FINANCIAL LITERACY BOOKS EVERYONE SHOULD READ!!!

Financial literacy is such an important aspect that everyone should educate themselves about. Truthfully majority of us did not get such knowledge when we were young as it is not taught in schools and rarely do parents ever talk about finances. Learning about how to manage your money is good as it benefits you and you can also pass on such knowledge to your children or other people around you.

There are some books that are really useful as they can teach you a thing or two.
The Smart Money Woman by Arese Ugwu.
This book literally grabs your attention because it does not go into giving you financial information like as if it is a lecture. It tells a story of a working class lady who is full on in debt and she is almost being kicked out of her house due to lack of rent. The book explores all the steps she took to get out of debt which included tracking her expenses, diversifying her income sources, selling off items she did not need and budgeting for her income.

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Some of major things this book talks about are budgeting. The main character had her group of friends and one of them was so good with budgeting as she had siblings to take of. She had various accounts and each had its own purpose as there was one for daily expenses, another for her brothers tuition and needs among others. Money not budgeted for disappears as you use it for anything even for unnecessary things.

This book has been made into a movie though I have not yet watched it.

The Richest Man In Babylon by George Samuel Clason.
This book is really good for any beginner that wants to start their financial literacy journey.
This book is also in a story form of a gentleman who starts working if I recall well and he sought advise on how to make financial wealth.
This book goes in depth of the steps to take the moment you start earning money and this include;

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Saving 1/10th of your income every time you earn however little it may be. This is because it accumulates with time and becomes substantial if you are consistent with putting such a sum aside. When it becomes substantial, then one has to look for worthy causes in which they can invest in this amount. One has to be aware that they have to research thoroughly so that they are not scammed.

Last but not least is The Millionaire Teacher, The nine rules of wealth you should have learned in school by Andrew Hallam.
This book is about a teacher who manages to make himself a millionaire by following certain rules.
One of major things this book propounds on is living below your means so that you save the rest of your income and invest it. However, he advises that you should not do it to the extremes. He also talks about some of the things you can invest in and he goes in depth to talk about the American Stock market. He advises that one should not invest in hedge funds or even mutual funds because these have high fees involved. They may not be diverse and they may not be able to withstand market crashes.

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The book advises the that instead one should consider index funds like Vanguard because these have little fees and they are diverse as one has a portfolio that has both bonds and stocks and elaborates further on the percentages each should hold. He advises that such withstand crashes of the financial market in that even though the value may go down, it is way better than that of the other funds.

Thank you for reading.❤️❤️