Teaching young adults about money can be tricky. Money management skills are not typically taught in school, so it’s up to parents, guardians, and mentors to provide financial education and guidance.
Financial books for young adults can help bridge the gap to get them on their way to financial success. Each book provides valuable insight to help readers make better financial decisions and achieve their financial goals.
So, if you’re looking for a great resource to start your financial journey, these ten must-read financial books for young adults will provide you with the knowledge and tools you need to succeed.
Why it is Important to Teach Young Adults About Money
Young adults must learn how to manage their money to achieve financial success. With no basic understanding of finance fundamentals, such as budgeting, saving, and debt management, young people will find it challenging to grow their wealth and successfully plan their future.
With proper financial education, they can learn to save, invest, and manage their money wisely.
Furthermore, a good financial education can help them understand the impact of inflation, taxes, and other economic forces on their lives.
1. Why Didn’t They Teach Me This in School?: 99 Personal Money Management Principles to Live By, by Cary Siegel
Siegel’s book is a great starting point for young adults who want to understand the basics of personal finance. Initially intended for the author’s children, this book is perfect for beginners since it covers practical and easily digested principles designed to help readers understand the basics of personal finance.
That’s why this book is so beneficial for young adults; it gives you an introduction to financial literacy and the skills you need to be successful in the future.
2. The Teenager’s Guide to Money, by Jonathan Self
Written by Jonathan Self, this book provides a comprehensive overview of all the financial decisions young adults will encounter. This finance book for young adults is the perfect way to learn about money and the financial world in a way that’s easy to understand.
It covers topics like budgeting, savings, credit scores, and more, all with a friendly and approachable tone. This book is especially beneficial for those just starting, as it provides clear and concise guidance on making the most of their financial future.
3. Broke Millennial: Stop Scraping By and Get Your Financial Life Together, by Erin Lowry
Broke Millennial: Stop Scraping By and Get Your Financial Life Together is an invaluable resource for young adults looking to take control of their finances.
Written by Erin Lowry, the book offers practical advice and real-life examples of budgeting, saving, and investing. Lowry doesn’t just tell you what to do; she also explains why it’s essential, which helps to make the book a valuable resource for young adults.
4. How To Money: Your Ultimate Visual Guide to the Basics of Finance, by Jean Chatsky and Kathryn Tuggle
Money: Your Ultimate Visual Guide to the Basics of Finance, by Jean Chatzky and Kathryn Tuggle, is an essential finance book for young adults in their libraries. It covers topics like budgeting, getting a job, and student loans, and it also explains why these topics are essential for you to understand.
The book is full of colorful illustrations that make it easier to understand the concepts. And it includes plenty of real-world examples to illustrate the points.
5. Rich Dad Poor Dad for Teens, by Robert T. Kiyosaki
Rich Dad Poor Dad for Teens, by Robert T. Kiyosaki, is a must-read for young adults. It offers invaluable advice on money management, investing, and entrepreneurship.
Through Kiyosaki’s own experiences, you learn why it’s important to start building wealth at an early age, how to handle financial decisions responsibly, and how to think like an entrepreneur. By taking away the mystery of financial planning and speaking in terms young adults can relate to, Kiyosaki helps young adults build financial literacy and learn to make smart decisions regarding their money.
6. Dear Debt, by Melanie Lockert
Dear Debt by Melanie Lockert is the perfect book for you if you’re in your twenties and struggling with debt. It’s an honest, inspiring, and motivational look at overcoming debt, no matter how daunting it may seem.
Through her personal story, Lockert lays out a comprehensive plan for anyone looking to manage their debt and build a better financial future. With easy-to-understand advice and step-by-step instructions, this book is an invaluable resource for young adults looking to get their debt under control.
7. Quit Like A Millionaire, by Kristy Shen and Bryce Leung
This book is a must-read for any young adult seeking financial independence. It offers practical advice on creating passive income streams and investing wisely to achieve financial freedom.
It also explains why it’s essential to reduce living expenses and debt and how to do it. It’s a great resource for anyone who wants to understand better the basics of financial literacy and how to make the most of their money.
8. Financial Freedom: A Proven Path to All the Money You Will Ever Need, by Grant Sabatier
This book, by Grant Sabatier, is a must-read for any young adult looking to get ahead financially. Sabatier outlines the steps to save money, build wealth, and invest for a comfortable retirement while challenging conventional methods as incorrect or outdated.
The book is written in an easy-to-understand language so that young adults can apply Sabatier’s advice to their financial situation.
9. The Millionaire Next Door, by Thomas J. Stanley.
The Millionaire Next Door, by Thomas J. Stanley, is an invaluable resource for young adults looking to achieve financial success.
The book focuses on the habits of millionaires and how those habits can be adopted by anyone looking to become financially independent. It emphasizes the importance of living well below your means and setting aside a portion of your income for savings and investments.
His advice is invaluable for anyone looking to take control of their finances and build wealth.
10. I Will Teach You To Be Rich, by Ramit Sethi
I Will Teach You To Be Rich is a must-read for young adults looking to take control of their financial lives.
Written by entrepreneur and personal finance expert Ramit Sethi, this book teaches readers the fundamentals of financial success. We all know that money can be stressful, but this book shows you how to take control of your finances and make the most of your money.
11. I Want More Pizza: Real World Money Skills For High School, College, And Beyond, by Steve Burkholder
I Want More Pizza is a book by Steve Burkholder that teaches young adults financial skills that are essential for success in the real world. The book includes practical advice on making smart financial decisions, such as not taking on more debt than you can afford to pay back.
Overall, I Want More Pizza is an invaluable resource for high school, college, and beyond.
Summary: Setting Up For Success
For young adults wanting to secure their financial future, the books listed above can provide valuable information on money management and investing.
If you are starting your financial journey or looking for a refresher, these books are a great resource.
FAQs
What are the financial goals for young adults?
Young adults should have both short-term and long-term financial goals. Budgeting and developing good spending habits are the most important in the short term. From there, you can set goals like saving for a car or a home.
What is the best financial advice for young adults?
One of the best pieces of advice is to learn to budget. This means tracking your income and expenses and making sure you stick to the budget you set for yourself.
What is the best finance book for beginners?
For anyone looking to learn the basics of finance, there is no better book than Why Didn’t They Teach Me This in School? by Cary Siegel. The book contains practical tips and real-life examples, making it perfect for beginners.
How can I teach myself finance?
The best place to start is by reading books on finance. Many books cover the basics of financial literacy and offer step-by-step advice on managing your finances. You can also find helpful online resources like articles, podcasts, and videos.
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