April is financial literacy month, which is intended to empower people to understand and steward their money well.
This is a topic that I’m passionate about, because I believe that everyone should have access to the knowledge that will help them create wealth and stability in their lives.
In honor of financial literacy month, here are some ways you can improve your own financial knowledge:
1. Money books for financial literacy
If the idea of reading a money book sounds boring to you, don’t worry; there’s an option for you. You’re not limited to dry explanations about portfolio allocations and tax strategies. There are plenty of fun, interesting books that will meet you at your level. Books about mindset, budgeting and building wealth can apply to everyone, regardless of where you’re at now.
If you need some ideas, here is a list of some of my favorite money books.
The Investment Answer by Daniel Goldie and Gordon S. Murray – This book is jam-packed with investing wisdom, plain and simple. You can learn something from this book no matter what investing level you are at. The Investment Answer breaks down into five basic decisions to keep you focused and help you build a profitable portfolio.
The Automatic Millionaire by David Bach – Automating your funds can be a powerful tool for long-term financial success. This is a great read for anyone who isn’t really into budgeting. You’ll learn how to pay yourself first through automatic processes, which helps you hit your goals on a busy schedule. You could also check out Bach’s book for women’s wealth, Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams.
Work Your Wealth: 9 Steps to Making Smarter Choices With Your Money by Mary Beth Storjohann – Work Your Wealth isn’t your traditional personal finance book. Mary Beth Storjohann, CFP®, is a speaker and writer who cuts through the fluff and gives clear, concise financial advice.
Podcasts are a great way to learn something during the monotonous parts of your day. If you have a long commute or a huge pile of laundry to fold, you have an opportunity to improve your financial literacy.
The great part about podcasts is you can find one for absolutely anything, from basic budget advice to advanced investing strategies. You’d be surprised how much you can learn from even one podcast. If you want to improve your financial literacy, set a goal to listen to one new podcast a day, a week or a few times a week.
Here are some good ones to get you started:
Investing and financial planning
Stacking Benjamins – The Stacking Benjamins podcast is a unique mix of money and humor. Joe Saul-Sehy and his guests (including me!) have a great time, and the content is fun. It’s a good choice if you want a lighter money-focused listen.
Money for the Rest of Us – J. David Stein’s “Money for the Rest of Us” podcast is known for taking complicated financial topics and making them digestible for the average person. He was once a chief investment strategist and money manager. David has been in the industry for more than 20 years. Therefore, he knows his stuff. Most of the topics cover investment strategies, market behavior and the economy.
Her Money Matters – Jen Hemphill is a money coach whose podcast is all about real stories of money makeovers, mindset shifts and how your well-being impacts your financial life. It also gets into easy money-saving tweaks, parenting, budgeting and overcoming debt. Catch Jen’s episode with me about finding the right financial planner for you.
NPR Planet Money – Planet Money does a great job of taking the moving parts of the economy and making them entertaining and easy to understand, all with the storytelling finesse of NPR.
YouTube is a fantastic resource for financial information. There are countless videos that can teach you how to use budgeting programs, improve your investing, set money goals and more. The challenge with YouTube is that anyone can create videos; therefore, you have to be careful with where you’re getting your information.
Here are some reputable channels for quality financial information on YouTube:
His and Her Money – Talaat and Tai McNeely talk about money and marriage, and how to build financial freedom. They share videos about getting out of debt, handling money as a couple, investing and inspiring success stories.
The Financial Diet – This channel’s tagline is “Personal finance in a way that doesn’t make you want to curl up in a ball and cry,” so if you relate to that, this might be a good resource for you. The videos are accessible and easy to digest, and they cover topics for people at all stages of their financial journey.
Brittney Castro – Brittney is the in-house CFP® for Mint, and her content is short, to-the-point and easy to understand.
4. Financial Bloggers
If you prefer to get your financial information in quick, easy reads, then there are plenty of bloggers who do just that. Here are some of my personal favorites:
Your Richest Life – I had to include my own! My blog posts span a wide variety of topics, so there is something for just about everyone on their financial journey.
Her Money – This website spans several money topics, all geared toward empowering women to grow their wealth.
NerdWallet – I find that NerdWallet is a go-to for just about any personal finance money topic.
Gen Y Planning – Sophia is a good friend and an excellent financial planner, and her blog consistently puts out helpful, topical content.
About Your Richest Life
At Your Richest Life, Katie Brewer, CFP®, believes you too should have access to financial resources and fee-only financial planning. For more information on the services offered, contact Katie today.