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5 Best Books on Frugal Living to Help You Save More & Get Out of Debt

Are you buried in debt and looking for a solution to get out of this hole!?

In this post, we’ll go over the best books on frugal living to help you get out of debt!

Debt is something we have all dealt with one way or another in our journey to financial literacy and financial freedom.

I have been paying my student loans for around 3 and a half years and have dealt with credit card debt as well.

Getting out of debt isn’t the only thing you should be looking to achieve with your personal finances…

You need a solid financial foundation for your future along with paying off your debt. The more you learn about financial topics, the more equipped you will be to manage your money properly in the future!

Otherwise, you may get yourself back into debt all over again due to poor spending habits. 

Enjoy these frugal living books and I hope you get inspired to create a better financial future for yourself!

About Me: My name is Miguel and I’m a simple living and budget spreadsheet advocate! I’ve been decluttering my life since 2018 and love everything simple living related. I aim to help you learn how to live a simple life, become intentional with your spending, and manage your money right!

Disclosure: This post may contain affiliate links, which means I’ll receive a commission if you purchase through my links, at no extra cost to you. Please read the full disclosure for more information.

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best books on frugal living

5 Best Books on Frugal Living to Help You Save More & Get Out of Debt

Here are the best books on frugal living and managing your money: 

  1. The Total Money Makeover
  2. The Spender’s Guide to Debt-Free Living
  3. I Will Teach You To Be Rich
  4. You Need A Budget
  5. The 9 Steps to Financial Freedom

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    1. The Total Money Makeover by Dave Ramsey

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    Dave Ramsey has been helping people get out of debt for years and has one of the most well-known frugal living books out there.

    The Total Money Makeover has been a tool for making a plan to pay off crippling debt and help you to break bad financial habits. 

    This book will help you get your finances in order by:

    • Helping you build a solid emergency fund
    • Live frugally to pay off debt
    • Heal your poor spending behaviors
    • Create a debt payoff plan
    • Build a nest egg for retirement

    2. The Spender’s Guide to Debt-Free Living by Anna Newell Jones

    The Spender’s Guide to Debt-Free Living by Anna Newell Jones;best books on frugal living

    A prolific spender, Anna Newell Jones knew she had to change her spending habits after her debt ballooned to almost $24,000!

    Anna shares her inspiring story of how she paid all $23,605.10 of her debt and gives tips on what worked and what didn’t on her journey to debt-free living!

    The Spender’s Guide to Debt-Free Living will give you tips on how she decided to go on a spending fast and share her own method of managing your spending. 

    Anna will teach you:

    • How to create a personalized Debt-Free Life Pledge.
    • About where your money is going when in debt
    • How to find side gigs and extra income sources 
    • How to re-integrate spending into your life once you’re out of debt. 

    3. I Will Teach You To Be Rich by Ramit Sethi

    I Will Teach You To Be Rich by Ramit Sethi; best frugal living books

    Remit Sethi the author of the best-selling I Will Teach You To Be Rich, emphasizes guilt-free spending on what you love and “cutting costs mercilessly on the things you don’t.” 

    Ramit Sethi is a personal finance expert and aims to help you:

    • Pay off debt and student loans faster
    • Set up high-interest bank accounts with no fees
    • Automate your finances
    • Save thousands and still buy what you love
    • Handle buying a car, or house, paying for your wedding, having kids, and other big expenses

    4. You Need A Budget by Jesse Mecham

    You Need A Budget by Jesse Mecham is one of the best frugal living books! 

    Jesse Mecham teaches how you can escape the paycheck-to-paycheck cycle and wants you to assign jobs for every dollar you have.

    This means becoming intentional with your spending, getting out of debt, and saving more money!

    You Need A Budget will teach you four simple rules to manage your money effectively:

    1. Give every dollar a job
    2. Embrace your true expenses
    3. Roll with the punches
    4. Age your money

    5. The 9 Steps to Financial Freedom by Suze Orman

    The 9 Steps to Financial Freedom by Suze Orman; best frugal living books

    Suze Orman is a two-time Emmy Award-winning TV host and New York Times bestselling author of numerous books. Her work as a financial planner gave her the knowledge to share about financial freedom. 

    For years Suze Orman has been helping millions learn about managing their money and aims to reduce the stress, anxiety, and fear around money.

