The Gift of Financial Literacy – Pt. 2

Four Books To Give the Gift of Financial Literacy this Holiday Season – Pt. 2: For Adults

COVID-19 has brought two financial extremes to light. There are people who are suffering great financial distress due to job loss, business closures and high levels of consumer debt. At the other end of the spectrum, there are those who have saved more than ever due to decreased expenses related work and limited entertainment and shopping opportunities. Regardless of which camp you fall into, there are some books that may help you with managing the limited funds that you have or the excess that you have accumulated.

One thing we all have in common, however, may be that we all have a little more time on our hands.  If you’re tired of your streaming service, there are a range of great books that discuss money in different and interesting ways.

In an earlier blog, I talked about a few of my favourite children’s books that focus on money and finance. I talked about the charm of the stories and the illustrations that draw young imaginations in. Generally speaking, I do not feel the same way about books on money and finance written for adults. More often than not, I dive into them and find that I get about half way through before I give up.

That being said, I have come across a few that I have read cover to cover and would recommend as good reads on what many consider to be a dry subject.  In fact, there may be something for every type of reader on your list from Canadian and local Manitoban, to the historical and philosophical look at humans, debt and wealth.

Read my recommendations below – all of which can be purchased safely on line through local booksellers:

 

Book title and author Theme Summary
The Way to Wealth: Ben Franklin and Money
by Benjamin Franklin and Charles Conrad
For the history buff
Bank on Yourself: Why Every Woman Should Plan Financially to Be Single, Even If She’s Not 

by Ardelle Harrison and Leslie McCormick

Manitoba native author Bank on Yourself is for every woman who has to manage her finances completely on her own, whether by choice or by circumstance. A growing number of women are, or will be, single for a significant part of their lifetime; and single women are one of the most financially vulnerable groups in retirement.
The Wealthy Barber and the Wealthy Barber Returns by David Chilton Canadian author and a nice easy story telling read A practical how-to guide for saving and investing for your future.  Notorious for is classic advice and approach, updated as always for today’s society.
Investing For Canadians: All-in-one for Dummies Comprehensive go-to guide for all things money and finance While investing is one of the smartest ways to become financially worry-free, making the decisions that gets you there can be intimidating and overwhelming. This book takes the fear out of the complexity by providing you with a clear and honest overview of Canada’s unique investing landscape—and shows you how to make it work for you.

In fact, I think that these would make great gifts during this holiday season. Pair one of these books with a cup of hot chocolate and a warm fire and you have given the gift that will pay “dividends” many years to come.

The Gift of Financial Literacy – Part One

– Ainsley Cunningham
Founder and Project Coordinator, MoneySmart Manitoba
Manager, Education & Communications, Manitoba Financial Services Agency

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