This article about personal finance books was last updated in 2022.
When it comes to money, as a single mum it can be overwhelming. Maybe you don’t have enough, and what you do have, well .. how the hell do you manage it? Never fear, as we are going to introduce you to some of the best resources available that will help you manage your money right now and way into the future … personal finance books.
Books? We hear you say. Not Google? Yes, books indeed. Good old Google may be the first stop for all our modern day problems, from homework to household hacks. We all know if we look long enough we’ll find the opinion or answer that we ‘want’ but not what is necessary ‘right’. And this is fine for menial matters. Yet, when it comes to your money, there is no room for error. So rather than rely on non-expert advice you find on a website that knows more about ranking highly in the search engines than how you should handle your hard-earned cash, grab a book where the author has put their money where their mouth is .. quite literally.
Here are our top picks when it comes personal finance books for single mums who want to understand their finances, save money, make more money and relax in the smug glow of knowing their finances are under control.
THE PERSONAL FINANCE BOOKS ON THE MARKET NOW
by Scott Pape
This is one of the all-time, best-selling financial books in Australia. And with good reason. Scott reassures us that whatever our age and or the state of our finances, we all have the power to take control of our cash. It is the simple down-to-earth relatability of this book that makes it so damn popular. Especially with his ‘date night’ conclusions at the end of each chapter, encouraging us to get out and enjoy life (and champagne or a decent steak WITH dessert) as your financial issues start to fall into place. The Barefoot Investor claims to be the ‘the only money guide you’ll ever need’ and that could be right. The best bit is, there are no confusing calculations, head-spinning spreadsheets or ball-breaking budgets. Just step-by-step formulas and real-life examples that make you feel like Scott himself is by your side as you follow them. This is No.1 for our personal finance book recommendation.
Recommended for: People who need simple, understandable advice in all financials areas from daily money management, teaching our kids, learning to save and making the right investments for the future. Particularly good for those with a short attention span, who want to enjoy the read while they learn.
by Denise Duffield Thomas
We love this book as it focuses mostly on ‘money mindset’. And if your mindset is right, everything else falls into place. The beautiful Denise will have you busting through your money blocks to start raking-in the money you truly deserve. Her advice is real, loving and it truly works. From manifestation and inspiration, right through to practical advice we can all follow, Denise is open about her past financial mistakes, which have given her the wisdom to help so many. Most women settle for pennies not realising they are capable of so much more! This book will open your eyes and your mind to become aware of those blocks that hinder you, and have you charging confidently towards your financial sanctuary.
Recommended for: Women who feel negative about their money situation and overwhelmed at the thought of turning it around. Especially good for those who succeed with empowerment and revelations from the modern-divas we sooooo respect.
by Dave Ramsey
Unless you’ve been living your single mum life under a rock for the last few years, you will have heard of Dave Ramsey. Basically, when this guy speaks, people listen. And why wouldn’t you? His simple 7-step plan has helped millions of families with organisation, getting out of debt and, well, basically giving them a total money makeover. Dave works his magic to turn fat, flabby expenses to toned budgets, and skinny bank accounts into bulk cash machines. Plus, there is a great section about the ten most dangerous money myths. It could be the mix of 20-years of financial teaching and counselling or his simplistic manner which makes sense to even the most exhausted mumma, but somehow, he makes everything easy.
Recommended for: People who have families and possible debt would really benefit from this read, but it has been written for everyone whatever age or income. If you are looking for a full life/money makeover which is straight-forward and easy-to-follow, this is your book.
by Chelsea Fagan
So, this book is brilliant. It’s basically a ‘personal finance book for people who don’t care about personal finance’. A contradiction in terms, but one that works. In fact, more than works, it gets incredible results. This is a particularly girlie read that focuses on the real problems faced by real women, such as how to spend money (or not) on clothes through to making the perfect (budget friendly) cocktail recipe to celebrate your wins. The pages will take you on a wildly fun year of organising your finances once and for all, with emphasis on creating a budget-friendly kitchen, how to overcome awkward money talk with your mates, and understanding what ‘investment’ means and how to get out there and do it!
Recommended for: Young mums, single mums, younger ladies who need relatable advice which works in their world. Perfect for those who find the more complex personal finance books a bore, and like a knowing giggle as they read.
by Tony Robbins
We couldn’t compile a list of the best personal finance books without an appearance from ‘the man’.. Tony Robbins. Look, the guy is the No.1 life and business strategist and has coached more than 50 million worldwide. Need we say more? Well, yes actually, as what makes this book exceptional is that Robbins has teamed up with Peter Mallouk, who has been ranked the No. 1 financial Advisor in the U.S. for three-years straight. The end result is a blockbuster of a book that includes inspirational stories, action plans and strategies from the world’s top investors on how to increase super and the mindset of true wealth. As a real bonus it reveals the four principles of the world’s greatest financial minds. With this book in your life you have the best tips from the money masters at your fingertips.
Recommended for: People who are at any stage of their financial management plan. Those who love the inspirational-American style of teaching and want to learn from people who have truly ‘made it’ and are happy to share their secrets.
OUR FINAL PERSONAL FINANCE BOOK RECOMMENDATIONS
by Suze Orman
If you choose to live your life within the realms of spirituality, then here is a great read to discover your personal path to financial freedom. Suze Orman has touched the hearts and the pockets of peeps across the United States, and her lessons now reach far and wide across the globe. She teaches with a unique and revolutionary approach will allows you to confidently confront your money situation and move forward to deal with debt, retirement, trusts and general money management. There is really interesting take in the book which explores our earliest attitudes towards money. By observing and becoming enlightened to this, you will have a greater understanding of why we behave as we do with money in the modern day, and will have conviction around the changes that you make.
Recommended for: People looking for a deeper answer to their financial situation and/or those who make changes based on behavioural and educational understanding. Especially helpful for those who are planning to zero out their debts before retiring and struggling in choosing the perfect retirement plan.
by Ramit Sethi
This is a book worth picking up for the title alone! A bit presumptuous perhaps, but from page one you will see that Ramit means business. His 6-week (yes, only 6 week!) personal finance program is based around 4 pillars of finance: Banking, saving, budgeting and investing. The idea is that if you get these areas right, everything else will fall into place. And it’s not just what we ‘should’ be doing, but what NOT to do too. The now dubbed ‘Rising Star of Finance’ will have you not wasting a cent and will scare you into chucking your credit cards into the nearest bin. He reckons he can teach you how to get your finances in action for under $20 and, best of all, will teach you to negotiate like an Indian! The book is integrated with his website, but can be used on a standalone basis too.
Recommended for: 25-35 year-olds who love an energetic, enthusiastic approach to sorting out money issues with a slightly more aggressive edge and the support from a community of like-minded people.