Financial literacy is important. You already know that. What you may need help with is finding the resources that fit your situation. Of course, I am here to help. This installment is for college students. and recent graduates. I will follow with additional reading lists for groups otherwise situated. Whatever your group, financial decisions are more personal than even your group can understand. Make them with the best information available. Make them in consultation with support from family and financial professionals. And, make them in accordance with your personal goals.
Repeated Disclaimer: I don’t necessarily agree with all the suggestions in every text, but being well read is not just about agreement. You will want to utilize the texts as an opportunity to identify the choices you must face in relationship to finance, wealth, and lifestyle. Make the choices that best fit your unique situation.
Financial Literacy for Millennials
by Andrew O. Smith
I recommend this book in agreement with the topics it covers. It provides a basic understanding of the major topics a new grad or student would need to know. Understanding how financial literacy impacts your life, now and in the future, is an important achievement within itself.
Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live By
By Cary Siegel
I recommend this book though I don’t agree with many of the 99 points to live by. I include it because each of those 99 are choices that you must make, not to follow what the book suggests blindly, but to explore your own situation, goals, and approach to determine the most sustainable option for you. You will encounter each of the choices. What you choose should be more personal.
Landlord Away Your Student Loan Debt
By Michael O’Dell and Lela O’Dell
I recommend this book for two reasons. First, it provides you with the much-needed presentation about loans and loan consolidation, which is a free service that you should never pay for. Second, it takes this and other information tips into the realm of real estate investment. It also includes the challenges and suggestions for managing tenants and renovations. This is a solid foundation as you determine what investments you will make toward wealth creation, if that is your goal.
Basic Understanding of the Stock Market: For Teens and Young Adults Book Four
by Ron Hudkins
I recommend this as an introduction to the possibilities of wealth building—a lesson that will come in handy sooner rather than later. As with every book, don’t worry about the depth. Focus on 1) having enough information to determine when it is time for you to learn more on the subject and begin to invest, and 2) conceptualizing the difference between a beginning, intermediate, and expert knowledge of the subject would entail.