your Investing Skills, Reading List for the Incoming Analyst, https://www.wallstreetoasis.com/forum/hedge-fund/book-recommendations-for-economics?customgpt=1
Read some personal finance posts on Reddit or on YouTube and it’ll be helpful for learning
Psychology of money is a good one
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