By: Kati Krause
Are you still searching for the perfect gift for the young adult in your life? Why not pass along some of your financial knowledge? As the days get shorter and colder, there’s nothing better than sitting next to a warm fire with a great book. Gift a little wisdom and help them start the New Year off on the right financial foot. While this is not an all-inclusive list, these books are great place to start.
Cary Siegel originally wrote this book as a guide to pass down to his children as they entered adulthood. Luckily, he realized that personal finance skills are rarely taught in school. The book includes eight lessons that will improve money management skills. It’s an easy to understand read that focuses on the qualitative rather than the quantitative side of personal finance.
David Bach does his best to give readers a plan they can put into practice. Bach’s advice goes against most of the things you’ve likely been taught your entire life. For example, he claims you cannot get rich with a budget! Bach starts by sharing the story of an average American couple, and through this story the reader will learn how to automatically pay themselves first with the goal of securing their future and paying for their present.
Do you know a cash-strapped 20 or 30 something that’s tired of living paycheck to paycheck? If so, then this book might be the perfect gift! Erin Lowry gives a step-by-step plan on how to get your finances in order. Lowry takes a different approach to explaining money topics by discussing situations most young adults face every day. For example, how to manage student loans and understanding your relationship with money. Lowry shares simple advice and true stories designed to help the financially clueless millennial get their life together.
If the young adult in your life has their financial life in order and has built up a nest egg, the next step for many is to start investing that money. Book 2 in the Broke Millennial series, Erin Lowry answers many of the common questions investment rookies have. Lowry offers a hands-on guide that explains topics ranging from common terminology to investing while still paying down student loans. This easily digestible read will have the reader confidently investing and on their way to building wealth.
Send them this blog for a little background reading as well: I’m Ready to Start Investing! How Do I Start?
5. Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
For many years, this book has been considered the go-to book for taking back your life and getting your finances in order. Vicki Robin gives readers nine steps to learn how to live more intentionally and meaningfully. This book is great whether you’re just starting out or heading into retirement. Robin tackles topics that include getting out of debt, saving money through good habits and investing these savings to begin creating wealth.
Have you read a book that you think needs to be on our list? Let us know!
You can also check out our favorite Financial Podcasts here!