Written By: Bibiana Owusu Prempeh Gyasi
For many of us, talking about money is a no-go area. I mean; we are young and life is short right? Why should we bother thinking about 5 or 10 years from now when we are not even sure we would be existing then?
You might probably be thinking like this all the time when your instincts tells you to put some money aside. I have been interested in the issues pf personal finance for a while and even though I hate maths and I haven’t done any money related course in my life, I was determined to learn about money and how to handle it.
Believe it or not, as young people, we get so many avenues to make money. Money from uncles who come to visit (although that rarely happens these days). Still we come into contact with money in so many ways every day.
Our ability to save some of the money we make for rainy days is what will set us apart. Waiting till you are rich to start caring about money is like waiting till you are married to start dating.
How we handle money speaks a lot about the things we care about and our priorities in life. What is the first thing that comes into your mind when you get a lot of money on your hands? Think about it.
Getting informed is the Beginning
In this article I have compiled 3 of the best books I have read on personal finance. This is subjective, there might be way better books out there. But these books have given me a head start in handling my money issues and prioritising my spending.
So if you have started a small business on the side and you want to be able to properly account for the money you make, these books are a great start. If you just want to know about personal finance terminologies and investments, these books are your go to resources.
Maybe you just want to be able to save a bit of the money your parents give you for school. It doesn’t matter how small your money is, being responsible about how it is spent is a great way to keep yourself disciplined and set yourself up for a great future.
1. The Financial Diet
Chelsea Fagan
Saving money is not about depriving yourself. It’s about deciding you love the future you as much as you love the today you – Chelsea Fagan.
The financial diet is your go to book on everything finance and investment. In the book, Chelsea talks about her personal money issues and goes further to give out advice on money related issues to young people.
The topics covered in the book includes, how to get good with money in a year. Creating a budget, how to make the most of what you have, how to be your money’s boss, saving guide and a lot of investment guides and terminologies with advice from finance experts.
This book is also very simple when it comes to explaining the basics of investing and finances. So it doesn’t matter if you have no idea what bonds and stock portfolios are, you would have a basic idea once you are done reading.
2. Smart Money woman
Arese Ugwu
Ultimately how we behave with money is deeply rooted in how we think about money and fear can be very a crippling thing – Arese Ugwu
The book explains complex financial truths and statements to the level of a layman who knows nothing about investments.
Trust me I’m a financial newbie but this book presented it in such a way that it relates to our everyday lives. The book talks about our everyday life choices as women and how we waste so much on our quest to live the good life.
Smart money woman shows that one can be financially conscious and still live a good life. It all takes planning and determination. The characters, the plot and the setting of the book all come together to make this book one of the most interesting books I’ve come across.
One would have expected that a financial book will be so cumbersome and full of terms but trust me Arese Ugwu did a good job by breaking it down to its simplest forms.
3. You are a Badass at making money
Jen Sincero
We’ve been raised to believe that you have to work hard to make money, and certainly there are times when this is true, but the real secret is you have to take huge, uncomfy risks.- Jen Sincero.
Do you sometimes wish you had more money? Of course you do! Who doesn’t? Even so, most of us harbor negative emotions about money and the people who make it. All this negativity is keeping you from realizing your economic potential. That’s a shame because, as you’ll see in this book, you have the power to change your situation.
All you need to do is get into the right mind-set and overcome the notions that are holding you back. Let’s get to work on making you a badass at making money!
Our culture has many negative beliefs about money, like it being the reason people turn into greedy and selfish monsters. But this is a myth.
Making money is what allows people to break free from financial constraints and use their time and energy for the things they care about. This is how philanthropists and activists are able to start charities and spread the word about important issues.
In this book, you will learn
- that wanting money doesn’t make you greedy;
- why you have to get out of your comfort zone if you want to become rich.
These are my three best books on finance this year. I have loved every bit of it and I have certainly made a lot of adjustments in my lifestyle .
When you start out as a bit of a hot mess (which we all are, at some point), you would need to take baby steps to become really good with money. Don’t worry, its okay to feel like this is all too much. Baby steps is all that is needed.
Well, Developing Afrika is hosting a webinar on personal finance! So you should sign up using this link: http://developafrika.org/upcoming-webinars/
Have fun and learn as you become a more responsible image of yourself.
