From lemonade stands as kids to 401k investments as adults, personal finance has surrounded our lives for as long as we’ve been alive. We all grow up learning the value of a dollar, and that there’s no such thing as a free lunch. Considering how ingrained finance and money are in our daily lives, it would be expected that most people feel like they are at least familiar with the basics of money management, right?
Wrong. Financial literacy in the United States is at an all-time low, with 78% of survey respondents agreeing that financial literacy is a huge issue in the country. From student loan repayments to simply how to budget, people are dangerously illiterate when it comes to how to manage their finances. In fact, when surveyed 1,100 18 to 24 year-olds were asked what high-school level class would have benefited their lives the most, a majority of 51.4% said a class on money management.
The good news is that if you’ve ever felt overwhelmed by all the terminology associated with money, from early career investments to how to invest, you’re not alone. If you never took a personal finance or money management class but want to improve your financial habits, there are hundreds of resources available to teach yourself. While personal finance books may not be the most exciting genre in the bookstore, they are by far some of the most helpful.
Teaching financial literacy early is important to ensure that you go out into the world knowing how to make smart financial decisions. The different stages of life you’ll go through, from a little kid with a piggy—bank to a newlywed with newly combined finances, will all bring different financial questions and difficulties of their own. Read more about the personal finance books that will help you make money moves and equip you with all you need to be money-savvy!
Sources: Investment News | Financial Educators Council | Investopedia (1, 2) | BookRiot | Money Prodigy | Martha Stewart Weddings | Business Insider | WallStreetMojo