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5 Finance books that changed my outlook on money

5 Finance books that changed my outlook on money
Money – boring, right? I am a financial journalist, but I understand it can be dull. If not dull, scary, and something we tend to bury our head in the sand about
Image of a lady reading a book for books about money
Just two years ago, I hadn’t a clue what an ISA is. I didn’t understand mortgages, pensions, or investing, and interest was something I lost when people talked about money. But don’t get me wrong – I am in no way an expert. I still have a lot to learn and am constantly being given new information.
When I first started at MoneyMagpie, I was an intern. I had a love for writing, but I won’t lie – no clue about much else. I had recently graduated (during a lockdown), was made redundant twice in a year due to the pandemic and then I was thrust into the world of finance. For a moment I was but a Guppy in a sea of beautiful, educated dolphins.
I learnt quickly on the job and soon learned that when you have a basic understanding of how money works, it suddenly becomes way less daunting. I also took it upon myself to read books to help me along the way, and here are the 5 finance books that changed my outlook on money.

1. Rich Dad Poor Dad by Robert T. Kiyosaki

Image of book cover Rich Dad Poor Dad
Rich Dad Poor Dad is based on author Robert T. Kiyosaki’s childhood, in which he tells stories of how he learned about money, finance, and the disparity in financial education between "rich" and "poor" families. He tells stories of his life through anecdotes and advocates for the building of wealth in different ways.
"Rich Dad Poor Dad is based on Kiyosaki’s childhood, how he learned about the disparity in financial education between "rich" and "poor" families"
The “rich dad” within the title is his friend's dad – a man who accumulated wealth due to investing in assets and entrepreneurship. The “poor dad” refers to the author's own father, who he claims was never able to obtain financial security, despite a lifetime of hard work.
I found this book easy to digest, written in a way that makes it easy to understand and is a great read for anyone who wants to learn about growing wealth and becoming financially independent.

2. What They Don’t Teach You About Money: Seven Habits To Unlock Financial Independence by Claer Barrett

Image of a book cover What they don't teach you about money
This is a personal favourite of mine. Author Claer Barrett has been an important figure in my financial journey so far. Her Financial Times podcast, Money Clinic is indispensable – and so is this book.
It dives into a range of money issues, discussing the psychology and reasoning behind them, how they come about in our lives, and the steps we can take to rectify them. From credit cards, debt and interest payments to saving money, how investing works and house deposits, the most pressing topics are covered.
Written in an understandable way, this book totally took some of the daunting aspects of money that I struggle with and made them simple and manageable.

3. How To Money: Your Ultimate Visual Guide To The Basics Of Finance by Jean Chatzky and Kathryn Tuggle

Image of the cover of a book titles How To Money
If you find illustrations more accessible, especially when it comes to a topic such as money, you aren’t alone. It is easy to lose interest when trying to read pages and pages of text. That’s why I fell in love with this book. There is a great balance between writing and illustrations, with the latter making some of the concepts so much easier to grasp when you can really visualise them.
"This book is everything they should teach us about money when we are young, but don’t"
This book is everything they should teach us about money when we are young, but don’t. If you learn best with pictures, charts, bullet-point lists and colours, this is the book for you. And if you have teens in your family – even better! This is a great place to start. I really wish I’d had a book like this when I was younger.

4. Your Money Or Your Life by Vicki Robin

Image of a book cover Your Money or Your Life
This book gives readers simple and useful tools to take control of your money. It takes the guesswork out of simple concepts, providing tips and tricks on how to get out of debt, how to build your savings and change your everyday priorities when it comes to spending money.
It’s no surprise to be that this book is rated 4.5 out of 5 stars on Amazon – and I must say, I’d give it a high rating too. No part of this book felt patronising or judgemental – instead, it became a safe space to learn, resolve inner financial conflict and provide a greater understanding of how to live well for less.
This is a great book for beginners but is useful across the board. I learned a lot from it, and in this time of great economic uncertainty, I feel comforted knowing I have this to hand.

5. Broke Millennial by Erin Lowry

Image of a book cover titled Broke Millenial
Now I am a 20-something ‘Gen-Z’, born a few years shy of being a Millennial – but this book has been an integral part of my financial education. If you’re in your 20s or 30s and are cash-strapped – this is the book you need. Finances are daunting, and you feel like you could be swallowed up trying to navigate day-to-day life.
"Finances are daunting, and you feel like you could be swallowed up trying to navigate day-to-day life"
This is an easy roadmap to clarity. From student loans to feeling comfortable about talking debt through with a significant other, the author creates a safe space for young people within the pages. It also discusses important (and relatable) issues, such as going out with friends and not being able to afford to split the bill evenly.
If you’re a Gen-Z or Millennial – or have any in your family – this is a must have.

Written by Isobel Lawrance, money content writer at MoneyMagpie 
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