For the first five months of 2016, my boyfriend and I are going to be in the U.S. “just because”. The plan is to work hard, visit friends/family and expand our businesses to be something really impressive so we can move beyond survival to accomplishing some of our financial goals.
I’m glad to have a friend on this finance journey! My boyfriend has played a major role in my attitudes towards money/business so I’ll have to recommend a few books that he’s inspired me to read…
1. I Will Teach You To Be Rich
I can assure you that if you’re in your 20s, this book will kickstart you into action. Very simple steps that you can actually do. Because of this book, I got my credit card and bank account sorted out. From here in Saint Lucia, I use my American bank account with NO ATM FEES / NO FEES WHATSOEVER. If you don’t want to read this book at least listen to this… switch to Schwab.
2. The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
I find the content of this book questionable with regards to race, class and gender but there are some positive aspects to it. This book will challenge you to think of ways you can be more frugal and challenge you to undo some of your own negative psychology towards money and “status”.
3. The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
My biggest takeaway from this book was how to use my time efficiently. From the moment I put it down, I immediately began to trim away various wastes of time. I still have two quotes from this book pinned to my computer desktop at all times. If you’re a constantly busy person who still seems to get nothing done, read this book.
4. MONEY Master the Game: 7 Simple Steps to Financial Freedom
Complicated book targeted at the rich. Good for learning terminology and to get you thinking on where you could invest your money in the future. Also great for guiding you through coming up with a financial plan and realizing how much money you would need to make your wildest dreams come true.
5. The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) (Collins Business Essentials)
A very long book that I read on the beach in January. You will learn everything you need to know about investing. I advise highlighting a lot because you probably won’t remember most of it, but you’ll want to come back to this in the future. I’m still a little ways off from investing, but all the same this was an important read and dispelled many falsehoods about the stock market and investments.
While none of these books were “meant for me” in that, the target audiences were clearly middle-upper class white men, I still found MANY practical applications in my life as a black woman who lives in a third world country. I hope you gain something from these recommendations like I did!