Question : Can anyone recommend a good personal finance book for young adults?
I have a 19-year old brother in college and I want to get him started on managing his personal finances so he's in better shape than I am when he gets to be my age. I'm 30 and have just recently begun to held a grip on my financial situation.
- asked by mzmexico
All Answers:
Answer #1
"Rich Dad, Poor Dad" by Robert Kiosaki, actuallyhe has a whole series of books, but this is a goodone to start with.IT will help reprogram themisconceptions that today's society places onpeople..
- answered by m34tba11
Answer #2
Suze Orman "The Money Book for the Young,Fabulous, & Broke" is really easy to read and isdivided into logical sections.Liz Pulliam-Weston"Your Credit Score: How to Fix, Improve, andProtect the 3-Digit Number that Shapes YourFinancial Future" is a bit dry, but offersvaluable information.Clark Howard has podcastsfrom his radio show that are archived on hiswebsite... perhaps you could burn the MP3s to aCD?I really like David Bach's works, but that maybe a bit too much for him at 19.
- answered by Sarah K
Answer #3
Personal Finance for Dummies. Simple andcomprehensive, covering retirement planning,insurance, money saving and budgeting tips,investing, taxes, real estate, and more.Also agood list at thisURL
http://www.moneyandfreedom.org/resources-basicsofpersonalfinance.htmlBe blessed,
- answered by Ethan
Answer #4
Dave Ramsey has a couple of wonderful books. Deals with common sense approach to personalfinance (debts, savings, investing).As a sidenote, Ramsey is an advocate of no debt and savingfor large purchases. My 19 yr. old son listens toRamsey with me and is "on board" the program. His19 yr. old buddy just bought a new truck paying$250 a month (I can only imagine the length ofthat loan). My son said he spoke to his friendabout saving and not going into debt. His friendsays it is the AMERICAN WAY to have debt. Prettysad.
- answered by cramer.fan
Answer #5
For a person just starting out, I'd recommend "TheWealthy Barber" by David Chilton.It is anexcellent beginners book as the book tells a storyand has a plot, rather than giving a technicaloverview to financial planning. I think thishelps keep beginners interested in the topicrather than scaring them off with a bunch of stuffthey don't understand.The plot revolves around 3people, the main character (Dave, a teacher), hisself-employed, wealthy sister (Cathy, LandscapeBusiness owner), and their friend (Tom, a plantworker). Dave goes looking for financial adviceand after asking his father, he is pointed to Roy,the town barber. The 4 of them have monthlymeetings as they get their hair cut, where Royteaches them a tidbit on financial planning ateach meeting. The topics covered include The TenPercent Solution (fun money for retirement), Willsand Life Insurance, Planning for Retirement, RealEstate Investment, Saving, and Taxes.The bookisn't a complete guide to financial planning. Itwill definately give a person a good start, butfurther research is required to get a completepicture of personal finance and financialplanning.You might want to check out classes atthe local colleges or community colleges. I tooka Personal Financial Planning as an elective formy MBA and it was the most useful class I hadtaken in my educational career. Personally, Ithink Personal Finance should be required for allUndergrad degrees if not for all high schooldegrees.
- answered by Slider728
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