Sometimes trying to take on the daunting task of paying back debt can seem like a bit of a struggle.  The best thing to do sometimes is take a piece of advice from someone who is more successful than us or who has walked down our path before. These five books should be a must read for anyone who is struggling with debt or trying to gain a foothold on their finances.

1. Rich Dad Poor Dad

Rich Dad Poor Dad by Robert Kiyosaki is one of the best self-finance books that I have ever read. Kiyosaki once said, if you have a problem, you need to think of a solution that’s bigger than your problem. In this book Kiyosaki tells the story of two “fathers” with two very different outlooks on life. One of the fathers is his actual father while the other is his financial father. Through the tale of his two fathers Kiyosaki introduces an important concept called the Cashflow Quadrant. The Cashflow Quadrant is a simple idea that consists of two very different financial brackets. Within each bracket there are two types of people: one type who has to work hard to generate an earning for themselves and another type of person who puts money to work hard for them. This book changed my whole entire philosophy on what it means to be an employee vs finding a way to generate passive income.

Rich Dad Poor Dad: What The Rich Teach Their Kids About Money – That The Poor And Middle Class Do Not! (Kindle Edition)


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2. Excuses Be Gone

Excuses Be Gone isn’t necessarily a finance book. It’s more of a motivational self-help book. I put it on this list because I think that Excuses Be Gone is a must have for anyone who has any sort of excuse as to why they can’t get out of debt. Excuses Be Gone is written by Dr. Wayne Dyer. In his book, Dyer doesn’t just write, he motivates as he discusses was to change internal and very negative and destructive thought processes that generate excuses and hold people back from their full potential. This book is a motivational must have for helping to inspire people to achieve their long term goals.

Excuses Begone!: How to Change Lifelong, Self-Defeating Thinking Habits (Kindle Edition)


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3. The Richest Man In Babylon

The Richest Man In Babylon sits right next to Rich Dad Poor Dad when it comes to my favorite personal finance books. The Richest Man in Babylon was written by George Clason. Through his book Clason shows a collection of parables from ancient Babylon all related to building wealth and financial freedom. The collection of parables are designed to make a perfect recipe for financial success. The parables are simple, yet powerful: pay ourselves first, live below our means, make our money work for us, insurance protects our wealth, our home is our biggest expense, have a retirement plan, investing in ourselves, and wealth tracking. This is a powerful book that should be part of everyone’s personal finance library.

The Richest Man in Babylon (Hardcover)


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4. The Total Money Makeover

The Total Money Makeover is a must have for any person in debt. While not all personal finance advisers agree with Dave Ramey’s methods, this book presents one very important concept: The Debt Snowball Method. Through this book Ramsey shows how this snowball method can be used to pay down and get out of quick a lot sooner, than later. I’m actually using a modified version of the debt snowball method in order to tackle my debt.

The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness (Hardcover)


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5. The Millionaire Next Door

If you’re the type of person who struggles with the fear of missing out complex or is always struggling to keep up with the Jonses, this book is perfect for you. The Millionaire Next Door was written by two different authors. Through their book the two authors include of case studies from people of various professions. Through their studies the authors show that it really doesn’t matter how much you make, what matters is that if you live below your means, it’s very possible to achieve the wealth of a million dollars. The key to that success is to live below your means and keep life simple as opposed to buying fancy gadgets, brand new cars, and toys that eat into your finances.

The Millionaire Next Door (Kindle Edition)


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While this list only makes up five different finance books, there are plenty more out there. Are there any not listed here that you would recommend to other people and why?