Doing your own financial education is important. Because no one will do it for you. Especially in France. To get you started, here are the three books that changed my financial life.
Financial education, in UK, it’s not like that…
Note that I’m saying that but I don’t know too much about what’s happening in other countries…
Financial education, that’s 3 parts:
- what the school teaches you
- what your parents teach you
- what you learn on your own
Let’s look at these three areas…
What the school teaches you, it’s pretty close to nothing. If you are studying finance, personal or not, economics or related subjects, you will of course be entitled to courses. But until college, nothing at all!
What your parents teach you, or the family in general, is again pretty close to nothing.
Well, you have to admit that I’m making a generalization based on my childhood. Apart from pocket money and some vague advice like “doing your accounts”, I learned nothing from my parents. And I haven’t heard a story that’s very different from the people I know…
Another aspect completes these first 2 parts: what you are taught without really learning it. These unspoken things, these beliefs and this collective unconscious specific to UK have a major impact on our beliefs and our relationship to money and finances in general.
In UK, money, wealth and economic success do not get good press. This has as much to do with the Judeo-Christian heritage of our country as with certain events that have (too) lastingly marked consciences. Like the crash of 1929 or the ruin of the Law system.
In short: except in special cases, the school, our parents and authority figures do not teach us much.
So there remains the third part: what you learn by yourself.
In other words, if you want to have sufficient financial education to manage your money properly, develop your assets and enrich yourself, then you will have to forge it by yourself.
Where do you start?
You can also consult websites, such as mine. But don’t deprive yourself of reading a few well-chosen books. You will find there, more quickly and simply than on a website, a global approach and tips and methods to take action.
Which books to choose?
I suggest 3 of them.
These are the three books that changed my financial life.
Before I read them, my financial life was a bit of a mess. And my financial management was close to zero. Of course, I was spending wisely. But the rest of it…
No overall approach, no plan, no management, no investment.
But that was before. Before I read these three books.
It will revolutionize your financial life. And since money has the power to impact your life in general …
Everybody deserves to be rich with Olivier Seban.
It’s not the only book about personal finance. But it’s probably one of the best known.
There are others, such as Devenez riche by Ramit Sethi (the French version of I will teach you to be rich) or very riche, very as Robert Kiyosaki. And you won’t go wrong when you read them.
But I find that Everybody deserves to be rich by Olivier Seban is a notch above. Because in my opinion more didactic and more complete. Being complete doesn’t mean that you will know everything about everything because some subjects are too vast and moving. But you will have a global vision of the different levers at your disposal.
Personally, this is the book that has changed my financial life the most. There is clearly a before and an after.
It was after reading it that I decided to take my financial life in hand.
It was after reading it that I read other books and followed sites.
If there is one book to read among the 3 that I suggest, it is this one.
Josh Kaufman’s Personal MBA…
Let’s get out of the world of personal finance for a while. Or rather, let’s take a step up.
An MBA is a Master of Business Administration, or in French a Maîtrise en Administration des Affaires. It is an international graduate degree of the highest level in the field of business: strategy, marketing, finance, human resources and management (thanks Wikipedia :-)).
Obtaining such a degree is time… and money.
Time is an unavoidable expense. On the other hand, it is possible to avoid spending fortunes.
A beginning of solution, once again, are books. In particular a book: Josh Kaufman’s Personal MBA.
Well, this book won’t completely replace the diploma course, especially in terms of practical cases or relational issues. But it will in theory.
This book brings together and summarizes all the knowledge of the business world and business management: value creation, sales, marketing, finance, but also productivity and human psychology.
Comprehensive, isn’t it?
Why this book?
Its subtitle explains it perfectly: The business bible to get your career off the ground without going through the MBA case.
Whether you want to remain an employee or create your own company, whatever the field and the model, this book will be useful and beneficial to you.
Note that you can also go beyond this one reading and read the books suggested by Josh Kaufman. These are 99 books that Josh Kaufman considers to be the best in their subject matter for business and enterprise. Josh’s opinion alone may not be enough, but these books are also appreciated, recognized and highly rated. Do your shopping 🙂
Investments : Muscle your savings from the first euro of Guillaume Sommerer
Let’s go back to the personal finance area.
And let’s focus on the investment side of things.
Because managing your money, sticking to a budget, cutting back (or spending smart) and increasing your savings is good. But it’s not enough.
The next step is to invest. To secure your daily life, finance projects and prepare your future (and that of your family).
But investing efficiently without making (too many) mistakes is not easy. And the process can be intimidating.
How do you go about it?
Well, once again, start by reading a book. In this case Investments: Build up your savings from Guillaume Sommerer’s first euro.
Everyone deserves to be rich allows a first approach to the various investments available. But this book goes further, presents levers that are absent from Olivier Seban’s book. It is therefore more complete.
Once again, more complete does not mean that it is exhaustive and that you will know everything about all investment methods. For this subject is too vast, in addition to being dependent on innovations, current events and legislation.
But this book completes the first of my list.
To give new impetus to your finances, your investments and your career, I recommend these 3 books:
- Everybody deserves to be rich with Olivier Seban.
- The Personal MBA of Josh Kaufman
- Investments : Muscle your savings from the first euro of Guillaume Sommerer
I am not basing this suggestion on opinions gleaned from left or right.
I am not basing it solely on my appreciation of these books.
I base it on the effect and impact these books have had on my financial life. They have clearly changed my financial life and my life in general.
So I would strongly recommend them to you.