Book on Personal Finance/Budgeting for young adults

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Barefootgirl
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Book on Personal Finance/Budgeting for young adults

Post by Barefootgirl »

Can someone recommend a good book for college grads just starting out who need to learn how to budget, manage credit and start saving? (They are not yet ready to listen to their parents)

Thanks!
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dolphintraveler
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Re: Book on Personal Finance/Budgeting for young adults

Post by dolphintraveler »

This one is free and online and a great place to start:
https://www.etf.com/docs/IfYouCan.pdf
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BL
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Re: Book on Personal Finance/Budgeting for young adults

Post by BL »

dolphintraveler wrote:This one is free and online and a great place to start:
https://www.etf.com/docs/IfYouCan.pdf
+1
Amazon also sells a print edition as well as a Kindle edition if you prefer that for a gift.
I've heard good things about this book but have not read it:
The Index Card: Why Personal Finance Doesn’t Have to Be Complicated by Helaine Olen
FRANK2009
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Re: Book on Personal Finance/Budgeting for young adults

Post by FRANK2009 »

Even though I'm far older than the target for "If You Can", I read it out of curiosity. All I kept thinking was "I wish this book was around when I was a young guy." Great book!
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TomP10
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Re: Book on Personal Finance/Budgeting for young adults

Post by TomP10 »

The new book How to Think About Money by Jonathan Clements is first rate. I think it is my new favorite personal finance book. Covers a wide range of topics. If I could choose just one book for a young person, I think it would be this book

Two other books that I have found to be popular with college age kids

Total Money Makeover by Dave Ramsey --- they like his lessons on avoiding debt, living within your means; as has been commented on many times, his investment advice is dreadful

I Will Teach You to be Rich by Ramit Sethi. He writes for this age group. Very effective communicator.
"It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent." -- Charlie Munger
retiredjg
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Re: Book on Personal Finance/Budgeting for young adults

Post by retiredjg »

This one. I stumbled onto it 30 or more years ago although it is updated regularly. It is basic and kept me from making a lot of mistakes. It is more about good financial decisions than investing (or at least the one I read was).

Only Investment Guide You'll Ever Need, by Andrew Tobias
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Barefootgirl
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Re: Book on Personal Finance/Budgeting for young adults

Post by Barefootgirl »

Thank you, my daughter is very bright, but English is her second language and spending wisely seems to be her blind spot, not atypical for 25 year olds who think time passes slowly and they'll live forever.
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.
Texanbybirth
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Re: Book on Personal Finance/Budgeting for young adults

Post by Texanbybirth »

dolphintraveler wrote:This one is free and online and a great place to start:
https://www.etf.com/docs/IfYouCan.pdf
+1
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CABob
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Re: Book on Personal Finance/Budgeting for young adults

Post by CABob »

I like and often recommend beginners books by Eric Tyson such as Personal Finance for Dummies. I see that he also has some books aimed at the 20-30 year olds. I am not familiar with them but would expect that they are good.
https://www.amazon.com/s/ref=nb_sb_ss_c ... Caps%2C223
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Hawkeye_Saver
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Re: Book on Personal Finance/Budgeting for young adults

Post by Hawkeye_Saver »

I've always thought The Millionaire Next Door was a great book. Real eye opener.
Grt2bOutdoors
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Re: Book on Personal Finance/Budgeting for young adults

Post by Grt2bOutdoors »

Barefootgirl wrote:Thank you, my daughter is very bright, but English is her second language and spending wisely seems to be her blind spot, not atypical for 25 year olds who think time passes slowly and they'll live forever.
Those whose native tongue is English seem to have the same problem - spending wisely and saving/investing. She is not alone.
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Dottie57
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Re: Book on Personal Finance/Budgeting for young adults

Post by Dottie57 »

dolphintraveler wrote:This one is free and online and a great place to start:
https://www.etf.com/docs/IfYouCan.pdf

I agree wholeheartedly with hurdle #1. If you can't save (not spend) you will be poor. It is the first requirement.
buckstar
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Re: Book on Personal Finance/Budgeting for young adults

Post by buckstar »

The Wealthy Barber may be a good place to start, not a lot of nuts and bolts advice, but a good way to get her moving in the right direction.
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Miriam2
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Re: Book on Personal Finance/Budgeting for young adults

Post by Miriam2 »

One of the best "in-a-nutshell" easy to read little books is our own Mike Piper's "Investing Made Simple." It is short and thin (thus not intimidating) yet covers all the basics.
John Bogle, "The Twelve Pillars of [Financial] Wisdom"- Pillar 7: The Powerful Magnetism of the Mean. Reversion to the mean prevails, sooner or later, in the financial jungle.
terran
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Re: Book on Personal Finance/Budgeting for young adults

Post by terran »

I haven't read The Simple Path to Wealth, but the blog the author started with would be excellent for this purpose, so I can only assume the book would be just as good.
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