Personal finance isn’t really taught in schools, but it should be. You probably won’t often find yourself in need to compute for the area of a trapezoid, but you need to know how much your credit card interests are adding to your bills.
What’s more, knowing how to manage your money well is a great skill to have, especially if you’re a young adult just starting to build your wealth.
According to industry reports, 25 percent of Americans do not have emergency savings. And in times such as an unexpected pandemic, your savings can literally save you.
You’ll learn this, as well as other financial lessons like debt payment plans, insurance, and investment with personal finance lessons.
Learning Personal Finance Through Books
Just because you’re not in school anymore doesn’t mean it’s too late to learn about personal finance. Plenty of experts have written books on the subject; you just have to find the right one for you.
Before taking your credit card out for another purchase, consider signing up for a library card instead and check out these books about personal finance perfect for young adults and beginners.
Broke Millennial by Erin Lowry
With the full title “Broke Millennial: Stop Scraping by and Get Your Financial Life Together,” you can already tell author Erin Lowry isn’t here for your excuses.
In the first installment of the Broke Millennial series, the author imparts knowledge on how to “stop living paycheck to paycheck and get your life together.”
Perfect for clueless millennials, this book tackles financial situations that plenty of young professionals experience, from student loans to managing money in a relationship.
Dear Debt by Melanie Lockert
Perfect for young adults tackling debt or preparing for it, “Dear Debt: A Story About Breaking Up With Debt” is financial expert Melanie Lockert’s debut book.
The self-deprecating humor the author uses as she recounts her personal experience paying off her student loan will speak to many young people.
And with these personal stories come a wealth of financial advice, from knowing your triggers to avoid spending temptations to negotiating your salary.
Student Loan Solution by David Carlson
As of 2020, students across the U.S. have a total of $1.57 trillion in outstanding student loan debt.
The ever-increasing total is brought on by more and more students (54%) who need to borrow to cover their educational expenses. On average, a student takes on around $38,758 in loans.
If you’re one of the fresh college graduates tackling a sizable student loan debt, David Carlson’s “Student Loan Solution: 5 Steps to Take Control of Your Student Loans and Financial Life” is the perfect book for you.
This is an easy-to-read guide, thanks to its step-by-step approach. The author also recognizes that everyone’s student loan situation is different, so he offers different repayment options and strategies, as well as accompanying online tools you can use to start tackling your debt.
Work Optional by Tanja Hester
One of many people’s goals is saving money as fast as they could so they could retire early. After all, what’s all your savings for if you can’t enjoy the fruits of your labor, right?
Author Tanja Hester knows this goal all too well, so she wrote a book especially for young adults who want to get in and out of the workforce fast.
In “Work Optional: Retire Early the Non-Penny-Pinching Way,” you can learn how to map out your money goals so it’s easier to achieve financial freedom.
These are only four of the thousands of books on personal finance available for your perusing. Keep in mind, though, that the path to financial freedom is not just paved with books, but also perseverance and determination to succeed.