April marks National Financial Literacy Month, an opportunity to dive into the world of personal finance and boost your financial know-how. Whether you’re climbing the corporate ladder or nearing retirement, financial literacy is key for making informed decisions that lead to a secure and prosperous future.
However, sorting through the multitude of available personal finance resources can be daunting, especially if you aren’t sure where to begin. That’s why we’ve curated a list of 10 personal finance books and podcasts that stand out for their engaging content, practical advice, and innovative approaches to managing your finances.
These resources offer valuable insights and strategies that can change the way you think about and manage your money. They’re also accessible, meaning you don’t have to be a financial expert to find them interesting. We hope you find these selections both educational and enjoyable!
Here are 10 books and podcasts to enhance your financial literacy:
#1: The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel
The Psychology of Money offers a refreshing and profound exploration of how our behaviors and perceptions shape our financial decisions more than the numbers themselves. By weaving together history, psychology, and economics, author Morgan Housel delves into the reasons behind why we tend to make irrational financial choices and how our backgrounds and personal experiences influence our approach to money.
For those looking to boost your financial literacy, The Psychology of Money doesn’t just offer strategies for accumulating wealth; it provides valuable insights into how to have a more fulfilling relationship with money, so you can live a richer, happier life.
#2: Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins
Die With Zero challenges conventional wisdom about saving and investing for the future with a provocative premise: Optimizing your wealth shouldn’t just be about accumulating as much money as possible for retirement. Rather, it should be about using your resources to live a fuller life at every stage.
Author Bill Perkins introduces a framework for spending and enjoying your money through various phases of life, advocating for a more balanced approach to personal financial management. Moreover, he encourages readers to consider the value of their time and experiences, not just their monetary wealth, in financial decision-making.
Ultimately, Perkins offers an enlightening perspective on how to maximize life’s moments without sacrificing financial security. If you’re looking for a fresh take on personal finance this Financial Literacy Month, Die With Zero might change the way you think about accumulating and distributing wealth.
#3: Financial Freedom: A Proven Path to All the Money You Will Ever Need by Grant Sabatier
Financial Freedom: A Proven Path to All the Money You Will Ever Need is a roadmap for anyone aspiring to escape the paycheck-to-paycheck lifestyle and embark on a path toward personal and financial autonomy. Author Grant Sabatier, who achieved financial independence by age 30, shares his journey and the lessons he learned along the way, offering practical advice for earning, saving, investing, and living a life rich in experiences without the burden of financial stress.
For those interested in improving their financial literacy to ultimately achieve financial independence, Financial Freedom serves as an insightful and empowering guide. Sabatier not only provides the tools and techniques to maximize income and grow wealth but also encourages a profound reconsideration of what it means to live a fulfilling life.
#4: Your Money or Your Life by Vicki Robin and Joe Dominguez
Your Money or Your Life is a transformative reference that goes beyond mere financial advice to offer a comprehensive life philosophy. Authors Vicki Robin and Joe Dominguez challenge readers to reassess their relationships with money, work, and consumption, advocating for a life of financial integrity and mindfulness.
What sets this book apart is its step-by-step approach to achieving financial independence through a combination of reducing debt, cultivating frugality, saving diligently, and investing wisely, all while emphasizing the importance of aligning one’s spending with personal values and goals. It stands out for its emphasis on the psychological and emotional aspects of financial decision-making, encouraging readers to make conscious choices about their financial paths.
For those embarking on a financial literacy journey, Your Money or Your Life offers a unique roadmap for redefining success and creating a sustainable lifestyle that values time and freedom over material wealth.
#5: The Millionaire Next Door by Thomas J. Stanley and William D. Danko
The Millionaire Next Door is a classic personal finance book that presents a compelling analysis of America’s affluent, debunking common myths about wealth and how people accumulate it. Authors Thomas Stanley and William Danko reveal that most millionaires live below their means, investing wisely and avoiding debt, unlike the lavish lifestyles the media often portrays.
What sets this work apart is its rigorous research methodology, including surveys and interviews, providing an evidence-based approach to understanding financial success. In addition, the authors highlight the habits and strategies that have enabled individuals to amass wealth over time, emphasizing financial discipline, hard work, and prudent investment.
For anyone seeking to improve their financial literacy, The Millionaire Next Door is a treasure trove of practical advice and insights. It teaches valuable lessons on the importance of living frugally, saving diligently, and investing intelligently, demonstrating that financial independence is achievable for those who commit to smart financial planning and management.
#6: Against the Gods: The Remarkable Story of Risk by Peter L. Bernstein
Against the Gods is an engaging journey through the history and evolution of risk management, illustrating how the concept of risk has shaped society and the financial markets. This book stands out for its thorough exploration of risk, from ancient times to the present day, making complex statistical concepts accessible to a general audience.
For those aiming to enhance their financial literacy, Against the Gods offers invaluable insights into the nature of financial risk and the importance of strategic risk management. By demystifying the complexities of risk, Author Peter Bernstein empowers readers with the knowledge to make more informed financial choices, ultimately leading to a more confident and calculated approach to personal financial planning.
