If you’re trying to fix your finances, starting in your 20s is the best way to go. Even if you’ve got student loans, no credit and credit card debt, there’s still hope for you. If you want to pay off debt, start investing and learn to save, time is the most important resource you can find. That’s why starting young will set you up for success later in life.
Here are our top picks for personal finance books to read in your 20s:
Zina’s Favorite Personal Finance Books:
Living Well, Spending Less: 12 Secrets of the Good Life by Ruth Soukup
If you’ve just graduated, you might be wondering how to manage your newfound adult responsibilities while still having a life. For those of you, this book should be your bible. Ruth Soukup details how you can learn to manage your money while enjoying your life. She proves that it’s possible to have fun without blowing your budget or getting into more debt. This book will help you learn how to avoid peer pressure and spend money on what you really care about.
Shannyn’s Favorite Personal Finance Books:
Young, Fabulous & Broke by Suze Orman
This was the first personal finance book I ever read. Suze Orman can sometimes be a controversial figure in personal finance, but I really loved her no-nonsense approach to finance. If you can’t afford it? Don’t buy it. If you haven’t set aside money for an emergency, you are putting your future at risk. She sets young folks straight- you cannot build a future on borrowed money that you have no plan to pay back. Pay down your debts, save up for what matters most, her guide is a straight forward tough talk to folks in their 20’s.
You’re So Money: How To Live Rich Even When You’re Not by Farnoosh Torabi
Farnoosh is quite a powerhouse in the finance world, and this was her first book which I got my hands on in my early 20’s. It’s a refreshing guide to budgeting, setting priorities, and learning how to afford anything with some creativity and planning. Farnoosh approaches personal finance like I do, which goes against what some voices in the space advocate for: you can afford anything, but you can’t afford everything. Yes, you can afford a designer purse with the right plan and justification, but you cannot afford all the things you want, be smart and plan ahead!