Your twenties are a time to have zero idea how to handle your finances and then later on figuring it out (kinda.) I never had the luxury of parents who sent me off to college with money, or even taught me how credit works. I learned a lot from running out of money, having bad credit, then learning how to save, invest, and pay off debt. Of course, trial and error is one way to learn, but books are another, and you don’t have to get a cash advance or sell your plasma for this one. Let’s dive into the books about money every 20 something should be reading.
Broke Millennial (Series) – Erin Lowry
The Broke Millennial series has got to be one of my favorite series on finances for young people. This is so timely for today’s generation and breaks everything you need to know down in a way that’s easy to understand. Everything from how to get income, what credit is and how it works, student loans, debt, negotiating a salary at work, investing, retirement, and how brokers work! Seriously if there’s only one book(s) that you read, I highly recommend anything from this series!
The 4 – Hour Work Week – Tim Ferris
This is a bit of a different take on money and work but still extremely important and eye-opening. I loved The 4-Hour Work Week for so many reasons but a few are how it opened my eyes to making my money work for me. The idea of working smarter, not harder is definitely something this dives into. Another beautiful reason why I love this one is how it breaks down your financial goals. There a ton of exercises and activities you can do outside the book as you’re reading each chapter. One of my favorites was the ‘Dreamline.’ This forced you to break down your Having, Beeing, Doing, and the cost of each. This helped me see where I really stand financially and how realistic my future goals are. Because of this activity, I can say by the end of 2020, I will have all my debt paid off in full!
How To Worry Less About Money – John Armstrong
I can’t lie, I was drawn to this book merely for the title and was taken on a journey I did not expect. When reading a title like, “How To Worry Less About Money” you expect meditation practices, the ‘art’ of letting go, and refocusing your attention, but it didn’t get into any of that mushy gushy stuff. Instead, it’s the opposite of what you think. John breaks down our consumer driven society and capitalist government and goes on to explain how money really isn’t ‘real.’ We invented it’s value and opportunities. It also explains how money is just one simple ingredient in life. I truly feel this is a book one should read if they are a workaholic, or frustrated with where they are at in their life. It truly helps you see money in a whole new way, and ultimately, worry less about it.
The Total Money Makeover – Dave Ramsey
Okay Dave Ramsey has been known to be the height of financial intelligence but it wasn’t until my now, late twenties, that I started to read some of his work. The Total Money Makeover is all about starting new, and changing your life around for good. Say you’re really bad at saving, or your thousands of dollars in debt, this book helps you find the practical ways to get yourself out of a slump and into a safer, debt free place. Although I don’t practice everything he teaches (paying off your debt in full, or paying for items in cash) I have taken a lot of his advice into creating an emergency savings fund. Take it from someone who had $300 to her name and 5 jobs in NYC just two years ago, I fully understand the stress of being in a dark place and having to do just about anything to pull yourself out!
I hope you have read or will read some of these suggestions! More than that, I hope you learn how to handle your finances just a bit more and feel safer. At the end of the day, the knowledge you acquire from these books or real life lessons isn’t just to “get rich” or “work for yourself” but to enjoy your life. Have real freedom. What are you doing now to reach your goals? Share it with us in the comments below!