100 Books Like Finance for Normal People

This book makes the novel and, to me, fascinating case that the economy is an evolutionary system that is constantly changing, implying that the static equilibria of conventional trade models are not usefully predictive. It also made it clear to me, from a different perspective, that the industries in which a country succeeds are path-dependent.

If you are a mosquito, the next evolutionary mutation will not produce an elephant. Likewise, it is much easier to design and manufacture 3 nanometer-scale chips if you have already designed and manufactured 5 nanometer-scale chips. This drove home to me how important retaining the key industries of today is for our long-term prosperity.

When people think of financial planning, their first thought is investing. Their second thought is retirement.

Kaplans explain risk succinctly: “Everything is possible, yet only one thing happens.” People understand risk but don’t really understand how to apply it rationally to investing (market risks) or to retirement (longevity risk).

But first, having an understanding of what risk is and isn’t, and where it comes from is important before you can apply it to what fuels your plans – markets and longevity.

This book helped me formulate the basic planning concepts I use in my book since personal finance is all about taking risks – as are any other decisions and actions you take in life.

Personal financial planning has to include investing. With investing comes risk. There are many books on investing. There are few on how to approach investing. Although a short book, it succinctly covers how to think about stock returns, modern financial theory, building a portfolio with risk also in mind, and applying Monte Carlo.

This book combines risk with returns so that you can better target risk to your financial plans. Having a long term, which means the rest of your life, view helps you understand everything has cycles. Using cycles of different investments in a portfolio construct, rather than viewing each investment separately, helps mute cyclical effects on your plans.

I always refer to the fundamentals discussed in this book when I begin to second guess my own plans when markets “misbehave” as they always do. It reaffirms how the application of modern financial theory has worked in the past… show more.

This is a wonderful book organized around four main concepts, each valuable in their own right: 1) The Theory of Investing; 2) The History of Investing; 3) The Psychology of Investing; and 3) The Business of Investing. 

The latter, the business section makes it clear the stockbroker is not your friend, even though they’re friendly (by design). Having started my career on the sales side of the business, I quickly learned the agenda is less about the customer and more about product sales, even though I was also a Certified Financial Planner ProfessionalTM. 

I dropped sales licenses and became a fee-only advisor and member of the National Association of Personal Financial Advisors (NAPFA) where the focus is on planning and helping clients achieve their wants and goals.

The principles in Bernstein’s book marry well with those of both Swedroe’s and Statman’s books (above) in the application of growing… show more.

For Asians, the relationship with money is complicated.

You are told to never accept money because you don't want to look greedy. Because of this, you become one of the extreme which is you save to the point where you don't live your life or you spend every penny and live paycheque to paycheque.

The author shares how to have a good relationship with money.

All the books I recommend have to do with business and finance. Why? Because that’s how you succeed as an artist.

It didn’t take me long to realize this key fact: talent alone gets you nowhere. It’s about marketing, business, strategy, and, yes, finance. This book helped me to realize two things: my wealth is measured in time, and to never say, “I can’t afford it” (Always ask: “How can I afford it?”).

It’s only because I was able to manage my money (eventually) that I was able to end up co-starring in a film that was sold at Cannes!

When I started my financial freedom journey, I discovered the Clever Girl Finance platform and gained great value from their blog posts and resources. When their book was released, I immediately picked it up because I needed guidance and encouragement in my journey to pay off over $200,000 of debt. This book provides actionable tips on how to create a debt freedom plan and, importantly, how to stick to the plan. I appreciated its balanced approach, which emphasized rewarding yourself (even in small ways) during the journey and managing your debt-free goals alongside your other financial goals. 

A Boy, a Budget and a Dream is easily one of my favorites because I related with the character first which made it so much easier to share with my son.

He is still too young to understand but it makes for a great bedtime story now. The book is easy to follow along and the illustrations are great. Jasmine does a great job in breaking down the connection between proper budgeting and having a plan to get what you want. 

When Katie and I married, we had completely different views on finances. In particular, I wanted to get out of debt and Katie seemed like she wanted to keep spending money regardless of how much we had. Someone gave us this book as a wedding gift and Katie read it on our honeymoon. By the time we came home her view was completely changed.

It’s probably the highest recommendation I can give this book. There’s a reason it is the top-selling financial book of all time. I have read it and recommended it to others. The book has mass appeal because it’s not strictly Christian.

Get-rich-quick schemes are avoided in place of a simple and straightforward approach. The program, Financial Peace University, has been used in churches and secular organizations. The major focus is the elimination of debt. The accompanying radio show, podcasts, and supplemental material also have this focus.

Larry Burkett founded Crown Financial Ministries, had an accompanying radio show, and wrote many financial books. I am thankful for Mr. Burkett and all of his contributions to God’s kingdom. His program has been used by many individuals and churches and is the closest rival to Dave Ramsey’s program.

He has many wonderful books I could have chosen, but I stuck with this one because of the foundation in Scripture. As the subtitle communicates, it is “An in-depth Bible study on personal finances.” I recommend this book to anyone who wants to know how to manage their finances according to biblical principles.