Those who know me, know I’m fascinated by finances. Going into college as an accounting major I quickly realized that for a few more credit hours I could be a triple major and add economics and finances. *A couple years later I realized that for my happiness, my career had to be in the creative field. Freelancing for 7 years and now about to start year four of my own business, these classes were far from wasted.
Continuing education in your career is important, but continuing your education in personal finance is critical. Well, critical if you want to be financially independent, wealthy, retire early or just NOT live paycheck to paycheck.
Reading articles, listening to TED Talks, financial coaching, and books. These are my favorite ways to broaden my financial education.
The latest two books I went through are: The Millionaire Next Door: The Surprising Secrets of America’s Wealth by Stanley Thomas and And 100 Way$ to Create Wealth by Steve Chandler
These two make a great one-two-punch for wealth. I highly recommend getting both of these and starting with Stanley Thomas’ book first. The Millionaire Next Door is fantastic for those who are living paycheck to paycheck and need enlightenment for a mental shift. Keeping up with the Joneses is a guaranteed path to failure. It is easy to see big houses, nice clothes, friends going out all the time, and nice houses. What you don’t see is their credit card debt. Live below your means, frugality, savings are the most common themes among people worth 1-10 million dollars.
Notice that salary or inheritance are not in the most common themes. 80% of these millionaires are first generation millionaires. Following The Millionaire Next Door with 100 Way$ to Create Wealth is a great combo.
My personal favorite is to ask for something ridiculous once a day. I’m going to implement this every day for the next ten days. Then I’m going to flip through the book, find another thing to add and do both of those the next 10 days. I’ll keep you posted!