The best personal finance books for millennial women

Sarah Catherine Gutierrez Author Of But First, Save 10: The One Simple Money Move That Will Change Your Life
By Sarah Catherine Gutierrez

Who am I?

I own Aptus Financial and am a writer, financial columnist, and a Certified Financial Planner™. I also run 401(k)s (in high heels.) Financial literature and advice tends to nerd out with natural savers or shame debtors, but my passion is the folks in between—the break eveners. I believe that this group benefits from financial advice that nudges, not bludgeons. Also, many women don’t feel they belong in the world of personal finance, which is why I dedicate time to public speaking to women’s groups around the country. I am tapped into a network of financial ladysplaining authors and speakers who have collectively pulled ourselves up by our Mary Jane straps and are pulling chairs for other women at the financial table—right where they belong.

I wrote...

But First, Save 10: The One Simple Money Move That Will Change Your Life

By Sarah Catherine Gutierrez

But First, Save 10: The One Simple Money Move That Will Change Your Life

What is my book about?

But First, Save 10: The One Simple Money Move That Will Change Your Life focuses on a simple concept that is all about inspiring women to save 10% of everything they make. Period. It starts with the inspiration to save, arms against YOLO (You Only Live Once) brain traps, and teaches a “pay-yourself-first" cash management system for life. Financial books have been the most clichéd graduation gift of all time and have weighted down moving boxes for decades with layers of dust and guilt springing from unread pages. But this one comes with a Gen-Z movement in college sororities, clubs, organizations, non-profits, and a growing Facebook group dedicated to Save10 conversations, questions and crowdsourced answers. Financial mistakes no longer have to be a rite of passage. Saving is the new Gen-Z power suit. Yes, we can want nice things, but first, we have to pay ourselves. But first, we always Save 10.

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The Books I Picked & Why

Money Honey: A Simple 7-Step Guide For Getting Your Financial $hit Together

By Rachel Richards

Money Honey: A Simple 7-Step Guide For Getting Your Financial $hit Together

Why this book?

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.

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Broke Millennial: Stop Scraping by and Get Your Financial Life Together

By Erin Lowry

Broke Millennial: Stop Scraping by and Get Your Financial Life Together

Why 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.

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Clever Girl Finance: Learn How Investing Works, Grow Your Money

By Bola Sokunbi

Clever Girl Finance: Learn How Investing Works, Grow Your Money

Why this book?

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.

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Smart Money: The Step-By-Step Personal Finance Plan to Crush Debt

By Naseema McElroy

Smart Money: The Step-By-Step Personal Finance Plan to Crush Debt

Why this book?

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.

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Do It for Yourself (Guided Journal): A Motivational Journal

By Kara Cutruzzula, Tessa Forrest

Do It for Yourself (Guided Journal): A Motivational Journal

Why this book?

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.

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