#7: Your Money Briefing Podcast from the Wall Street Journal
Your Money Briefing is a concise, informative audio resource that delivers daily insights into the world of finance, covering a broad spectrum of topics from market trends and investment strategies to personal finance advice. What differentiates this podcast is its ability to distill complex financial news and concepts into understandable, bite-sized pieces, making it accessible to both novices and seasoned investors alike.
Hosted by experienced journalists, each episode leverages the vast reporting resources of the Wall Street Journal, offering listeners up-to-the-minute information and analysis on economic developments, financial planning, and the impact of global events on personal finances. For those seeking to boost their financial literacy, this podcast provides a valuable, time-efficient way to stay informed about the financial world.
#8: The Long View Podcast from Morningstar
The Long View is an insightful series that dives deep into the strategies, philosophies, and experiences of top investors and financial experts. Each episode features in-depth interviews with industry leaders, offering listeners a unique opportunity to learn from the wisdom and mistakes of seasoned professionals.
For those looking to take their financial literacy to the next level, The Long View offers an abundance of knowledge on how to build and maintain a successful investment portfolio over time. It’s an invaluable resource for those who are serious about understanding the intricacies of investing and seeking to apply these lessons to their own financial lives.
#9: ChooseFI Podcast with Brad Barrett and Jonathan Mendonsa
The ChooseFI Podcast stands as a beacon for those navigating the path to financial independence, offering a dynamic and supportive community for listeners at every stage of their financial journey. Hosted by Brad Barrett and Jonathan Mendonsa, ChooseFI delves into a wide array of topics, including saving, investing, tax optimization, debt reduction, and income generation strategies.
What sets this podcast apart is its grassroots approach, emphasizing practical tips and life hacks shared by a diverse community of guests, including financial experts, entrepreneurs, and individuals who have successfully achieved financial independence. It offers inspiration and guidance for anyone looking to boost financial literacy, reduce financial stress, work toward financial freedom, and ultimately, craft a life that values time and choice over material wealth.
#10: Stacking Benjamins Podcast with Joe Saul-Sehy and OG
The Stacking Benjamins Podcast brings a fresh and entertaining approach to personal finance. Set in host Joe Saul-Sehy’s mom’s half-finished basement, the show’s lighthearted and humorous format makes learning about money management both fun and engaging.
Unlike traditional finance podcasts, Stacking Benjamins focuses on a wide variety of topics through a mix of guest interviews, listener questions, and themed episodes, covering everything from saving and investing to earning and creating better money habits. For those looking to improve their financial literacy without the heaviness of jargon-laden discourse, this podcast offers a refreshing alternative.
Boost Your Financial Literacy and Confidence with Benchmark Wealth Management as Your Guide
Each of these resources offers a unique lens through which to view the complexities of personal financial management. However, while these books and podcasts can provide a solid foundation for understanding and improving your personal finances, the journey doesn’t end here.
The pursuit of financial literacy is a lifelong endeavor that can be significantly enhanced with professional guidance. If you’re ready to take the next step toward financial independence, consider reaching out to a fiduciary financial advisor like Benchmark Wealth Management.
At Benchmark Wealth Management, we understand that every financial journey is unique. Our team of experts is here to provide personalized advice tailored to your individual needs and aspirations. Contact us today to find out how we can help you navigate the path to financial freedom with clarity and confidence.
About Rick
Richard W. Stout III is managing director of Benchmark Wealth Management, LLC, with 25 years of experience in the financial industry. He specializes in financial planning and asset management for individuals, families, and institutions seeking to build and monitor durable and sustainable plans for their financial futures. Rick is a Certified Financial Planner™ professional and holds the Accredited Investment Fiduciary® (AIF®) designation. He obtained his MBA from Rensselaer Polytechnic Institute and his BA in Economics and Anthropology from the University of Connecticut. Rick has earned a Master of Science degree in Personal Financial Planning from the College for Financial Planning. He has extensive background experience in lending, credit review and analysis, and real estate and partnership management. Learn more about Rick by connecting with him on LinkedIn.
About Thomas
Thomas J. Britt is managing director of Benchmark Wealth Management, LLC, with 23 years of experience in the financial industry. He specializes in executive financial planning, retirement planning, investing, as well as the management of trusts and endowments. Thomas is a CERTIFIED FINANCIAL PLANNER™ professional. He holds the Master Planner Advanced StudiesSM, MPAS®, Certified Investment Management Analyst® (CIMA®), and Chartered Retirement Planning Counselor℠, CRPC® designations. Thomas earned a Bachelor of Science in Finance from the University of New Haven, an MBA in financial technology from Rensselaer Polytechnic Institute, and a Master of Science in Personal Financial Planning from the College for Financial Planning. He is also a proud veteran of the United States Navy Submarine Force. Learn more about Tom by connecting with him on LinkedIn.
Additional information, including management fees and expenses, is provided on our Form ADV Part 2, available upon request or at the SEC’s Investment Advisor Public Disclosure site, www.adviserinfo.sec.gov/firm/160192
Securities offered by Registered Representatives through Private Client Services, Member FINRA, SIPC in the following states: AZ, CA, CT, FL, KY, MA, ME, MI, MN, NH, NJ, NY, RI, TX. (Securities-related services may not be provided to individuals residing in any state not previously listed.) Advisory services offered through Benchmark Wealth Management, LLC a Registered Investment Advisor. Benchmark Wealth Management and Private Client Services are unaffiliated entities.
