Today was our first day of school! It was a whirlwind day today and a whirlwind weekend to prepare for their arrival. This is why my post is coming out much later in the day than usual: I didn’t have much time over the weekend to spend writing because I was sorting supplies and writing lesson plans for the week.
This year I am at a new school (and it’s amazing). We are really focused on reading as part of our school culture. Our Assistant Principal has challenged us to create reading challenges for our students. They can earn badges and prizes for reading X number of books from a Teacher’s Reading List Challenge. While this hasn’t been formalized online or rolled out to students, I immediately thought of doing a Financial Literacy Challenge. So in honor of our school’s reading challenge, I am sharing my top 5 finance books every millennial should read. Happy Math Talk Monday! Talk to you Friday!
- Why Didn’t They Teach Me This in School? 99 Personal Money Management Principles to Live By by Cary Seigel
- This book was my introduction to ways to save money beyond just “pay yourself first.” It has short 1-2 page chapters with tips and tricks for success from what not to ever spend your money on to relationship advice to explaining some basics of investing. For something manageable to chew on during a break or right before bed, flip to any chapter of this book and start improving how you adult.
- The Simple Path to Wealth by J.L. Collins
- Once you are ready to go past saving and not spending frivolously, start investing according to Collins’ guidance in this book. Written in plain English, anyone who reads this book will understand why they should begin aggressively investing in low cost index funds.
- Meet the Frugalwoods: Achieving Financial Independence through Simple Living by Elizabeth Willard Thames
- So once you are on the index fund train, you might start thinking about how you can get more money into your accounts and sooner. Thames writes a beautiful memoir about shedding the weight of consumerism and the cosmetic/fashion industries in order to find happiness and achieve financial independence in her early 30s.
- Your Money or Your Life by Vicki Robin
- Along the same lines as Frugalwoods simple living, Robin takes you through a 9 step process to valuate your real hourly wage and evaluate your spending according to the number of hours you spent earning that purchase or expense. She has a radically different mindset about the meaning of money in our lives. Much of the book is about aligning your spending with your life’s purpose. I am actually currently reading this book.
- Set for Life: Dominate Life, Money and the American Dream by Scott Trench
- A book written for millennials by a millennial. A much more direct explanation about how you should live your life and manage your money if you ever want to be free from working the same old 9-5 cycle. Trench focuses on real estate and house hacking as a main strategy for building wealth.