Best Books To Become Financially Literate

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Although financial literacy has become a big issue in the zeitgeist in recent years, it remains one of the most elusive topics to discuss. For one, there are so many layers to unpack—personal finance, investing, loans, budgeting, ahh!—and with inflation currently on the rise and a recession looming, most people don’t even bother to delve into the subject. . However, you can never have too much knowledge and maybe one of these 15 financial literacy books will help you manage your hard earned money better, even if you have no desire to be an investor of any kind.

Best Books To Become Financially Literate

This is without a doubt the most popular book on personal finance. It outlines the money lessons that Kiyosaki learned from his two fathers – his own father and the father of a friend, who is the “rich dad” in the book. Kiyosaki advises readers why they don’t need to make a lot of money to become rich, breaks down the difference between an asset and a liability and challenges the idea that a house is an asset.

Rich Dad, Poor Dad: What The Rich Teach Their Kids About Money

Key Takeaway: The snowball method – a debt reduction strategy where you pay off your smaller debts first, then use the money you were putting towards that payment to pay off your bigger debts.

Nothing is more detrimental to your financial well-being than a seemingly insurmountable amount of debt. And when you don’t have a game plan for management, you can find yourself in an even bigger financial hole. Thanks to this

Best seller, which should not be you. This book offers a plan to pay off debt, dispel some money myths and can help secure a nest egg for major emergencies or retirement.

Key Takeaway: How to get “financially naked” with your partner and discover his number (debt).

How Money Works: The Facts Visually Explained (dk How Stuff Works): Dk: 9781465444271: Amazon.com: Books

It is suitable for those 20 to 30 years of age who are constantly cash-strapped and cannot understand how to make their money work for them.

Also outlines how to deal with awkward scenarios IRL, i.e. what to do when you can’t afford to split a fancy dinner bill evenly – which many millennials do.

Maybe you are not swimming in debt and your finances are quite stable. This book could help you take things to the next level. Financial expert Bola Sokunbi explains how you can better monitor your expenses, build a budget and really stick with it, so even if you’re not a big earner, you’ll still have dough in the bank.

Key Takeaway: It’s important to understand if you have a “don’t make enough” problem or a “spend too much” problem. The distinction is not always as simple as it seems.

The 7 Best Finance Books For Teens In 2023

Of course, Aliche could have stopped to explain the ten-step process that helped put him on the track. But what makes this book even better is the fact that she includes advice from experts – aka “budgenista boosters” – she relies on herself, so you get gems of financial wisdom from some of the best financial advisors without breaking the bank. The book also comes with helpful checklists, worksheets and a resource toolkit so you can actually formulate a plan as you go.

Hailed as one of the best books on being frugal, personal wealth and financial planning, it’s no wonder.

It is still in circulation almost 100 years after its publication. It is a collection of parables told from the perspective of a fictional man named Arkad who came from being a scribe to hide so much wealth that he became the richest man in Babylon. Through his journey, readers receive lessons on how to not only generate wealth, but also protect and invest money wisely.

Century, Benjamin Graham wrote this for people who are wealthy enough to make substantial investments. However, just because you are a strong earner does not mean you will be a wise investor. That is why this “stock market bible” is full of advice that can protect new investors from making substantial mistakes and teaches them to develop long-term strategies with their money.

Financial Literacy Books To Help Your Teen Start Off Right

The idea of ​​living beyond your means to keep up appearances and fit existed long before social media amplified it. And that’s why this masterpiece by Thomas J. Stanley is a classic. He details how the less wealthy have fallen into the trap of the elite luxury brand that prevents them from acquiring wealth. He also suggests that emulating the working rich is a better strategy than trying to copy the lifestyles of the super elite.

This witty take on investing challenges the notion that you have to sacrifice the things you love in order to invest. What Sethi teaches instead is how to strike a balance between all the little splurges—ie. mani-pedis, your daily cup of coffee, ordering takeout etc.-and allocate your finances to the right place.

10. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them by Antony Lewis

To most people, crypto, bitcoin and NFT talk almost sounds like Klingon. However, there are many people who have really understood it and are making a killing in the world of cybercurrency. If you think you need to put at least a few dollars in that world, but you don’t know how it works, this may be the book for you because it answers all your questions about cryptocurrency and outlines how the market works. .

Personal Finance For Dummies: Tyson, Eric: 9781119517894: Amazon.com: Books

Although being a budget master and an excellent mathematician can make you a good money manager, this book urges you to analyze your relationship with money on a deeper level. Do you have any financial trauma? Are you spending to feed your ego? What preconceived notions do you have about money?

Is a compilation of 19 short stories that explore the different ways people think about money and teach you to make better sense of your relationship with Moolah.

It’s all about managing your relationship with money through a non-mathematical lens. This nine-step program focuses more on teaching how to spend deliberately and meaningfully rather than just resorting to a plan.

13. Student Loan Solution: 5 Steps to Take Control of Your Student Loans and Financial Life by David Carlson

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With approximately 92.8 million Americans riddled by student loan debt, this book is a useful guide on how to get a handle on your finances, whether you’re fresh out of school or have been working for a while. With the five steps provided, you will better understand your loans, discover what options are available to you and learn how to improve your financial life more while paying off your student loan debt.

One of the biggest mistakes people make—especially after they graduate—is to put off financial literacy until they do more. However, Chelsea Fagan has geared this book towards her fellow millennials as a way to get everyone on the financial bandwagon sooner rather than later. There are expert tips to be found, as well as advice on how to create a budget-friendly wardrobe, how to negotiate a salary increase and how to do well with money in a year.

15. Why Didn’t They Teach Me This In School?: 99 Personal Money Management Principles To Live By by Cary Siegel

Honestly, how many times have you asked yourself this question after finding out about taxes, mortgages, deductibles or some other adult thing that you didn’t educate yourself about? Siegel originally wrote this book as a personal financial guide to give to her children as they enter adulthood. However, as he grew up, he realized that our school system was lacking in money management education. Thus, he developed eight important lessons on money management, focusing on 99 principles that will quickly and seamlessly increase the aspiration of any individual.

The 7 Best Finance Books For Kids

Steph is a native Zimbabwean who is both enamored and genuinely shocked by the concept of silent letters. From 2020 to 2022, he served as Associate Editor covering…

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