Financial literacy is an important but often overlooked skill. Having a strong understanding of personal finance allows you to make better informed decisions and build towards the financial future you want, all while avoiding some common mistakes. One of the more effective ways to increase your financial knowledge is by reading books written by authors with experience in financial services.
Your journey to financial literacy begins with a willingness to learn and a commitment to continued improvement. One book won’t instantly give you financial freedom. It’s the pursuit of understanding your personal finances that will help set you up for your longer term goals.
While these books aren’t the only ones out there that will help you work towards those goals, they may offer insights, help you develop some healthy financial strategies, and give you tools for developing a strong financial mindset.
Frazier offers a refreshing departure from traditional financial advice. By recognizing the emotional underpinnings of women's financial decisions, Frazier offers a more holistic and empowering approach towards understanding finances. She challenges stereotypes and provides a framework for understanding how your personal values and self-worth influence your relationship with money. This book offers valuable insights and practical tools to help you achieve your goals with a relatable narrative.
Learn more about Fin(anci)ally Free: 11 Conversations to Have With Yourself About Life, Money, and Worth here.
Instead of focusing solely on formulas and data, Housel explores the psychological factors that drive our financial decisions. This book has 19 short and relatable stories to get you thinking about money. If you’re someone who wants to understand the emotional side of money management and develop a more nuanced approach to personal finance, this book may be for you.
Learn more about The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness here.
Another book that explores the intersection of psychology and personal finance, Monkey, Money, Mind examines the cognitive biases and emotional factors that drive our financial decisions. This book offers practical strategies to overcome common financial pitfalls, such as debt, overspending, and poor investment decisions. This book has everything from humor and insight, to a nicely organized narrative for an enjoyable read.
Learn more about Monkey, Money, Mind: How to Stop Monkeying around With Your Money here.
This book is intended for the audience named right in the title—young millennial adults. It may serve as a guide towards topics like budgeting, credit, debt, savings, and investing. It also explores broader financial concerns like career planning, starting a business, and avoiding scams. Building financial knowledge as a young person may only set you up for better success in the future and this book may be a nice start if you’re a young adult looking to improve your money management skills.
Learn more about Financial Literacy for Millennials: A Practical Guide to Managing Your Financial Life for Teens, College Students, and Young Adults here.
The Humanity Factor offers a refreshing perspective on financial planning, recognizing that it's not just about numbers but also about the personal and emotional aspects of our financial decisions. Unlike traditional approaches that may feel impersonal, this book focuses on what truly matters to you—your dreams, values, and aspirations. Legan's approachable style guides readers through a personalized process that encourages vulnerability and honesty, but also works to establish confidence around this topic. If you’re looking to learn more about a holistic view to your finances, this book may be a nice addition to your financial library.
Learn more about The Humanity Factor: A Heart-Driven Approach to Your Finances and Your Future here.
You aren’t expected to know everything about finance. But when it comes to your personal finance, it certainly helps having some level of literacy to understand your own unique situation. These books may serve as a guide to get you started, but plenty of other resources exist to help you build financial knowledge and plan for your retirement.
Interested in learning more about financial literacy and retirement? Consider attending one of our retirement seminars or webinars, hosted by experienced financial advisors who may be able to help you.
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