    The 9 Steps to Financial Freedom gives you the “keys to providing for yourself and your family including:

    • Seeing how your past holds the key to your financial future
    • Facing your fears and creating new truths
    • Trusting yourself more than you trust others
    • Being open to receiving all that you are meant to have
    • Understanding the lessons of the money cycle”

    Benefits of Frugal Simple Living

    1. Pay Off Debt Faster

    No one likes debt and we all want it gone!

    Debt can be a large source of stress and anxiety like a storm cloud over our heads. But this debt can be paid off faster than you may think!

    Frugal living is a money-saving method to pay off your debt faster and live the life you want! 

    Paying off debt faster is one of the best benefits of frugal living!  

    2. Achieve Your Financial Goals

    If you’ve got important financial goals like me, then you know how important it is to save more money each month!

    Living frugally can help you to save more and prioritize where your money should be going. 

    Especially when these are large financial decisions like:

    • Buying a house
    • Buying a car
    • Saving for your wedding
    • Donating to charity
    • Saving for family vacation
    • Saving for your kids’ education

    Achieving your financial goals will give you way more freedom than needlessly spending on things you don’t need.

    3. Move Closer to Financial Independence

    Speaking of freedom, achieving financial freedom is one of the most sought-after financial goals!

    This is because financial freedom opens doors you may have never thought possible!

    Here are some of the AMAZING possibilities:

    • Traveling for long periods (or full-time)
    • Spending more time with family
    • Quitting your full-time 9-5 job
    • Pursuing your passions
    • Starting a business
    • Ability to take more risk with your career and life
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    FAQs 

    How Do I Start Frugal Living?

    In order to start living frugally, you need to first reflect on your finances.

    You need to start tracking your expenses and see where you tend to spend the most money. 

    If a lot of your money is spent on “wants” and not needs, you need to identify that area and create a plan to live frugally around that. 

    For example, one of my struggles has been eating out…

    To be more frugal around this weakness, I plan to go to the grocery store once a week (I skip weeks if I don’t need anything) and ensure I am meal planning ahead of time so that my meals are ready or at least can be cooked up in a short period of time. 

    This helps me to reduce my impulses with food delivery and wanting to eat out due to food not being ready or easy to prepare.

    So when it comes to your spending weaknesses, develop a plan to counteract your spending habits, and remember it’s a process!

    I’m still working towards creating better spending habits and you shouldn’t feel bad if you continue to struggle. 

    It takes time to undo these habits! 

    Is Frugal Living Worth It?

    Yes! Frugal living is worth it for so many reasons.

    Extreme frugal living can be very hard and unsustainable depending on your lifestyle, but if you’re looking for small ways to save here and there, you will be able to save so much more money!

    Even if you find frugal living tough, it can be a temporary solution to help you and your family get out of debt or achieve your financial goals. 

    Challenges You May Face When Living Simply and Frugally

    Managing your emotions and behavior are the major challenges you’ll face when it comes to living simply and frugally.

    This is because spending is a behavior-based habit that can be influenced by how you feel in the moment and by what you crave when it comes to food. 

    Solution: Overcoming your poor spending habits can be very challenging, however, you need to take practical steps to ensure you’re able to curb your spending habits:

    • Tip 1 Create a Budget: Living on a budget will help you to plan out your spending and become intentional with your money, instead of spending with no purpose. You also need to adjust your money mindset and embrace your financial goals around your money decisions!
    • Tip 2 Learn to Meal Prep: Learning to meal prep is vital to save money from spending money on food. Meal prepping will help you to prevent overspending with eating out and delivery. It doesn’t mean you can’t enjoy restaurants if you can afford it, it’s just a method to save more and eat consistently at home!
    • Tip 3: Save Items For Later: Saving items for later or keeping items in your cart are methods to curb your online shopping habits. In addition, wait a week or two in some cases to see if the item you wanted is something you still want. 

    Final Thoughts | 5 Best Books on Frugal Living to Help You Save More & Get Out of Debt

    I hope these frugal living books are helpful and give you great tips on your way to financial literacy!

    Educating yourself on financial topics is an excellent way to create a better financial future for yourself and your family.

    Good luck on your frugal living journey and I hope you accomplish your money goals and achieve financial freedom!

    About Me: My name is Miguel and I’m a simple living and budget spreadsheet advocate! I’ve been decluttering my life since 2018 and love everything simple living related. I aim to help you learn how to live a simple life, become intentional with your spending, and manage your money right!

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