Resources

Resources to Increase Your Money Management and Financial Literacy

Financial literacy has mostly been left out of most school’s curriculum, and is generally left up to families and individuals to learn themselves. Even at home it can be hard to discuss financial literacy , as there can be a taboo around money discussions.

I have listed some books below (amazon affiliate) that have value in providing you with the skills and tools you need to be able to take control of your finances, and eventually experience financial freedom.

Think and Grow Rich

Napoleon Hill’s book Think and Grow Rich provides 6 timeless practical steps applied to those who desire to be rich. The practical steps include:

  1. Fix a definite amount of money that you would be happy with.
  2. Determine what you will provide in return for that definite amount of money specified in point 1.
  3. Develop a plan, including a timescale of when you want to have the money defined.
  4. Create a definitive plan of how you will achieve the money in that timescale, and start carrying the plan out immediately.
  5. Writ out a clear description of the above 4 steps.
  6. Read the description two times each day out aloud , and start to see yourself already in possession of the defined amount of money.

An excerpt can be found here.

Buffettology

Mary Buffet and David Clark’s book Buffettology is a book that describes the methods of value investing used by Warren Buffett. Don’t know who he is? Warren Buffett is one of the most successful value investors in the world. He currently has a net worth of $85.2 billion dollars.  The book is written by Mary Buffett who was the ex-wife of Peter Buffett, Warren’s son. Once Mary and Peter got divorced, Mary was able to write about the successful techniques that had made Warren so rich. Buffettology  describes:

  • the investing strategies of Warren Buffett
  • the mathmatical tools of the trade for valuing companies
  • the types of companies to invest in.

Mary Buffett and David Clark have also created the Buffettology Workbook, which implements a lot of the techniques and skills found in the book.

An excerpt can be found here.

The Intelligent Investor

You can’t mention Buffettology without mentioning the The Intelligent Investor written by Benjamin Graham. Benjamin

Graham, the teacher of Warren Buffett, is widely known as the father of value investing. His book, the Intelligent Investor has been refereed to the “stock market bible”.  The book combines the teachings of Graham, and encourages people to focus on the intrinsic value of a company, rather than the external market conditions.