5 Personal Finance Books Every Student Should Read

There is a common cliche that students are always short on money. And indeed, this is often the case. But it doesn’t necessarily have to be that way. If you start learning about personal finance and budgeting early on, you can avoid the common financial pitfalls most of your peers fall into. 

These pitfalls are plentiful. For example, many students turn to online writing services in an attempt to improve their grades and meet deadlines. But while the wise ones use the tested ‘Essay Hub write my essay for me’ request, others give their money away to scam websites or pay hefty sums to random writers. You can also consider situations like:

  • buying things you don’t need or cannot afford;
  • having no emergency savings;
  • paying off debts with more debts;
  • not having a financial plan, etc. 

The list can go on. Yet, whatever your personal money issues are, you’d better take care of them now, until they become really threatening. The following books will teach you how to do it right. 

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‘How to Manage Your Money When You Don’t Have Any’, by Erik Wecks

This book is the first one on the list due to its title that hits right in the eye. Indeed, that’s exactly how many students think: if you’ve got nothing, you’ve got nothing to lose. The problem is, you actually can lose a lot. 

But not if you read this book by a real estate agent, financial advisor, and financial counselor Erik Wecks. The author aims as high as altering your fundamental beliefs about money and then changing the way you deal with it in your daily life. No ‘popcorn’ talk here – only actionable advice for those struggling to make ends meet.

‘Your Money Life: Your 20s’, by Peter Dunn

Few people in their 20s think about money as often as they think about other aspects of life. But when the time comes to pay off the debts, they regret it bitterly. If you don’t want to be like them, read this best-seller by Peter Dunn while it’s not too late. 

This book was written specifically for people burdened with student debt and living on a budget while having little to no knowledge about personal finance. As a result, it deals with essential topics such as budget planning, strategies for paying off that student debt, understanding credit score, and more.

‘Broke Millennial’, by Erin Lowry

As the title implies, this book focuses on the financial problems Millennials face. As most of today’s students are younger, you might think this is not something you’d want to read. But hold on. ‘Broke Millennial’, one of the most successful recent titles in the genre, is as helpful as it is charming. 

The book grew from the eponymous blog where Erin Lowry, “a journalism and theater double-major with a deep-rooted hatred for math”, taught her peers not to be stressed about money. The book is largely about the same: learning how to deal with money so that you could stop freaking out about it.

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‘I Will Teach You to Be Rich’, by Ramit Sethi

One more compelling title that may sound way too superficial. However, ‘I Will Teach You to Be Rich’ is a New York Times and Wall Street Journal bestseller that has proven its value throughout the years. 

The book is particularly helpful for students as it touches on some of the most important issues they face – student debt, setting up bank accounts, asking for a pay raise at work, planning expenses, etc. Besides, it’s written as a step-by-step plan, so this might be exactly the book you need to get your personal finances finally sorted out.

‘Rich Dad Poor Dad’, by Robert T. Kiyosaki and Sharon Lechter

This one is arguably the best-known and most popular book about personal finance ever written. It was first published in 1997 and is still as relevant today as it was back then. And though it is not specifically targeted at students, it is still totally worth your time. 

The book tells a story about growing up with a ‘poor dad’ and a best friend’s ‘rich dad’ and explains how a person’s financial mindset and attitude toward money shapes their (and their household’s) fortune. Over the years, many ideas introduced in this book have been challenged – and yet, it stood the test of time. And that means something!

Final Thoughts

Money is always a sensitive topic – especially when you don’t have a lot. But you don’t have to shy away from it and keep wasting the years that could have been spent laying the foundation for your future financial wellbeing. 

Most of the books listed above are available in audio format as well as in printed and digital formats. So, you don’t even need to read them yourself – instead, you can just listen to professional narrators during your commute to college or before going to sleep. 

If you start learning about personal finance now, it will instantly improve your life. But what’s more, it will help you find yourself at a far better place when you graduate. So, what are you waiting for?