Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.
Giving a personal finance book to a just-hatched grad could help her navigate the financial-shark filled seas in the years ahead.
Here are the suggestions for money books for grads from a very high five of notables. Amazon.com links to buy the offerings are included:
Jane Bryant Quinn, columnist, author
My comprehensive book on personal finance, Making the Most of Your Money NOW which was updated in 2009. Obviously, details have changed but, strategically, I wouldn’t change a word. The explanations and directions are still sound. It’s a big reference book -- better perhaps for a college grad. Quinn is speaking at the upcoming Inside Retirement conference.
John Bogle, Vanguard Group founder
First, I would recommend A Random Walk Down Wall Street by Burton Malkiel. This book offers a thorough analysis on many key investment topics, but does so with a sense of humor. Not only is the book must reading, it is easy reading.
With all due respect, I’d also recommend two of my own books. First for high school students, The Little Book of Common Sense Investing is a short, popular, and straight-forward primer on personal investing.
Then for college students, I’d recommend Common Sense on Mutual Funds (with a foreword by David Swensen, Chief Investment Officer of the Yale endowment). This book offers a detailed look at each aspect of investing, with a final chapter entitled “On Human Beings” -- they’re important too!
John Wasik, personal finance contributing writer to The New York Times and Forbes
Without a doubt, these are some of my favorite books:
Robert Shiller's Irrational Exuberance (the current edition), a masterpiece on markets and bubbles.
Daniel Kahneman's Thinking Fast and Slow, an essential read on behavioral finance and how we consistently make bad decisions based on emotion.
Burton Malkiel's A Random Walk Down Wall Street, a classic take on investing for the long-term.
I am the author of Lightning Strikes: Timeless Lessons in Creativity from the Life and Work of Nikola Tesla (Sterling, 2016), Keynes's Way to Wealth and 15 other books.
Michelle Singletary, personal finance columnist for The Washington Post
“I would have to recommend my book, The 21 Day Financial Fast. This book helps a student still live like a student, especially if he or she has debt. For three weeks, participants of the fast can't spend on anything that is not a necessity (No eating out, movies, shopping, etc.). And they can't use credit or debit cards. The concept is that they shut down all consumer spending so that they figure out what they truly value and what they want to spend their money on. It's a biblically-based book, but even if you aren't religious the fast can help you really think about how you want to spend the money you earn for years to come.
“I'd also recommend the newly revised Get a Financial Life, Personal Finance in Your Twenties and Thirties by Beth Kobliner. This book is full of advice a young adult starting out will need.”
Ric Edelman, financial advisor and host of the TV show The Truth About Money With Ric Edelman
Mine. The Truth About Money. Covers every topic in personal finance, and is a “Primer 101,” explaining what money is, why you need to plan, the importance of starting while young (and how to start), how to buy a car (and whether to lease), how to buy your first home (and how to determine if you’re ready with my 10-question test), whether to work while raising young children, how to get out of debt (and why budgets are a waste of time) and lots more -- insurance, taxes, wills, and of course understanding how investments work.