Reading about personal finance can be a great way to teach yourself about the basic — and not so basic — rules of money. Becoming financially literate is crucial to success however you define it, whether it’s gaining financial security or building wealth.
For women especially, learning how to navigate finances is key. That’s because women face additional financial challenges like the pink tax, wage gap and a higher impact from inflation. Seeking financial advice tailored to these challenges — or from people who have also experienced them — can help you stay ahead of the game.
“Financial literacy is crucial for women as it empowers them to gain control over their finances, promotes gender equality and fosters independence and self-sufficiency,” says Lindsey McKay, owner and certified financial planner at McKay Wealth Management in Tukwila, Washington.
Check out some of the best books about financial literacy for women, recommended by female financial experts:
— “Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love,” by Tori Dunlap.
— “Financial First Aid: Essential Tools for Confident, Secure Money Management,” by Alyssa Davies.
— “Money Made Easy: How to Budget, Pay Off Debt, and Save Money,” by Allison Baggerly.
— “Get Good with Money: Ten Simple Steps to Becoming Financially Whole,” by Tiffany Aliche.
— “Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life,” by Jordan Grumet.
— “The ENVISION Method: How Smart Women Get Savvy About Money,” by Lindsey McKay.
— “Girls that Invest: Your Guide to Financial Independence through Shares and Stocks,” by Simran Kaur.
— “The Psychology of Money: Timeless lessons on wealth, greed, and happiness,” by Morgan Housel.
1. “Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love,” by Tori Dunlap
Best for: Unpacking stereotypes on how women spend.
Tori Dunlap, founder of the website Her First $100K, published “Financial Feminist” last year. The book covers a wide range of financial topics critical to women, including how to debunk some of the myths about spending they often face.
True to its title, the book addresses many of the inequalities women face in the world of personal finance, and it provides tips to overcome them.
Get the book here.
2. “Financial First Aid: Essential Tools for Confident, Secure Money Management,” by Alyssa Davies
Best for: Navigating unexpected financial challenges.
According to McKay, “Financial First Aid,” by Alyssa Davies, “offers practical tools and step-by-step guidance for women to improve their financial well-being.”
“This book has a relatable and realistic approach, providing valuable insights on budgeting, saving and preparing for financial emergencies,” she adds.
Covering topics from navigating a job loss to negotiating bill payments, it’s especially helpful for women facing life’s many unexpected financial challenges.
Get the book here.
[READ: 15 Steps to Achieve Financial Freedom.]
3. “Money Made Easy: How to Budget, Pay Off Debt, and Save Money,” by Allison Baggerly
Best for: Mastering financial basics.
Saving, budgeting and investing might seem like the bare bones of financial literacy, but they are some of the most important skills to master.
Allison Baggerly addresses these basics and provides readers with checklists and templates they can use to apply the lessons to real life.
“This book delivers practical and straightforward advice on money management. The author shares her personal experiences and provides a no-nonsense approach to budgeting and financial planning. Highly recommended for women seeking a realistic and accessible money plan,” McKay says.
Get the book here.
4. “Get Good with Money: Ten Simple Steps to Becoming Financially Whole,” by Tiffany Aliche
Best for: Budgeting through different life phases.
Known as “The Budgetnista,” Tiffany Aliche wrote “Get Good with Money” to help readers create budgets and stick to them — whether that means spending on just the necessities or saving for big-ticket purchases. It covers topics including building your credit score, automating bill payments and more.
“This book does a good job of addressing the psychological and emotional aspects of money management, how to overcome setbacks and maintaining motivation on the path to financial success,” McKay says.
Get the book here.
[Read: How to Make a Budget — and Stick to It.]
5. “Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life,” by Jordan Grumet
Best for: Taking stock of your financial life.
According to Heather Holmes, chief evangelist officer at Lumiant, an engagement platform connecting clients and advisors, “It’s so easy to get bogged down in the day-to-day hustle and bustle, losing sight of what’s important and how to live life in the present. Coming from the health care industry, I appreciate how this hospice physician starts at the end and helps everyone work their way back into what matters most today.”
“Taking Stock” provides a unique perspective on financial literacy: the financial lessons that seem most important to patients at the end of their lives. It encourages readers to learn from these lessons early to avoid future regrets.
Get the book here.
[Related:How to Start Investing and Saving for Retirement With Little Money]
6. “The ENVISION Method: How Smart Women Get Savvy About Money,” by Lindsey McKay
Best for: Examples of different financial situations from real women.
“The ENVISION Method,” by Lindsey McKay, covers multiple perspectives of women with different financial backgrounds and priorities. The book follows three close friends who face unique financial challenges but gather shared lessons on navigating their struggles.
“Relatable characters and real-life scenarios are woven into the narrative, engaging you in the story while making complex financial concepts easily understandable. Whether you’re a beginner or looking to enhance your financial knowledge, this book will equip you with the tools and inspiration needed to achieve financial empowerment and create the life you desire,” McKay says.
Get the book here.
7. “Girls that Invest: Your Guide to Financial Independence through Shares and Stocks,” by Simran Kaur
Best for: Tackling investing and the stock market.
Investing is an important part of a comprehensive financial strategy, but it’s something with which many women struggle. As a group, women generally have a lower risk tolerance for investing than men, which could potentially lead to lower payouts. Understanding how the system works can help you make informed decisions and take the right leaps for your financial goals.
“I highly recommend this book as a game changer for both women and beginners in investing,” McKay says. “It simplifies complex concepts using relatable examples and avoids overwhelming jargon.”
Get the book here.
8. “The Psychology of Money: Timeless lessons on wealth, greed, and happiness,” by Morgan Housel
Best for: Making reasonable financial choices.
Nicole Zheng, chief marketing officer at Pontera, a New York-based platform for financial advisors to manage accounts, recommends “The Psychology of Money” for its focus on making reasonable financial decisions.
“‘The Psychology of Money,’ by Morgan Housel, is an incredible read for women — the earlier in your career, the better. In addition to foundational concepts such as saving, risk management and the power of compound growth, the book teaches the human elements that underpin financial decision making,'” Zheng says.
“Given the amplified pressure in the workplace that women face — such as equitable earnings, unconscious bias and confidence gap — this book’s central proposition to aim for ‘reasonable’ over ‘rational’ financial decisions serves as a welcome reprieve,'” she adds.
Get the book here.
More from U.S. News
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How the Pandemic Hurt (and Helped) Women Financially
Best Books on Financial Literacy for Women originally appeared on usnews.com
