The holiday season is upon us, and we know all too well that the search for memorable gifts for friends and family can be a daunting task. This year, consider giving a book that not only tells a story but also provides practical financial lessons readers can use in real life.
The best gifts are personal and leave the reader with knowledge they can put into action. With that in mind, we have curated three personal finance book gift ideas that can appeal to different generations within a family and help spark healthy conversations about money and wealth.
Book 1: Learning From Market Crashes
1929: Inside the Greatest Crash in Wall Street History – and How It Shattered a Nation by Andrew Ross Sorkin
Our first recommendation is 1929: Inside the Greatest Crash in Wall Street History – and How It Shattered a Nation by Andrew Ross Sorkin. This is an ideal gift for the young adult who has recently started their career, is in the early stages of their investing journey, and has mostly experienced markets that seem to go one way up. This financial history book tells a gripping story of the historic stock market crash that preceded the Great Depression.
Sorkin’s earlier book, Too Big to Fail, about the 2008 financial crisis was turned into a movie, and he co-created the television series Billions, so it is no surprise that 1929 has dramatic flair, vivid storytelling, and unforgettable characters. Markets rarely collapse for a single reason, and we appreciated how Sorkin’s research highlights the people and events that contributed to the market’s downfall. Millennials and Gen Z investors will be well served to learn that easy access to credit, rampant speculation, and unbridled exuberance are classic warning signs of trouble in financial markets.
Book 2: Building a Strong Financial Foundation
The Wealthy Barber: The Common Sense Guide to Successful Financial Planning by David Chilton
Our second recommendation is The Wealthy Barber: The Common Sense Guide to Successful Financial Planning by David Chilton. This is a great option for someone who has accumulated some wealth but is facing decisions ranging from buying a first home to evaluating new types of investments such as cryptocurrencies.
The original edition was published 36 years ago, but Chilton spent over a year researching key topics to adapt the book to the realities facing Canadians in 2025. Through a cast of characters including a teacher, an entrepreneur, and a new immigrant, he captures time-tested ideas such as the importance of paying yourself first and monitoring spending habits.
We also appreciated how Chilton addresses today’s realities of side gigs, the benefits of exchange-traded funds (ETFs), and Tax-Free Savings Accounts (TFSAs). Real estate investing has changed significantly over the last four decades, and he does an admirable job of exploring a dilemma facing many young Canadians. For readers looking to strengthen their personal financial planning foundation, this remains one of the most accessible and useful financial books for Canadian families.
Book 3: Spending With Purpose in Retirement
The Art of Spending Money: Simple Choices for a Richer Life by Morgan Housel
Our final personal finance book gift idea is ideal for the baby-boomer parent or grandparent who is at a more advanced stage of their financial journey. We found The Art of Spending Money: Simple Choices for a Richer Life by Morgan Housel to be both insightful and uplifting. With good fortune and hard work, some family members have accumulated impressive nest eggs. The challenge now is how to spend and derive real value from this wealth.
We were intrigued by Housel’s storytelling about families, including the Vanderbilts, who allowed their vast wealth to encumber their behaviour and decision-making, ultimately leading to significant wealth destruction. More broadly, the message that true wealth is more about peace of mind than material possessions resonated deeply. For many people, the mission becomes so focused on wealth accumulation that they lose sight of the underlying objective.
Housel highlights the importance of finding a purpose for your wealth and using money to support your family, a charitable endeavour, or a cherished hobby. For retirees or near-retirees, this makes an excellent complement to more technical wealth management books, because it focuses on how to live well with the resources you have.
Bringing It All Together
If you are looking for thoughtful financial book gift ideas this holiday season, these three titles offer something for every generation:
- A market history lesson for newer investors
- A personal finance classic for Canadians building their foundation
- A reflection on spending with purpose for those approaching or in retirement
Avoid the headaches of last-minute shopping and gifts that quickly fizzle. Instead, consider book gifts that will not only entertain but also help your loved ones become a little wiser and more confident about money. From our team at Kerr Financial, we wish you and your family a happy and healthy holiday season.
