Top 5 Personal Finance Books Every College Or University Student Should Read

Need some help with your budgeting skills during school? Check out the best personal finance books for students!

Ask anyone who’s been there, and they’ll surely tell you that balancing your bank accounts while in college or university can be quite the challenge.

On average, most entry-level student jobs only pay around $7 to $10 per hour in the US.

And with such a low average entry-level wage, it’s often hard for students to make ends meet.

Below, we’re diving into our list of the absolute best personal finance or money management books that every student should ready.

You’ll find money-saving and investment tips, help with your budget, and more!

pink pig coin bank on brown wooden table

Broke Millennial By Erin Lowry

As a Millennial student, you must take control of your money as early as possible. Especially if you want to obtain financial independence in the future.

And that’s precisely what Erin Lowry sets out to help you with within her personal finance book, Broke Millennial.

In the book, you’ll learn how to gain control over your finances and create a monthly budget.

You’ll also learn a great deal about investing your money wisely, planning for your financial future, and how to avoid high-interest credit card debt.

Don’t let yourself fall into the same fiscal traps and pitfalls that so many people in their 20s and early 30s have.

Check out Broke Millennial and start planning your financial future today!

Using fun Millennial language and humour, Broke Millennial is a worthwhile read for any student struggling with their financial health.

Broke Millennial Has Launched (And Why Erin Lowry is Awesome)!

Why Didn’t They Teach Me This In School? By Cary Siegel

Ask any college or university graduate what they wished they’d learn more about during their time in school. They’ll often tell you it’s money and how to handle it correctly!

In Why Didn’t They Teach Me This In School?, Cary Siegel, retired business executive, takes you through 99 financial principles that you’ll be glad to learn.

He’ll also explain eight innovative money lessons he claims should be teaching students before they get into college or university.

Initially, Siegel had written the book to help his children with their finances.

But, the book eventually got so many positive reviews that it’s now made its way onto countless bookshelves of students who need help with money.

Packed full of money lessons, advice, and first-hand lessons for a retired business professional is a must-read!

Why Didn’t They Teach Me This In School is an excellent, easy-to-read book, ideal for anyone wanting to get their finances on the right track.

Personal Finance Books

Your Money Or Your Life By Vicki Robin And Joe Dominguez

For more than two decades, Your Money Or Your Life has been a best-selling personal finance book for college and university students.

In the book, authors Vicki Robin And Joe Dominguez detail a total of nine simple yet highly effective steps you can take today to achieve financial independence in the future.

Your Money Or Your Life is filled with information on how you can avoid falling into un-payable debt.

And how to incorporate intelligent financial habits into your life without restricting your budget too much!

As a fantastic bonus, the book also takes a more eco-friendly approach to personal finance. It’ll discuss how good fiscal habits can reduce waste and help protect the environment.

Review] Your Money or Your Life by Vicki Robin and Joe Dominguez | Personal Finance Books

The Total Money Makeover By Dave Ramsey

Are you struggling with high-interest credit card debt or student loans?

If so, then The Total Money Makeover by Dave Ramsey is most certainly worth checking out!

As a New York Times best-seller, this book will eloquently explain how to get yourself out of debt and improve your overall financial health.

Filled with many solid pieces of financial advice, you’ll learn how to avoid financial pitfalls like cash advances, rent-to-own schemes, and using unnecessary credit.

Lastly, Ramsey will also explain his famous “Snowball Method” to help you pay off debt quickly. And how to save for retirement, and how to start an emergency fund.

The Total Money Makeover + Workbook - Personal Finance Books

I Will Teach You To Be Rich By Ramit Sethi

Whether you’re in your first year, second year or you’ve already graduated, paying off debt is hard.

Student lines of credit, loans, and other types of debt are often some of the biggest financial roadblocks you’ll ever face.

In his book I Will Teach You To Be Rich, Ramit Sethi takes you through some of the best advice for getting ahead with your finances.

You’ll also find a wide range of helpful advice about student finances. Including scripts you can use to save money by getting yourself out of paying late fees for missed payments.

Sethi also provides his readers with a range of simple yet effective advice for investing, buying your first home, and making other large purchases.

I Will Teach You To Be Rich by Ramit Sethi |

The Best Personal Finance Books For Students

In the end, your financial health is almost just as important as your physical and mental health.

That’s why it’s crucial to gain control over your money as soon as possible.

This way, you’ll avoid making the most common money mistakes students make and learn how to invest in your financial future!

The Worst Money Mistakes Students Make In 2021

Are you tired of making the same money mistakes as everyone else? Want to avoid the most common pitfalls students fall into every day?

