The best personal finance books for millennial women

Money Honey is a quick and easy read that asks the reader “why are you here on the planet and why are you wasting your time living someone else’s life?” Richards’ story of saving and investing then essentially retiring from day job hours while in her 20s will get your attention. You will start asking yourself why you’re sitting on the couch scrolling social media when you could be making a business plan or increasing your savings rate. At its core, the concept is not just about money. It’s about using money for the purpose of living the life we want to live, the one “you” were designed for. She asks, why waste any time getting there? Her money bucketing system is spot-on for saving for long, intermediate, and short-term financial goals. I wanted to save so hard after reading this book.

Broke Millennial: Stop Scraping By and Get Your Financial Life Together is a bit longer how-to financial book that will have you in stitches at her stories and turns of phrase while you are subconsciously absorbing financial lessons along the way. While she is absolutely qualified to write a personal finance book, my favorite qualification is “a journalism and theater double major with a deep-rooted hatred for math.” For those paralyzed by the thought of money or who feel they have to read 3 books, 10 blogs, and listen to 20 podcasts before they are equipped to open a savings account, you need look no further. This book will get what you need and motivate you to take action with your money.

Grow Your Money is a must-read millennial investing book. The truth is that many women park their wealth in cash in the temporary lot waiting for the perfect investment but lose months, years, or decades paying the opportunity cost of missed investment compounding. As Ms. Sokunbi reminds us “It’s easy to overthink yourself into a standstill, fear the unknown, and let inertia stop you from doing anything at all. But, when you set the intent to succeed and start taking action, no matter how small at first, it’s just a matter of time before you start to reap the rewards.” Her description of the 401(k) is so romantic and saucy it belongs next to the Bridgerton series, not in the personal finance section. Why start with such a boring, jargon-laden account? Well, for many women, a 401(k) is the beginning and end of a fully funded retirement and where a small action perpetuated by the automation of deductions can prove to women over time that they are investors and that they need not fear making mistakes. Financial management is not a series of actions; it is a momentum that reinforces itself over time. But momentum has to start with the first step of investing. Ms. Sokunbi holds our hand and takes that step with us.

Smart Money: The Step by Step Personal Finance Guide to Crush Debt is for the Millennial ready to act and looking for the facts. Imagine a no-nonsense personal finance book with 9 steps to get out of debt. When people start their professional lives with credit card debt and student loan debt, they have the choice to get comfortable with it and figure out ways to “manage it.” Ms. McElroy wants the reader to be deeply uncomfortable with it and to “slay it.” Along the way, she covers the financial basics, unlike many financial books that assume a level of reader knowledge that may not yet exist.

Do It For Yourself: A Motivational Journal is a great pairing with any of the books above. The beautiful and powerful designs ask questions and challenge thinking. They move you to action, like one particular page entitled, “Day One or One Day.” In a world of social media where we don’t keep up with the Joneses driving down the street but rather having the Joneses drive into our own living rooms, Ms. Kutruzzula reminds us that “Comparison Will Kill You.” Money requires action today, not promises tomorrow. It requires us to stick to our own goals and our own plan, not the plans of others. And it requires perseverance. This journal guides just that process.