Finance Books for Beginners

I am often lauded by people around me for handling my personal finances well because of my being frugal. Little do they know, my financial intelligence quotient, or, to borrow FQ Mom’s term – my FQ level is below the passing mark. It’s just a blessing in disguise that I don’t fall for the latest gadgets or fashion trend because I basically am from the medieval period and was sadly born not to have a fashion sense (more on my lack of it here). I was taught the importance of money and saving, and having a regular income, but I have come to know that those are not enough. I totally zone out come talks about the stock market, shares and investments. And with my recent massive and drastic reallocation of personal budget, it dawned on me that this financial illiteracy of mine needs to be addressed seriously. 

Things I already know and should stick with: 1. not to get into something I know nothing about, 2. consult only with the people in the know and 3. read. One way to educate my self on how to better save for the rainy days is to read books on finances. Below are few of the books that introduced me to the basics. They did not accelerate me to be a finance expert, but they surely jumpstarted my long overdue financial education.

Learn to Earn by Peter Lynch and John Rothchild. Written on the cover, “ A Beginner's guide to the basics of investing and business” is basically what it is. They explained stocks, mutual funds, bonds, collectibles, and other forms of investments like they’re teaching highschoolers. Citing short histories and humble beginnings of brands like Coke, Footlocker, etc to appeal to kids and absolute beginners like me. I find it easy to digest as it is written in simple words mixed with jargons like the bear and bull economy, blue chip and the like.

Rich Dad, Poor Dad by Robert Kiyosaki. Although I don’t share the same opinion with the author about networking and acquiring foreclosures, he still has lots of wise advices worth keeping in mind. You don’t have to make it a bible. Just take what is in line with your values. And he’s a bestselling author after all.

FQ: The nth Intelligence by Rose Fres Fausto. My most recent read and the most relevant and up to date for me. She addresses common financial problems encountered by Filipinos. She lets you trace the roots of your first impression and your beliefs on money – your childhood money memory, as she puts it. Most importantly, it is written in simple words, not intimidating for ordinary people like me. She also has a column on the same subject on philstar.com.

Finance Basics, Harvard Business Review. I haven’t read this one yet. In fact, I forgot I have this in my shelf. Browsing the pages, it looks like a review of my Accounting Appreciation for Non-Accountants subject in college (😰cringe!). it tackles financial statements, budget, calculating ROI and it has test questions in the end.

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