5 personal finance books every Fearless Girl should read
Here at Fearless Girl Finance, we love diversification. Investing in a diversified ETF, setting up diversified streams of passive income – if we can diversify, we will. That’s why, even though we highly rate our own financial advice, we also recommend diversifying your knowledge by reading as much as you can from a variety of sources.
You might be thinking that reading about finance sounds as much fun as poking yourself repeatedly with a fork – and in the case of many personal finance books or columns, you would be right. But with our list of personal finance books every woman should read, you will find yourself turning page after page, dreaming about the life your new financial knowledge can afford you.
Here are the 5 personal finance books every Fearless Girl should read!
Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned At School – Andrew Hallam
This is the book that started my personal finance journey, and I will always have a soft spot for it. Andrew Hallam is a teacher who retired early as a millionaire by following 9 simple rules for money management. The book is well-written with engaging anecdotes and specific investment advice for Americans, Europeans, Australians and Singaporeans.
However, there are a LOT of graphs and some of Hallam’s advice leans towards being cheap rather than frugal – which we at FGF don’t love. Even though it’s not my favourite on the list, I do think it should be the starting point for anyone who wants to start investing for their future.
Best for: Fearless Girls who have cleared their debt and are ready to start taking care of their financial future
I Will Teach You To Be Rich – Ramit Sethi
Ramit Sethi is well-known for his Netflix series where he applies the lessons from this book to a varied range of participants, showing that personal finance management really is for everyone. From the couple who made a million from an MLM (multi-level marketing or pyramid marketing) to the drag queen in desperate debt, he brought personal finance to a huge audience.
The book is an easy read (not too many graphs) with solid advice on getting the best deal on everything from your internet connection to your new car. It’s most appropriate for an American audience, but we can all learn from gems like “The single most important factor to getting rich is getting started, not being the smartest person in the room.”
Best for: Fearless Girls who love a structured plan and anyone who struggles with intimidating phone calls
Balance – Andrew Hallam
Another Andrew Hallam? Are you side-eyeing me right now? While the first two books on this list are more like instruction manuals for setting up your accounts and automating your payments (and you definitely should not skip these!), Balance is a book which looks at alternative ways of living such as Barista FIRE, environmentally conscious investing and building a financial legacy for your dependents. Filled with wonderful stories from friends around the world, Hallam shows how you can live a fulfilling and financially stable life, even if you never become a millionaire.
Best for: Fearless Girls who are interested in getting out of the rat race but don’t have a million dollars to support them
The Psychology of Money – Morgan Housel
This one doesn’t have the same ‘financial education’ structure as the others, but for anyone who finds it difficult to hold their nerve during a downturn or who spends to keep up with the Kardashians, it’s an invaluable read. Before you dive into buying bitcoin or trying to save 70% of your income, take a good long look at your relationship with money.
Morgan Housel is a behavioural scientist who uses his expertise to show us how our human instincts most often get in the way our financial success, along with how the way we grew up with money shapes our financial futures. Insightful and liberating? Alexa, add to cart.
Best for: Fearless Girls who have grown up with a chaotic approach to money or who suffer with making comparisons
The Financial Diet: A Total Beginner’s Guide to Getting Good with Money – Chelsea Fagan and Lauren Ver Hage
Have you noticed anything about the books on this list so far? They’re all written by men – and isn’t that just a feature of most financial management advice? Even if it’s good advice, when the majority of advice is being written by rich, white men for rich, white men, it can make us feel as though investing isn’t really for us.
This book by The Financial Diet Collective is an inclusive book aimed at lower-income earners who may struggling with debt or with the rising cost of living. It’s also beautifully designed with graphics by one of the authors. As someone who has crawled out of the debt void, The Financial Diet felt like it was written for me. However, it isn’t a catch-all book and while the focus on debt and money mindset will appeal to some, Fearless Girls who are further on their journey could give this one a miss.
Best for: complete beginners who may be struggling with debt
There really is a financial book for everyone, and most of these are best read with another book on the list for – say it with me – diversification. The book that resonated with me the most was Balance, but I never would have got there without Millionaire Teacher or The Psychology of Money. Each book will give you a unique perspective on to your own finances so that you can start working towards your financial goals in the most diversified way possible.
Have you read any of these personal finance books? Let us know in the comments below or tag us on Instagram @fearlessgirlfinance_
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