As a student, there’s no doubt that you’ve at least heard of the stereotypical starving student.

You know, the student who eats nothing but Ramen noodles for breakfast, lunch, and dinner. And, who only earns enough just money to pay their bills, without their work life having a negative impact on their studies.

Unfortunately, this stereotype is all-too-common among college and university students.

No matter how you look at it, it can be challenging to balance your school work with financial responsibility. Especially when you’re first starting out in college or university,

And that’s why we thought it’d be a great idea to create the following blog post on the top 5 worst money mistakes students make every semester.

Keep reading, and below, we explore what you should avoid doing with your money while you’re in college or university.

1 U.S.A dollar banknotes

Eating Out Too Often

Restaurants are a great place to gather with family, friends, and loved ones.

Plus, they’re convenient, which makes them powerfully alluring, especially for students with their already-busy schedules.

However, restaurants are also expensive.

To illustrate how expensive it can be to eat at a restaurant, consider this:

The average at-home meal only costs you about $4 or $5 in groceries, and you usually still end up with leftovers.

On the other hand, a meal at a restaurant, on average, costs about $14, which is a staggering 325% more expensive than your $4 meal at home.

Plus, there’s also the expectation that you should tip your server when dining at a restaurant.

This only adds to the amount of money you’re wasting.

Instead of wasting your money at restaurants, it’s a better idea to hit up your local library.

Or browse a book store and find a few cookbooks that seem interesting.

Get creative, try new foods, and in no time, you’ll learn to appreciate that eating at restaurants isn’t all as cracked up as it’s thought to be.

dish on white ceramic plate - Money Mistakes

Ordering Take Out Too Often

With the handful of food delivery apps on the market today, it’s easier than ever to order your next meal. This saves you both time and effort during your already-hectic school weeks.

But, just like eating at restaurants, ordering take out food is expensive and overpriced.

Plus, you’re also expected to add a tip or gratuity to your delivery person, adding to the overpriced cost of take out.

Whether you dine in or order take out, restaurant food is ALWAYS going to cost you more than a visit to the grocery store.

And most times, what you order will only feed you for a single meal.

Therefore, instead of opening Uber Eats and ordering delivery from the restaurant up the street, it’s a better idea to spend that money on food from the grocery store.

clear glass bottles on gray concrete floor - Money Mistakes

Drinking Alcohol And Partying

Just because you’re studying in college or university doesn’t mean that you shouldn’t go out and have fun with your friends.

However, it does mean that you should keep a watchful eye on how much you’re spending on alcohol, marijuana (if it’s legal where you live), and going out at night.

Especially if you’re going to a local bar or club! Understand that these places serve food and drinks to make a profit.

Meaning that they are considerably more expensive than if you were to buy and consume these things at home.

Don’t deny yourself the ability to go out and have fun. But do make sure you’re not spending more money than you can afford.

Whether you’re going to the campus pub to meet with friends, family, or a steamy blind date, your money can truly be spent better elsewhere.

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High-Interest Credit Cards

As soon as you came of age, you were probably offered a credit card.

Usually from your bank explaining that it will help build your credit score for the future.

Of course, using a credit card and paying it off immediately is a great way to help build your credit score and access more credit in the future.

However, using credit can also be a slippery slope.

So always remember that it’s easy to spend your credit, but much harder to pay it back!

Especially when you’re dealing with credit cards that have interest rates ranging anywhere from 19% to 30% or more!

Of course, having credit available is a good idea in case of emergencies.

But if you need to use credit, it’s much more financial responsible to look into a student line of credit. Or, even a personal loan, which will usually have a much lower interest rate.

silver round coin on white ceramic pig coin bank - Money Mistakes

Not Saving Or Investing For The Future

Finally, another of the biggest mistakes students make is simply spending too much and not putting anything aside for the future.

Whether you’re in your first year of post-secondary or your last year, it’s vital that you start saving your money.

You might want to consider investing your money in stocks, bonds, or mutual funds.

Or, in the very least, start putting some money aside that you’ll allow yourself to touch for emergencies or once you’re graduated.

spilled coins from the jar

The Worst Money Mistakes For College And University Students

Of course, there are many other things that you can waste your money on foolishly.

However, eating overpriced food, drinking too much, using high interest credit, and not saving for the future are some of the most common expenses that are considered as wasteful.

It might be hard to keep a watchful eye on your finances, especially when you’re busy with school.

But, if you start taking control of your money now, I promise, you’ll thank yourself later!