If you've followed our posts, you know that April is Financial Literacy Month! But did you know that it's also Military Saves Month? That's a big deal to our military-brat founded small business. To finish out the month strong and make sure we take this month's financial focus and skill-building into the remainder of the year, we have compiled a list of personally-recommended reads as well as what's next on our list. While these resources aren't military-specific, we encourage our military starz to utilize your installation's resources and explore those available through Military OneSource and sites like MilitaryConsumer.gov to keep you on track to your financial goals during and after your active service.
Read & Recommended:
We Should All Be Millionaires by Rachel Rodgers
This is a great mindset shift book to help you think about your relationship with money differently - and more positively.
Profit First (For Minority Business Enterprises) by Susanne Mariga
A wonderful book that includes accounting strategy by an accountant but written in plain language that we can all understand.
Good Self Bad Self by Judy Smith
While not financially focused, this book dives further into self-awareness to help you cultivate your best self and work toward your goals.
Think and Grow Rich by Napoleon Hill
Building on the mindset shift, this book is best read when you are ready to start manifesting and working toward your money goals.
- The 7 Habits of Highly Effective People by Stephen Covey
- The Four Hour Work Week by Timothy Ferriss
- Atomic Habits by James Clear
- Get Good with Money by Tiffany Aliche
- The Psychology of Money by Morgan Housel
Personal Finance Principles to Remember
Throughout our personal finance reading, some principles remain unchanged in helping you build wealth:
- Spend less than you earn.
- Insure against the unexpected (accidents, natural disasters, medical problems, etc.).
- Invest (and consider diverse, low cost index funds that mirror U.S. and international stock and bond markets).
- Start saving as early as possible (and watch compounding interest work for you).
- Manage your debt by not taking on more than you can handle and paying it off as soon as you can.
- Create automated systems of saving (like setting up a split direct deposit), investing, and spending (like auto bill pay) so you can spend time doing fun things and not financial admin tasks.