Written By: Isa Gonzalez Montilla
On March 31, 2021, President Joe Biden declared April as National Financial Capability Month. This month-long recognition is meant to highlight the importance of high-quality financial education so that Americans are equipped with the basic and necessary knowledge to maintain a healthy and effective financial capability. Public and private schools, community centers, non-profits, and other organizations are encouraged to promote financial literacy and education, teach the barriers to financial well-being, and encourage everyone to take action on building their own financial capability.
The Coronavirus pandemic caused everyone to check in with their finances because while some worked from home, others had to stop entirely. This has caused 88% of Americans to stress in their personal finances and it also uncovered many realities of inequality in the United States. It’s very important for individuals to be financially literate because it allows them to effectively manage their money habits, which in turn results in living a more peaceful life. What better way to learn about something new than reading? Here are 5 great books for those who want to get a head start in knowing everything about finances.
1 - The Economic Impact of Covid by Emily Hudd
This book uncovers the major impacts the COVID-19 pandemic has had on economies all around the world. Not only is this a good read for those who want to know more about the financial issues caused by the coronavirus outbreak, but it also represents the origin of National Financial Capability Month.
2 - Unequal Democracy: The Political Economy of the New Gilded Age by Larry M. Bartels
Are you interested in learning more about the political causes and consequences of the economic situation in the U.S.? This book is a great resource to learn more about the systematic disparities in our society and how they’ve acted as barriers to the financial well-being of millions of families in America.
3 - Personal Finance QuickStart Guide: The Simplified Beginner’s Guide to Eliminating Financial Stress, Building Wealth, and Achieving Financial Freedom by Morgen Rochard CFA CFP RLP
Don’t know where to begin when it comes to learning about finances? Don’t worry, because Morgen Rochard has got you covered. This is the perfect starter guide to help you embark on practicing positive spending and saving behavior.
4 - Scam Me If You Can: Simple Strategies to Outsmart Today's Rip-off Artists by Frank Abagnale
While some use their financial literacy for good, others use it for bad. In this case, these people are called scammers, and they like to take advantage of people’s finances. This novel is the perfect sample of how to outthink con artists and protect yourself from fraud and identity theft.
5 - The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich by David Bach
This #1 New York Times, Wall Street Journal, USA Today, and Businessweek bestseller is everything you need if you have big plans for your financial security. Whether you're 13 or 105, this book is perfect for those who want to learn more about how to successfully use their financial literacy to the fullest.