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3 Books That Will Change the Way You Think About Money

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Okay, I know what you all are probably thinking. “There are hundreds of books about personal finance and they pretty much all say the same thing.” I’m not going to attempt to break down which books are credible or not simply because I’m no financial expert. However, until now I have yet to see financial books geared specifically toward millennials. Personally, I’m not the best person when it comes to dealing with money. These books definitely changed my mindset about financial books as well as my mindset about money management in general. Most people read books about finance expecting to get rich immediately after finishing them. If you decide to read any of these books, I challenge you to simply be open-minded about the material. There may be some strategies that you decide to use, and there will be other strategies that you don’t believe in. The point is to become knowledgeable enough about the subject that you can pick and choose what works for you.

1. Broke Millennial – Stop Scraping By And Get Your Financial Life Together

In this book Erin Lowry discusses how to pay off student loans effectively, the pros/cons of staying with your parents after college, having financial talks with your significant other, and lots of other things relevant to millennials. One of the biggest misconceptions that I had is that the only way to start saving for retirement was by getting a job with 401k benefits. Lowry shows you how to save accordingly without much change to your current lifestyle. One of the things that I appreciated most about this book is the language that Lowry used throughout. Lowry uses language that young people can understand as opposed to other books that expect you to already know the financial jargon that they use.

3 Books That Will Change the Way You Think About Money

2. Rich Dad Poor Dad

This book is really good for people who aspire to start their own business and become entrepreneurs. However, people who don’t mind working a 9-5 job can take a lot away from this book as well. The main point that Robert Kiyosaki tries to get across from beginning to end is building your asset column, basically, getting to a point where your money can work for you. He talks about many things that people consider to be assets that are really liabilities. One thing that I can appreciate about this book is that Kiyosaki stresses the importance of making sure your kids are financially literate. That is the only way you can ensure that family wealth is passed down from generation to generation. Most parents assume that staying in school and getting a degree will teach kids all they need to know about money, but that is often not the case. There are important lessons and advice in this book that cannot be found in the classroom.

3 Books That Will Change the Way You Think About Money

3. Get a Financial Life

Personal Finance in Your Twenties and Thirties- This book is a lot similar to Broke Millennial, just more detailed. This book helps to highlight some of the biggest financial mistakes that people make in their twenties and thirties. Beth Kobliner also shows you how to start aggressively saving for those of you who plan on retiring early. Sharon Epperson, personal finance correspondent for CNBC, stated “Get a Financial Life gives you the essential information you need to get your finances in order as you’re starting your career. The rest is up to you. Educate yourself, get motivated, and get your finances in shape now by reading this book.”

3 Books That Will Change the Way You Think About Money

 

Written by guest author Jonathan Sutherlin.

Digm Piece (Op-Ed)

Top Ten Freshman Money Myths

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Starting college is one of the most important and exciting times of your life. Now that you’re all “checked-in,” enjoy your college experience without worrying about where your next meal will come from by chasing away these common freshman money myths. (more…)

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Do What You Love for Free – Here’s Why

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This is ParadigmMoney.Com, right? So, speaking about a paradigm shift should come as no surprise. In science and philosophy, a paradigm is a distinct set of concepts or thought patterns, including theories, research methods, postulates, and standards for what constitutes legitimate contributions to a field. When speaking about money, most believe it is something you work for and not something that works for you. In all truth, the one percenters understand this concept quite well. In order, to wake up and do what you love, you too must shift your thoughts when it comes to finances.

Doing what you love for free allows you to create freely. You can come up with disruptive, out of this world, never seen before creations that will rock this planet. Take Elon Musk from South Africa, founder of X.com which went on to become PayPal and sold to eBay for 1.5 billion dollars. Musk is also the CEO of SpaceX which designs, manufactures and launches advanced rockets and spacecraft. The company was founded to revolutionize space technology, with the ultimate goal of enabling people to live on other planets. You may say, of course, he can do this, he is a billionaire and co-founder of Tesla.

Not true. PayPal, Tesla, and SpaceX are all products of Musk doing what he loved. As a child, he was an avid reader and taught himself computer programming leading to the creation of X.com. He dropped out of college to start a company with his brother and here’s what he had to say about that PayPal deal… “My proceeds from the PayPal acquisition were $180 million. I put $100 million in SpaceX, $70m in Tesla, and $10m in Solar City. I had to borrow money for rent.” Elon Musk’s current net worth is estimated to be at about $13.3 billion. No bad at all.

The reality of the matter is the less you are attached to money the more money flows to you. Pay more attention to creating things that move the culture forward. Starting at doing what you love with ultimately position you for financial success and happiness.

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How Much Does College Cost?

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How much does college cost these days? If you’re preparing to go to college and will need to find a way to finance your own education, this is one of the first steps to figure out.  Then you’ll want to find out all of your options and create a plan. Here’s a quick breakdown on the typical cost of college. (more…)

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